The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-01-05
MARKET SUMMARY.
FINANCIAL.

CHICAGO, Jan. 4.-Revival in the foreign
demand for American wheat today caused the
market to close steady at only Ac decline
1t at one time showed nc break from yes
terday's figures. Markets for and oats
were very similar to that of wheat and
showed very little change at the close. Pro-
visions were weak and lost 714@1215c.
Wheat was somewhat irregular to begin
with. There were buyers of May from 911ac
to $3.50 at the start, as compared with 91as
OSLO, the close on the day before, while
January the closing price of which was 90Ac
sold at the opening today at 9OAc. May very
quickly began to give evidence of decided
weakness. 1t dropped at once after few
transactions at 91%c and for about half an
hour it hung around 91Hc. Forty-fve min
utes so later 1t weakened still further on
some news connected with the Argentine
situation. and before the decline brought in
buyers enough to stop it the price of May
was 9O19@905sc, and of January $3.50. The
early news was not particularly influential
either way. Chicago receipts were only IS
cars. instead of 100 expected, and Northwest
receipts were reduced to 405 cars, against
657 the week before. AS compared with last
years receipts, however, today's report was
heavily in excess of the 149 cars then re-
ceived. Liverpool was quoted I'd lower at
prevailing here. Paris was also said to be
somewhat lower, but the weakest feature of
the first batch of kilograms was what New
York had to say of the selling by foreigners
The Continent was selling they said and
buying orders from France, said to have
been already limited to a price below the
market, were reported cancelled this morn
ing. Then 1t said the foreign selling
and fresh reaizations were because of heavy
offerings of Argentine wheat for early ship
ment. The drop to 911b@915ac was on &C
count Of the last mentioned result. The
Continental cables came very weak in tone,
and closing quotations showed the following
declines: Paris flour, 65975c lower; 30635c
lower for wheat; Antwerp, 12hc lower for
American red winter. Antwerp quoted freer
offerings from Argentine as the reason for
the decline. May on that made a further
dip to 90Ac. Bradstreet's made the worlds
increase for the week 1885, 900 blu, all but
100000 of 1t on this side. In the afternoon
New York reported SO boat loads taken for
export, and infused some needed strength
into the trade, notwiths landing the fact that
the accuracy of the figures was doubted by
many. May rallied to 91A@91%c, where it
was quoted at the close.
Corn acted weak most of the day. The
early feature was scattered country selling
dation was also caused by the heavy receipts
1,O49 cars. There little rally later on
the moderate estimates for tomorrow. and
the market became fairly strong when wheat
rallied near the close. May ranged from 29H
QZSAc to 2SAc, and closed shade higher
at 291sc.
Oats were weak, especially SO for January.
elevator people selling that delivery freely
and forcing it PIC under May Liberal re-.
ce1ptss restoration of freight rates and fall
Ing of in the export demand were all factors
In the general liquidation during the morn
ing Prices rallied late in the day on a
little buying in sympathy with the reactions
In wheat and corn. May ranged from 23Ac
23Ac. -- ~
Provisions were weak from the start. Hog
receipts West were heavy, and offerings at
the opening were liberal in consequence,
packers especially pressing the market. There
was good deal of general liquidation during
the day. Late rallies in the grain gave some
strength to provisions, and part Of the de-
cline was regained The close however, was
neayy: May pork, 121sc lower at 1920; Nav
lard, 1Oc lower at $4.S21a, and May ribs. 715c
lower at $4.6212: Estimated receipts Wednes-
day: Wheat, rs cars; corn,- $50 cars. oats
$50 cars; hogs, eco head.
The leading futures ranged as follows.