The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-01-08
MARKET SUMMARY.


CHICAGO. Jan. Good milling demand
and heavy exports again made a strong wheat
market today out of rather weak one, the
May option closing at 11sc advance over yes
terdays figures. July was also strong ad-
Vancing &c. Corn and oats were firm and
higher, the Latter which closed AQ%c higher,
while corn advanced 1sc. Provisions closed
bQ1212c higher.
Wheat opened a shade under yesterdays
closing price, but soon recovered. For an
hour the direction of prices was steadily
but cautiously upward. From 90bc at the
start, May had risen by 1890 to size bid.
The early slight decline was due In part
to reports Of rain in California, where yes
terday 1t was said wheat prospects were
being injured by drought. An advance at
Liverpool of 12d was not quite satisfactory,
after decline there yesterday of 1Bd. Paris
likewise quoted prices of wheat 80 centimes
lower for near and 20 centimes lower for re-
mote deliveries. The Minneapolis and Du-
luth receipts were 233 cars, against 5O7 the
corresponding day of the week before, and
1f8 the similar day of last year. Chi
cago got So cars, compared with 25 a year ago.
VI the days receipts, only three cars were
contract, but and 5000 blu No. 1
northern spring were transferred from un-
licensed houses
Trade was not heavy nor otherwise remark
able during the first hour, except for the
gradual requirement of strength. That
strength came from various sources. Duluth
cash wheat was reported to be 1hc per bu
higher within ten minutes of the opening
than 1t closed last night. New Orleans re-
ported clearances from that port of 10000
bu, which was taken as an indication of lib
eral aggregate exports of wheat and flour
for the day. The signal service predicted
N. OUyp6 nv cold
large part of the winter wheat country.
The market received additional stimulus
from the Atlantic and Gulf port clearances.
winch aggregated 100000 bu, and by 1880
May had advanced to 911ac. Local milling
demand for carloads Of off grade wheat was
such that May price was paid for some No.
spring. Minneapolis reported 31ac premium
over May price paid there for No. north
ern, and excellent demand for all grades
on spot and to arrive. The Liverpool mar
ket closed at from I'D to ed advance on
me previous days closing prices. The mar
Increase of from 100000 blu to 1000 600 blu
Monday, but the sharp cash demand and re-
ports from New York of good export en-
gagements made the market firm late in the
session May sold at 917sc at the close, the
high point OF the day.
The market for corn broadened out some
today, and trading was fairly active and
general. Prices were helped by the strength
shown by country offerings. The strength in
wheat was also helpful, as was the ratified
condition of east-bound rates. May closed
grains, both in strength and activity. Ship
pers were free bidders of buyers and shorts
were active buyers throughout There was
said to be a revival of the export demand,
and claims of heavy business yesterday were
made, Market was also helped by the break
In rail rates. May ranged from 24c to 23asc,
and closed Nose higher at 23Bc
Provisions, though not specially active,
were strong. The market at first showed
home inclination toward easiness, but the
strength developed in all the grain markets
encouraged buyers and caused some covering
by shorts. Selling was scattered. The adj
vance was well maintained to the end At
The close, May pork was 12bc higher at $685..
May lard &c higher at $487lk and May ribs
NC higher at $40. Estimated receipts Sat
Grday: Wheat, 40 cars; corn, 400 cars; oats,
b60 cars; hogs, 25,G 600 head.
The leading futures ranged as follows: