The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-07-29
DESIRE TO UNLOAD
IT HAS THE MARKET CHARACTER
ISTIC OF THE CHICAGO
l. WHEAT PIT.
PRICE MOVEMENT ERRATlC.
SEPTEMBER SHOWED A FINAL NET
LOSS OF ONE AND ONE
EIGHTH.
COARSE GRAINS Go WITH WHEAT.
Bad Reports From Kansas Sustained
Prices in the Corn Pit -four
Il Time.
MARKET SUMMARY.
FINANCIAL

CHICAGO, July 2S.-Wheat was quite En-
ratio today, but kept within a range of 1ssc,
closing 11sc lower for September. Foreign
wheat failed to respond to the strength in this
market yesterday, but private advices by
cable confirmed reports of damage and pr
able heavy shortage in the European crop.
Domestic news was rather favorable, and re-
ceipts at all points today were 80 per cent
over last year. Corn was easy with wheat.
Oats were also a shade worse Provisions were
easy, closing at declines of 212G5c
The Liverpool market was unaffected by the
Continental news that caused such a fever in
the blood of the bulls here yesterday. 1t
responded to the Chicago nc advance Of the
day before by a decline of PC. The opening
here, in consequence was at a decline OF
about nc. The price quickly rose to yester-
days close on reports from New York that,
while Liverpool was weak, Continental mar
kets were strong, ard 60 boatloads of wheat
offered by cable last night had been accept
ed. After the buying, which was inspired by
the latter news, had exhausted itself, another
spell of weakness set in, because Of the lib
crafty of receipts at primary Western mar
kets. Those were largely in excess of last
year. The decline on that account took the
price to 7224q727sc, and when il in turn be-
come stale the Continental demand scare was
stirred up again, and caused another advance,
which was not arrested until 73&@73Bc was
paid about noon. Bradstreet's statement of
the worlds visible was reported showing
a net decrease of 1900 900 bu. That received
a bearish Interpretation from the crowd, and
caused an immediate loss of most of the ad-
vance last recorded, the price shrinking to
&c again In a very few minutes after its re-
ceipt. The increase in this country was only
203 600 bu, being 800, 900 blu less than was
shown by the official visible, indicating fur
Their depletion of the Northwestern stocks in
country elevators. The decrease in Europe
and on passage was 100000 bu. The senti-
creasing receipts scared the longs and the
much-taIked-of shortage abroad was appa-
rently forgotten in the de;ire to unload. Sep
TENDER opened at 1875 Q79c, sold off to 72&c,
up to 7S12c, to 7SAc, to 1874 Q73kc, then off to
723sc which was bid at the close.
Corn started easier, but improved slightly
with wheat, and on the repetition of bad re-
ports from Kansas concerning the growing
crop. These reports were offset, however, by
messages from several large counties in that
state, where the crop was said to be pro-
crossing favorably. September opened at 271s
G267sc, sold at 271s@2TAc. closing at &c.
Oats followed slowly after corn, and the mar
kct was void of feature. September opened
back to 17l3@173sc, and closed with sellers at
the low prices. Provisions opened easier and
continued heavy throughout the session. At
the close pork was &c lower for the day,
lard 2HQ5c lower and ribs PIC lower. Es-
Inmates Wheat. $50; corn, $50; oats, 2S5;
hogs, 1900 head.
The leading futures ranged as follows: