The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-03-05
MARKET SUMMARY.

CHICAGO. March 4.-Selling by Armour
and presumably by other elevator influences
was the feature in wheat trading today, and
was mainly resonsbe for a decline of nc
in May and 5sG1c in July Corn was weak
in sympathy, and declined sc. Oats were sus
tanned by the export demand, and closed at
unchanged prices. Provisions suffered Sc
Verely from liquidation, closing 10Q20c lower.
At the opening. and for a short time after
wards there was a lively speculative demand
for July wheat, and the market displayed
considerable frmness AS usual Letter was
at the bottom of the strength, the ordering
of $4,000 bu more of his wheat for shipment
to the making nearly 100000 bu
since this movement began-beins responsible
for a good deal of buying. Another factor
was the signing of the decree reducing the
Spanish import duties on grain Opening
trades in July made at 91A@91Bc a
shade above yesterdays closing price, and
enough support materialiZed to send the price
up to Sl9se in short time That proved to
be the high point of the day.
Outside of the items of news mentioned,
everything favored the selling side of the
market. and this fact soon had It's effect.
feature. That market showed A@&d de-
cline Argentine shipments were the heaviest
thus far this season, being reported at ], 640,-
600 bu. Chicago received &c cars, is of which
were of contract quality. Northwest receipts
amounted to 3l3 cars, against 267 last week
and go year ago. Export clearances for
the DAY were not large enough to be bull
feature. The figures were S95, 900 bu and pri-
mary receipts were over 100000. This array
of bear news gradually brought sellers into
the market. and liquidation. light at first
gradually grew heavier, prices slowly de-
Ginning
In the meantime another factor had en-
tered the market in the shape of selling of
May by the elevator interests, in which Ar
mour was especially prominent. His houses
made no secret of their selling and the free
dom OF their offerings brought others to the
selling side. Opening prices of Nav were
39c higher, at $l-0612. An irregular decline to
Si.Ooi+ followed. Then came a slight reac-
uon out prices soon got back to s1.05A
again. July by that time had declined to
SO9sc: For some time the market hesitated
at those figures, but liquidation of Nav
hnally took all the remaining courage ont
81 the bulls and the market was left to shift
for itself S-'-'
During the last hour offerings became quite
heavy, both in May and July, and prices slid
OH rapidly, May getting as low as 81 O41h
and July declining to 9Oc. Covering by shorts
with win good profits then caused little better
feeling, and slight improvements followed.
May rallying to $1.O4& and July to 9OlG9Ossc
These were the closing prices
corn was easier on a moderately active
market. Some strength was shown at the
start, the market in this respect following
selling of corn became quite general and
prices declined steadily. Favorable weather
ana prospects of a prodigious Argentine corn
crop were factors. May ranged from 305h N
8O4c. 7so io"er' at
Oats were remarkably strong during tho
morning. Heavy export sales and liberal
commission house buying caused sc advance
wh-ch was sustained for some time. Veal
ness in other markets and moderate amonn+
OF realizing resulted in a loss of The ad
vance later, the market closing rather eaSI,
many ranged from 27l4c to 26aLc CLOSING
shade lower, at 1854 626Bc Oe
PRESSURE 10 sell provisions was marked from