The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-06-25
WHEAT AGAIN DROPS
TOUCHES THE LOWEST POINT 1T
HAS REACHED FOR SEVERAL
WEEKS PAST
CORN AND OATS WERE HEAVY
Wheat Opened Weak, and Decline
at Liverpool Helped the Bear EIe-
ment Crowd Matters - Northwest
Receipts Were Again Heavy, Pre-
venting Attempts at Rally
Corn Ruled Dull All the Day.

CHICAGO, June 24.-Wheat today sold
at the lowest point it has touched for
several weeks, and closed at a decline
of 1Ac from yesterday. Continued enor-
nous primary receipts and evidences Of
large visible increase discouraged even
the most sanguine bull. Corn and oats
were heavy in sympathy, and closed nc
and A@asc lower. respectively. Provis-
ions were in better demand and adj
vanced 214Q5c.
Wheat opened weak at 75ss@1ac for Sep
TENDER, compared with yesterdays clos
ing price of 76A0ssc. Liverpool showed
closing decline of A@Ad, considerably
more than had been looked for.
Northwest receipts were again heavy,
Minneapolis and Duluth reporting Sl3
cars, against 597 last week, and sc year
ago. Chicago receipts were 9S cars, four
of contract quality. Shows crop re.
port was decidedly bearish in tone, talk
ing favorably of the crop prospects and
materially raising the estimates on the
total yield for the year, putting both the
winter and spring yield at 275, 900, 000 a
total of $50, 900 bushels. The total re-
ceipts at the Dig Northwest points for
the week was 1928 cars compared with 54S
a year ago. This contrast was more than
any wheat holder could stand and liquida-
ton was heavy at the opening. The
however, acted as a steadying influence
on the market for time, as considera-'
bic buying was done to protect those
privileges
The market touched 75Ac Immediately
after the opening, but recovered to 1880
and held at about that price until about
II o'clock, when a decline ensued which
carried the price to a point lower than
has been touched for weeks. Total pri-
mary receipts were 900 blu, compared
with 11G,000 last year. Atlantic port clear
ances amounted to $4,000 bu, New York
put the days export engagements at
forty loads. This was not very encour-
aging, in view of the foreign crop damage
reports and the heavy domestic receipts
And the liquidation which had been
gradually growing in volume, became
general when figures were posted show.
ing a probable increase of about a million
bushels in the visible, compared with a
decrease last year of over 800, 900 bushels.
Even the most sanguine bulls threw over
their holdings, or as much as they could,
for the demand was small at the best
September finally declined to 741Ac and
closed weak at 741a@%c
Corn was slow and heavy all day Re,
ceipts were large, 1,122 cars. Crop reports
were favorable and the cash demand was
only fair, sales of 100000 blu be-
ing reported. The weakness of
wheat was an influence. The early
decline brought out lot of
long corn, which, however was fairly
well absorbed. September ranged from
S4c to 34Ac, and closed Nc lower at
341hc
Oats were quiet and lower, the market
sympathizing with the weakness of other
grains A feature was the free liquida-
ton of July. Commission houses generally
were sellers and the cash demand was
moderate. Receipts 239 cars September
ranged from 21as@5sc, and closed A@2sc
lower at 213s6D15c.
Provisions were a shade easier at the
start, but a demand from shorts soon
developed at the concession and prices
recovered quickly. The excellent cash
demand undoubtedly Influenced buying,
as did also the prospects of an amicable
settlement of the labor troubles at the
yards. At the close: September pork
was sc higher a $S.35; September lard,
213G5c higher at $5.15; September ribs 21k
Q5c higher at S4S5
Estimates for Monday: Wheat, 140 cars;
corn, 1,325; oats, 240; hogs, 10000
The leading futures ranged as follows:
Open High Low-I- Clos