The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-03-10

CHICAGO, March s.-The deferred futures
in wheat again played an important part IN
the operations of that market today. They
showed more or less strength throughout,
bad crop reports bringing out buying orders
July and May made advances, but lost them
on realizing, each closing fractionally lower
September, the contrary, advanced %c.
Corn was quiet, but strong and closed 1sc
higher. Oats We're a shade better at the close.
Provisions were strong and advanced 712@
12lac.
Everything in the wheat pit showed
strength at the opening, July starting 40
&c higher at 9I14 @913sc. and May A@12c
higher at $1.0jG1054 The only apparent
reason the firmnes5 in European mar
kets, both Liverpool and Paris showing good
advances. Local news was, however, alto
gether bearish at first, and influenced by this
fact and the desire to realize on the opening
advance traders sold enough to knock prices
down very quickly.
Northwest receipts were again large, Min
neapolis and Duluth reporting 1874 cars,
against 1856 last week. and 500 year ago. Chi
cago received 81 cars, sc of which were OF
contract grade.
The more pacific aspect of affairs in Eu-
rope evidenced by the higher British con-
sols undoubtedly also affected traders.
The market for July and May as a conse-
Quence became weak, July declining to 907sc
and May to $1.04&. Tho usual long period OF
dullness followed which was in itself
weakening factor. The withdrawal of sup
port from tha market encouraged some short
selling by people ordinarily on the bull side,
which resulted in further gradual decline,
May getting down to $l.044 and July to 9O9sc.
This did not apply TO the more ue1erred 1u-
lures, however. Missouri state crop report
figures showing very low condition of win
ter wheat and a material contraction in The
area caused some interest to be taken in Sep
TENDER and December, the deliveries affected
by crop damage and all during the morning
those futures showed strength.
After II o'clock the market began to revive
all around. but real activity was visible
until about noon. when large export sales at
Baltimore for shipment to France, started
good buying which became fairly heavy when
large flour clearances from Newport News
were reported. Milwaukee reported that
wheat brought there from the Dakotas had
been resold to go back for seeding purposes.
The market continued strong until within
ten minutes of the close, July advancing to
e1Rc May TO $.052sc. and September selling
as high as SIC. In the last few minutes a
general realizing movement set IN and prices
slipped off very quickly. July closed at 90A9
90%c May at $1.04l2@1 O4%c, and September
at size.
Corn was only fairly active. The market
was strong principally affected by the ap-
preaching government report, which is ex-
pected to be bullish. Professionals pracu-
cally monopoized the trading. May ranged
from 3O2sc to 30lsc and closed &c higher ut
S0Lc.
Oats were quiet, but firm. The market
a sympathetic one with corn, no independent
features developing beyond the good export
demand. May ranged from 27G271sc to 267sc
and closed a shade higher at PIC.
Provisions were very strong, though only
moderate business was transacted. Small re-
ceipts of hogs caused moderate demand
from shorts at the outset, and the advance
resulting was maintained throughout the
close was steady, May pork 1214c higher at
5000; May lard 7l4GlOc higher at 5000
522lAc, and May ribs 7lac higher at $5.15@
b.1TI&c.
cars; corn $50 cars; oats, 225 cars; hogs, U.s.
G0O head.
The leading futures ranged as follows: