The Saint Paul globe., 1897-11-23

CHICAGO. Nov. 22-There was narrow
isrg of the spread between the May and De-
cember futures in wheat today. Enormous
Northwest receipts provoked considerable sell
ing. With the coming of a severe colo wave
shorts in May were not disposed To remain
in that condition over night the result beng
that Nav showed 1z@@sc advance for the day
while December declined &c. Corn and cas-
closed at substant ally unchanged prices
-yrroyls.oss advanced slightly.
Wheat opened unchanged for the May OPP
ton. 9O1sG9O4c, but December was quoted at
lLc decline at the start Liverpool came only
I'd lower to begin with, the signal service
man showed severely cold weather spreading
over the unprotected winter wheat, and the
amount of wheat on ocean passage showed
an increase Of only 10000 bu. These were
tbe reasons for the steadiness in May at the
immediate opening, but before the market
had got fairly under way 1t became known
that the Minneapolis and Duluth receipts were
most discouragingly heavy. The tone OF the
market changed at once Selling was not
very heavy but the market, especially lor
December, was almost without support Inc
consequence was that December wheat. which
had opened at 947sc, declined in short time
to 94c, while May eased off to S97se.
The receipts at Minneapolis and Duluth
were 1871 cars, against 1855 the Monday
previous and 10 the corresponding day OF
1896. Chicago received 173 carloads Out
side of the Northwest receipts, the early news
was not Of especial influence. Paris was %
10 centimes lower World's shipments were
heavy. 9.S05 eco bu, compared with 9,25l,CO)
bu the week before, and 9,S67O00 bu for the
corresponding week last year. The large fig
ures LOST their bear force from the fact that
this country supplied G,65S, 900 bu, while Rus
sia showed shipments of but 2,1l2OOO bu.
AS expected. the English visible increased
literally. > G21 600 bu for the week. The day 5
clearances from Atlantic and gulf ports
amounted in wheat and flour 10 527,0O0 bu.
The one important bull feature and the
one which caused the recovery in prices
which had taken place by midday, was the
small increase in the home visible supply.
1t had been estimated as high as CG0 bu,
but was posted at 10000 bu. Shorts were
good buyers of May during the last part of
the session. That month gradually advanced
to 904c and closed firm at POPS q904c. De-
cember recovered to 9514c and closed at 9jc
Corn was dull and restricted, for the most
part to changing December contracts
at 31s635sc. The fluctuations were confined
to 1sc per bu. Receipts were S95 cars. The
visible decreased 9S,O?1 bu. There was some
scattered liqudations, but nc. enough TO ma
terially affect prices. May ranged from 293sc
to 293sG291ac and closed unchanged at $500
z95sc Quite heavy business was transacted
in oats without any excitement, however.
Elevator people sold December and longs LEI
out small lines. There was considerable
changing over from December to May by the
crowd at 14c difference. Prices we're steady
within a narrow range. Receipts were 57)
cars much more than expected. Visible sup
ply increased 900 bu. May ranged from
221sc to 2l7s@22c, and closed a shade lower
at 22c.
Provisions were slow, but firm. There
was moderate buying by local packers, and
with light offerings, prices were inclined to
advance slightly. Hog prices were frmer,
which also helped the market. At the close
January pork DC higher at $S.221%, jan
uary lard 21@G5c higher at 4.256l4 27l4, and
January ribs unchanged at 1920. Estimated
receipts Tuesday: Wheat, go cars; corn, $50
cars; oats, 45O cars; hogs, SO, 600 head.
The leading futures ranged as follows: