The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-07-20
WHEAT LOST A CENT
VALUES OF GRAIN CONTINUED TO
SHRINK ON THE BOARD OF
TRADE YESTERDAY
TRADERS WERE OPTIMISTIC
September Opened at n Decline, and
Perfect weather Everywhere In
the Wheat Belt Had Its Effect
Upon Prices-COrn Prospects, Be-
ing Bright for Big Yield, Held
Down Prices of That Grain.

CHICAGO, July 19.-Values continued to
shrink ON the board OF trade today.
Wheat closed at the bottom of a l cent
decline; corn lost sc, oats sc, while pro-
Visions closed unchanged to TIC lower,
the latter in pork.
Wheat traders were in optimistic mood
in regards to the new crop at the OPEN
ing OF the market. september opened at
a decline of 14Q9sc, with initial trades at
7C%@T1c. A few fives changed hands at
711sc Immediately after the opening. This
was the highest quotation today. Perfect
weather everywhere in the wheat belt,
primary receipts unprecedented at this
time of the year, lower cables from both
England and the continent and the entire
absence of demand for cash wheat were
a few of the items in the carly batch of
news which brought long wheat into the
market in great quantities. Puts at
705kc Steadied the market for a time, but
as soon as buying against these privileges
was over the decline began afresh and
continued until the closing gong sounded
Primary receipts amounted to an even
million bushels, against S4S,00O year ago.
Minneapolis and Duluth receipts, 416 cars,
against 60 last year. Atlantic port clear
ances OF wheat and flour amounted to
10000. Local receipts We're 12O cars,
against eighty-seven year ago. Septem-
Der touched 70Ss0I701ac about noon. At this
figure all the shorts put out in the last
few weeks showed fine profit and there
was considerable covering, enough to rail-
ly September to Tic. But the shorts ap-
peEred to be the only buyers and the mar
ket fell of it's own weight to 70Ac and
closed at 70Ssc. a net loss of 7sQ1c.
Fine weather for growing corn and lib
eral receipts were again too much for
corn bulls and with a weak wheat mar
ket the combination in favor Of short
sellers could not have been better. Pri-
mary receipts were SIS, 900 bushels COM
pared with 414000 a year ago. At this
news as a starter, September opened &c
lower at 3215Q324sc. Many belated longs
threw their holdings into the market and
p steady decline ensued to the close, with
net loss of &c. Receipts were 406 cars
against 256 year ago. Export and do
mestic cash demand was reported much
Improved.
Oats followed the other markets on a
small scale, without special news affect
ing the conditions. The market held re-
merkably steady a greater part of the
session. Just before the close one of the
local bull leaders became a heavy seller
and his offerings were not absorbed with
cut corresponding decline. Local re-
ceipts, 10 cars Cash demand was slack
September opened a shade lower at 201kc,
sold at 2O1sQ2OAc, declined to 1870 and
closed at 1880, a net loss of &c.
Provisions opened strong, in sympathy
with an advance of 1Od15c in hogs Profit
taking soon wiped out these early gains
and the market ruled rather heavy until
the close. There was no particular news
to bring about a decline, other than the
weakness in grain. September pork clos
ed at $9.2212, net loss of TIC; September
lard closed at $5.5712; September ribs clos
ed at $5.25, a net loss of PIC
Estimates tomorrow Wheat, IS; corn,
BIO. oats, 1870; hogs, $4,000.
The leading futures ranged as follows
lOpen-I Tigh-I ToUJ-I CIOS