The Saint Paul globe., 1898-11-16
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CHICAGO, Nov. 15.-Declines of &c in May
and ssc in December marked the dealing in
wheat. Surprisingly large worlds visible was
the main factor and entirely neutralized the
effect OF an excellent cash demand and heavy
export sales. Corn declined hqsc. Oats
show no change. Provisions declined about
Zkc.
It was evident at the opening In wheat that
traders playing for higher prices were going
L. have a hard time. Liverpool, instead OF
responding to- yesterdays advance showed
decided inclination 10 go the other and IN
this was not alone. Paris also showing weak
ness. Liverpool was sd higher to sd lower
and Paris 10 centimes lower May opened
1sGi4c lower, at 6GAn66l4c, and December
started at nc lower, atG61s G66%c. There were
very few buyers Of either option for some
time, while selling orders were large espe-
cially In December, and prices were steadily
forced down from the first hours trading,
resulting IN May declining TO 6Gc, and Decem-
Der TO G6zo Besides the weakness Of cables,
Bulls had TO contend with remarkably ehavy
North Weset receipts. and prospects or con-
tinuance OF the same on account OF favorable
weather and reports from New York that
many Of yesterdays heavy buyers had turned
sellers. All Of this was an incentive to short
selling. Minneapolis and Duluth reported
2039 cars today. Chicago receipts were 46l
cars, 81 OF contract grade Total primary
receipts we're 100000 bu. About IL o'clock
some improvement In prices took place on the
sale OF 2G0 900 bu cash wheat here, and tho
reported sale at New York OF rs boatloads
for export This caused liquidation 70 stop
more or less and started covering Dy the
more timid shorts. December had risen TO
e6tac by noon, and May had recovered TO
63Ac. Bradstreet's statement OF the worlds
visible, however, threw a damper over the
market. This showed an Increase OF 6I2 900
bu. The figures were much larger than had
been anticipated and tho market at once be-
came weak. Liquidation and short selling be-
came quite heavy. During the last hours
trading prices slowly but surely declined.
May closed at 6CUGS1sc, and December at
65ssc.
Corn developed considerable weakness,
There was heavy liquidation by longs. in
duced BY lower cables. fine weather West and
eral Receipts were light. AT cars and cash
demand good, sales being at about 5O0. 600 bu.
good export demand was also reported.
May ranged from 1895 20 33c, and closed IA
80 lower. at SSAc.
Oats we're relatively strong. Cash prices
were at q premium over futures. and an ex-
cellent demand was reported. This was
big help 10 the speculative market, and
though there was a small decline early with
corn ID was soon recovered Receipts were
f76 cars. May ranged from 2i5sc TO 2ssc, and
closed unchanged NJ 2i&c.
Provision were heavy and DUH. The market
felt the big receipts of hogs and the weakness
81 corn Packers were sellers OF January
product most OF tho session Late In the day
the market improved somewhat January
pork closed &c lower az 5 S.. January lard.
.ikc lever. at Sass, and January ribs, 2izG5c
lower az S447ls6fA6O.
Estimated receipts Wednesday: Wheat, 175
cars. corn 275 oats 1880: hogs, ~ eo0 head
The leadihg futures ranged as follows: