The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-12-19
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CHICAGO, Dec. 1S.-Indications that the
war in South Africa has reached proper
tiOns sufficient to actuate marked i'm
provement in the foreign demand caused
a sharp advance In wheat today, May
closing 124c over Saturday. Other grains
were influenced by wheat, May corn clos
ing Sc and May oats HQ3sc higher. Profit
taking depressed the provisions market,
May pork closing 712c, May lard &c and
May ribs nc lower.
The small worlds shipments, the de-
crease on passage and other statistics
rather bulIish were completely overshad-
owed IN the wheat pit by the foreign
news. The call for additional volunteers
for the British forces in South Africa
alone, it was believed, increases the i'm
pOrtance of the Boer war sufficiently to
stimulate the grain market.
The strength of Liverpool and the vigor-
Gus buying Of foreigners was sufficient
support for the theories Of the local deal
ers and the market, strong at the open
ing added to it's strength throughout
the session. The crowd in the pit was
large, the activity and volume Of trade
greater than it has been before in months.
May opened 15Q3sc over Saturday at 69B
Gl70c. Shorts covered, but offerings were
not liberal and the price advanced 20
7O1ad705sc. From this point the market
early dropped off to initial figures on
selling against privileges, as the price
was far above calls. But this was re-
gained, and from that point to the close
the advance was persistent.
Outside buying orders were on the floor
In force, shorts became fearful and COW
cred at substantial losses, and through 1t
all the foreigners bought literally, alb
sorbing every offer not otherwise dis
posed Of. A few minutes before the last
trade had been made May was 71Ac The
close was 124c over Saturday at 71sc.
Primary receipts were 697. 400 bushels,
against 1921, 200 bushels last year. Min
neapolis and Duluth reported 554 cars,
against $50 last week and 1.495 a year ago.
Receipts here We're Sc cars, of contract
grade. Atlantic port clearances in wheat
and flour were equal to 271,6O0 bushels.
Local stocks increased 1,179,000 bushels
New York reported % loads taken for eX-
port.
Corn was firm with wheat and the
market rather active. The strength Of
wheat was the factor. The response
however, was held in check to a degree
by some liberal profit taking. The ex-
port demand was good. Local receipts
were 259 cars. May ranged from 1850
891ac, closing sc up at 1880.
The animation and strength Of wheat
produced only a drowsy movement in the
oats market. Receipts were 22S cars. May
sold from 241sc to 249sc and closed 1s@Ac
better at 241l@249sc.
Provisions opened strong and there was
an early advance with wheat, but this
was lost on realizing, principally by New
York longs, who were Influenced by the
Wall street situation. The liberal sup
ply of hogs and lower prices at the yard
had something of a depressing effect
May pork ranged from $1O271a to s1O.55
and closed TIC under Saturday at $1O.321z
May lard from $5.571h to $50, closing sc
under at $3.50, and May ribs from 5000
5.421A to $5.55, and closed TIC down at
S54214G5.45.
Estimated receipts tomorrow: Wheat,
100 cars; corn, SIG; oats, 22S; hogs, $4,000
head.
The leading futures ranged as follows:
lOr.o,a -lIIicrl, larIr q CIoc