The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-06-10

CHICAGO, June 9.-Fear of a bearish
government crop report was again a mill
stone around the necks of wheat specula-
tors today. This and estimates OF enor-
nous winter and spring wheat yield CHIP
ped PC off July and Aq2sc off September
wheat during an exceedingly dull session.
Corn and oats were also very dull, ana
declined about sc each. Provisions closed
25zQl0c lower
For a brief period Immediately follow
ing the opening, wheat showed some de-
gree of steadiness. This was due to the
Kansas crop report making zo,oVV,oVo
bushels the maximum possibility OF that
states yield, and to the continued Rus
san damage reports. But the steadiness
was not of long endurance. Opening UNI
changed at 747s@75c, July, after a few
transactions at those figures, slowly SID
eff. There were slight reactions at times
caused by covering by shorts, but the
tendency in the main was steadily down
ward, and before the noon hour the price
had touched 741sc. The Northwest was
free seller during the decline.
Besides the natural feeling or oearlSh-
ness caused by the government crop re-
port due tomorrow, the market was much
depressed by Shows crop report, winch
said that $50 GOO bushels was conserVa-
tive estimate of the probable yield OF
winter and spring wheat this year. These
figures was far over the average pro-
duction for several years past, and made
the market very susceptible TO any SELL
ing pressure.
Liberal Northwest and local receipts
were a factor. Minneapolis and Duluth
reported IS cars, compared with 5S5 last
week, and POI year ago. Chicago re-
ceipts were sc cars, three of contract
quality Estimates on the visible supply
were for an increase of about 1,5COO GU
rad xr-ith q daRrQl
year of 100000 bushels. This also had its
effect Argentine shipments were 1,O26,O0O
bushels, against 264. 600 last year. The
seaboard claimed as high as 20 loads taken
for export.
During the afternoon there was some
Improvement in the tone of the market.
Liquidation was stopped somewhat by a
number of complaints from Indian ter
rltory Kansas and Nebraska, of too
much rain, and the market received sub
stantial support, the first In some time,
when private cables were received from
q prominent Chicago grain dealer, now In
Russia, confirming the worst reports as
to the condition of the crops Of Southern
Russia and Roumania. Previous to this
time the market had declined to 1870,
but during the last half hours trading
a recovery to 74$s@7614 took place. That
was the price at the close.
Corn was dull and a little lower
throughout Commission houses were
moderate sellers and buying was scat
tered. Complaints of too much rain In the
corn belt had a steadying influence on
prices. The cash demand was rather poor.
Receipts, 561 cars. July ranged from 1850
to 'S3%@s4c, and closed &c lower, at $3.50.
Oats were dull and a shade lower. Crop
reports were somewhat bullish, but sym
pathy with wheat was shown in the class
of selling. There was little demand for
cash oats. Receipts were ZIG cars. July
ranged from 231s@23l4c to 23-Q231sc, and
closed 1s@14c lower, at 231Ac.
Provisions were practically at stand
still during most of the session. There
was some commission house selling of
pork, and the decline that followed was
shared in a degree by other products
Packers also. sold moderately. Buying
was scattered. At the close July pork
was 1Qc lower. at $S071a; July lard &c
lower, at $4.971A, and July ribs 2k@5c
lower at S46211.
Estimated receipts Saturday: Wheat,
IS cars; corn, 525 cars; oats, $50 cars; hogs,
$4,000 head
The leading futures ranged as follows: