The Saint Paul globe., 1897-05-19

CHICAGO, May 1S.-The grain and privision
markets were again rather weak today
wheat fell the farthest, being affected by weak
cables first, and disappointing worlds visi-
bic decrease later, closing at 11sc decline
Corn and oats closed at sQAc lower. Pro-
visions opened lower, but closed at substan-
TALLY unchanged prices.
In wheat, Liverpool showed a severe break
at the opening, the first quotations from
there showing a I'D decline and later record
ing Id break. That would have been enough
of itself TO have started this market weak,
but with the almost perfect weather and 622
carloads of wheat received at Minneapolis and
Duluth in addition, there was apparently no
hope for the market. The first trades for
July made simultaneously in the pit, were
over a range Of from Tic to 705sc-prncipally
at 70%c. Yesterdays closing price was 71Ac.
Some heavy traders were satisfied with such
a nice clean profit overnight on large lines
and were about the only class of buyers to be
found. This was sufficient to steady the
market, however, and trading for the next
hour was done at from 1sc to Ae higher than
the bulk of the opening transactions. Buying
later became more prominent, the fact of the
market receiving such support in the face of
the discouraging news, unsettlng the conf
dence of the smaller shorts and causing them,
too, to become buyers. The result an ad-
vance to 711Ac. New Yrok reported clearances
of wheat and flour at more than 100000 bu
for the day and late cables brought buying
orders. The market held comparatively firm
until the receipt of Bradstreet's report of the
worlds visible, showing a decrease of 1885,
900 bu, whereas 5000 900 bu more decrease
had been looked for. The decrease in the
worlds stocks the week before was about
5000, 600 bu. The making public Of those fig
ures caused a decline to 7O1hc. Rumors of
heavy export business at the seaboard caused
q slight stiffening of prices just before the
close, the final quotations for July being
7O5sc.
Corn was easier, but showed more
strength than was expected, in view of the
fine weather and the weakness of wheat.
Shorts were liberal buyers ON the opening
break. This was the sustaining feature of
the market. Elevator people were sellers.
Exports were 864 900 bu. July opened 1sc
lower at 24s4c, sold between 24Nc and 245sc,
closing at 2iFs4AAo. The market for oats
was uninteresting, and q small business was
transacted Prices were almost at a standstiH
for some time at the opening, but when wheat
commenced to go down oats did ltkeWise
There was a good cash business at lower
prices. July opened at Ac lower, at 17sac.
1t advanced to 17S018o on covering by shorts,
then declined to 17a4c, where it closed. Pro-
Visions were rather puzzling, some dealers
buying the market, then selling it off with
apparently no other object than to keep the
market moving. Opening prices were weak
and lower on the heavy hog receipts West.
Packers gave the market good support. At
the close July pork was unchanged at $S.S21s;
July lard unchanged at $3.50, and July ribs
Bye lower at $4.471k. Estimatesi Wheat, 6;
corn 125; oats, 300; hogs, 81, 900 head.
The leading futures ranged as follows: