The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-11-30
Previous

CHICAGO, Nov 29.-Wheat today, after
running very irregular course closed
heavy and &c under yesterdays final figures.
1t was case of enormous receipts against
splendid demand. and the receipts finally
triumphed. Corn and oats were unchanged.
Provisions closed a little higher.
The immediate opening in wheat was rather
weak May starting at 66G6e1sc, a decline of
&c, and December AGssc lower, at 65%c.
Liverpool failed TO respond to yesterday 8
advance here, and Northwest receipts were
very heavy. Minneapolis and Duluth reported
20H cars, compared with 21T last week and
1043 year ago. That gave the market the
easy opening. Reports that a heavy snow
storm prevailed in the Dakotas, suggesting
subsequent decrease In receipts was APPARENT
ly the reason for brief advance, December
selling to 66Ac and May to 662sc shortly after
the opening. Then followed a period of de-
preston which lasted until about IL O'Clock.
Reports from Argentine crop, the condition
Of which has been exciting much interest,
were conflicting, one report claiming much
damage from iocusts and frosts, and another
report saying the exportable surplus would be
large, in spite Of any damage. But this
report gave the exportabe surplus at about
80, 900, 900 blu, which is considerably below
previous estimates, and therefore the Argen-
tine news had a supporting influence, If any
thing Bradstreet's reported the worlds Visi-
BILE increase at 3,S08, 900 bu, about what was
expected. There was still more or less nerv-
BUSINESS shown by December longs, and
liquidation from that source, though not so
heavy by any means as of late, was never
UleIeSS a feature OF the morning decline. be-
fore the pressure had been removed Decen1-
Der had been forced down to 65Ac and May
TO &c.
After II o'clock the market became frmer
Closing cables, notably from Paris, showed
Strength, and seabOard reports were excel
lent. Clearances were put at 966,000 Blu, and
40 loads were reported sold for export. Sales
here were about 100000. Strength in corn
also helped to create the demand which finally
sent May up to 661ac and December to 663s
Q661ac But primary receipts were very
heavy 1922 900 bu and this announcement
again brought before traders the fact that
farmers were apparently unanimous in
desire to sell The demand gradually fell off,
and during the last thirty minutes of trading,
the market was quite weak. December finally
declined to 655sc and closed at 65%c; May de-
clined to and closed at 65Bg66c
Corn though having periods Of depression,
was in the main firm. The demand for De-
cember was a feature. Receipts were moder-
ate, 4S7 cars, and cables were steady. Soft
weather West was bull influence. Shipping
houses reported fewer offers from the West.
Seaboard sales amounted to II loads. The
visible decreased !, 452 600 Blu. Local bull trad
ers were good buyers. Prices advanced dur.
ing the morning, but the advantage was lost
when wheat weakened. May ranged from
Sl5kc c. ~ " 49,
Oats followed corn very closely There was
only a fair business transacted. Local long
interests were moderate sellers. Cash and
export demand were reported good and re-
ceipts moderate, BAL cars. May ranged from
26iac to 26Ac, and closed unchanged at 26Ac.
Provisions were dull but firm in the face
of heavy receipts OF hogs. Room traders as
a rule were bullish Shorts took advantage
of the natural heaviness to cover. and there
was also some buying for the long account.
Packers were mOd1ate sellers. There was
some depression near the end on account or
declines in grain. At the cSse January pork
was sc higher, at S9.O71a January lard, PFC
higher, at $497i2 and January ribs 2Rc
higher at $457M.
Estimated receipts for Wednesday: Wheat,
1S5 cars; corn, $50; oats, 1S5 cars; hogs, 10000
head.
The leading futures ranged as follows:
IOnan- / EI1h-I Low Clos.