The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-08-06
MARKET SUMMARY.

CHICAGO, Aug. 5.-The demand for cash
wheat was better here today than at any
time since the recent advance set in, but
the market lacked speculative buying, and
with that powerful support withdrawn the
price declined &c. The decline at the open
Ing at Liverpool was also influential. Corn
was weak on better crop outlook, and de-
clined sc. Oats lost $s619c. Provisions were
weak. declining 1212q22l2c, the latter in
pork.
The foreign wheat market. at the opening,
sent cablegrams indicating somewhat of a
tired feeling amongst them, after their late
sxhausting climb. AS a consequence there
was a drop of from rs to 11ac in September
wheat. Although the buying against puts
was heavy it did not prevent it from drop
ping another lie per Blu, to 76c or 21ac below
the closing price Of the day before in about
Iorty-fve minutes from the opening. Liver
pool noted a decline of I'D per Genital before
trading began here, and Berlin reported a
drop equal to 215c per bushel Very few of
yesterdays cable offers had been accepted,
and but for the taking of five boatloads Of
No. 2 spring by Antwerp that had been Of
fered by a Chicago house, no foreign accept
ances could be heard of here Pyramid
builders had to stand still and see their top
heavy structure topple over with the Earring
of weak cables. The selling out of line of
long wheat in this market had much to do
with its collapse this morning.
The decline brought into play host of rest
ing orders for cash wheat, both here and at
seaboard New York reported sales for ex-
port up to Il o'clock of about eighty-fve
boat loads. Although exporters in Chicago
said they could sell very little by making
direct offerings to Europe, they were, during
the forenoon inundated with bids from the
Ia 2 VIII
they disposed Of several thousand bushels
on bids of that kind, it was as nothing to
the quantity wanted. One and three-quarters
over September paid for the least de-
sirable of the No. 2 spring in store, and &c
for some in private houses. Of today's re-
ceipts II cars were new spring. Minneapolis
and Duluth got 241 cars, against 327 on the
corresponding day of 1895. The total re-
ceived at Western primary markets was
SS9 600 Blu against $4,000 blu a year ago.
Exports from the seaboard were equal In
wheat and flour to SO7, 600 blu. Closing cables
reported Liverpool Id lower than it closed
yesterday. Paris was somewhat higher for
flour and unchanged for wheat. September
opened 1011sc lower, at 77Q775sc, sold be-
tween IT'S and 1880, closing at 75h@75Bc.
No one not previously short wanted to buy
any corn. Longs were only anxious to find
oAler shoulders to transfer their burdens to,
and fresh lines of shorts being put out were
more in evidence than buyers to cover corn
already sold. The weather was all that could
be desired. September opened at 2714c, sold
at 273sc and 27Ac, the latter at the close. A
big business was transacted in oats and the
market was a very lively one all day Lib
eral liquidation of September was the chief
cause of the decline in prices. The Price
Current stated that the crop would be much
larger than was anticipated. This helped the
bearish tendency. September opened at 1T7sc,
and sold off to 171ac, which was bid at the
close. Provisions were weak from start to
finish. The drop in corn had something to
do with the decline that occurred, and heavy
receints of hogs here and in the West was
another influence that pulled down most of
previous days 1213c gain, and ribs all but
Sc of the rise they made the day before.
September pork closed at $S.G71a; September
lard, at $4.35@4.S 712; September ribs at $4 IS.
Estimates: Wheat 800; corn, $50; oats. 400:
hogs, $4,000.
The leading futures ranged as follows: