The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-08-09

CHICAGO, Aug, S-The weak cash sit
uation and a sharp drop in foreign mar
kets pushed wheat to a new low level
today, September closing weak at sc de-
cline from yesterday. Corn was steadied
by good shipping inquiry and closed
slightly higher. Oats closed irregular,
shade lower to &c higher. Provisions
declined sharply, closing 71zQ12hc lower.
Opening prices for September wheat
showed a decline of 1s0Ac from yester
day, September starting at 63%Q63hc.
That proved to be the high point of the
day. Interest in the market, which has
just been slack for several days, was, If
possible, even duller than yesterday, and
the market for the greater part of the
session kept within O range of &c. The
weakness at the start was due to de-
cline at Liverpool of &c since Friday.
This was double the decline in the local
market since that day, and, coupled with
the continued absence of foreign inquiry
for American wheat, kept prices on the
down grade during the most of the day
1t was apparently the prevailing opinion
that 1t was a hopeless task to attempt to
bull the market while there is so little
demand for wheat abroad, and while
little buying was done, 1t was against
puts, to which price (6S31@6S5sc) the mar
ket declined shortly after the opening
There was scattered selling by the North
west and by local commission houses, but
outside interest was slack. September
longs were inclined to transfer their
deals from that month to December, and
buying of the latter against sales of Sep
TENDER had a tendency to widen the
spread between those months, to the ad-
vantage of the carriers
BroomhalIs figures of the European
visible was a feature of the morning S
trading. Bradstreets figures, however,
showed a decrease of 1,267, 000 and for a
time this steadied the market, causing a
rally in September to about 6S5sQ6S4c,
but no substantial support was forthcom-
ing, and prices soon sagged. New York
reported export sales of 10 boat loads.
Not a bushel was placed from here.
Northwest receipts were 1879 cars, against
296 last week and So a year ago. Chicago
receipts were 116 cars, II of contract
grade Atlantic port clearances amount
ed to $4,000. A slightly better feeling de-
veloped near the close, shorts being fair
buyers at the bottom, and the market
rallied slightly, closing a 6S1z@6S5sc.
Corn was fully as dull as wheat but
much steadier. The market was weak at
the start, partly In sympathy with wheat
and on the favorable crop conditions, but
the strong cash demand sustained
prices. There was vigorous selling of
September at times, and the more distant
futures showed the most strength Re
ceipts were liberal 563 cars. but indica-
tions were for a lighter movement, as
acceptances have been light for some
time September ranged from 3O1hc to
40a4@3076c, and closed a shade higher, at
bose.
Oats were dull and irregular The
feature of trading was the demand for
May, which was sharp enough to result
in an &c advance in that option. The
Fash demand was excellent, Is, 600 bu be-
ing worked here. Receipts were large
538 cars. September showed some sym
pathetic weakness with wheat. 1t ranged
from 193s@191ac to 1880, and closed a
shade lower at 1911@195sc.
Provisions were heavy throughout the
session. Packers were free sellers, ap-
parently on the belief in freer hog
movement, and substantial support was
lacking. The market tended steadily
downward and was decidedly weak at the
close. At the close September pork was
PIC lower, at $685.; September lard, 10c
lower, at $5.2713, and September ribs, TIC
lower, a. $5021A
Estimates for tomorrow: Wheat 81;
corn, 800; oats, 2G0; hogs, rs, 900.
The leading futures ranged as follows:
Open-lHigh-I Low Clos
ing. est. est. ing.