The Saint Paul globe., 1897-10-24
MARKET SUMMARY.
FINANCIAL


CHICAGO, Oct. 23-The bull sentiment
which prevailed in wheat at the close last
night was apparent today, and despite the
efforts Of the bears the cereal was strong
throughout the session, showing an advance
of 1sc for May and &c for December. Corn
was easier and held in place by the strength
of wheat. Oats followed corn, and price
changes were of no consequence. Provisions
were weak. Pork was off 15c, lard 71s@1Oc,
and ribs 21k@714c. At the opening, commits
sion houses had all the wheat buying orders
they could manage for half an hour and sell
ing was confined chiefly to the people who
had good profits in long wheat, which they
were willing to accept The elevator people
also had little wheat to sell, presumably
against purchases of cash wheat in the coun-
try, at least that was supposed by the traders
in the pit, to be the basis Of sales by Armour
6 Co. and the Weare Commission company of
about 100, ,000 bu EACH The sales referred to
were made at from 94@941sc for December
delivery, and the price rose Immediately
after to 945sQ941ac above the closing and
highest price 81 the day before. Liverpool
up 14d above yesterdays closing prices
because of the more material gain here.
The exports from both coasts this week
amounted to 5,220,000 bu; not any more than
had been foreshadowed> by the daily clear
of the European shortage this country is
being called upon to make good. The do
mestic receipts are diminishing, while the
exports keep apace. Chicago receipts were
139 cars Of which Is were contract. The
receipts year ago were 1888 cars. Minneap-
oils and Duluth got 971 cars, against LIS
the preceding Saturday Argentina shipped
no wheat this week, against $4,000 bu a year
ago. The days clearances from Atlantic
ports were 433 900 bu, wheat and -four to-
getheT.
The December future was the stronger to-
day, May getting from 1c discount, as it was
yesterday 1880 today. The advance referred
to above when December rose to 943s, was
followed by a reaction to 1885, but it quick
ly recovered again to 94c, and later, on the
receipt of the Paris quotations, showing an
advance equal to 91sc per bu for the January
and April options the early bullshness re-
vived, December rising to Csc and May to
$3.50 at the close.
Corn moved through sympathy with wheat.
Car-lot receipts were not as large as anticipat-
ed, 533 cars being inspected in, and the out
inspection was moderate at 273000 bu. De-
cember opened at from 26h626%c. The low
est and closing price was 265se. The greater
part Of the trading in. oats was centered in
May and was greatly in the way of profit
taking by these who bought yesterday. De-
cember opened at 1S3lG1S7sc, touched 1870,
dropped off to 1880 and closed at 1885 @D1S%c.
May ranged from 211ac to 211sc; was offered
at 21Ac at the close. Hog products had
sharp reaction from the advance of yester-
day. December pork opened at S7.9713@S and
sold off to $685. December lard started at
$4.421a and declined steadily to $4.3504.9712.
December ribs ranged from S4571aQ4.6O down
to s4.571a. Estimated receipts Monday:
Wheat, iS5 cars; corn, 455 cars oats, 24O
cars; hogs, AZ, 600 head.
The leading futures ranged aS fOllOWS