The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-08-24
AN ADVANCE OF FIVE-EIGHTHS
TO THREE-FOURTHS RECORD
ED FOR SEPTEMBER
SHORTS DRIVEN TO COVER
Opening in Wheat Was Strong, with
Substantial Advances in Both De-
cember and Superintendent News
Came In From All Directions,
Liverpool Showing n Handsome
Advance-COrn and Oats Dull.

CHICAGO. Aug. 29.-Wheat became a
strong bull market again today and
closed at advances of 5sd$4c for Septem-
Der, and $sQ12c for December. Rains in
the Northwest, strong cables and u
good cash demand caused extensive COW
ering by shorts. Corn was strong on
the cash demand and closed 1z13sc high
er Oats closed a shade higher for Sep
TENDER and May, but a shade lower for
December. Provisions closed unchanged
to 10c higher.
Wheat opened strong at substantial
advances in both December and Septem-
Der, the latter starting 1403sC higher, at
741sQ74Ac, and September CSC higher, at
717sc. Bull news came in from all direc-
lions. Liverpool showed an advance of
I'D. The weather in the Northwest was
again wet, with prospects of a continu-
ance of the rains and receipts, compared
with thase Of last season, were conspicu-
ously small. The wet weather caused a
good deal of buying last week, and it
had the same effect today, as there was
much apprehension of serious damage
resulting.
The opening advance was stubbornly
fought for a time, especially in Deem
Der, where slight decline took place
soon after the opening, the price easing
off But the news was too much against
the bear side of the market and before
II o'clock prices had scored a substantial
advance, September advancing to 73c and
December to 741hc. These prices were
above CALL and selling against these
privileges and a natural desire to realize
profits caused several soft spots in the
market, but no reaction of note occurred
until late in the afternoon. September
in the meantime advanced to 7212c and
December to 74azc. At these prices the
demand let up to some extent, and under
q moderately heavy pressure to realize
a slow decline took place, September re-
acting to 72ls@7212c and December to
74A@74ssc. The close was steady at those
prices.
The cash situation was a leading fac
tor in the strength of the speculative
market. Nearly all the cash houses re-
ported better bids, and one firm report
ed $4,000 bushels sold direct to foreign
markets. The seaboard also reported an
excellent demand for export, though only
sixteen loads were worked for export
Minneapolis and Duluth receipts were It's
cars, against 1874 last week and AIS a
year ago. Chicago receipts We're 81 cars,
of contract grades Total primary re-
ceipts were 505,0O0 bu, compared
with $4,000 a year ago. The Northwest
predicted small receipts for some time.
Atlantic port clearances of wheat and
flour amounted to 100000 bu
Corn did not not display much activity.
but was firm throughout. The strength
of wheat had some influence, but the
large cash demand was the principal
factor. Spectators were also influenced
by the small receipts and moderate
country offerings. Receipts were 333
cars. Shorts were free buyers Of both
September and December Crop buIle-
tins ranged from Sic to 3t3s@311hc, and
closed A@2sc higher, at 313sc
Little was done in oats Elevator peo-
pie and receiving houses sold moderately.
but the cash demand was excellent. about
100000 blu being reported, and this and
the frmness Of wheat sustained prices
early The market, however, followed
the late break in wheat and closed bare
1y steady. Receipts were 800 cars. Shorts
bought September to some extent Sep
TENDER ranged from 1870 to 2Ohc. and
closed a shade higher, at 20c Deem
Der closed shade lower at 19Hs619&c.
Provisions were extremely dull. Hog
prices were lower, but there was q fair
Sutside demand for pork and ribs, which
resulted in advances in those products.
Most q the business was in the way of
changing. AT the close September pork
was 7}2Q10c higher, at $S.30Q8 321h; Sep
TENDER lard, unchanged, at $500; Septem-
Der ribs, $5121h
Estimates tomorrow: Wheat, 80; corn.
BS5; oats, 4SO; hogs, $4,000.
The leading futures ranged as follows: