The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-07-02
MARKET SUMMARY.


CHICAGO. July 1.-THE grain and provision
markets opened today with a weak tone, at
shade under yesterdays closing price, but
improved as the session progressed, and
wound up firm for grain and strong for pro-
visions. The near approach of the holidays
made trading very dull. Foreign crop dam
age reports helped wheat Wheat closed so
&c higher for September, and &c lower for
July. Corn closed a shade higher, oats 1sc
higher and provisions 5dl2l12c higher.
Except that this. was the first delivery day
for July contracts, wheat opened under
similar combination Of bearish influences to
those Of the previous day. The July deliver
les. made previous to the opening of the ses-
sion. were quite insignificant, a careful esti-
mate making the quantity of wheat only 80
COO bu. That for awhile prevented the price
from yielding to the other quite bearish in
fuences The latter, however, could not be
for long ignored and began to exercise their
their legitimate effect about ten minutes after
the opening. July, which closed yesterday at
691sc, opened at from 69ls to 69Ac, and half
an hour afterwards 1t could be bought for
6SAc. September started a shade lower, at
641ac, sold at 642c, and then down to 643sc.
Liverpool opened SD lower and reported
stocks of wheat 1000 Blu larger than June
l. The latter item of statistical information
was rather a surprise, considering the weekly
statements of the great deficiency of i'm
ports compared with the estimated require
ments. Chicago received ten car loads OF
wheat. Minneapolis and Duluth reported re-
ceipts of 800 car loads, compared with 40S
cars the corresponding day of the year be-
fore. The Atlantic port clearances were lib
eral, at equal to $3.50, 600 blu in wheat and
flour together. The greater part Of that was
shipped from New York. The closing cables
made the days decline in futures at Liverpool
I'D. Business in the wheat pit was not heavy
to begin with, and soon simmered down to
midsummer drowsiness among the moder
ate number who braved the steamy neat Of
the pit for the off chance of picking up Lie
on 5000 bu 10000 Blu. The tone of the mar
ket improved, however, notwithstanding the
smallness of the trade. The Improvement
became more marked when New York reported
the Danubian crop to be 40 per cent under the
average. Good seaboard acceptances o. last
nights cabled offers were also influential.
The weakness of July due principally to
neglect. 1t improved, however, late in the
session. and at the close was bringing 6S3sc
September, after selling down to 6iRc, grad
ualy recovered and closed at GAGE bid.
Corn was irregular, opening steady, be-
coming quite weak and becoming decidedly
strong later. The weakness was the result
of favorable weather, and the ensuing
strength was caused by covering by shorts
Trading was light and consisted mostly Of
changing from July to September. Local re-
ceipts were 5l9 cars September opened I'M
changed, at 2594 @257sc. dec med to 25l2G255sc
and rallied to 25s@20c, Gearing at 25sc
Liquidation in July oats caused a weak feel
ing to prevail in the market for awhile, but
through sympathy with wheat and corn, re-
action occurred later. Business was fairly
heavy, though largely in the way OF eX-
changing The weakness in the cash article
was again a feature. Local receipts were 440
cars. September opened &c lower, at 17l2c
sod up to T%4c, and closed at that price
Provisions. as usual, were affected by the
condition of the hog market, and opened weak
The market advanced on a good demand, then
went back again, under LIBERAL selling. Late
in the session general N.yiGg set in, which
continued to the close, good advances being
made all around. At the colse September pork
was 12l2c higher, at $780, September LARD, 55c
higher, at S4.20. and September ribs about sc
higher at $l.57b. Estimates: Wheat, III;
corn, 500; oats, 345 hogs, $4,000 head.
The leading futnreS ranged as ToiloWS: