The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-02-15
MAY WHEAT DECLINED
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CHICAGO. Feb IA large increase in the
visible supply together with small clearances
at the seaboard today caused a decline III
wheat After an carly rise OF &c, May ieit
of with decline Of l405se. Corn lost $50
1Hc. and oats &c. Pork closed with loss OF
l1Gl2l@c. iard, &c and ribs, 2lsG5c. 80
UneXI ccted strength at Liverpool in add
ton to light primary receipts gave wheat
strong start. May opened 3sQ4sc higher, at
.3M fUi4c and as New York reported foreign
ers lair buyers of March and May wheat at
the ssaboard the price soon touched i41sc.
The same was true OF foreign business mere
the orders being generally to buy IN snort
wheat. The visible supply statement socn
forced itssf upon the attention OF the traders
and as It gave early evidence OF showing a
considerable increase, it was suggestive OF
caution to the buyers. There was an in
crease of l. 157 eco bu for the week bringing
the total up to 80, 900. The market, how
ever in anticipation of some such an addl-
ton to stocks, had become very heavy, and
before the actual msnt was made
the price Of May wheat had dropped to 1885,
and it got as low as 731sQ7SAc before it re-
covered from its declining tendency.
Chicago receipts were lbs ears. OF which 10
graded contract. Minneapolis and Duluth re-
ceiyed 7@S ears since Saturday morning The
worlds shipments TO Europe for the week
were S.SS2 600 Eu, and the amount en- ocean
passage was increased 10000 hu. The
clearances of wheat and -four for the day
were very small, amounting to only 10000
I he market ruled heavy all the time after
eocd deal OF long property was for sale ut
the Geclire
TIE lowest prices of the day prevailed as
the session was drawing to a close, May de-
Clinirg TO 12S4c. and resting at 72% @121Sc.
The early strength in wheat and higher
cables started corn firm. 1t was too freely Of
fereG, however. to maintain the rise it COM
mCTced WITH and when wheat withdrew its
support. it brought corn to the ground. The
increase Of 2,415 eco bu in the visible supply
against $50, 0G9 blu decrease the corresponding
week of last year, was sufficient discourage
ent in itself to account fer all the weak
ness that succeeded its announcement. Re
ceipts $50 cars. May opened 1s11c higher. at
S75sGS1Ac. declined to S53sQ37c, and closed at
37dS71sc
Numerous outside buying orders and a
good speculative demand from elevator con-
Germs strengthened oats. The break in the
other grains caused a reaction but the mar
Ret held fairly steady throughout the session.
Receipts, AS ears. May began 1sc up st 29c.
rose to z912c, sold of to 2S9sQ2SAc, and
closed at 2S2lc sellers.
Heavy receipts of hogs and lower prices at
the yards handicapped provisions. The mar
ket continued dull all day. while near the
end of the session weakness developed on
liquidation by holders which resulted in a
decline all around. May pork opened un-
changed AT $10.12l2, declined to $40 ard closed
at Sl0Ql0.02l2. May lard started a shade lower
at $50, weakened to S5.621a and closed at
S5.f2l2 @5.65. May ribs began unchanged at
S5.GIl3, declined to So. and closed at 500 0213.
Estimated receipts Wednesday: Wheat, 151 !;
corn, $50; cats AS: hogs $1,000 head.
The leading futures ranged as follows: