The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-01-22

CHICAGO Jan. 21.-After advancing cent
today on the remarkable strength of Eng
lish markets, wheat fattened out and closed
unchanged for May, but July held Sole of
its gain. Heavy Argentine shipments rather
took the wind out of the bulls sails. Corn
and oats showed a little more activity, but
substantially no changes in price. Provisions
closed unchanged to TIC higher.
In wheat, spectators were treated to
mild sensation at the opening, by the action
of the Liverpool market The quotations
from there were up 114d per GENITAL, for flu
lures. No. l northern spring on the spot had
been raised Id per GENITAL, and even the Lon
don cargo market showed an advance of from
Sd to cd per quarter. May opened here with
jump to $3.50, with some sales at the same
time at 92zsc. The closing price yesterday
was 91Ac. July started at from S43sc to
S44c compared with S9%c yesterday after
noon Outside markets were also very strong,
especially New York and Minneapolis and
this had its effect. The reason for the
strength of the Liverpool market was said to
be on account of the growing scarcity of
offerings from Argentina. cablegram from
Rosario said, however, that the farmers de-
liveries in that country were retarded by
rain, and that plenty would be forthcoming
later; that the area in wheat had been large
the yield heavy, and that no reductions in the
estimated exportabe surplus were being
made. But another reason for Lverpools
strength continuance of drought in
India, and Notwithstanding the cablegram
from Rosario, Liverpool reafirmed earlier
statements OF scarcity of Argentine offerings.
There plenty of selling both of July and
of May, many holders taking advantage of
the sharp opening advance to realize but de-
clines of only about sc resulted in EACH and
when the realizing ceased prices went up
again.
Chicago received 26 cars of wheat Mime
apolis and Duluth reported 1858 cars, against
1854 week ago, and 276 the corresponding
day of the year before. Primary Western
markets receipts all told were $685. 900 bu,
against 271,000 blu. the year before. Mime
apolis stocks for the week expected to show
300,0 coo bu. increase, and Duluth $685.
600 blu. increase, and on that basis and esti-
mate Of weeks exports 100000 blu. decrease
in the visible is looked for Last year the
decrease of the similar week was l. 161, 900 bu.
Liverpool closing prices showed net gains
for the day of I'D for March, Id for May
and I'D for July. Paris noted % confines de-
cline in January flour, and &c advance in
March-June. Antwerp advised 1215 confines
in both red winter and Walla Walla wheat
The clearances for Atlantic and gulf ports
in wheat and flour were equal to 635 600 bu.
The market here began to weaken after the
posting of the weekly shipments from Argen-
tina, which rather confirmed the earlier
Rosario cable concerning the large surplus.
The shipments were given at 328, 900 blu. Sell
ing became quite free after that, and it was
the impression that the Letter crowd liqui-
dated some of their July and May holdings
May declined to 91Ac and was bringing 917sc
at the close. July sold down to sac, and
closed at that
A fairly good trade was done in corn with
out any material change in price. There was
rain throughout the belt cables were
strong and Argentine shipments were small.
With those helps and the influence of wheat,
the corn market kept little above yester-
days prices, most of the session, but lost
the slight advantage when wheat turned
weak. May ranged from 291sc to 2S7s029c
and closed shade lower at 28H129c. Trade
in oats showed a considerable Improvement
and the market most of the time was quite
firm. There was good buying of May for
New York account again. Commission houses
bought July and a slight narrowing of the
spread. The early strength of wheat and
good shipping demand were influences May
ranged from 2S7sc to 23Ac, and closed I'M
changed at 23$4c.
Provisions were active with good demand
at the start, principally from packers A firm
hog market caused some covering and the
market scored fair advance. The market
eased off subsequently, in sympathy with the
decline in wheat, short ribs exhibiting the
most weakness. The closing was easy MAY
higher at s4.S21a, and May ribs unchanged at
s4.8212. Estimated receipts Saturday: Wheat,
BS cars; corn, 400; OATS 2S5; hogs, $4,000 head.
The leading futures ranged as follows