The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-03-17
MARKET SUMMARY.
FINANCIAL.

CHICAGO. March 16.-The exceptionally
favorable weather caused the most general
liquidation in the wheat market that has
taken pace for some time. July wheat at
one time showed break Of nearly &c. The
closing decline was lAGl2sc, covering by
shorts being responsible for the reaction. Corn
and OATS suffered from the liquidation in
wheat and closed sc lower, and 12c lower.
respectively. Provisions were slow and showed
little change at the close.
Wheat was very weak at the opening. The
beariSh sentiment among traders on last
nights curb, resulting from the continuance
OF remarkably favorable weather prevailing
over the entire winter wheat section. was re-
hected fully. Opening prices for July ranged
from S5Ssc to S5Ssc, against yesterdays clos
ing OF S51sc. For moment or two the mar
ket heSiJated. The opening decline in it
self was sufficient TO induce covering in a
moderate degree, and the market recovered
fraction, selling at S5l2c.
That, however, the extent of the bull
lShneSs. offerings soon began to come In
from ali directions, holders apparently being
discouraged at the excellent crop prospects.
The decline also brought in stop loss orders,
and the pressure was greatly increased by
prominent ST. Louis operators offerings from
that source being exceptionally. The mar
ket fell pretty steadily to Sic becoming
quite nervous al around the bottom. A re-
action then ensued Professional shorts and
many early sellers came into cover lines
showing good profits, and the market grad
ually assumed a degree of steadineSs.
By noon prices had recovered TO Soc. During
this time May was steadily held by the
fact, was maintained throughout the session.
although one or two sales were made at
S103l2.
Besides the fine weather, Which was the
0vershadowng influence, there 2ooG
deal of bearishness in the routine news.
Northwestern receipts were 26l ears, against
SS4 last week, and 231 a year ago Chicago
receipts amounted to Ill ears, II of which
were of contract grade. The total addition
to the contract stocks today amounted TO
about 6S,OOO bu, 90 carloads and 4,500 bu
coming from private houses. Liverpool cables
showed weakness all day. Clearances were
light at 17S,000 bu.
After noon the market again declined.
Shirts had by that time been filled up, and
when the marNet lost this supporting influ
ence, prices sagged at once. This brought
sellers into the mail et again in increased
numbers. July, from S5lsc, which point WAS
reached for shot time was pounded Down
to S4Ac, and was bringing S412@S45sc at the
close.
Corn suffered from liquidation and short
selling and prices declined sharply in or
sequence. Fine weather and the wheat weak
moss were The factors. Selling was Quite
general all day, and hut little support was
given. A fairly good cash business was done
on the decline. May ranged from 297sc to
29lsc, and closed Sc lower at 1914 629?c.
Liquidation in GA was quite as free and
general as was t. case in corn, and tie
market was weak all day. Wheat and corn
were the influences. A coed deal of long
property was disposed of, scalping and pro-
fessional shorts als) pressing the market.
There was some rally from the bottom on
" ms Ce'Sh t''iiiu was SOou dt the uS-
cline. May ranged from 265s261sc to $500
2512c, and closed 12c lower at 251a6257sc.
Provisions in the main steady con-
sidering the weakness in grain. This was g
factory early, there being some sympatheti,
selling, and prices declined somewhat. Offer
ings at no time were heavy, and moderate
buying ly shorts the decline caused a
recovery. The market ruled steady within
narrow range to the close At the close
May pork was 2lac lower at $9.771a; May
lard 2l2c lower at $5.c5 and May ribs IN
changed at $5.O5ls.
cars; corn, 200 cars; oats, 195 cars; hogs,
5000 head.
The leading futures ranged as follows: