The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-09-13

CHICAGO, Sept 12.-The government
crop report issued yesterday, stirred UP
wheat today, but a substantial advance
was lost late in the session. A large in
crease in the worlds visible was the in
centiVe for bear raid. December closed
unchanged and September &c higher
Corn closed without material change
Oats advanced agile for December and
closed a shade higher for September.
Provisions declined 56t1Oe.
At the opening in wheat the bullish
government crop repAt did not have any
appreciate effect on psices. On the con-
trary the market was inclined toward
weakness, the bears taking for their cue
the heavy Northwest receipts, offering
wheat in considerable quantity. The re.
suit was small declines in everything. 1t
was evident that the government report,
which indicated a total crop Of some
thing like 4S7, 000 600 blu, was not SO light
ly regarded In the country, for outside
buying orders began to stream in shortly
after the opening. The buying was so
brisk in comparison with the recent dull
ness that for the time being it took the
breath away from the professional bears
and prices shot upward with considerable
rapidity. December opened a shade
lower, at 71sc, and reached 715sc before
realizing became heavy enough to cause
q temporary setback. September opened
%dAc lower, at 711s070Ac, and advanced
to 711sc. December then reacted to 7l1sc
and September to 707sc, and around those
prices a good business was done. The tone
of the floor gradually became decidedly
bullish, the sentiment being strengthened
by heavy outside buying, and shorts COW
cred freely.
Prices kept on the upgrade until within
thirty minutes OF the close, with the
broadest business in weeks, December adj
vancing to 717sQ72c, and September to
71lgc This was we'll in call figures, but
no reaction of Importance took place until
the posting of Bradstreet's figures on the
worlds visible showing an increase of
4 935 600 bu. This was far beyond what
the traders had anticipated and had an
immediate effect Meantime shorts had
covered generally, and the selling move
ment which started found little opposi-
ton. Prices dropped rapidly from that
time to the close, though September was
given better support than the more dis
tant futures December was the object
of a determined raid by professional
bears, and at the close all of the early
advance had disappeared.
Minneapolis and Duuth receipts were
1872 cars, including two days receipts at
Duluth, compared with 1,426 last week.
Chicago receipts were 23S cars, IA of con-
tract grade. Total primary receipts were
100000 blu, against 1,492OOO blu last year.
Atlantic port clearances of wheat and
-four amounted to $4,000 bu. There was
no shipping demand here, but New York
reported 45 loads for export. December
declined to 1Q11Bc, and was bringing
that price at the close September de-
clined to 7O7sc and closed at that price.
Corn was fairly active and irregular
The market early felt the government re-
port, considerable outside buying being
done, especially in deferred futures The
strength Of wheat also had its effect.
Later in the day the market became weak
and all the advance was lost. Weakness
was more marked in September, due to
offerings of new Kansas corn for ship
ment, via gulf ports. Receipts heavy;
dS8 cars. The export demand was good.
December ranged from 2314c to 283s@2Sa4 c
and closed a shade higher at 2Sas@2S1Ac.
September closed a shade lower, at $40
311sc.
Oats were firm and higher, though not
maintaining best prices. The bullish gov
eminent report and the early advance in