The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-09-21

CHICAGO, Sept. 20.-Wheat today closed
at a &c advance for the December future,
after starting at a decline about twice that
much. The market was a good deal stronger
than the news, and had evidently been over
sold, as there was a good deal of buying
early through commission houses. Corn
was firm and weak by turns, and closed 40
9sc higher. Oats advanced &c and provisions
closed unchanged to SC higher.
Wheat ran Independently of Liverpool to-
day. 1t started weak against Liverpool's
opening strength, and when the latter was
Losing ground, the Chicago market was
gaining. The opening, compared with Satur-
days close at 921ac, was at from 92Ac down
to 91Ac, and few sales were reported at
9I3sc the next moment. Then commenced a
rise, which in an hours time had advanced
december from 91Rc to 9312c. The worlds
shipments of wheat and -four to Europe last
week were 0 ,059, O00 Blu, compared with $780,
600 bu the week before, and 7,446, 900 blu the
corresponding week of 1896. The quantity
on ocean passage increased 1,S40, 900 blu last
week. English country markets were Is per
quarter lower, and Russian wheat in the
London market was quoted Cd per quarter
lower, &c per blu decline in the one case and
1c per blu in the other.
Minneapolis and Duluth received 1913 cars
VI ~ 5oiho ,1O IL i e
and 1.1O8 the similar day of the year before.
Those were some of the reasons that caused
the opening decline. The advance which fol-
lowed was rather difficult to account for.
Apparently the market was oversold, for
offerings were very few and were accepted
SO quickly that shorts grew apprehensive.
Their efforts to cover boosted" the already
buoyant market, and not until 931bc for De-
cember was reached was there any reaction.
New York reported very little foreign de-
mand to begin with, but later dispatches
said the demand for shipment was good and
that everything offered to Liverpool Satur-
day was accepted. Baltimore reported sale
of a cargo Of wheat to Leith and another to
Antwerp. The quantity inspected outward
since Saturday morning from Chicago ware
houses was 275,00 0 blu. The receipts were
459 carloads. The visible increased 1,374, 900
bu, compared with 1858, coo blu a year ago,
making the total now II, lao, 600 blu, against
As, 653, 600 bu then. Closing continental cables
reported but small changes. After the ad-
vance in December to 931ac, it reacted to
92%c, and rose again to 92Bc, which was
the trading price at the close. Although
| the market was active, and fluctuations both
numerous and material, the trade was not
very heavy. A few good-sized buying orders
made sellers reluctant to offer any, until it
had been DID up, ana there was a correspond
ing scarcity of buyers on declines.
Corn was fairly active and stronger, under
general covering by Shorts" Influenced to
some extent by cold, wet weather. smaller
receipts than expected and less increase in
the local stocks, as well as in the visible sup
ply, than anticipated. The buying was gen.
eral, chiefly by the recent large "short"
sellers, while the offering was not very free
until after a fair gain was scored. Receipts
were 951 cars. Visible supply increased 133,
600 bu. Gables closed lower; December
ranged from 30Ac to 30c, and closed about
1c higher at 301ac. Outside Of a small
amount of short covering, the market fo1
oats was practically featureless, and huct-
uated entirely under the influence of corn
Business was dull and range of prices mar
row. Receipts were 523 cars. The visible
supply increased 1,052, 900 blu. December
ranged from 2O7sc to 2O12@2O3sc, closing al
2O5sc bid, an advance of 11sc.
Provisions were firm, though dull. Prices
were stronger at the opening, helped by a
firm hog market and the strength OF corn
A moderate reaction took place on some
scattered realizing, but this out of the way
the market resumed the opening frmness
and held it to the close. At the close July
pork was 2b65c higher at $S.5213@S.55; De.
cember lard unchanged at S4.711a, and De
cember ribs &c higher at So. re
ceipts Tuesday: Wheat, 10 cars; corn, l,O0
cars; oats, AIS cars; hogs. $4,000 head.
The. leading futures ranged as follows: