The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-10-09


CHICAGO, Oct. 8.-Most of today's trading
In wheat was confined to liquidation of out
standing contracts. There VIII be no ses-
sion tomorrow Bulls were afraid it might
rain before Monday and bears were afraid
it would not and the result was that botn
sides evened up as much as possible. The
market closed at precisely yesterday ng-
ures. Other markets, however, showed more
weakness for various reasons, corn declining
&c Oats closed a shade lower and pro-
visions declined 5Q1Oc
Though the Liverpool market opened at a
decline of sd and closed at a decline OF
1a@%d from yesterday, the local wheat mar
ket showed no such disposition. Opening
sales were at 1sQAc advance and soon after
the market was 1A05sc above the previous
days closing price. There was decided
tendency among the local traders to cover
all open deals and remain even on the mar
ket during the coming two days intermis-
sion, both factions being a little nervous
over the possible development in the drought
situation between now and Monday. De-
cember wheat, which closed yesterday at
915sc, opened today at 91A "a 91%c. The shorts
got in their work first. the result being
an advance to 921s692Nc. The price dropped
to 91c shortly afterward and for some time
the market hung around that figure. The
-AN--'
Oct l. showed a total equal to 19, 100000 blu
wheat, against 81 eco bu Sept. l, and
Isl, 300 OO0 blu Oct. l last year The stocks
in store in principal European countries Oct.
l were 81 100000, against 49, 100000 bu
month ago, and 3d. 800, coo bu year ago. Re-
ceipts for the day at Minneapolis and Du
luth aggregated Lips cars, against 1895 last
week and 1,O46 last year. Chicago receipts
were POP cars Primary market receipts were
1873 GOO blu, against 1,169O 600 blu a year ago.
New York reported export engagements of
3S boatloads. The Michigan crop report
showed a total yield of 24,9 600 bu wheat
this year, against 15,72O,G00 blu last year.
This news apparently had as little inf1u-
ence as did the easier Liverpool market.
An important item concerning the Hungar-
ian wheat crop was entirely lost Beerbohm
figured it at SO, GEO. GOO blu, against $1,000, 0GI
as his previous estimate, and against 49,
600, 900 as the crop last year. The Liverpool
weakness was explained by the fact that
there had been hedging sales there against
the No. 2 spring wheat recently sent from
Chicago. 1t is expected that the visible
supply statement Monday will show an in
crease CT 100000 against 100000 blu increase
year ago. The Modern Miller, which has
heretofore been quite bearsh on the situa-
ton, was out in an extremely bull!sh state
ment regarding the unprecedented drought
and Limited area seeded. The effect was to
check the decline late in the day and cause
a rally to 919sc That the price at the
close.
Corn was weak and rather inactive most
of the session, with the trade good deal
on the evening up order. Drought talk
seemed to have lost its influence for the
time being, cash offerings were liberal.
The opening tone was firm with wheat. An
easier tone developed later, Influenced by
the reaction in wheat and indications OF an
early movement of the crop. Receipts were
$50 cars. Exports amounted to 217,GC0 bu.
Cables were I'D lower. December ranged
from 292l to 1885 G29c, closing 291sc. Oats
were dull and moved with an exceedingly
narrow range, prices being Influenced al
most entirely by the action of corn. About
the only feature was the purchase of about
10000 bu December and May on the New
York orders. The cash demand continued
good about 400 coo bu being sold here for
shipment. Receipts were posted at 1863 cars.
December ranged from 1899 to 1879, clos
ing a shade lower at 1912Q195sc.
Trading in provisions was light. The mar
ket opened weak because OF the large re-
ceipts of hogs and some decline followed on
in sympathy with wheat, but the strength
was shortlived and as soon as the strength
in grain began to disappear the market weak
ened. Closing prices were substantially at
the bottom; December pork 10c lower at
$775; December lard &c lower at $4.22, and
December ribs TIC lower at &.45. Estmat-
ed receipts Saturday: Wheat, 235 cars: corn.
$50 cars oats, 400 cars; hogs, $4,000 head.
The leading tutureS ranged follows: