The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-01-19
PIT TURNED WEAK
WHEAT, AFTER STRONG OPEN
ING, CLOSED LOWER FOR
THE DAY.
FOREIGN DEMAND LIGHTER.
WEAK CABLES AND A HEAVY
CORN MARKET OTHER BEAR
FACTORS,
OATS ALSO SHARED in THE SLUMP.
Provisions Started the Same Way,
But Reacted and Ended at
Slight Advances.

CHICAGO Jan. 1S.-Wheat started strong
today, but turned weak and closed at a decline
of sc from Saturdays closing price. The
poor foreign demand and weakness of cables
were features, the decline in corn also hav-
ing some effect. Corn and oats were both
very weak. closing 12G%sc lower. Provisions
started the same way but turned strong and
closed at slight advances. Whatever strength
wheat had was displayed at the opening, and
was only a mOmen;ary fractional rally, May
opening at from SO7sc to S11sc, compared with
Saturdays closing price Of S0Ac, most of the
trading being done at the lower of the two
quotations. The strength of the market at
the start was in part due to the sudden
change In the weather from spring-like to
winter severity. 1t was partly caused also
by the indication of a small aggregate for
the worlds shipments of wheat and flour
for the week Beerbohm's report made thu
total 5,120,000 bu. but private cablegram
from Liverpool suggested the total as 1885,
600 Blu, or about 2,50OOO0 blu less than the
weekly requirements of Europe. Cables were
disappointment. Liverpool showed only a
Ad advance at the opening and closing at
I'D decline from those figures. There were
practically no responses to cabled offers
from this side, and traders who bought Satur-
day anticipating a demand unloaded again.
The late cables from Liverpool increased the
Ing prices down to S01sc before 1920 o'clock.
The visible supply statement showed a de-
crease of l, $4,000 bu, being heavier than
generally looked for. A year ago, the weeks
decrease 957 900 bu. Chicago receipts
were p carloads; on the similar day a year
ago, they were So cars. Minneapolis and
Duluth received 313 cars, against 361 on the
week before and 572 last year Atlantic port
shipments were small at 1872 900 bu In wheat
and -four. The market recovered from S01kc
to SQ3sc, and the latter price was current
about l O'Clock, but a sudden drive of the
bears was made in the last ten minutes
which reduced the figures to S0hc at the
close.
Corn had a decidedly active session. The
market showed some strength but soon
turned weak on heavy selling by the elevator
people. Country offerings were much in
creased by the cold weather. There was a
closing was weak at close to the bottom
May opened a shade higher at 242a@24Ac
declined to 24Ac and closed at 24A 6243ac
oats opened steady, but a weak feeling soon
developed owing to the cold weather which
caused fear OF heavy movement. The
weakness OF wheat and corn was also felt
AT the decline, a very good business was
transacted. May opened a shade higher at
18B &c, declined to 1910 and closed at 1870
1885! Is PROVISIONS Jared well, notwithstanding
the weakness Of the grain markets which
made its influence felt near the close of
the session. The run of hogs was large. but
an active demand existed Armour being cred
IIeo with heavy purchases, and a slight ad-
vance resulted At the close. May pork
was about 212c higher at So OH; Nav lard
aoout Z1sc higher at $4,000. 1917 and Nav
ribs DC higher at SALTY.
Inc leading futures were as follows: