The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-03-23
BULL NEWS IGNORED
BEARS HAD THINGS THEIR OWN
WAY IN THE CHICAGO WHEAT
PIT.
MARKET WITHOUT SUPPORT.
IN THE END MAY WAS A CENT
AND FIVE-EIGHTHS
LOWER.
THE COARSE GRAINS ALSO WEAK
Corn and Oats Lost ractiOns Partly
in Sympathy With Wheat-PrO-
vision Prices Shaded.

CHICAGO, March 22-Wheat closed weak
at a decline if 15sc. Statistical news as a
rule favored an advance, but no attention was
paid to it, the market at times being almost
entirely without support. Other markets
were weak, partly in sympathy with wheat
corn declining &c. oats &c and provisions
712@1212c. In spite of bullish statistics and
much bad crop news, wheat was dull and
heavy. The extreme dullness and narrow
ness in trade and weakness in the early Liv-
erpool cables more than offset the bullish
statistics and caused good deal of liquida-
tion, which was chiefly responsible for the
weakness. Crop advices from Illinois, Indiana
and Iowa were bad, but those from Kansas
and Ohio were fairly favorable. The visible
supply decreased more than expected, the
figures being 900 blu, and the clearances
from the seaboard were again large-about
$4,000 blu, in wheat and -four, but no demand
for export was reported. Worlds shipments
last week were a trife less than 1900, 000
against $685., 900 blu the week before and s. 400
600 bu the same week last year. Nothing could
infuse spirit into the bulls, however, and the
price within an hour of the opening was
lac below the price it closed at Saturday for
May delivery, crop damage reports from St.
Louis and the fact of that delivery showing
no decline in that market caused comparative
frmness in July.
Minneapolis and Duluth received 1874 cars
Of wheat, against 302 week ago, and 5S1 cars
the corresponding day of last year. Chicago
receipts were II cars, against % a year ago.
st. Louis support to July was finally with
drawn, owing to the beariShness of this mar
ket, and in the last half-hour, bears were in
control everywhere. May started at 737s@7414c
against yesterdays close of 741ac eased off
to 73NQ733sc, recovered to 731A0735ac then
declined to 72Ac closing at 72Ac. Specu-
latlVe business in corn was fairly active and
stun light was kept up between the bulls
and BEARS with the final result decidedly in
the Iatters favor. Much of the weakness was
due to the decline in wheat, although the re-
duction of 1Ac in Western freight rates. an
nounced to go into effect at once undoubtedly
had great influence. Seaboard clearances were
600 bu. May opened &c lower at 245a624&c
and declined to 2412c, where ii closed Oats
were rather dull, although a fair business
was transacted. Fluctuations we're infiu-
enced entirely by the action in wheat Nav
started a shade lower at 16%017c, sold at
17BQ17Ac and closed at 171sc bid The Wis
lble supply showed an increase of 269. 900 bu
which may have assisted in the heavier feel
ing Provisions weak under the in
huence of some realizing by holders who
although still feeling bullishly on the mar
ket, We're said to be taking chances of get
ting their property back later for less money
Inc tendency of price was downward from
the start. At the close May pork was 121bc
lower at S8.721a May lard 715c lower, at
%O, and May ribs Toe lower, at 40. Esti-
mates: Wheat 20; corn, $50; oats, 100; hogs
200 head
The leading fut11roc roroo5 nc