The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-01-20


CHICAGO Jan. 19.-Support from the Letter
crowd which started covering by shorts made
a strong July wheat market today, that OPP
ton closing &c higher. May, on the contrary,
was weak and showed a closing decline of ia
&c. Bear.sh foreign news influenced the lat
ter option. Corn was weak early, but closed
steady at a shade better price. Oats showed
no change at the close. Provisions were If
regular. closing 212c lower to 21A@5c higher.
Wheat started with some show of weak
ness. AS usual the opening tone was greatly
Influenced by Liverpool and the action Of that
market on this occasion was a disappointment
to the bulls. Liverpool opened H@3sd higher,
but by opening time here that advance had
nearly all been lost. The market, however,
was only affected and after a few minutes
hesitation a firm undertone was shown. May,
which closed yesterday at 913s@911Ac, opened
today at 91Ac, sold at 911Bc, and for some
time stood at about 91A G913sc. About II
O'Clock the market became strong and ad-
vanced to slice, where it was well supported.
The July option the feature of the trade,
however. 1t opened at from S1Bc to SIC, or
BqAc under yesterdays price, but started
up at once, and by the time May had reached
size July had advanced to 83c. great deal
of the early buying of July credited to
the Letter people, which had the effect of not
side shors as we'll and for a time trading in
that option was decidedly warm. The ad-
vance that followed the opening decline was
in the face of a good deal OF bearish informa-
ton brought in over the wires. Besides the
early loss at Liverpool flour at Paris was
reported 20 centimes lower for March-June
term. English country markets from
Cd to Is lower, and well known Paris grain
dealer cabled that French duties were i'm
movable, that crop prospects for the next
harvest were magnificent, and that the re-
quirements of foreign wheat in that country
from now to July l were only about IA 000 900
bu. Afterward the closing cables from Paris
quoted both wheat and -four 10 centimes to
Is confines higher, and from Antwerp a rise
of 1212 centimes was advised. Liverpool
closed sd higher for the day for March wheat
and I'd lower for May. Clearances from the
Atlantic and gulf ports were equal in wheat
and flour to 525. 500 Blu. Local receipts were
II cars. against 20 the similar day of the
year before. Of todays arrivals only one car
load was contract, but besides it u 900 bu No.
l northern spring found its way into regular
from unlicensed houses Minneapolis and
Duluth received 335 cars, against 367 the week
before, and 212 the corresponding day of the
year before. Realizing by local longs be-
came quite free in the afternoon in both the
ensured. The extreme dullness which set in
during the last half hour also had its in
fuence and the market was weak at the
close, May at Size and July at S2%c.
There was some improvement In the trade
in corn. The market early was weak on
general selling by room traders There was
quite good demand at the slight decline in
prices, and this and the recovery in wheat
caused better feeling. Liberal country Of
ferings were a factor in the early weakness.
May ranged from 20 to 285s 02S34c, and closed
a shade higher at 2S7sc.
Market for cats dull, as in the other
grain pits. The start was easy but the ad-
vance in wheat and corn was followed bv
oats Buying was chiefly for New York ac-
count. Elevator interests sold early Nav
ranged from 23% to 231ac, and closed IN
changed ar 2315c.
Considerable interest was shown in pro-
Visions strong feeling prevailed at first.
commission houses and some of the packers
buying literally, and prices advanced. A
hlgher hog market contributed to the
strength. Later on the market became weak
on increased offerings, and the absence of
support and nearly all the advance was lost
the market closing easy at about inside fig
ures: At the close May park was PIC higher
at $3.50; May lard, PIC lower at $4721a and
May ribs, unchanged, at $4.75.
Estimated receipts Thursday: Wheat 25
cars; corn, 375; oats, 240; hogs, 81, 900 head
Ihe leading futures ranged as follows: