The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-01-29
SETBACK FOR WHEAT

CHICAGO. Jan. 2S.-Heavy realizing sales
toCay caused setback in the price of whaat.
AFTER an advance of Zee early in the session,
May lett on at decline OF sc. Compared
win last Saturdays closing prices, final fig
9ies today showed csc advance Corn
dropped 7s@a4c, but was still as@1ac higher
tnan week ago. Oats declined 1s@Ac. Pro
visions looked strong at one time, but closed
without notable change.
Wheat opened without excitement lac to &c
higher, at 1S1s@7S3sc but after little back
ing and filing at Starting figures, it began to
yield little to selling by local spectators.
The latter were induced to take the course
they did owing to the absence of any heavy
Duylng orders from outside and the indif-
terence that Liverpool traders appeared to
nave Tor the strength prevailing on this side,
quotations from there showing a decline of
1s@Ac. About this time corn began to show
! such decided strength that the buying spirit
of wheat traders was revived and the Nav
option which had sagged to 77s4c recovered to
Isle. Worlds shipments for the week were
estimated at 500 eco, of which 4,99S,OO0 blu
came from United States ports. Receipts here
were " cars, of which IA graded contract.
Minneapolis and Duluth got 4S2 carloads, as
compared with 800 for the corresponding day
a year ago The primary Western market
receipts were double those of last year
amounting to 673.0Q0 bu The seaboard clear
ances of wheat and flour for the day amount
ed to 746 600 bu. Continental markets were
weak Paris reported heavy break in -four
ana from 10 to 10 confines in wheat and Ant
werp cables were 121a centimes lower. Dur
ing the latter part of the session longs lidui-
the selling increased in volume becoming
very large near the close. May had been
gradually declining. but when it got down to
7IAc a lot Of stop-loss orders were encoun-
tered, which caused good deal of enforced
realizing. and for a few minutes it looked
as if the bottom had dropped out of the mar
ket May slipping off to 76s4c. That was a
break Of 1850 from the top price Of the day
and the bears apparently satisfied with what
had already been accomplished did not dis
pute the rally that set in on buying to even
up over Sunday. In the last five minutes
May rose to 77$se buyers where it closed.
Corn was active and very nervous with
price fluctuations quick and sharp. The mar
ket opened firm, but yielded quickly on ac-
count OF local selling. Wall street was buy
ing heavily and the price recovered in a
lively fashion to point within a small frac-
ton CT the highest figure it had previously
sold at this season, but was once more tram
pied down by local selling. May started &c
higher, at 39Sa@39Ae; touched 3S7sc and from
that rose to 3915c. There was where the local
talent commenced feeding long corn to buy
ers from outside and soon had them filled up,
with still more long corn to dispose of. May
dropped gradually to 5S3sG3Shc. and closed
there.
Oats were treated to heavy selling, while
the market shared in the general nervousness
which attended the trade in the other grains
and prices eventually settled upon a down.
wa;d course. Receipts were $50 cars May
began 1sc higher, at 2S7sc, declined to 2S12c,
Provisions were firm, with the volume Of
speculation large. Packers did considerable
selling at the start but the offerings were
soon put out of the way by commission house
buying and an advance set in all around.
Toward the end when the grain markets de-
veloped decided weakre SIS, the improvement
at s1O7o@lO.721a; rose to 500, then declined
TO 5000, the closing price. The range in
lard ard ribs was small.
Estimated receipts for Monday: wheat 10
cars; corn, 100 cars; oars. 80 cars; hogs, 40, :
0G0 head.
The leading futures ranged as follows: