The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-10-12

CHICAGO. Oct 1.-THE continuation Of a
large export business today, together with
the strength in corn caused sharp rally
in wheat After an cary decline, Decem-
Der wheat closed %Q7sc higher. Corn ad-
vanced 9sc Oats rose 1s@Ac. Pork i'm
proved Zoe. lard 7i2Ql0c and ribs BE-
The excitement regarding the Nile country
having apparently subsidized, the wheat mar
ket at the start began to drop back into the
rut from which the alleged war news nafl
rescued il. There was also n current belief
among professional speCulatOrs that the price
was a little too high with the sustaining IN
fuence of export business or some SINH ~
important item. AS consequence c0nsdera-
bic pressure was put on from the start, and
there being no material volume OF buying
TO counteract Ii, the tendency was steadily
but slowly downward. Liverpool opened
unchanged, then ranged a trife higher, and
finally closed weak at loss OF 1sW "a:
Though the pressure from the professional
element was sufficient to depress the price
TO the level at which puts had been sold,
the opposition which these offered seemed
sufficient to prevent any further decline.
There was a stiff cash market at Mime
apOlis, and prices were quoted 12G1c higher
than yesterday. The weather in the North
west, however, was better, and the primary
market receipts were so large as to promise
another record-breakng week. The total
today was 2,0l5t0O, against 1,3lS,00O blu for the
corresponding day last year. Export clear
ances from Atlantic ports for the day were
Zoo bu. As the session advanced the in
dicatOns became numerous that the early
selling by the professionals had been some
what OYerdOne and prices took an upturn.
Local flour exporters said that all their Of
ferings of -four TO the United Kingdom yes
terday had been accepted and reported sales
Of 25O,O0O bu cash spring wheat to Liverpool
direct today. New York meanwhile swelled
her exports to Is boatloads and the corn
market was setting a pace which made the
wheat bulls ashamed of themselves. AS the
spirits of the bulls rose those of their OPP
pOnents dropped, and it was not therefore,
a difficult matter to start them scrambling
after wheat During the excitement that fol-
lowed the top price of the session was reach
ed. Arrivals at Chicago were 273 carloads,
against 2S3 last year. Minneapolis and Du-
luth receipts were 1,7SS cars, as compared
with 1908 last week and 1892 a year ago
December opened &c lower at 63AG653sc
declined TO 634 G63Ac then rallied quietly to
643sc. sellers, at the close.
Corn was the strongest market on the
hoCr. Initial trades were at a slight ad
vance caused BY the government report,
which showed a falling off in production In
addition to that. there was enormous ex-
port business at the seaboard, and there
were four leading elevator concerns in the
pit buying heavily. The Liverpool closing
market showed an advance of ga for spot
and Of 3sd35d for future delivery Of corn.
That combination Of influence was sufficient
to lit the market out of It's rut as COM
pletely as war news lifted wheat yester-
day. Sellers were also interested parties
after the advance began, and were soon
in competition with other buyers in an effort
TO protect themselves from losses incurred by
sa,es of these privileges. Receipts were 949
cars. December opened unchanged to 1Bc
up at 297sd30c held at 29kc then rallied
quickly TO 30l2c, the closing price. The
bearish showing Of the government report
caused slight concession in oats at the
opening
When wheat and corn came to an upturn.
however. oats were not slow to follow and
the early decline was recovered and gain of
&c took its place. Receipts were 425 cars.
Nav started unchanged to NC lower at 227kc.
declined to 2234c. rose to 23Ac and declined
TO 23lzc. at the close.
Continued alarming reports of the spread
Of yellow fever in Mississippi and very
large receipts of hogs at the seven leading
Western points started provisions weak
There was a good cash demand. however and
that, along viii the strength of grains, ulti-
mately, turned the market strong, and the
early loss was more than recovered. Janu-
airy pork began &c lower but reached IS IS
al closing time. January lard started 21ac
down at S4.771a, advanced to $3.50 and closed
at A.871ad49O, the closing price. January
ribs closed &C lower at $t.571b and rose to
S4.61la at the close
Estimated receipts for Wednesday: Wheat.
d5o cars; corn $40 cars; cats, $50 cars; hogs,
4,000 head.
The leading futures ranged as follows: