The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-01-28
ONE CENT SLUMP
WHEAT BROKE NEARLY TWO
POINTS, BUT MADE A PAR
TIAL RECOVERY.
LIQUIDATION VERY FREE.
WEAK OPENING CABLES, FOL-
LOWED BY A DELUXE OF
LONG STUFF.
COARSE GRAINS DID NOT FOLLOW.
Corn and Oats SymDathiEed With
the Wheat Reaction and Not
With the Weakness.

CHICAGO, Jan. 27.-Wheat broke 17sc again
today. but made a partial recovery, closing
ct a decline of 1c for the session. Liquidation
started by the weak opening cables, was
very heavy. Corn and oats acted independ-
entity OF wheat for once, and advanced about
1c each. Provisions were weak, and de-
Clined 21a01Gc. Wheat opened very weak,
with buyers hard to find at 1c lower than
Tuesdays closing prices. May, which was
worth 777sC at the close Of yesterdays session,
opened today all the way from 1872 to nc.
1t was not generally saleabIe above 7612c,
although in less than minute later 1850
was bid, and some sales were effected at 76$4c.
After holding for about half an hour around
1850 there an accession of weakness and
another severe and rapid break to 755sc. The
lowest price here recorded was reached before
an hour o. the session had passed. The de-
cline was the result of lower cables from
Liverpool, where a decline OF 1%d was re-
corded. General liquidation began when the
trading started, the selling being heavy during
the first half hour of the session, and COM
mission houses were kept busy unloading
wheat for their customers throughout the
country. There proved to be quite a num-
Der Of people who had profit i'll sight as the
result Of the break. and they were eager to
take advantage Of it. Purchases were very
free around 1859, but when the shorts got
through prices started down the hill again
and 1t was not until the export engagements
began to assume respectable proportions that a
genuine rally took place. Northwest re-
celpts were small at 1872 cars, as compared
with 212 on the same day last week and 67
on the corresponding day in 1896. AS was the
case yesterday, however, this was attributed
70 the weather, and but little attention was
paid to the figures. When the figures for
export engagements had reached a total of e.
boat loads, May fairly on the recovery
the price reaching 7612c by noon. The market
was less active during the last hour and the
price held steady, May closing at 765ac
corn did not partake of the early semi
pahlcky feeling in the wheat pit but was on
Ine contrary, somewhat inclined to sympathize
WIN the slightest reactionary feeling which
get IN after the selling pressure in wheat
mao exhausted itself Many good sized lines
OF snort corn were covered. May opened nc
lower at 233sc, sold up to 24c and closed
STEADY at 237sc. Not for long time back
2ad mere been such big trade In oats Shorts
pought freely, and created a very firm feel
Ing ing ana higher prices. The market was in
oependently firm throughout. and had no re-
usually tenders. May opened about lac low
er, at from 173B@17Ac, sold off to i75Sc and
closed with 175sq1724c bid Provisions were
weak from the beginning to the end of the
session. Hog receipts were small hut ward
prices were lower, which furnished an excuse
Tor the free offerings. Some commission
mouse buying late in the day served to steady
prices slightly. At the close Nav norIx was
ABOUT l0c lower, at $7.S5; May lard PIC low
eT' at 80 95Q3. 971s, and May ribs Sc lower
AZ $4.U3. Estimates: Wheat. 30: corn OK.
oats, 135; hogs, 80, 600 head. -"''
Inc Iead1ng futures ranged as follows.