The Saint Paul globe., 1898-02-28

CHICAGO. Feb. 26.-It a weak day in
wheat, July at one time of 1@sc and
May &c. Closing prices showed lc decilne
in both options. It a narrow market:
and the weakness was due more to lack of
support than TO the news. which, however,
favored lower prices. Other markets were
barley steady at slight declines, corn ana oats
closing 1sc lower each. and provisions de-
clining 2le@15c, pork being the weakest
thing on the list.
For a few moments after the start wheat,
compared with the weakness it developed
later was fairly steady. July started 4sc
lower to &c higher at from S9lsc 10 SS12c,
and May i2c lower at 81 .03 Letters brok-
ers appeared to have some supporting orders
in July at the start, and for this reason that
month showed steadiness until May Weak-
ened badly. Then July followed
Trading in May was very light There were
a good many more selling orders than the
limited demand could take care Of the re-
suit being decline to Sl.02. reaction to
$l.02&4 followed; then the market broke
again and worse than before May this time
going to N.Gl12.
The continued increasing production of
contract wheat by the mixers apparently
affected May. Forty-three cars Of No. l
northern were reported out Of private houses
today. and - cars came from regular sources.
Most of the routine news favored sellers.
Worlds shipments Of 600 coo bu were looked
for next week. Liverpool from sd to
sd lower. and the crop reports from Cali
fornia and India especially from the the latter latter
country. were very favorable. The days
clearances from Atlantic ports were equal to
322 0C0 hu. Northwest receipts were light at
1U9 ears. against 2i2 last week. and 80
year ago. Chicago receipts amounted to So
The weaEn IS which deve oped in May was
soon redccod in July. There was a coed
deal OF selling out by people who have been
failing or the Letter campaign and VINO
had become discouraged by the recent down.
ward turn to the market and prices in
spite Cf The Letter support, declined stead ly.
At around SSl.c for July. the market hesi-
tatrd for time. period of dul ness and
narrow fuctuatiOn sat in, but about half
al hour from the close the marl1e- developed
fresh weakness uuder renewed selling of
small lines, July getting down to sec. and
May. whics had in the meantime rallied to
~. declining to s1.O11..
Shortly before the close Letters brokers
again gave the market some support. this
time in May. the buying OF a line of about
100000 bu being sufficient TO cause rally
closing price. This rally also influenced
July 10 a lfmited extent stopping the SELL
ing pressure. and starting a little cover
ing. under which the price got back to SSA
a. e. Hh=re it closed.
Corn was held wei despite tie weakness
of wheat. May ranged from 29& 029Isc to
29i 2 2PS-" end closed Isc lower at 297sc
The steady feeling in was reflected in
oats. May ranged from 26lsc to 257sd26c.
and closed lSc lower at &c.
A large irade was done in provisions At
the close May pork was l5c lower at $40 3D.
May lard u. 'over at S5.12I5 and Nav ribs
sc lower al s.. or.
Estimates for Monday: Wheat. 50 cars;
corn. SEQ cars; oats, 4G5 cars; hogs. 81, ,OGO
head.
The leading futures ranged as follows.