The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-01-07
ALL FUTURES BROKE

CHICAGO. Jan. 6.-Absence of fresh buying
orders today in the face of heavy liquidation
caused break of considerable dimensions
in wheat c2rn and provisions Oats ruled
firm and closed unchanged. May wheat lost
AQ&c; ccrn, sc; podk, see; lard, i212c, aid
ribs 5Q71ac eIch.
Reports OF damage to the Argentine crop
and unexpected strength at Liverpool III the
face of a 9ac decline mere yesterday, started
wheat strong. May opened ssGl2c higher, at
7ls@1I4c, ard carl sh3d been sod very
freely arYund 1lAc sellers Of those privileges
took fright, and IN the eudeavor To procure
wheat they eX. ected to need Tor delivery on
calls May was bid up TO 1ll2c. TrSderS who
had hot sod calls were largely in the ma
iority, however. and came into the pit with
more wheat than the shor,s could absorb.
Under this ardent selling the opening
strength quickly eyapcreted and the price OF
May dropped back to 7035c. Chicago received
100 ears, OF who SIX graded contract Re
ceipts in the Northwest were i42 cars, against
42S l;s week and 1888 a year ago The sea
board elearancts We're liberal, $4,000 bu. but
not heavy enough TO impart bullishneSs to the
market. Liverpool was I'D higher. and Nsw
York reported hlty beat loads sod ior eX-
p.rt. lAe news and conditions Of d buliish
IGture had Eitie iniuence, however, and the
only matters TO impress the crowd was prob-
abilities of Argentine ard Russian shipments
on liberal scale in the near future.
There was a dearth CT outside trade and
about the only support the market got Oil lis
q onward course came fiom holders CT put
HAlNll, SeS- May nau one or TWO Sckly ra lies
from ,Gi2c. and then took another plunge to
&c below its previous lowest point. selling at
bs'4WoS7sc. The market became very heavy
as the session advanced. but toward the close
S0me covering by shorts caused a slight
action. ana May closed at 70d701sc.
Corn started out strong with wheat, and
traders fer time bought freely 10 cover
sh-rt sales. May orened sc higher at $40
31lsc. and WIS bid UP to 37t.c. When wheat
began to slump the crowd began to sell short
and May soon slid OF to 36l2c, closing at 361a
G369sc. buyers. The trade lacked individ-
ualitY and WAS entirely OF local chGrac. er.
Receipts were Col caIs.
Oats were Influenced TO quite an extent by
the weakness in wheat and corn. but were in
dependent enough 10 be the frmest OF the
three. The elevator interests sold freely,
yet the market absorbed all the offerings ard
remained firm. Receipts. 119 cars. May
opened 1sd4c higher, st 27A G2Tssc; rose TO
2issd27l2e. then declined to PC and closed at
27q271sc.
The posr quality of hogs received at the
yards was responsible for a strong feeling in
provisions early. Liquidation fer outside ac-
count, with the weakness in grains, more
than the market could stand and prices de-
cltEed sharply. May pork opened at 5G7I2c
higher. ar Sl0.S5G10.37l2; advanced u $10.421a
then dropped off to $40. buyers, the closing
price. May lard started 2l5G5c higher at
S5.N12d5-SO, sold at $3.50 then declined to
s5.62l2 at the close. May ibis began 21ac up,
at $5.07l2; rose to S5.12ie sold down TO 81 97Ia
and closed at s. 97l5d5.
Estimated receipts for Saturday: Wheat
so cars; corn, $50; oats 205; hogs, q coo head
inc leading futures ranged as follows:
Open-l HIGH Low Clos