The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-09-30

CHICAGO Sept. pa break of SAC took
place in September wheat today. The weak
ness in the cash article effected futures De-
cember closed at 1c decline. Weak outside
cash markets, heavy primary receipts and
rese.ling Of wheat here by New York ali
counted against the cash price. ccEn de-
c.ined 3sG12c, and oats AW$sc Provlslors
We're weak early, but closed steady at small
advances.
The opening in wheat rather indicated
bull market, although It was difficult to find
any explanation of the apparent inclination
among traders TO buy beyond the fact that
Liverpool did not show the decline naturally
looked for after yesterday S break here
There were numerous fair-sized buying or
ders at the start with a scarcity OF offerings,
the result being that December opened at
6S$4 d637sc, yesterdays closing price, with
64c offered almost Immediately. But the
tone OF the market soon changed. Northwest
ern receipts were liberal Minneapolis and
Duluth reporting l,l9O cars. compared with
g3l last week and 1,109 a year ago. Chi
cago receipts were 25S cars, considerably over
running estimates. OF this number l9 were
of contract grade. Receivers said the coun-
try was responding more readily to bids
ard indications favored a freer movement
OF wheat. This sort Of news weakened the
confidence of buyers and resulted IN cor
responding increase Of offerings under which
prices gradually declined, December getting
down TO 6S12c about an hour from the start.
In the meantime September had begun TO
show radical weakness. Cash demand was
reported poor, and primary receipts l 659, 900
bu, were 100000 bu larger than year ago.
This partly Offset by heavy clearances,
which were put at 900 bu, and COM
paints Of the Russian wheat yield. But the
extreme weakness Of outside cash markets,
notably New York and attempts by dealers
in that city to resell wheat recently bought
here, but not yet shipped. started liQuida-
ton that brought the price down with a
rush All c asses Of sellers came into the
market. the Tapidity Of the decline bringing
out stop orders both in September and De-
eember. The latter option had rallied to
$3.50, on the heavy clearances, but the sell
ing on the slump in September brought the
heavy towards the close. Selling pressure
was removed in a degree but the weak cash
situation was very etfectual in keeping buy
ers away, and prices kept declining to the
end. At the close December was bringing
6234 a627sc, practically bottom figures for the
day. September showed at time break
OF 3i2c, se,Iug down to 64%c from 6Sc the
opening price. 1t closed at Coo.
Corn was weak all day, liquidation most
~ from elevator people and shippers keep
ing prices on the down grade. Cash inquiries
were fair but not much business was done.
Receipts were liberal-7S5 cars. Seaboard re-
ported IS loads for export. Market was
weaker in the afternoon, in sympathy with
wheat, caused general selling. December
ranged from 291,c to 293sc, and closed asQAc
The market for oats was easier, prices be-
ing influenced by wheat and corn. Holders
sold September and bought December in lin
tied quantities. Trade as whole was light.
Receipts were 4S6 cars. Clearances were
light. May ranged from 227sc to 2212c.
Provisions, in view Of the weakness Of
grain markets, surprisingly STEADY. Lib
era- hog receipts caused slightly lower prices
at the opening. There was more or less short
selling in expectation that the break in grain
would affect prices, but all offerings were
cken, and the seadiaess the market dis
played caused general covering later At
the close January pork was nc higher at
$9l2i2; January lard 2l2c higher at $3.50 and
January ribs unchanged at $4.721a.
Estimated receipts for Friday: Wheat 315
cars; ccrn, $40 cars; oats, 425 cars; hogs
25.C00 head
The leading quotations ranged as follows: