The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-08-02

CHICAGO, Aug. Corn was the big
market on change today, extremely ia
Vorable crop reports causing liquidation
that was heavy enough to cut 5sQ34c off
previous prices. Wheat suffered from
lack of cash demand and lost 19@5sc. Oats
closed sc lower. Provisions were rather
weak, but a shade higher
Pronounced dullness was practically
the only feature of wheat from the open
ing until within three quarters of an hour
of the close. During that time the range
of prices was but Nc and for long pc
RODS the pit was abandoned, the traders
going to provisions and corn where more
activity was apparent. The opening was
rather weak at 1sc lower, at 69120693sc.
1t advanced shortly after the opening to
69$4c, but soon fell back to opening prices
and until afternoon kept within the
range. A little liquidation was notice
able during the morning, although news
as rule was bearish, the absence of
selling pressure prevented a material de-
cline. Gables were lower, but did not
show the decline expected
New receipts were light. Minneapolis
and Duluth reported 29S cars, against 2S2
last week, and 50 a year ago. Chicago
receipts were 112 cars, four of contract
grade. Little new wheat was reported
among the receipts. Receipts at primary
points were $4,000 compared with 592, 600
year ago. Atlantic port clearances of
wheat and flour amounted to $4,000.
Bradstreet's report on the visible supply,
due about noon, had a tendency to re
strict trading In the morning, as a bear
ish report was apprehended. This sur
mise proved to be correct the decrease
being put at only $4,000, against 5,714,0 600
year ago.
About 1890 the almost complete alb
sence Of cash demand both here and at
outside points apparently impressed the
bulls with the futility of longer holding
their wheat, and a liquidation movement
started, which grew decidedly heavy as
the session grew to a close. The weak
ness shown by corn acted as a spur to the
disputed longs and large quantities of
long wheat came out on the decline. Pre-
Vious to the noon hour the September
price had touched 697s6G70c on a moderate
amount of buying, principally by shorts,
but it declined rapidly under the liquida-
ton, and shortly before the close touched
CSC. The close was weak at 691sc sellers.
Corn was weak and at times quite ac-
tive. The reports from the corn belt in
dictated a large crop. This and continued
favorable weather and large receipts
SS1 cars-started important outside liQui-
dalton. Local longs joined the selling
movement later, and prices declined
steadily. A redeeming feature was the
sharp cash demand, at least 100000 being
disposed of. September closed 3sQD2c low
er, at SOa9O1sc
Oats were dull and steady in spite of
weakness of other grains. There was a
fair export demand at the seaboard, and
enough buyers of September to keep the
prices steady most of the session. Con-
tract stocks, as a result of the July deal,
showed an increase of 534, 600 for the week
September ranged from 19c to 1872, and
closed &c lower, at 19c.
Provisions were irregular The market
was strong early and advanced sharply
on the more favorable reports of the yell
low fever conditions in the South Later
the break in grain markets started
liquidation under which nearly all the ad-
vance was lost The close was barely
steady. September pork, 213c higher, at
$S.2713; September lard, PFC higher, at
$525; September ribs, unchanged at $780,
Estimates for tomorrow: Wheat, Sc;
corn, $50; oats 80; hogs, $1,000.
The leading futures ranged as follows:
lODen- High T,OU-l Clos