The Saint Paul globe., 1897-10-01
MARKET SUMMARY.

CuIcAGO Sent 30-Wheat today more
than recovered from yesterdays tumble the
December option closing firm at 19sc du-
vance. The market was badly ratified during
the forenoon by the sharp break IN spilhe
wheat which became irregular today, puI
heavy shipping engagements from mere, pre-
sumably of this same grade, put the mar
ket on its feet again. Drought reports were
also q factor Other markets were content 10
follow wheat in mild degree, corn ana oats
closing &c higher and provisions advancing
5d10c.
Shorts in wheat, who expected 1urlher
break that would have enabled them 10 puy
at an additional profit were disappointed the
market starting with December bringing oS12c
and 8e55c as compared with 89q891sc at the
close Yesterday. Liverpool commenced the
davis trading at prices unchanged to 9sd
lower Paris started at 15 centimes decline.
These prices were better than expected IN
view of the terrific tumble in prices late in
Yesterdays market here. For moment after
the oDening the market hesitated. Then
shorts concluded the quicker they covered the
better it would be- and the price of Decem-
ber. which had dropped through neglect 10
S9Ac. went up with a jump to 9OAc. Shorts
had considerable difficulty in covering, anu
not until 9014c had been reached did holders
evince any disposition to let go. After that
the market sagged off again to 9Oc chicago
received 25S carloads and Minneapolis ana Du-
luth 1913 The two latter Thursday OF last
week received l. 1873 carloads, and the corre-
spending day of the year before 9S6. Some
offers in the pit of No spring wheat at
S5c for October delivery, at which time that
grade will be eliminated from the regular
contract grade, attracted general attention
from its discounting the price at which 1t
could be sold at the time for September by
PIC per bu. Later it sod for September at
S5c This caused the price of December TO
run down to $3.50, but shortly afterwards,
when it was announced that 100000 bu OF
No. 2 spring that had been offered at S5c mad
been taken by a shipping firm to export, the
spectators made haste to buy back what
they had been so anxious to sell short time
before The price responded to the demand
thus excited by another rise to 9OAc. In ad-
dition to the local fresh purchases for export
the clearances of wheat and flour from At
lantic ports for twenty -four hours amounted
10 6S0OOO bu Additional strength was lent
the market later by the &c premium which
was commanding at st. Louis over the Chi
cago price December finally sold up to 9G%c
under vigorous demand, and closed at 901s
Q9OAc.
The dry weather and the recovery in wheat
caused corn to rule firm. There was quite
general covering by room traders, and some
let UP in the selling pressure, the conse-
Quence being prices ruled higher from the
start Lower cables and the fact that re-
ceipts, though comparatively small, were lVO
cars over the estimate checked somewhat the
upward tendency. The cash market was
weak. Receipts were posted at AIS cars EN-
ports were 1854, 600 bu. December ranged from
297sc to 2S24c, closing sc higher at 2SA@
29$sc. Oats were fairy active and stronger:
Drought in the West attracted attention and
induced some ouying; A good cash demand
also existed, which helped speculative futures.
Receipts were 1876 cars. Seaboard clearances
were $4,000 bu. December ranged from 2oc
to 19as@19iAc, closing 5sc higher at 1870.
Speculative trade in provisions was small,
but prices were firm ali day at some i'm
provement over yesterdays closing values,
Hog receipts were 1000 less than expected,
and yard prices sc higher. Packers and other
shorts did some buying. At the close De-
cember pork was Zoe higher at $S2712 De
cember lard 1O@121ac higher at $45712Q4. 20,
and December ribs 5@712c higher at $4.T12@
kSO Estimated receipts Friday: Wheat, 275
cars; corn, 550 oats, 450; hogs, 600 head.
The iesd ding futures ranged as follows: