The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-01-05
WHEAT OFF A CENT
CHICAGO MARKETS SHADED By A
GENERAL SyISH TO TAKE
PROFITS.
OTHER MARKETS AFFECTED.
COARSE GRAINS LOST SHARP FRAC-
TIONS AND PROVISIONS
CLOSED LOW Err.
LIVERPOOL WAS A FACTOR EARLY.
Later the Effect of Strong Cables
Was Overcome by the steady
Selling Movement.

CHICAGO. Jan. 4-Wheat today lost nearly
lie OF the 1850 it gained Saturday. chiefly on
account of the general taking Of profits which
were sufficiently enticing at the opening ad-
vance The Northwest bank failures were
also influential to a degree. Other markets
We're more or less affected. Corn declined
about Sc. oats &c and provisions 21Ac to
PFC Liverpool was a decided factor in
wheat al The start. Opening quotations in that
market were all the way from i'd to led
higher. At the same time it was known that
the amount of wheat on ocean passage had
decreased very heavily, and that the world s
shipments to Europe last week were small
Beerbohm's cable1 the decrease on passage
3,S4l coo bu, and the total amount put aloat
for tire week 1890 900 blu. With that to start
with. wheat which closed Saturday at S47sc
opened with buyers at anywhere from S5c
to S5i2c, with S514c the most general price.
There was abundance for sac at those prices
by people whose previous purchases showed
a handsome profit, considering the heayiness
of the quantities some of them deal in, and
had hand, the result being gradual, but
steady, decline until the price of May was
down to SAC. about IL 80 o'clock Some OF
this selling came from outside points, notably
st. Louis. and was influenced by signal serv-
ice reports OF snow in the winter wheat dis
trict alaying greatly the fears of damage to
that crop from freezing after the almost
precedentedly mild weather that has pre-
vailed.
Chicago receipts were IS cars and s.. 900 Blu
were inspected out of store. Minneapolis
and Duluth got only 301 cars in comparison
with 64S on the corresponding day last year.
The worlds shipments last week, as finally
reported, were 3, 402, 900 bu, against 3,784, 900
bu the week before and 6,621 900 blu the cor
responding week last year. The visible sup
ply showed an increase Of POS, 900 blu, instead
of a decrease of about that much Closing
cables were very firm, with Liverpool at
total gain of I'd since it closed Thursday last
London cd per quarter higher, and Berlin IL
marks higher The market here however, was
kept down by steady selling of long wheat
a great deal of which during the last hour
was caused by several bank failures in the
Northwest: The price of May finally got
down to S9$lc. and closed at S3B684c.
Corn opened a shade better in sympathy
weak the leading cereal declined. Trade
was light, with but little from outside sources.
May opened a shade higher at 257s626c, and
declined with several fluctuations to 255sc
where it closed. Liquidation was the order
OF the day in oats. The market opened
steady, but weakened later in sympathy with
wheat, and on the decline several good-sized
lines were disposed Of The visible showed
an increase of $4,000 bu, which had some
effect. May opened a shade higher at 1870
1888. sold between 19sG19$s, closing easy at
1912c asked. Provisions were rather tame and
appeared to be as much under the influence
OF the wheat fluctuations as were the other
gram markets. The opening in the products
was at some little advance because of the
disappointment in the number of hogs re-
celVed. The market lost the finn esS as wheat
began its decline. Packers were moderate
sellers, and some long pork and ribs were
said to have come upon the market in small
lots. AT the close May lard was PIC lower
at S3.9712: May ribs about sc lower at SO s7ls.
Estimates: Wheat, 4S cars; corn 30: oats
230: hogs. 1000 head u
The leading futures ranged as follows: