The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-11-29

CHICAGO, Nov. 28-Russia'S small contri-
button to last weeks worlds shipments turn
ed a weak wheat market into a strong one
today, and resulted in recovery of an early
loss and in an advance asQ12c besides fea-
ture Of the trading was the heavy December
liquidation. Corn and oats were strong on the
cash situation and prospects of softer weather
and advanced about &c each. Provisions
closed unchanged to PIC lower.
The early tendency of wheat was towards
higher prices. Holders Of December and May
wheat who were disposed to continue the
liquidation that made such a weak market
Saturday were deferred from selling at first
by the frmness shown by Liverpool, where
an opening asq1kd lower was more than re-
covered by the time trading commenced here.
Liverpool stocks were reported today at only
1900 blu, showing a reduction for the week
OF $50 000 bu,and to this small amount of aVa all
able wheat was attributed the strength Of
the English market. Northwest receipts were
1888 cars, compared with 1901 last week, and
LAB year ago. Chicago receipts were only
141 cars, Il of contract grade. But after a
short period Of steadiness, during which time
the smaller shorts covered moderately, the
market weakened and for an hour the tendency
was distinctly downward. December devel-
oped the most weakness; at one time sold at
hc discount under May. Every trader with
December long wheat on his hands appeared
10 be anxious to liquidate in advance of the
regular delivery day, and the pressure from
this source was altogether too heavy for the
limited demand to cope with. For this reason
the market became really weaker than appear
ed warranted by the situation. Outside selling
was quite prominent during this period OF
liquidation, st. Louis holders putting large
quantities Of wheat on the market. Nav
opened Nc higher at 661sQ66Ac, and finally
declined to 65s4c the low point of the day.
December started Nc higher at 65%q66c. 1t
sold at 661sc for moment or two, then slow
ly slid of to 65Ac. About $50 the market
began to improve. Primary receipts were very
heavy and the visible increase 1871 900 Blu,
was considerably more than expected. But
there was a good export demand, about 80
loads being disposed Of at the seaboard and
600 blu here. This drew attention to the
pyO hUnF
big falling off from Russian ports. Out or a
total Of Z, 761, 900 blu shipped from all points to
while Canada and the United States sent
5,5S2.000 1t was figured that Russia had
not raised so large crop as claimed, or has
resolved to hold it for higher prices. Either
explanation was bullish and had considerable
influence on the market Liquidation gradu-
ally ceased and the demand from shorts grew
heavier. The market during the last hours
trading was decidedly strong, prices advancing
steadily under an increasing general demand.
end higher prices were reached shortly be-
fore the close. May advanced TO 669sc, and
66Ac and closed at 66m@66Ac.
Corn developed a good deal OF strength,
dumps. Local bulls increased their lines and
shorts covered actively. Prospect OF softer
weather bull influence Receipts were
very light, 17S cars, and the seaboard and To-
cal demand excellent. sales here being put at
800, eco bu. The market increased in strength
as the session advanced and highest prices
prevailed at the close. May ranged from Sotsc
to 94Ilc. and closed 5s624c higher at S4lAc.
Oats were strong, and scok.d a sharp ad-
vance. Quite a large business was done, in
terests which sold last week being prominent
buyers. The strength was mostly in symp a
thy with wheat and coz. Receipts were light.
199 cars, Cash demand was excellent, 600
bu being worked for export May ranged
from eGBc to 26%c, and closed &c higher at
26%c
In spite of the fact that hog receipts were
with cue exception the heaviest on record.
WEI
was shown at first. but the rally In corn
proved more potent than the hog receipts, and
prices ultimately recovered, the market being
firm at the close. Packers were moderate sell
ers. At the close. January pork was 21sc
lower at $9.02k January lard unchanged at
ASS. and January ribs 212c lower at S4.55.
Estimated receipts for Tuesday: Wheat, 225
cars; corn, $50; oats. $40; hogs, 80 900 head.
The leading futures RANGED as follows: