The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-02-09
NET HALF LOWER
CHICAGO WHEAT CLOSED DOWN
AFTER AN EARLY BULGE OF
A CENT.
VISIBLE CUT A FIGURE.
DAy,s HIGHEST PRICE TOUCHED
WHEN THE STATEMENT WAS
POSTED.
REALIZING PULLED PRICES DOWN.
Slump Gained in Momentum Up to
the Close of the Session
Grains Weak.

CHICAGO, Feb. S.-Wheat closed today
at about lac decline, after having sold nearly
cent above Saturdays close. Figures on the
words visible supply cut quite figure in
the days speculation. Corn and oats were
radically weak corn declining sc and oats
&c. Provisions were firm. but show trifing
changes. The news that traders in wheat
had to start their operations on was not very
encouraging for a bull market. Liverpool
was only I'D higher at the opening than
it closed Saturday which was disappointing,
inasmuch as it was a very inadequate re-
Spouse to Saturdays I'D advance here. Beer
bohm's report on the worlds clearances of
wheat and -four for last week, which came
in before the opening, gave the figures as
$500 coo bu, and the heavy increase thus
shown had a marked effect. Minneapolis and
Duluth receipts were not encouraging by
any means the total for the two places be-
ing 81 cars against 422 last week and Cos
of the CORES ponding day of the year before.
Those were the circumstances under which
May wheat whcih closed at nc on Satur-
day. opened today with sellers at from 1850
down to 7612c But the market became strong
Immediately after the opening. The early
figures on the worlds visible supply indicated
a very large decrease, so large in fact that
It made shorts scramble to cover their lines.
Holders of wheat were not disposed to let
go, the consequence being that the price of
May got up to 777sc before any material reac-
ton occurred. Meantime the Atlantic port
clearances were reported at 435 900 blu. A
decline to 76%@767sc occurred when an in
crease in the English visible was announced,
but this was quickly succeeded by the ad-
vance to 777sc the high point of the day,
which occurred on the posting of the world S
visible figures showing a total decrease of
hrl oaI
slowly at first, but gaining momentum as
the session drew to a close. 1t was due
almost entirely to realizing, though this was
undoubtedly accelerated by the worlds ship
ments, which last week were 1000, 900 bu
larger than the week before New York
reported that foreigners had turned free sell
ers there. May finally got down to 761bc and
closed at 7615G765sc.
Corn maintained its price well, until the
closing drop in wheat, but during the progress
Of the latter it emulated wheat's weakness
ana closed at decline for the day of Csc
per bu in May. Receiving houses were active
sellers. The visible supply increased 1 1874 900
bu May opened shade lower at 24Ac, sold
at 24AQ24$sc, and declined to 23B@24c, where
1t closed. Oats were quiet during the first
part Of the session, but with a tendency
towards frmness. Later, however, the mar
KeL turned very week, partially through
sympathy with wheat and partly through
1oeral selling by the professional shorts. A
Il1Tea-Fy business was done at the decline. May
opened shade lower at 1724 G17Bc, sold at
1734c and declined TO 17a4e, establishing low
point for the crop. The market closed at
17Ac. Provisions were we'll sustained amid
the bearish feeling in grain, a firm hog mar
ket, with comparatively light receipts, CIV
ing tone to the market. The closing weak
ness in grain sliced off most Of the days
slight advance, however. At the close May
pork was about 212c higher at $7.65; May lard,
2l2c higher at $3.S21a. and May ribs 21ac
higher at 1921. Estimates: Wheat Is
cars; corn, $40 cars; oats, 400 cars; hogs,
26,GG0 head.
The leading futures ranged as follows: