The Saint Paul globe., 1897-08-18
DANpER ON WHEAT
DECLINE OF A FULL CENT INAUGU-
RATED THE SESSION AT
CHICAGO.
LIVERPOOL OPENED WEAK.
EFFECT OF THE EARLY CABLES
ON THE AMERICAN MARKET
VERY APPARENT.
NET LOSS ALMOST TWO POINTS.
Corn and Oats Weak In Sympathy,
While Provisions In the Main
Were Firm.
MARKET SUMMARY.

CHICAGO. Aug. 17.-Wheat had a decided
damper put on it today by the unexpected
weakness of the Liverpool market, and
showed 1&4G17sc decline for the September
option at the close. Corn was weak on the
favorable weather and crop reports, and de-
cIined 12c. Oats were steady, and showed
no change Provisions were sirong in the
main, pork advancing 1212c, while lard and
ribs were substantially, unchanged.
A decline Of 1c per bushel inaugurated the
days business in wheat. September, which
closed yesterday worth S512c, started at from
S4sS6S41sc 1t gradually improved to S5c, and
fell off again to S4l5c, and for over an hour
it kept fiuctua ing between those figures.
December was somewhat steadier after the
confusion of the opening, and narrowed its
discount from September for time. the
Liverpool market at the opening was only
lh65sc higher than it closed yes erday, which,
in comparison with yesterdays 112c advance
here, was a great disappointment and its
effect on the market was very apparent. In
addition to the unsatisfactory advance at
Liverpool the receipts at Chicago substantial
ly confirmed the increased movement that
yesterdays estimates foreshadowed The
number of cars inspec ed into store 432,
compared with go a year ago. Of this num-
Der 39S were new wheat. The Cut-3nspection
was 172 600 bu. Minneapolis and Duluth got
800 cars, against 469 a week ago, and 4SS the
same date last year. New business from
outside was small, and what there was of it
was chiefly for December delivery. Trading
in September was generally in the way of
settling up outside contracts. Cudahy buy
ing of September was quite conspicuous. That
operator was said to have received very d.s-
couraging news regarding the prospects for
spring wheat Long wheat began to come the
last hour of the session, but it did not
look Ike any of the larger lines; in facl the
market was too small to have taken any con-
siderable quantity without a quite severe
break. September gradually declined to SS12c,
but had recovered to S35s@S3Ac at the close.
Corn was weak, from the art, losing sc
during the first hours business, and re-
covering but little of the decline. Crop re-
ports were as a rule of the most favorable
character September opened at 2SA@2S12c
and ranged between that and 277sc, cos:ng
weak at 2S1sc bid. Nothing of particular in
terest developed in oats. The market was
unusually narrow. There was inclination
to yield with corn for a time but the good
eXporl demand checked it. September opened
at IAc. The range was between 175s and
1I%c, 17A being asked at the close. Quite
an active business was done in provisions.
During the first hour the influence of lower
yard prices was felt, but the market sud-
denly turned strong on the buying of a big
line Of pork credit to Armour, and although
some or the advance was subsequently lost
the market remained strong to the close
Lard and ribs were rather neglected. At the
close, September pork was 10@121ac higher
at Ss11RQS.2O; September lard unchanged at
S4.4llA and Sep ember ribs a shade lower al
A9212@4.95. Estimates: Wheat 265 cars:
corn, 700; oats, 400; hogs, rs GOO head
Ihe leading futures Hanged follows: