The Saint Paul globe., 1897-08-21
MARKET SUMMARY.

CHICAGO. Aug. 20.-The wheat mar
ket had another remarkable advance
today, September closing at 9Sc, and
December at 925sc. showing net gains
Of SIS and 5&c respectively. A sensa-
tional advance at Liverpool and poor
crop reports were responsible for the
lump, which was accompanied by scenes
of excitement almost unparalleled. On
the curb this afternoon September
wheat sold at 95%c. Wheat opened
with a roar at 907A A@905sc for Septem-
Der. and from 9O14 to Gle for December,
against yesterdays closing prices OF
S71s and size An active scramble for
the rather limited offerings at the COM
mencement jumped the price to Size
for both September and December be.
fore much could be bought.
The early kilograms on market mat
ters were quite sufficient to account for
the renewal of the buying frenzy with
which operators have been seized at
intervals during the past three weeks.
Liverpool was excited and 11ad higher
at the opening, Notwithstanding yester-
days Sc decline here, and in the course
of half an hour the Liverpool excite
ment had carried the days rise up to
the equivalent of SIC per bushel, the
cablegram quoting the advance at 41sd
per Genital. The crop reports from the
Northwest were even worse than
usual, while Beerbohm added fuel to
the flames by cabling predictions of
So wheat on account of European crop
being estimated $4,000, 900 bu, short of
requirements. Wheat had declined to
S7Tsc on realizing sales, but the publi-
cation of such radical statements
startled the spectators and made
them, to a man, anxious to get some
wheat. The result was that in two
hours from opening, December wheat
had risen to 93c, and September to,
925sc, while st. Louis, Minneapolis and
Duluth all quoted 81 as the price of
cash wheat in their respective mar
ketS. The reports of foreign buying of
cash wheat at New York were of
sensational character. Everything Of
fered in the shape of wheat or wheat
flour to Liverpool, Bristol, Hull ~
other United Kingdom points was
taken, and before noon 900 bushels
had been sold at New York for export
Paris was reported Nc lower for the
day, but for all that orders from there
to buy wheat were large and orders
from the United Kingdom were said
to be immense. Every house here with
English connections had buying or
ders for December wheat, many of
them to cover previous short sales.
Minneapolis and Duluth got 163 cars
compared with ATS a year ago. Exports
clearances from Atlantic ports were
equal to 715,000 bu. The advance here,
which finally reached 93!ac for both
September and December, seemed to
have paralyzed the cash trade, as only
$4,000 bushels We're sold for shipment
from here. The market was very er-
ratio toward the close with fluctuations
very frequent. September was bring
ing 93c at the close and December was
quoted at 925sc
In spite of large receipts, a good deal of
country selling and prospect of milder
weather, corn was strong, and at one time
showed over cent advance. There was a
large demand for cash, with a good export
demand. The country selling had a tendency
TO create weakness at times, but the extra
ordinary strength of wheat overcame this
Business was heavier than it has been for
some time. Receipts were 1040 cars Char
tiers were for 500, 600 bu. September opened
aD9ut arc ooa &c nigner at 2s1sc sold between 2sc
and 2gs4q29&c, resting at 293s @291hc. The
Dull clique was said to have bought heavily
oats were rather quiet during the early
morning, but the market became active as
the session advanced, and heavy days
business was done. The bull crowd was a
large buyer, and increased its line heavily
wheat, OF course, was the overshadowtng
influence, and after a brief interval of east.
ness early the market ruled strong Septem-
Der opened shade higher at &c., sold at
1IBqlSc, and advanced to 1S$zc. The c:osing
price was 1S1@c asked
Provisions enjoyed some of the general bull
prosperity. A good cash trade was reported
and there was considerable activity in the
pit Packers were the chief buyers, led by
Armour & Co. The Cudahys sold lard and
ribs, a feature, of the market. At the close
SepIenber pork was 1Oc higher at $S.67h;
lard &c higher at A.571h, and ribs 10c higher
at S5.2214. Estimates: Wheat $40 cars; corn.
l'l59 cars; oats, 675 cars; hogs, 1000 head.
The leading futures 1anped as fnIlo