The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-03-17
THREE-EIGHTHS OFF
VET RESULT OF WHEAT DAMAGE
STORIES AND DENIALs
DECLINE.
EARLY CABLES CAME LOWER.
IT'S FIRST WEAKNESS IMPAIRED
TO THE MARKET BY FOR
EIGN NEWS.
EARLY CABLES CAME LOWER.
,oRN PRACTICALLY UNCHANGED.
Provisions Were Once More Strong,
and on Good Outside Support
Scored Advances

CHICAGO, March 16.-Crop damage reports
md denials of them ran the market today
he result being a net decline of &c for the
fay option. Corn was practically at stand
till, and closed unchanged. Oats declined
&c. Provisions were again strong and ad-
,enced 5@10c.
Wheat opened weak, the first few sales Of
day being made at from 7334c to 73l2c, COM
Jared with yesterdays closing price of 74c.
The chief cause of weakness was the dis
appointment in cables, for, Notwithstanding
,ur advance of q cent yesterday on the crop
care. both Liverpool and the continental
markets were lower. The opening weakness
ont:nued for about half an hour, during
which time May gradually declined to 100
31sc, and July to 7112c. That was the turn
ng point, and before IL o'clock, the price
lad recovered to 741s@7414c, though not with
tut vigorous opposition. July led May in
tdvance, and indicated that all was not well
With the prospects of the growing wheat.
That conclusion was fortified by the action
# st. Louis which sent buying orders here
n bundles, and gave crop damage reports as
he reason for the action. Earlier in the
lay dispatches from Topeka Kas., Of a semi
official character said reports had been uni
.tormly good concerning prospects of growing
wheat up to within two or three days ago,
a
received since. This was more comforting
than the reports of widespread disaster from
that state yesterday, but Indiana, Ohio and
Illinois farmers sent reports of destruction
from too many quarters of their states to ad-
NIT of any but a bullish effect. Chicago
receipts were SO cars, and the amount in
spected out of store was 102, 900 blu. Ship
ments hence by rail were 40,879 bu. Minneap
oils and Duluth received 275 cars against 327
4 week ago, and 567 on the corresponding day
Of the previous year. Export clearances from
Atlantic ports amounted in wheat and flour
together to 2O5, coo blu. Bradstreets reported
q decrease in the worlds visible last week of
LOT, 0G0 bu. The slackness of the milling
demand, and the entire absence of foreign
Inquiry caused many of the scalpers who had
profit in long wheat to sell out and in doing
So they depressed the price of May at the
close to 1890.
Business in corn is very slack. The dull
ness of trading may be shown by the fiuctua-
tons in price which were barely Nc Liver
pool was steady on corn, and receipts were
comparatively light which served to coun-
teract the effect of the decline in wheat The
elevator interests were the only sellers of i'm
portance Exports amounted to 806 600 bu.
May opened a shade lower at 24A @243sc and
recovered to the higher fraction, where it
closed. The feature in oats was the increased
liquidation by May longs, and was the main
cause for the weaker feeling, and the lower
range Of prices. Business quite heavy,
and the session active throughout. May
opened &c lower at tic, sold to 1874 @167sc, and
closed at 1870 bid. Provisions maintained
the strength they have been displaying for
some days. The familiar story Of small hog
receipts started the market with a rush.
being free and heavy buyers. Good outside
support was also given. At the close May
pork was 10c higher at $9.021h; May lard
Sc higher at 81 S213, and May ribs 1Oc higher
at $4.S2B Estimates-Wheat, IA; corn 116;
oats, 1876; hogs, 1000 head.
The leading futures ranged as follows: