The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-07-22
MARKET SUMMARY.

CHICAGO July 21.-Wheat had another 112c
advance today, Notwithstanding the fact that
a continuation of yesterdays enormous cash
business was lacking. Reports OF shipments
from San Francisco to South America, and
large cash sales for export at New York, were
the principal elements Of strength. Corn and
oats closed unchanged. Provisions were firm,
early, but lost the advance on packers SELL
ing, closing 212q712c lower.
The Liverpool market stopped its previously
rapidly advancing quotations at the opening
this morning, and had even fallen back Id
before trading commenced here. That, how
ever, appeared to be a masterful stroke of
business strategy; for, from its effect upon
prices here at the start 1t permitted the
filing of many foreign buying orders which
were on the market. Foreigners are TAX
ing everything in sight" said message from
New York. Liverpool in the meantime re-
covered all its early loss, and the acceptances
of cash wheat, offered from New York by
cable last night were to the extent of about
100000 bu according to kilograms from the
seaboard. The latter items of news caused
a rapid recovery from lie per bu decline,
with which this market started, and in the
course of forty minutes from the opening an
even 1ac advance over yesterdays closing
quotations had been recorded. The domestic
situation was somewhat mixed. The receipts
of new wheat are falling far below last year.
Primary points only got 1900 bu, against
$50 600 a year ago. Chicago received SO cars,
Of which SO were new. The Northwestern
cars amounted to POS. Heavy rains were
ported in the spring wheat country, and
claims were made to the effect that damage
had already resulted from too much moist
ure These reports were, of course, denied,
with the assurance that the rains were very
aGpio1 nd rna1Hr nia11 in thn Dad
river valley. September advanced Sc from the
lowest price made at the opening and re-
tanned a net advance of 1l2c. 1t opened 12@1c
lower at 71&G72Ac, sold to 73Ac, to 1924 to
74Ac to 7S34c to 74Ac to 74Ac, where it
closed.
Corn has to thank the rise in wheat for
recovery from CSC decline at the opening.
The generally favorable reports from the
fields We're. of course, the cause of dispo-
aiion to sell all hard spots, but short
sales on the other hand were speedily COW
cred on any indication of reviving demand.
The trade was almost entirely local, and of
a scalping character. Receipts were 494 cars
The clearances from Atlantic ports were 404,-
296 bu. September opened A@3sc lower at
26$s@26hc, sold at 26H 0263sc, recovered to
2624c, closing with sellers at the figure
Oats. like corn, were not very conspicuous
yet at times some life would develop only
to lose itself very soon afterward The feel
ing was weak, due to the heaviness in the
cash department. Demand very slow
ana oHerlnss nDeral,especaIy from the West.
With harvesting reports favorable and new
grain expected to arrive very soon, there
was scarcely any inquiry. September opened
7gc lower at 175sc, sold between 171a and
1734c, closing at 17%c.
Provision trade was light, and the ten
dency of prices irregular. At one time an ad-
vance was ascribed to strength in wheat
because the firmness in both markets hap
pened TO be simultaneous. but later when
wheat had become still stronger. provisions
began to decline. Pork for September closed
at S.1212; September lard closed at $41712,
and ribs at $4.521%. Estimates: Wheat 30
cars; corn, 2S5 cars; oats, 200 cars; hogs,
10000.
The leading futures ranged as follows: