The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-07-08
MARKET SUMMARY.

CHICAGO, July Corn today maintained
the leading position it assumed on change
yesterday, although all the markets showed
more or less revival of speculation. Corn,
under heavy buying in the last hour, closed
at 12c advance after selling that much be-
low yesterdays closing price. Wheat,
helped by higher foreign markets and corn,
closed at 12sc advance Oats closed I'M
changed and provisions unchanged to sc
lower.
In wheat the foreign market gave a good
start in an upward direction to the prices
Of the article here. New York had buying
orders from abroad to begin the day with,
and commission houses here had also direct
orders on the same side of the market, both
from the United Kingdom and the continent.
Liverpool reported an advance of 12d. Paris
was said TO show a gain of franc for flour.
St. Louis had a more bulish view of the
foreign situation than did the traders here
to judge from the way they inundated their
Chicago brokers with buying orders at the
opening and kept them up for the next half
hour. The local contingent was not slow to
follow the lead of st. Louis and bought
freely for a time, but they were quick to
take their profits when 12c advance was re-
corded. Opening sales for September were at
65G65Bc, the price it closed yesterday. 1t
advanced to 655s G6524c without stopping, then
Slowly Sid to 65Ac. The Atlantic port clear
ances OF wheat and -four were equal to $780,
000 bu. The Chicago receipts were II cars.
Minneapolis and Duluth reported receipts of
167 cars, compared with 211 a week ago and
430 last year. The smallness of the North
west receipts was also a Strengthening fac
tor. The market had a strong up turn in
the last hour on the foreign buying reported
at New York and the sharp advance in corn.
September shot up to 6612c under the buying
which ensued, and closed firm at 669sQ661Rc.
Corn was the leading market on the floor,
heavy business being transacted. There
was nothing alarming in the morning news,
but the realizing which took place was not
so great expected. The market was quite
evenly balanced up to the last haf-hour,
with realizing at the top and buying at the
declines equally conspicuous Late in the
session material increase in outside orders
sent prices up in a hurry. September OPP
ened at PA Z7l2c, sold at 271sc up 10 279sc
back to 26;sc, then jumped to 277s 2Sc,
where 1t closed. Local receipts: 500 cars. In
oats the only feature to the market was an
Increase in outside speculation. The market
showed no particular independence, simply
following the lead OF corn, but there was not
enough business to cause fluctuations of note.
Local receipts amounted to 452 cars. Septem-
Der opened unchanged at 1S1sQ1SAc de-
clined to 177sc and rallied to 1SAc, where It
closed. In provisions there was a disposition
to sell by the people who have recently
given the market its best support The OPEN
ing was lower on liberal hog receipts, and
under free packer offerings the market slid
off. Part of the decline was recovered later.
AT the close September pork was about I'M
changed at S.1212; September lard SC lower
at S41212. and September ribs about 2ho
lower at $4.45G44712. Estimates: Wheat, 8;
corn, $50; oats, 1856; hogs, SO, 0C0 head
The leading futures ranged as follows: