The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-01-06

CHICAGO, Jan. 5.-Wheat was rather heavy
today, and If the local talent had not been
afraid of being caught by the Letter party,
the 5s@%c decline, which marked the close
IN May might have widened into heavier
loss. Cash news was strong; speculation
weak. Corn did not move enough to be
worthy of notice, and closed unchanged.
Oats declined &c. Provisions were strong and
showed closing advances of 7G15c.
Wheat started easy at about nc under the
closing figures of the day before. May opened
st from 91@91hc, and July from 82%9S9c.
1t acted irregularly within a narrow compass
for an hour May playing during that time
between 91A and Ole. The slightly easier
feeling with which trading commenced was
in part due to a crop report of Thoman's
that made the acreage planted with winter
wheat ia per cent larger than the area
harvested last season; it also reported the
condition 81. against S1 Dec. last
and estimated the quantity in farmers hands
at 24O COO bu or 41.31 per cent of last
years crop, and that there is available for
export in next six months 100, 000 600 Blu. It
was also a matter OF some disappointment to
the bulls that the Minneapolis and Duluth
receipts were not reduced more materially
than shown by 35S cars at the two places
today, as against AL a week ago. and 120
the corresponding day OF last year. Chicago
made some amends, however, only 26 cars
being returned with 1S5, the similar day of
last week and 81 a year ago. Liverpool was
about sd lower to begin with, and dropped
another 1sd later in the day.
The first thing the bulls got any addition
al comfort from was the sale by Armour Of
10000 Blu of No. spring wheat for export
at once by rail hence to the seaboard, and
rumored sale of a further $4,000 bu. The
price was said to be 412c below the May price.
The export clearances from Atlantic ports
were again liberal, amounting in wheat and
-four to 100000 blu. That was a sustaining
factor, but when about two hours of the
session had gone and the foreign markets
were found to have closed weak, confidence
began to desert the early buyers, and they
became more anxious to avoid a loss dur
ing the following half hour, than they had
been before to secure a profit. Liverpool
closed Esd lower for the day. Paris closed at
q decline of from 10 centmes to Is confines,
In luor and 10 centimes in wheat, while
Antwerp, in addition to a drop OF 1917 CEN
times for red American, the day before,
ported a further decline of a like extent for
both red winter and white California. Those
features of the midday news caused a break
to 9013c for May shortly after their receipt.
Letter agents were quite active sellers on
the decline, and the bull crowd were appar-
emily playing for break Nevertheless it
had the effect Of keeping the smaller fry out,
and after those who had bought in the morn
ing had liquidated at loss, there was little
trade of consequence besides the Letter
transactions, the local crowd evidently being
afraid of being caught A short time before
the close, May reacted to 905sc, which proved
the final figures.
Corn was very quiet and price changes
extremely narrow. The market was inclined
to firmneSS about the ONLY really bearish
feature being the extreme dullness Of trade
which was mostly of a small scalping nature.
No features of interest developed. May ranged
from 291sQ2914c to 29c, and closed unchanged
at 291sc Oats were almost as inactive as
corn, and fluctuations were even narrower.
There was little scattered commission house
selling of May which in the absence of sup
port was sufficient to depress prices q Ii tie.
The pressure on January, So prominent yes
terday, had almost disappeared. May ranged
from 23Ac to 2S1sc, closing Ac lower at
2S1sc.
in provisions quite good business was
Cudahy. This and the weakness Of the hog
market caused prices to sag for a wilde.
Quite active commission house buying started
later, and the market became decidedly
strong. A bullish feature the days ship
ments, which were again enormous. The
close was at the high points of the day. May
pork 15c higher at 1875: May lard, 712c high
er, at $3.50, and May ribs, 71aG10c higher at
$47004.7212. Estimated receipts Thursday:
Wheat, so cars; corn, so cars; oats, 300 oars;
hogs, $4,000 head.
Tba futu foIlo