The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-10-14
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CHICAGO Oct. 13.-TSday's wheat market
was in many respects similar to yesterd lys.
Opening strong and higher On bullish cables,
It yielded later unedr food Of realizing,
but recovered sharply near the c,ose. The
days advance wGs I2G5sc. Corn and oats
were firm corn advancing 60Ac. and oats
sc Colder weather in the yellow fever
districts caused a better provision market,
prices being 2l20712c higher at the close
Wheat opened quite strong at a sharp I'd
vance over night, December starting lie high
er at 65hG 65$sc. For an hour the bulls
were apparently disposed to crowd tier ad-
vantage, and bullsh news came thick and
fast. 1t was noticeable however that the
market was making little headway and, In
view of its action yesterday, there a
suspicion of further important but quiet
selling. Though prices were higher, the
market apparently did not have the same
power of absorption that was a feature dur
ing the advance yesterday. The fact that
many people were overloaded then acted as
a damper on the market This class was, as
a rule, disposed to sell on all hard spots.
Lord ROSebery's warlike speech, an advance
OF %G1lsd at Liverpool, reported record
breaking sales of -four at Minneap ols-1S0, coo
bblS, Of which 40 per cent were for expert
an advance OF Ice per Dbl In all leadirg
grades Of -four reported sales OF 20, coo bu
cash wheat here and reported continued
gagements at the seabOard, all coltribu ed
to the strength After the first hours trad
ing the realizing natural to such an advance
became too heavy for the market to sus-
from New York that leading export hcuses
were selling wheat, and that there were no
acceptances Of offers to the United Kingdom
or the continent. Northwest receipts showed
the effect Of the recent bad weather, Mime
neapOlis and Duluth reporting S57 cars COM
pared with SEA last week and Isl 8 year ago
Chicago receipts, however, were heavy at 303
cars, and the total at all primary points
70 641bc before Il became evident that tbs
market had been oversold. Then prices rose
rapidly, and In their efforts to cover shorts
ran the price back to Coo, and very little
reaction from that figure followed. New
York reported y bOatlOads engaged for ex-
port. The days seabOard clearances were
fuenual during the closing moments Of the
session. December closed firm at 64%c.
There was a big general trade in corn
early, and a good advance was recorded Ths
market in a general way spmpathized with
wheat, but was helped also by bullish country
adVlces and large export sales. Receipts
were 665 cars. The market weakened some
what later in the day on realizing and sell
ing, believed to be for the warehouse men.
That pressure removed the market Quieted
down. and was rather dull for the rest Of the
session Seio December ranged, from 3ohc to
SOzsc, and closed Sake higher at 30B0 3024c.
Oats were strong all day a limited
amount Of trading. Speculative offerings
were light and prices were well main ned.
Cash demand was good. receipts were small,
500 cars. The strength Of wheat was the
main factor. May ranged from 2S1s9234c
to 2S2sc, and closed 3sc higher at 23%c.
Provisions showed improvement both In
tone and in volume of trading. C,.lder wealth
er in the South and the belief that the fever
would be checked was an incentive to buy
and prices advanced al around. Bes phi e,
were not maintained, however, realizing be-
Ing quite free at times At the close jan
nary pork was nc higher at 50 10, January
lard sc higher at 81 921a and January ribs
PIC higher at S4.7014.721a.
Estimated receipts for Friday: Wheat, 80
cars; corn, $50 cars; oats, $40 cars; hos
e, 600 head.
The leading futures ranged as follows: