The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-10-07

CHICAGO, Oct. 6.-IrrespOnsiVe cables,
q big crop estimate by Snow, and the let
TING 90 Of long wheat by ST. Louis were
the principal factors in d decline in wheat
here today, December and May closing
7S0lc under yesterday. Corn was firm
with Liverpool, closing 1sQ12c up. oats
We're steady closing unchanged to
shade lower. Provisions showed lnslg-
nifcant closing changes.
Wheat was weak at the opening, LlV-
erpool failed to show the advance expect
ed, in view of the war rumors and the
effect was discouraging to the bulls. The
market opened 1sc under yesterday s
close, December at 734@733sc, and May
at 76l4G763sc. Large Argentine shipments
were also an influence tending to weaken
the market. An increase of 100000 bu
in the stocks at Minneapolis and Duluth
was reported, and Snow estimated the
crop of wheat at 564, 100000, considerably
over the government estimate. with
these bearish items longs began to I'M
load on the market, and the price stead
lily declined. ST. Louis, which for some
days had been a strong support to the
local market let go Of a long line. Less
important liquidating was done by local
and other outside traders December de-
clined to 7215c There was some covering
by shorts at the decline, and this and
buying against puts caused reaction
in December to 72%c. But the liquida-
ton was too general for the market to
stand up under, and December again de-
clined to 7212@725sc, at which 1t closed.
May wheat ranged at 75ssG7512 to 1910
1850 and closed at 7512c. Chicago re-
ceived 135 cars; Minneapolis and Duluth,
1,014, against 500 last week, and 1,019 a
year ago. Total primary receipts were
12S4 900 bushels, as compared with L.
III goo a year ago, Atlantic port clear
ances of wheat and -four amounted to
10000 bushels. New York reported 50
boatloads taken for export.
Germ early was strong and higher in
sympathy with the Liverpool advance of
fad. The higher price of the English
market was taken asian evidence that
the increase in freight rates will come
out of British pockets rather than from
here. The local price was helped by an
impression quite generally prevailing that
crop estimates have been too liberal. Ow-
ing to the scarcity of cars the shipping
business was slow. Local receipts were
546 cars. New York reported ia loads
taken for export. December opened at
3o1s030Ac, ranged from 30c to 30Ac, and
closed nc higher, a 3O1sd3OAc.
Oats We're extremely dull, but steady.
The market in general followed corn. The
entire range was only &c. Receipts here
were PSI cars. Clearances were 209 900
bushels. Snow put his estimate of the
crop at S69000000 bushels, compared with
his estimate of 799,OOO,OOO last year. De-
cember ranged from 22$4@227sc to 227s@
23c, and closed unchanged at 22Bc
Provisions barely held their own show
ing with hogs, which were to 1Oc up.
Hog receipts were less than expected,
21,00O head reaching the yards. January
pork closed at $9.7215; January lard closed
at $5.5712; January ribs closed at $40
Estimates tomorrow: Wheat, 1873 cars;
corn, 815 cars; oats, $40 cars; hogs, $4,000
head
There will be no session Of the Chicago
board of trade on Monday, Oct 9, Chi
cago day.
The leading futures ranged as follows: