The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-08-19

CHICAGO, Aug 1S-Speculative wheat
market again basked in the sunshine of
an active cash demand An advance of
&c was scored in September and 1sc in
December. Corn closed irregular, MQ$sc
higher for September, but barely steady
for deferred futures. Oats closed a shade
higher Provisions advanced 212Q5c.
Liverpool. always an influence on local
wheat trading, showed a decline of Ad
which was unlocked for after yesterday
advance here, and had the result of de-
pressing prices about &c at the opening,
September starting at 11s@71Ac. The
selling pressure, however, came almost
entirely from small spectators, and was
OF q local nature. 1t was not heavy
enough to long depress prices, and soon
after the opening the market began to
rise and fer the remainder of the session
showed considerable firmness. Reports Of
a bis cash business done yesterday, in
dusttfously denied by the bear crowd
were confirmed today, and the influence
of the cash demand was augmented by
further heavy bids today. The actual
amount of business done could not be
ascertained, as shippers would not give
out their transactions until freight rates
had been secured, but rumorS of large
quantities worked were so frequent that
they had a marked effect on the specula-
ton.
Heavy rains in the Northwest were re-
ported and apprehension of wheat sprout-
ing and being otherwise damaged IN
creased the buying. The continued dis
appointing threshing returns from the
Northwest strengthened the belief that
recent crop estimated were too large.
Commission houses had numerous bids
from the East based on foreign demand
bu. the actual article was hard to get,
elevator people refusing to let go. The
cash business late in the day was put
at 320CO0 bushels, but it is questionable
if this amount was worked. Shorts
bought heavily at times, and this bulled
the market, bringing the smaller fry to
cover. Professional longs also took con-
siderable wheat September advanced to
72c. well above calls and a good deal OF
realizing was done around that price, re-
sulting in a reaction to 719s01%c.
Minneapolis and Duluth receipts were
2l2 cars against 115 last week, and 1877 a
year ago. Chicago receipts were 81 cars,
six of contract grade. Total primary re-
ceipts were 521, 900 bushels against $50, 900
bushels last year. The fact that primary
receipts are now daily under last year
was no small factor in the strength. At
lantic port clearances of wheat and flour
amounted to $4,000 bushels. Northwest
stocks will probably decrease 1,500 600
bushels, and a decrease in the world 9
visible was looked for
The demand for September was much
greater than for the more deferred fu-
lures, and December and May in con-
sequence showed but little advance. Sep
TENDER closed firm, at 713s@J124c.
Corn was firm for September, barely
steady for later months and dull for all.
The strength of September was due to
the small receipts, the strength of wheat
and the good cash and export demand.
Receipts, 1873 cars. September ranged
305s@3094c to Gle, and closed AQ$sc net
higher, at Sic.
Oats showed more actively than usual.
The market was a counterpart of corn,
firm for September, but barely steady
for May. Receipts, 307 cars. September
ranged from 1890 to zoe and closed a
shade higher, at 19SQ20c.
Provisions were strong, with a some
what broader market, prices advancing
all around. A consumptive demand was
reported by packers, and this was the
basis of the speculative strength. At the
close September pork was DC higher, at
$S.3232; September lard PIC higher, at
$5.2219; September ribs, 21a@5c higher, at
$5.1e@51215
Estimates tomorrow: Wheat so cars:
corn, 80 cars; oats, 575 cars; hogs, II,
900 head.
The leading futures ranged as follows:
Open High Low Clos
aGt