The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-06-25
MARKET SUMMARY.
FINANCIAL.

CHICAGO, June 24-Fear for a July cor
ner hung like 4 storm cloud over the wheat
market today and drove the shorts to cover.
The result of the days trading was an ad-
vance Of 1Is61l4c in the July option. Corn
and oats were strong. gaining about re and
&c respectively. Provisions were rather
easier. closing 2I2c higher to sc lower.
In wheat the terror of July corner, which
became very acute the curb yesterday
afternoon had not subsidized when business
commenced today, and kept breaking out
in fresh spots every once in awhile during
the forenoon. 1t the only matter of
absorbing interest in the market, the usual
routine statistical and crop news being al
most entirely ignored. Very little of a relia-
BILE character could be learned in regard TO
the threatening corner, and this perhaps
made 1t all the more formidable. Business
for an hour was confined chiefly to July,
but September began To attract more
teption later in the day, and, in fact, became
the more active of the two options. July,
which closed yesterday at 69Ac, commenced
today at 7OlsG70Ac and edged its way up to
70l2c before people who needed it had be-
come satisfied. 1t got down to 69$4c very
quickly after the first rush of buying Or
ders had been filled, but nervously
Jealous of any attempt to buy 100000 bushels
or 200 900 at the decline to make it rise
in little spurts any such attempt. Chi
cago received - carloads and 1861 600 bu
we're inspected out. Minneapolis and Du-
luth reported 231 cars against 499 the cor
responding day of the year before. The
exports Of wheat and -four from the prin-
cipaI Atlantic ports were equal to only 169,
OOO bu The production of flour for the week
at the chief milling centers of the West was
407 coo barrels against 424, 600 barrels the
week before and 354 eco barrels the similar
week of last year. The shorts continued to
show nervousness to the end. The efforts
of shorts TO cover kept prices webbing be-
tween 69%c and 7Ol2@703sc, and when the
closing bell rang July selling at 1880
7O12c.
Corn was steady and during the latter
part of the session displayed considerable
activity. Crop reports were for the most
part unfaverable it being claimed that an
excess of rain had seriously interfered with
cultivation. Railroads denied the rumors
Of rate reductions Shorts were active buy
ers. Receipts were posted at SAC cars. July
opened unchanged at 243sc, and advanced to
25kc closing at 25G 251sc- Oats dragged
along in a featurcless manner, until the
sharp up-turn in corn took place. Then
shorts woke up and made the market a
lively one for time Outside of this little
burst of activity there was not much OF in
terest to the market. Local receipts were
292 cars. July opened a shade lower at
177sc. and advanced to 1S1sc, where it closed.
Provisions started strong and higher on
firm hog markets. and covering by shorts
sustained the advance for some time. Then
realizing set in, all the packers and many
OF yesterdays buyers taking a hand, and
the advance gradually melted away. The
market was easy at the end. July pork
lower at So 80. and July ribs unchanged at
S4 42Iz Estimates-Wheat, cars; corn, 600
bu; oats, S37 bu; hogs, $4,000 head.
The leading futures ranged as follows: