The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-01-21
MARKET SUMMARY.

CHICAGO. Jan. 20.-All the grain and pro-
vision markets were strong today, and made
additions to their former prices. The feature
in wheat was the strength shown by the July
option which advanced lie under Letter buy
ing and covering by shorts. May closed at 9sc
advance Corn and oats closed &c higher
each and provisions advanced 5q20c.
In wheat Liverpool prices showed about I'D
advance at the opening here, and this marked
showing of strength naturally had great effect
on the market here. May, which closed yes
terday at size, opened today at s1&Q9lBc,
while July showed a still greater advance,
starting &@Bc higher at S31h9S39sc. Trade
was very slow for an honr and a half, and
fluctuations during that time were practically
confined to the fractional differences of open
ing trades But 1t improved later, especially
IN July. The Liverpool advance was sup
posed to be the result of less pressure from
Argentine to sell wheat. This theory was
practically confirmed by cablegram stating
that the 81, 5OO, goo in gold that had been order
cd for shipment from London to Argentina had
been cancelled, and one from Buenos AyreS
correspondent of a Milwaukee house putting
the exportable surplus of Argentina at 49,
GOO 900. London quoted the price of Argentine
wheat-March shipment-33s sd, which is Is
above the price it was being offered at about
to Sc per blu. The receipts at Minneapolis and
Duluth were 3G7 cars, against 1872 week ago,
and 252 the corresponding week of the year
before. Chicago receipts were 30 cars, COM
pared with 90 year ago. OF today's receipts
only two cars were contract but $4,000 bu
besides were put in store from unlicensed
warehouses. After II o'clock the trade took on
some degree of activity. May, in the mean
time had risen to 92B@92Ac. The Letter
party sold that future at over 91Bc, but
bought July and, as the price of July has
gone up pretty easily lately, the purchases
of Letter frightened them to covering. The
consequence was an advance to S4Rc, while
May was hanging around 911ac. The receipt
of the closing cables showing weakness in the
foreign markets in a measure restored the
confidence of the shorts and induced them to
again put out their lines, and during the af
ternoon prices suffered a considerable re-
lapse The Liverpool market closed with a
net gain of from I'D to sd; Paris at loss
of from 10c to zoe for -four and 1Oc to 15c for
wheat; Antwerp lower by Csc for red winter
and 1211c for Walla Walla. May declined to
and closed steady at 91Nc while July was
bringing S3Ac at the close.
Corn was an exceedingly narrow market
There was plenty of bull news which met
with little response. The strength of wheat
and heavy seaboard export kept prices
little above yesterdays figures most of the
session, though predictions Of dry cold wealth
er led to expectations of Increased farmers
deliveries and caused some selling. May
ranged from 29G291sc to 2S7sc, and closed &c
higher at 29c.
Market for oats was quiet but firm. The
feature the continued buying for New
York account. This and the strength Of
wheat caused a slight advance in prices which
I1Y1xy nio1
strong under fairly urgent commission house
buying May ranged from 1884 @237sc to 1850
23a4c, and closed 1sc higher at 23Ac.
Provisions were strong throughout. At the
start there was scarcely any trading, though
prices were little higher, due to the firm hog
prices. AS the strength developed in wheat
the short interest in wheat began to cover,
and the demand became quite active,
prices advancing rapidly. Some reaction fol-
lowed on a falling off in the demand, but
prices recovered later. At the close May pork
was zoe higher at 1910, May lard &c higher
at $4.7712, and May ribs 714c higher at s4.S21a.
Estimated receipts Friday: Wheat, SO cars;
corn 325. oats 255. hogs % 600 head