The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-08-25

CHICAGO, Aug. M.-Wheat was isree
uiar today, changing quickly several
times from strong to weak It was in
the latter condition at the close, with d
decline of 3sQ7ac showing. 1t was mostly
a professional market, news being of
minor Importance. Corn advanced l4u
for September on the shipping demand
and closed a shade lower for December.
Oats advanced lac. Provisions closed a
shade higher. Flaxseed showed an
other remarkable advance, closing about
4c higher for cash.
The opening in wheat showed no
changes from yesterdays closing price,
for either September or December, and
with little inclination among traders to
attempt TO force the market in either di-
rection. The prepondefance of senti-
ment favored the buying side at first on
account of an error in the Price Cur
rent crop estimate, which made the 10
tai 475,0o0,000 on the advance of I'D at
Liverpool and the continued small re-
ceipts. A mild covering movement, most
ly by local shorts, caused slight ad-
vance in September and more material
gain in December, but before the first
hours trading had ended, the market
turned suddenly weak and dropped with
a rapidity that was painfully surprising
to longs.
September opened at 721s@2s, and ad-
vanced to 745s0%c. At these prices d
selling movement started that was much
too heavy for the demand. Desire to
take profits was apparently the princt-
pal motive for most of the liquidation
but a great deal of professional selling
was done when it became apparent that
the market was easily influenced, and
this feature of the market was taken ad-
vantage of by professional scalpers sew
eral times during the day to hammer
down the price. The result was a de-
cidedly nervous market for most Of the
session, though trading at no time was
really heavy saES-fss&
Private adviCes in regard to the North
west crop conditions were favorable, and
this Influenced some selling, following as
the reports did the recent complaints
of weather damage. The market
was rallied by the reports of a good
cash business and export engagement Of
about fifty loads, but prices were quickly
hammered down again. Northwest re-
ceipts were PSI cars, against III last week
and 504 a year ago. Chicago receipts
were 10 cars, of contract grade. To-
tai primary receipts We're $4,000, against
S57 600 last year Atlantic port clear
ances amounted to 1884 600 bushes Cor
rected figures on the Price Current es-
innate made the total wheat crop &c.
100000 more than was first announced.
This was the cause of a weak spot when
the figures were given out. The market
was on the downgrade at the close,
September finishing at 7194c, and Decem-
beI at 737sc.
Corn was quiet and irregular Sep
TENDER was strong on the excellent ship
ping business which caused a good deal
of covering by shorts. Shippers were
als>, good buyers. The more distant flu
lures were firm early, but weakened la
],
steady Receipts were $50 cars. New
York reported 60 loads for export Sep
TENDER ranged from 314@3sc to 31Ac,
and closed &c higher at 3l3sc. December
closed a shade lower at 2S3sQAc.
The market for oats was a narrow
and steady one, with prices keeping with
in range of about Ac. The demand was
not especially urgent light offerings
having more to do with the slight adj
vance. The cash business continued
large, about 800, 900 worked today and this
and sympathy with corn were the fac
tors Receipts were 1852 cars Septem-
ger ranged from 20 to 20Ac, and closed
&c higher at 20Ac. December closed &c
higher at 1934G7sc.
Little was done in provisions and the
market was practically featureless
Prices advanced somewhat shortly after
the opening, with grain. Softness de-
veloped later but in the afternoon the
market firmed up again and closed
steady Trading was mostly local The
cash demand for meats was only moder-
ate. At the close September pork was
Q shade higher at $S.321z; September lard
21bc higher at $5.221a; September ribs PIC
higher at $5.15.
Estimates tomorrow: Wheat, IS; corn
300; oats, SIS; hogs, $4,000.
The leading. futures ranged as follows:
IODaD lT5iS~h-I 7 owl CIO9-