The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-01-30
MAY WHEAT 1T 70
EIGHT CENT LOSS FOR THE WEEK
MARKED AT THE Low
POINT.
DAYS DECLINE ONE-QUARTER.
ON GOOD EXPORT BUYING THERE
WAS A RALLY BEFORE THE
CLOSE.
JAYS DECLINE ONE-QUARTER.
COARSE GRAINS NOT AFFECTED.
Corn and Oats on Independent
Strength Scored Substantial
Fractional Advances.

CHICAGO, Jan. 29.-Wheat sold for time
Today at 73c marking an eight-cent decline
for the week. 1t recovered later and closed
steady at about Bloc decline from yes
terday. Disappointment at the poor cash
business was the principal reason for the
decline, the recovery being on the good ex-
port business late in the session. Corn and
oats were Independently strong, advancing
sc and &c respectively. Provisions ad-
Vanced 215d715c.
Wheat opened weak in continuation of the
approach to decentralization, which character
lied its closing the day before. 1t was
rumored that a big line of long wheat was
hanging over the market and fears that this
would be thrown overheard caused a very
wobbly beginning to the days business. May,
which sold for 1850 at yesterdays close,
opened today from 1850, down to 741sc. The
first Liverpool cables, which came in before
the opening here, showed declines from a to
I'D. This however, was looked upon as
merely rejecting yesterdays loss on this side,
and any weakening effect which the Liverpool
decline may have caused was neutralized when
5Gce1d c. & IN; snow1ng ltial
recovery. This coupled with the smallness
of the local and Northwest receipts caused a
better feeling, and under liberal buying by
shorts May advanced to 75Ac. Flour COM
mission men reported the best demand from
the United Kingdom that they have had in a
long time, and this was no small factor in
Strengthening prices. Chicago got twenty
car loads as compared with AS a year ago.
and Minneapolis and Duluth together received
1874 cars against 276 a week ago, and 511 on
the corresponding day Of the year before.
After "A 5-16c had been reached, the market
took a sudden turn. On account of the
heavy drop in prices this week, a good cash
business had been expected, and as the ses-
sion wore on, and this failed to materialiZe,
liquidation on a large scale set in once more.
For the time the market was rather democrat
lied under the heavy offerings and it was not
until 13c had been recorded for May that
reaction took place. Then the savior of
made itself felt, and the price went up almost
as suddenly as it went down. 1t finally re-
covered to 743sq7434. which was the price
as the closing bell sounded.
Corn opened steady and ruled firm, with a
very good business. 1t did not participate in
me weakness of wheat but a good demand
from shorts existed and as offerings were
tight the market scored a substantial advance
May ., opened ashade lower at 2Sa4c, advanced
TO 2472c, and closed firm at 24ssc Oats
ruled higher, helped a good deal by the
strength Of corn. People who sold short
yesterday covered their lines TODAY and
nag nag some dltil5uity IN doing so, there being
quite a scarcity of offerings. The market
was decidedly strong during the closing hour
May opened shade lower, at 173s6171bc ad-
Vanced to 1890, closing at 1SHc Provisions
Tuled strong during the first half of the ses-
sion, owing to light receipts of hogs small
oner1ngs and some offerings by shorts Real
lzlng late in the session caused some reaction
but most of the advance was retained. Nav
pork cIoslng TIC higher at $765; May lard
ABOUT 212c higher, at "a; and May ribs about
212c higher, at "a .0212. Estimates: Wheat 20:
corn, $50; oats. 200; hogs, $4,000 head.
Inc leading futures ranged as follows: