The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-08-16

CHICAGO, Aug. 15.-Weak cables, alb
sence of cash demand and good spring
wheat crop prospects broke wheat badly
TO-DAY, sending the September price down
15sc from yesterday, while deferred fu-
lures were even weaker. Coarse grains
were weak with wheat, corn declining
kc and oats 7sQ1AC. Provisions declined
t4712c.
Wheat opened at a sharp decline, Sep
TENDER at 711sG7Ac, compared with yes
terdays closing prices of 71sc. A fur
Their small decline took place in the next
hour but selling, though continuous, was
not especially heavy during the morning,
and intermittent covering sufficed to
cause q number of small rallies. The
main factor was the weakness of Liver
pool. That market not only ignored the
advance here yesterday, but showed an
early decline OF sd, which was increased
to 1Rd before the day was over good
many bad threshing reports were received
from the Northwest, but Notwithstanding
estimates on the spring wheat crop put
the total at 1877 ,000 600 bushels for the
three big wheat states. AS the govern
ment estimates was but 1863, 000 600 bushels
this had a good deal of effect Fine
weather was also reported in the wheat
belt and this made sellers of the North
the more easy from the fact that during
the recent advance, shorts had generally
covered and bulls loaded up, and, in con-
sequence, attempts to liquidate were at
tended with some difficulty. This fact,
however, was not driven home on the big
holders until late in the afternoon. The
price meanwhile gradually declined to
7o9sc.
Late in the session new bear factors
presented themselves in the shape of
poor cash demand here, and an equally
poor demand at the seaboaTd. The con-
.
and more effect Of the local market. An
aggressive bear movement was started
which clipped fractions off the price rap
Idly until 707sc for September had been
reached, when liquidation dropped off to
a considerable extent.
BraGstreets report showed a visible de-
crease of 1.552.G90 bushels, but even these
large figures had little effect Minneapolis
ard Duluth repo,t ted receipts 203 cars,
comFaf ed with l;jJ last week and 245 a year
ago. Chicago receipts were So cars, four
of contract grade. Total primary re-
ceipts amounted to 512, geo against Cos coo.
Atlantic port clearanceS of wheat and
flour amounted TO 2G5, 900. There was some
selling by room traders on expectation
of lower cables tomorrow. September
rallied to IU4c and closed with sellers at
that price
Corn showed some steadiness early.
though opening lower with wheat. A good
CCuldnG Tor september from Shippers,
against sales of cash for immediate ship
ment supported the market. The cash
business was reported around 100000
bushels, and the seaboard reported 20
loads taken for export. Crop prospects
Were very favorable and cables lower.
The make. bsGKe readily when wheat
showed extreme weakness, prices for all
options declining. Receipts were Asst cars.
September ranged from 3G2sc to 3024c and
closed &c lower, at 3015c
Cats were dull speculatively with
narrow range of prices. Prices in the
main tended toward q lower level, in
sy mpathy with other grain markets. Ele-
VatOr people were sellers. The cash
demand was poor. Heavy receipts, 657
cars, had some effect. September ranged
from 1@13c to 19E8@1934c, and closed at
49, @19tsc.
Provisions were fairly active and weak
There were extensive September liquida-
lions mostly by longs, while October ribs
were sold heavily. The demand was
largely from shorts, and buying from
that class of traders caused some reaction
fl ON the bottom. At the close Septem-
Der pork was &c lower at $S.25; September
lard 5Q714c lower, at $515. and Septem-
Der ribs TIC lower, at S4.9755.
Receipts tomorrow: Wheat so cars;
corn, 26O cars; oats, 27O cars; hogs, 25,-
600 head.
Inc leading futures ranged as follows:
lOpen-IHigh-I Low Clos-