The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-01-21
WHEAT RULED STEADY.

CHICAGO Jan. 20.-The expectation that
some Of the prosperity shown in the stock
market must soon manifest Itself i'll the
grain trade, together with heavy clearances
at the seaboard. today, with no sign oil the
foreigners becoming oversupplied, sustained
prices in the wheat pit and May closed un,
changed. Corn left of shade easier, ana
May trine lower Pork advanced aQ!1ac
and lard and ibis 2lSG5c each.
SteadineSs at Liverpool and predictions CT
cold weather gave wheat fairly good "a irt.
May opened shade higher at lose anu as
there was very little for sale II touched
70%c in q few minutes. That was the turG-
ing point, however. as longs began to Equi'
date free.y while there was plenty Ior sale
fer the short account and May got down 10
70I4c before the first hours trading had
elapsed. The change in sentiment was due
TO the beariSh Interpretation OF the report OF
the Russian wheat crop, which showed an
increase Of 81 000.C00 bu over last year, but
100, 600 900 smaller than the previous
estimate % the Russ,on minister OF agricui-
ture Argentina shipped 10000 Blu wheat to
the continent this week. thus inaugurating
her export business for the season. That
had a depressing effect. but the bears were
unwilling to expose themselves to any heavy
risk on the short side in face of so much In
sistence upon the statement that many specu-
lators with big profits from the stock market
were feeling very friendly towards wheat
Chicago receipts were l02 cars Of which
eight graded contract. and Minneapolis ana
Duluth reported 504 cars received, against
$50 a year ago The aggregate Of the pri-
mary Western market receipts was about that
OF a week ago. about 597 900 blu. Atlantic
port ciearancss however, were large, amount
ing in wheat and -four 10 nearly 600 900 blu.
This had stimulating effect, and as the
bears appeared 10 be satisfied with what they
had already accomplished. May gradually re-
covered TO 70l&G709sc and was bringing that
about half an hour before the close. 1t
touched 703sc a little later and closed with
buyers at 70iaGT05sc.
Corn started strong, under the false i'm
preston that the damp weather would cause
a rally. On the Improvement a perfect ava
lanche of long and short corn was tumbled
vanished. During the last hour the market
showed some signs Of revivng on scattered
buying, brought about by the relaxing stiff
ness of esatbound railroad rates. Receipts
were 452 cars. May opened &c higher at
S7G37Isc declined TO 365sc then frmed up to
&c the closing price.
Oats were dull during the entire session.
There was no inquiry for cash and the sample
market was weak without any material
cars May started unchanged, sold down to
272s@27I2c and closed at 21ia@2Issc, buyers.
Foreign buying of lard early strengthened
provisions. Heavy buying of pork and ribs
by commission houses during the latter
part Of the session added 10 the advance. May
pork opened unchanged at $10.1212 improved
TO Sl0.25 and closed at $1022I2q1025. May
lard began unchanged at $5.7712G5.S0 and
closed at S5.S0G5 SPY May ribs started I'M
changed at $505G5.0712: rose to $o.10d5.121s,
and closed at $50, buyers.
Estimated receipts for Saturday: Wheat, 100
cars; corn, SIS ears; oats, 200 cars; hogs g.,
600 head.
Tie leading futures ranged as follows:
ODen-l Hiph-l Inv Gins