The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-10-21

CHICAGO. Oct 20-Rumors of forthcom-
ing European and enormous export en-
gagements today caused oeeiG ,t;t, raily goi II,
of u. G22sc Corn advanced sole. Oats I'M
nr,ved IbG5sc Pork and lard left on at an
advance of l2Ibc each, and ribs rose it2u1Oc
An oId-fashiGned European war scare, with
all the trimmings, was the controlling lnnu-
ence in wheat at the opening. BEFORE pusl-
ness started here reports from ran me ptnfs
were excited and up equal to 5l2UBAc ana
English coEsCls $sQ12d lower. In addltlon
10 that there were reports from New 1ork
of enormous export engagements Of wheat
BY Europe. Then came a lot or supplement
tai news OF a similar encouraging nature from
the interior. Minneapolis ted OF sales OF
10000 bbls OF -four yesterday OF whicH r
third was for export and there were aoNices
of eight inches of snow in portions OF the
Northwest, which had been relied upon 10
SUNNY good portion of the coming move
ment of spring wheat from first hands. An
enormous business was transacted mere FOR
instance one firm that had bought calls
Tuesday night en- fully 1000 coo blu of wheat
were cred ted with having sold 100000 bu ot
It during the first hour. The demand was
such that the grain was readily ABSORBED
and the price after slight dip on some
prCfit-taking advanced TO a higher figure than
it had yet reached. BY noon December,
DAYS close. at 675s6f6Sc, had advanced to
6SI2c and May kept about lie higher. Re
ceipts here were only 1913 cars, and the total
arrivals at primary markets Tor Two Gays
We're . 652 GOO bu, against 100000 for one
dav year ago. Actual export clearings
were $4,000 bu. The highest prices Of the
day were reached when December rose to
6Slh66SSsc due to the covering OF a large
line of wheat by local Spectator. At its
conclusion the market sagged back to about
the opening figure, December closing at CSC,
The foreign situation was reflected in corn.
which started at a sharp advance. The ca0!e
acceptances were enormous, and there were
sales from here to the seabOard direct of
100000 bu That melted active covering
by shor:s, and the heavy sales OF cash grain
sent the elevator people into the pit to buy
futures There generous realizing Of
profits later en- long property, but the de-
mand was more than sufficient to absorb the
tanned. The wet weather also a bullish
influence early, but predictions of drop in
the temperature tomorrow finally acted as an
Offset. Receipts were 992 cars. December
opened sale higher at 325s632a4c, advanced
to 1929 G227sc. then declined 10 325sc. which
was the selling price at the close.
The speculative considerations which moved
the other grains was shared in by oats.
There was an excellent demand for cash, and
tied. however, by free realizing OF holders
and by country selling. The buying gen.
orally came from shippers against EXPORT
sales. May began AG5sc up at 241s@243sc,
advanced to 242c and reacted to 2414c at the
close.
The bullish sentiment in provisions was
stimulated by the developments in the gen.
eral speculative situation in food supplies.
Shorts were forced to cover and they secured
most Of the property from firms with Eng
fish and Continental connections. Packers
sold literally on the advance, which tended
to check the upward tendency. January pork
opened 15c higher at 1886, declined to s.. 271a
advanced 10 $40 then reacted to $9.321a
buyers, at the close January lard began
7laG1Oc UP at $5.121z@5I5, rose to $3.50 and
closed at $5.1716. January ribs started 56712c
higher at S4.S5. sold off to $3.50, then ad-
vanced to S4.S71a, the closing figure.
Estimated receipts for tomorrow: Wheat,
US cars; corn, 460 cars; oats, 230 cars; hogs,
rs 600 head.
The leading futures ranged as follows: