The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-10-02
ENORMOUS RECEIPTS, AND IN
CREASING RUSSIAN OFFERINGS
THE CAUSE
CORN AND OATS STAGNANT
Declines Are Noted in All Lines of
Cereals - Estimates of Large
Crops Here and Abroad We're at
the Bottom of the Wenkness in
wheat-Tr"dins Was Excessive
ly Dull Despite Lower Prices

CHICAGO, Oct. 1.-Enormpus 4receipts of
wheat at primary Western points, increasing
Russian offerings and estimates OF, large crops
here and abroad. were at the bottom of the
weakness shown by wheat today Besides
trading was excessively dull - December
closed at 1ac decline. Corn and oats were
stagnant, each market declining about nc in
sympathy with wheat Provisions were
weak, partly on account Of grain, and partly
on bearish independent features. closing 71a@
15c lower.
The opening in wheat was at slight ad-
vance over yesterdays closing price Decem-
Der starting at 62%c. The Improvement was
apparently due to Bradstreet's figures on the
weeks exports, which were put at $50 900
blu. compared with 5,025 000 blu the previous
week. This had caused strong curb mar
ket yesterday. and the strength was still
noticeable in todays operations. Shorts were
moderate buyers for short time after the
start, buying being heavy enough to cause a
further slight advance, December getting to
Then the market began slQwly! to weaksn, and
for the rest Of the short session the trend of
prices was steadily downward There was
plenty Of news Of bearish tenor, but trading
was soon extremely dull many Of the most
prominent brokers having gQpe to Omaha to
witness the peace festivities at the exposition.
The decline was very gradual. Northwest
FeGeRy wfrs heavy aHans m and .t Duluth
and 1888 year ago. Chicago receipts were
S87 cars, So of contract quality: Primary fe-
celpts for the day We're ,6s2, 900 bu, Which
were Gaf largely in sxssS5 q last years. Atlantic
and Gulf ports amounted to 625 COO bu,
Brokers reported an almost entire absence Of
cash bids at anything approaching a working
basis. Liverpool was Ad loWer for futures
though spot wheat was unchanged. London
reported freer offerings of Russian wheat
This, with foreign estimates of Russian and
worlds crop, both of which were very
heavy, deepened the depression in the local
market. The Orange Judd Farmers estimate
Of 700, 000 900 bu as the United States crop also
helped to push the prices downward. The
market became very heavy towards the close
demand almost dying out. December dropped
to &c and closed at 624 621Ac.
There was very little trading in corn, and
prices changed very little. Trading was easy
principally through sympathy with wheat
Cash demand was slow. Receipts were 4sS
cars. Clearances we're moderate. Country
ranged from 2sss@2912c to 2914c, and closed
at 29Ac
Market for oats was stagnant, the pit at
times being almost deserted. Prices were In
iuenoed by wheat and corn and averaged a
little lower. Elevator people were swept Of
May There was no fresh inquiry. May
ranged from 225sc to 22asc and closed d
shade lower at 222s@221ac aI
Provisions were dull and heavy. The open
ing was lower on yellow fever news and
heavy lard deliveries and a still further de-
cline resulted from sympathy with wheat the
ers bought sparingly of ribs. At the close
June pork was 15c lower at s9.02k; January
ribs, Zoe lower at $4.671a, and January lard
10c lower ar S4.S5.
Estimated receipts for Monday: Wheat,
corn oats, no estimates. Hogs 5000 head.
The leading quotations ranged as follows:
Open High Low Clos