The Saint Paul globe., 1897-05-27

CHICAGO, May 26.-Wheat today closed at
\ decline of &c. News affecting the market
was about equally divided the most depress-
Ing feature being the dullness OF the trade
Other markets were similarly affected, corn
declining 3-16c, oats bc, and provisions 71a
@1Oc.
In wheat, the early news was of mixed
character and contained grains Of comfort
for both bulls and bears, which fairly bal
anced each other so that for an hour the
wheat market did not get far away on either
side from last nights closing price. At the
end of that time, however, 1t ceased to re-
cover from Declines and kept much more
steadily on the down grade. Opening at 7o7s
@D703sc against yesterdays closing price OIL
701ac July sold at 70&c for moment, heio
around 701hc for some time, then SLOWLY put
surely declined, reaching 69Bc before IL
o'clock. The Liverpool market was one OF
the bearsh factors, inasmuch as 1t opened
I'D lower and closed with loss OF as much
more, or Id decline for the day. OF the
early news of bullish character were the
dispatches concerning the French crop, and
a reduction in the volume of the movement
in the Northwest. Paris cables reported
wheat firm on prospective small crop and
threatening weather Minneapolis and Du-
luth reported receipts Of 307 cars, as COM
pared with over 500 cars yesterday and 262
cars the year before. Chicago got seven cars
and 10000 bu were inspected out OF store.
st. Louis sent chinch bug and Hessian fly
stories, but sent also selling orders for wheat
Duluth wired that after this week, the mills
there would need all the wheat likely to
arrive there. Export clearances OF wheat
and -four from the four principal Atlantic
ports were equal to 221, 600 bu. The weak
ness did not arise so much from bearlsh
news as from the fact that trading was dull
and support spasmodic and nearly all
condensed in the first hour That out Of the
way the market dropped. The demand for
cash wheat from country millers revived at
the decline and New York reported similarly
of the export inquiry there. This caused
rally to 7O1sc, but soon broke again to 691s@
695sc. The latest trading was at 69%c.
Corn was weak, made so by the continual
ly increasing offerings West. Local receipts
were heavy, 551 cars, and estimates for to-
morrow were still larger. Elevator men
were heavy sellers, but prices kept within
a narrow range Notwithstanding. July opened
at 24A@24asc, declined to 24c, and closed at
24624Bc. Speculative interest in oats was
very light. Prices ruled a shade lower, with
corn and heavy receipts, 1892 cars, but the
feeling, as a whole, was steady. fa1r
shipping inquiry existed for cash oats. July
opened shade higher at 17&c, declined to
171kc and closed at 171a@179sc. Large re-
ceipts of hogs made another weak day for
provisions and the market was weak from
the start Very little support was given and
although selling not very heavy, it
was persistent enough to force prices stead
lily downward. AT the close, July pork was
10c lower at $S.0212; July lard, 10c lower at
$3.6212, and July ribs, TIC lower at $4.4712.
Estimates Wheat cars; corn, $50 cars;
oats, 470 cars; hogs, 49, 900 head.
The leading futures ranged as follows: