The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-10-02
ENORMOUS RECEIPTS AND IN
CREAsING RUSSIAN OFFERINGS.
THE CAUSE
CORN AND OATS sTAGNANT
Declines Are Noted In All Lines of
Cereals - Estimates cf Large
Crops Here and AbrGad Were mt
the iBOttOm of the eNealsness In
Wheat---Trading WasSisxeessive-.
Iy Dull Despite Lower Prices.

CHICAGO, Oct. 1.-Enorn1ous receipts of
wheat at primary Western points, increasing
Russian offerings and estimates pfflarge crops
here and abroad, were at the bottom of the
weakness shown by wheat today. Besides
trading was Excessively dull December
closed at 1kc decline. Corn and oats were
stagnant, each market declining about kc in
sympathy With wheat Provisions were
weak, partly on account of erain and partly
,.pG bearish independent features, closing 71a@-
I5c lower. S~'' h7F~fa trszr1rs'' g
The opening in wheat was at slight ad-.
vance over yesterdays closing price Decem-i
Der starting at 62ssc. The Improvement was.
apparently due TO Bredstreet's figures on the
weeks exports, which were put at 5 800 coo
bu, compared with 5,025 900 blu the previous
week. This had caused strong curb mar
ket yesterday, and the strength was still
noticeable in today's operations. Shorts wer !.
moderate buyers for short time after -
start, buying being heavy enough to ,Ae
further slight advance. Decembs2 :use a
62Ac and holding for a TIM getting to
Then the market began s. at that figure;
prices was stes5S> t session the trend Of
y was soon OF of bearish tenor but trading
nromipC extremely dull, many of the most
VIZ; .ent brokers having gone to Omaha I'd
LESS the peace festivities at the exposition,
The decline was very gradual. Northwest
receipts were heavy, Minneapolis and Duluth
reporting LIT cars. against 1,O91 last week,
and 1883 q year ago. Chicago receipts were
337 cars, SO Of contract quality. Primary re-
ceipts for the day were 1,692, 900 blu, which
were largely in excess of last years. Atlantic
port clearances exclusive of Newport News
and Gulf ports amounted to CPS COO bu
Brokers reported an almost entire absence of
cash bids at anything approaching a working
basis, Liverpool was I'd lower for futures,
though spot wheat was unchanged. London
reported freer offerings Of Russian wheat.
This, with foreign estimates of Russian and
worlds crop, both of which were very
heavy, deepened the depression in the local
market. The Orange Judd Farmers estimate
of 100 100000 bu as the United States crop also
helped to push the prices downward The
market became very heavy towards the close
demand almost dying out. December dropped
to &c and closed at 62G62sc.
There was very little trading in corn, and
prices changed very little. Trading was easy,
principally through sympathy with wheat.
Cash demand was slow. Receipts were 49S
offerings were on a small scale. December
ranged from 293sQ2913c to- 29Ac, and closed
at 291Ac.
Market for oats was stagnant the pit at
times being almost deserted. Prices were in
fluenced by wheat and corn and averaged a
little lower Elevator people were swept of
May. There was no fresh Inquiry. May
ranged from 225sc to 228sc, and closed a
shade lower at 223s@2212c.
Provisions were duh and heavy. The open
ing was lower on yellow ffever news and
heavy lard deliveries and still further de-
cline resulted from sympathy with wheat, the
market closing at about bottom figures. Pack
ers bought sparingly of ribs: At the close
June pork was 15c lower at S9.G21a; January
ribs, 1Oc lower at $4.671a, and January lard
10c lower at 81. S5.
Estimated receipts for Monday Wheat,
corn, oats, no estimates. Hogs, $4,000 head.
The leading quotations ranged as follows: