The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-06-27

CHICAGO, June 26.-For few minutes
around the opening in wheat 1t looked
as if Saturdays sharp decline was TO pc
rcreted The same influences, heavy re-
ctipts, weak cables and favorable crop
conditions were present, and lnhuenceo
considerable new liquidation.
The opening in September was at 74A@
74ssc. compared with Saturdays closing
price of 7412@745sc. The market broke still
further at once, under heavy selling
pressure. longs liquidating freely and
shorts putting out new lines, September
touching 1850 on the decline. Covering
by two shorts who were satisfied with
their profits and buying against puts then
caused a rally to 74Ac but before IL
O'Clock the market started on a decline,
which carried it to a point almost cents
under Saturdays final price.
The trouble was again with the heavy
receipts. Minneapolis and Duluth report
ed GS1 cars against SAG last week, and
thirty-nine year ago. Chicago receipts
were 153 cars sey en- of contract grade.
The trade has become somewhat accuS-
toned to heavy receipts at those points,
but when Kansas City reported 300 cars,
compared with twenty-SiX a year ago,
prices went down with rush. The de-
cline was fast in fact that sellers be-
came too enthusiastic, and when alb ut
11:30 the liquidation of long wheat let
up temporarily, the market recovered
with a suddenness that indicated that
shorts had considerably oversold. There
was quite little scramble for cover for
a time, the price Of September advancing
to 745sG74$c before noon. On the adj
vance the market evened up to some eX-
tent, and the tendency thereafter was
downward. The news would admit of
nc other course when conditions were
normal, and prices gradually slipped off
tc 745c for September, which was the
quotation at the close. The visible in
creased 800. 900 bushels. This had some in
fiuenee on the early break. Total primary
receipts were 1,2lS,000 bushels, compared
with 100000 a year ago. The seaboard re-
ported forty loads taken for export. The
cash demand here was slow July liquida-
ton was especially prominent during the
morning, and a good deal of buying was
done later on the theory that this factor
had been eliminated.
Corn was sadly inactive and irregular.
The market was weak on the enormous
receipts 1881 cars, favorable weather and
the break in wheat. Elevator people were
free sellers. The market later became
firm and more than recovered the early
break. The cash demand was excellent
sales here being reported at 10000 bushels.
New York put the export engagements at
1,120 loads. Shorts covered freely during
the afternoon. September ranged from
SSM to 1850, ard closed Nc higher, at
34Ac
Oats, in common with corn, ruled weak
and lower early, but when corn advance
oats followed. There was a good de-
mand for July from shorts and this op-
ton closed &c higher The local stock
showed a decrease of 10000. The cash
demand was fair. Receipts were 374 cars
September ranged from PIX 6021Ac and
closed &c higher, at 21k@215sc.
Provisions were weak early, due to lib
eral hog receipts and consequent liquida-
tiCn by longs. An excellent cash demand
helped the market Iatei, nearly all the
decline being recovered. At the close
September pork was PIC lower at S. 321s
September lard shade lower, at $5121@
5l5,s September ribs a shade lower, at
$4S21AQ4S5.
Estimated receipts Tuesday: Wheat, 145
cars; corn, 1900 cars; 1865 cars; hogs, 23,
100 head.
The leading futures ranged as follows: