The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-12-28
MARKET SUMMARY.

CHICAGO, Dec. 27.-All the activity of to-
days grain and provision markets was con-
fined to the morning During the afternoon
dullness all the advance in wheat caused
by smaller worlds shipments and the
Oriental war talk was lost, May closing at
A03sc decline. Corn and oats were both
very strong and advanced 12c and Csc re-
spectively. Provisions closed at slight de-
clines.
Wheat opened firm at from &c to asc for
May over the closing price of Friday, initial
sales ranging from 9412c to 943sc With few
sales of moment later at 942sQ9412c An
active trade was done for an hour and the
market for that length of time maintained
the appearance of strength with which it
started, May selling as high as 945sQS4Ac.
It once touched 941sG94Ac, but under the
demand from shorts, which was active during
the first hour, it reacted again to 945sc and
held around that figure for some time. Sub
sequently trade slackened and the price
weakened slowly to within half an hour
from the close Apparently the only reason
for the strength was the new European war
scare, as nothing else of a bulish character
was contained in the early news.
There were several bearish features in the
days news, chief of which was an esti-
mate made in a cabegram from Buenos
Ayres making the probable surplus of wheat
for export from Argentina 40,O1OGOO bu. The
latest previous estimates from that country
suggested an exportable amount Of about
20 10000 bu. Foreign markets were closed
on account of Christmas holidays. but New
York reported the receipt of some buying
orders for futures on European account and
at least one 80 600 blu lot was bought in the
pit there on an order from Liverpool. The
Liverpool Corn Trade News estimated the
worlds shipments of last week at SASS, coo
bu, exclusive of Baltimore shipments. The
United States contribution to last weeks
total was 4757, 900 blu. The receipts in Chi
cago since Friday numbered 7s5 cars by rail
from outside, 213,500 bu unloaded from a
vessel in the river, besides IA 600 bu end
1914 carloads transferred from unlicensed to
licensed elevators. In all, 100000 blu was
estimated to have been added since Friday
to the. contract stocks in regular houses.
Minneapolis and Duluth received 1,6C7 cars
since Friday, compared with 995 a week
ago and $50 on the similar period last year.
The visible supply increased 1,C51OOO Blu,
compared with a decrease of 100000 blu the
year before. Exports for the day from At
lantic ports equalled 491 900 bu. The heavy
receipts here and at the Northwestern points
caused considerable realizing and short
selling by professionals, this and the late
dulIness causing decline in May to 933s
Q93Ac. At that price a little better support
was given, and by closing time May had re-
acted again to 94c.
Corn, for the greater part of the session.
was very active, with an increased outside
interest. Many wheat traders were in the
pit bidding for corn, and shorts were also
active buyers The heavy weeks clearances,
1890 coo bu, the lack Of country offerings
and the European war news were all fac
tors and the market ruled strong. Trade fell
off considerably late in the day, but prices
held firm to the end. May ranged from
S01sc to 295s @29a4c, and closed 1ac higher
at 3O1kc. In it's essential features, market
for oats was almost a counterpart of corn.
The market started very firm and active,
with local shorts, slightly alarmed at the
strength Of corn, buying freely. In this
market also the war talk was factor. May
ranged from 23Ac to 23asG2312c, closing PC
higher at 235sG 23Ac. Provisions were quite
active and firm during the morning. The
opening was rather weak, with quite free
realizing and selling by packers. The mar
ket soon became frmer on good general
buying but later in the day the advance
was all lost, the close being easy. May
pork closed sc lower at $S.9212, May lard I'M
changed at $4.7O@4.721a, and May ribs PIC
lower at $4.55. Estimated receipts Tuesday
Wheat, ASS cars; corn 600 cars; oats, GU
cars hogs. 900 head.
The leading futures ranged as follows: