The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-07-17
MARKET SUMMARY.

CHICAGO July l5.-Wheat was emphatl-
cally the whole thing" today. 1t opened
at 12d9sc advance for September, and shorts
were given a scathing spell during the ses-
sion. At the close September was selling at
&c advance over yesterday. Corn and oats,
in spite of natural weakness, were carried
along with the current, each closing about Ac
higher. Provisions closed at advances rang
ing from 7lac in pork and ribs to l5c In lard
The sharp advance at Liverpool was the
lever that moved wheat and incidentally all
the other markets.
In wheat there was but one thing talked
of and acted upon at the opening. That was
the sensational action of the Liverpool mar
ket an advance of 12d having been recorded
there before trading commenced here. 1t was
a signal for a general rush of shorts to
cover, and caused a Loose jump, opening
sales of September being made at 6S%q6SBc
yesterdays closing being 6SAc. Small re-
ceipts of new wheat became a factor in the
strength after the glamor of the Liverpool
advance began to wear off. The Chicago re-
ceipts were small at is carloads, only Of
which were new. year ago Chicago re-
ceived 240 cars of new wheat. Total receipts
at Chicago. St. Louis, Toledo, Detroit and
Kansas City were 122, eco bu compared with
S32, 600 blu last year. New York wired early
there on either side of the market for foreign
account. Minneapolis and Duluth receipts
were 312 cars against 26S year ago. EX-
ports from Atlantic seaboard were equal in
wheat and -four to 100000 bu. New York re-
ported a scarcity of spot wheat. Baltimore
advices were that France had accepted a
considerable quantity of wheat offered from
there last night by cable The latter piece
of information was not known in Chicago
until about an hour from the ciOse. Septem-
Der had gradually eased off to $3.50 from real
izing by holders, but for few minutes after
the reception of the Baltimore advices had
jumped to soc. Near the close wild rumor
was current to the effect that it was con-
templated in France to remove the import
duty, and that was given as the reason for
a wild scramble for wheat which marked the
last ten minutes trading. September rose to
70Ac, and that was the price at the close
Before the crowd left the pit 7034c was being
bid
Corn was dull and during the greater part
of the session easy on the fine weather and
lack of speculative interest. Shorts, however,
could not stand the pressure of the strong
and excited condition of wheat near the close,
and were driven to cover, the result being a
recovery of all the early decline and a frac-
ton besides. The closing was steady at top
figures. Local receipts were 513 ears. Sep
TENDER opened at 26$sc, declined to 261sc, and
advanced to 26l2Q 265sc, where it closed. In
oats the short element ran the market about
to suit themselves. Early they sold quite
freely, taking their cue from corn traders,
but later they too were forced to take back
some of their selling. The advance IN wheat
made a firm feeling at the close. Local re-
ceipts were III cars. September opened at
17BG1Sc declined to 17%c, and recovered to
1Sc Provisions ruled firm, the best prices
of the day being obtainable at the close. The
opening was firm at some advance, due to
the smaller hog receipts than expected. This
was followed by some reaction on moderate
selling by packers but the market later
fell in line with the wheat procession and
closed strong. At the close September pork
was $7.5712. September lard $4.0712@4.10, and
September ribs $40. Estimates Wheat, 16
ears; corn, $50 oats, 2S5; hogs 11,O0O head.
The leading futures ranged as follows