The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-12-04
TRADE DAY WASTED
THE NET CHANGES IN MAY AND
DECEMBER WHEAT PRAC-
TICALLY NOTHING.
EXPORTS TO THE RESCUE.
HEAVY FARM STOCKS PLAYED
HAVOC WITH PRICES AT THE
OPENING.
THOMAN,s CROP REPORT BEARIsH.
Although 1t Was Vigorously De-
nOunced, 1t Caused Liquidation
and IA Temporary Decline.
MARKET SUMMARY.
FINANCIAL.

CHICAGO. Dec. 3.-Both the May ana De-
cember futures in wheat closed To-Day at
substantially unchanged prices. FIGURES on
the stocks vet in farmers hands and rumors
Of forthcoming heavy shipments to chicago
nlaved havoc with prices for while, but the
evnort ENGAGEMENTS came to the rescue. Corn
was weak and closed 1sQAc lower. Oats
and provisions showed very little change at
the close.
Wheat started firm at 90B@90Ac for May
and at 952sc for December, advances of 1sc
and sc respectively May soon after ad-
vanced to 9O3sc, on moderate buying by local
shorts and by houses with foreign connec-
tions. The strength was due mainly to the
action of the Liverpool market, which opened
with a slight Decline but was back TO yes
terday's closing quotations before trading
commenced here. In the course of few
minutes more the Liverpool prices had
further advanced to from 14d to asd gain
for the day. The Northwestern receipts still
held at a volume too great for any confrma-
ton of the claims made that farmers deliv-
cries in the Northwest had materially de-
Creased On the other hand, Beerbohm was
reported to have made a final estimate of the
quantity of wheat grown in the world this
year, which made it 160 CO0,0-0 blu short of that
of the year previous, and 136,0O0,0CO bu less
IMAM the WOTlu cTOp Ill 1851, III WulCA year
the United States and Canada raised the
heaviest crop in their history.
The export clearances keep up in a remark
able manner. Six ports cleared nearly 709,
eco bu, wheat and flour, for the day. The
estimate on stocks, Northwest markets, is
an increase of csc, 900 bu at Minneapolis and
a decrease of 100000 blu to 100000 bu at
Duluth. Minneapolis and Duluth received
759 cars against 49S last year. Chicago re-
cepts were 146 cars. Thomans crop report
came out during the morning. 1t claimed
that the amount of winter wheat seeded this
fall was rs per cent in excess of the area
harvested last summer and that 4S per cent
Of the crop-equal to 275, 900 bu-was still
in hand, which Is 90,000,0 900 bu more than at
this time last year, and would leave as avail
able for export up to July next 115, 600, 900 blu.
The statement was so bearish that, although
d. was vigorously denounced, it caused sharp
liquidation, and decline in May to S91bc
even December, which had sold up to CSC
lnder good buying was let go of in quantities
iuficient to cause break to 9414c. There
we're renewed reports that the accumulation
500 cars at Minneapolis was for the pur-
ose of bringing wheat to Chicago in the
event of navigation closing soon.
After midday the market better sup
ported. New York reported 60 loads taken for
export This stimulated buying toward the
close, and May rallied to soc. 1t was selling
at $3.50 at the close and December at 95c.
Corn was very heavy and readily sympa-
thized with the downward tendency in wheat,
When that market was declining, but did not
% readily incline to follow the latter on its
alter advance. The selling was the same
und as yesterday, by elevator people and pro-
essionals, with some December liquidation.
teceivers reported country offerings liberal.
}learances were SSS000 blu. Receipts were
100 cars. May ranged from 2S5sc to 2S1sc.
closing 1s@Ac lower at 2S3sc. Covering by
shorts caused the late rally. Oats were weak
r and Aq12c lower early, but rallied and
closed with only &c decline. There was
considerable selling of general nature while
Yheat was ON the decline, but offerings were
airly well taken and the market easily re-
covered when wheat 5urned upward. Commits
sion houses were the best buyers. Receipts
we're 376 cars. Clearances were 213. COO bu
Nay ranged from &c to 21h05sc and closed
at 21%c.
The market for provisions was quiet. only
limited business being DONE The feeling
vas steady, but price changes were as mar.
row as on yesterday. Hog market was firm
r. The demand for cash product was active
ma sales We're fairly large. At the close
anuary pork was 212c higher at IS 171b lam
ny lard unchanged at $4.22b and January
IDS unchanged at S4.1712. Estimated receints
'aturday: Wheat 100 cars; corn, 445 cars {.
oats, 80 cars; hogs, %, 600 head.
Inc leading features ranged as follows.