The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-01-04
WHEAT PRICE FALLS

CHICAGO. Jan. 3.-Ihe new year on
Change commenced with 4 lot of proft-taA-
ing by bulls. Declines in ali the grain ard
provision markets resulted Wheat lost lise,
corn, 7s@1c: cats. 12@&c, ard provisions,
bQ10c.
Wheat at the opening and for few ma
ments following showed comparative hrmnsss,
though ret 50 much as lad been expected
from the strong curb markets preyaillng sincs
Friday. Opening unchanged, at IlA@I&c d
very moderate buying demand most Oh
which came from the outside, sufhced 10 aa-
vance tie price 10 121sc. That was the turn
ing point. Liverpool was only hd nlgher
Northwest receipts fer the hoEcay interval
were $50 cars. small compared with LOG last
week but large enough TO attract attention.
Chicago rsceips were lSS cars. ten OF con-
tract grade Paris reported % centlmes
lower Argentine crop reports Wee favor
able. although the advices were to the erect
the harvest would be late. There was moth
ing oppressively bearish In the news, but
stcrtly after the opening, it became evident
that most CT the heavy bull traders were
convinced that a reaction was due, and TIA
the ruling prices Justified p'oht,taS!hs.
There also the selling Of wheat by that
class OF spectators who invariably put out
short lines after Jan. l.
Bull news was plentiful later in the ses-
SION. but in the meantime the selling move
ment had become general, professional snorc
sellers adding not little to the weakness
the market developed by pounding IT vigor-
ously Before noon, a very material decline
had taken place May declined to IKE, re-
covered to 71%@71i9c.. under the usual cover
ing by scalping orts, then declined steaoliy
to 7C3sc, reaching that price shortly after
noon. Weakness that developed in corn was
given a good deal of attention BY wheat
traders. ard affected prices more or less.
Expectations in rega TO the visible decrease
were realized the final figures showing de
crease of COO bu. This rather steadis ID
the market after the decline ana resulted ii
slight improvement in prices during tie last
half hours trading. Ciearances from Allan
tic por,s fo- two DAYS were 376 900 bu. May
rallied TO 709s470&c, and closed at that
price.
Corn was active and weak. The feature
was-the closing out of a large line of long
corn showing good profits. which coming
in On market naturally a little wobbiy,
caused sharp break in prices. Cables were
weak and lower and receips large with TO-
mofrows estimate still heavier Export
sales and cash demand here were both small.
May ranged from 81 to 371s@S7Ac, and closed
sole lower at 371sG27iAc.
The market for oats reflected corn in every
particular there was heavy liquidation by
the same parties who were selling corn and
the market was weak from the start Re
cepts also a depressing factor There
was some improvement in tone late In the
session, part OF the decline being recovered.
May ranged from 27s42lAc to 2SAc, and
closed 5sG24c lower, at 271ac.
Provisions until late in the day showed a
good deal cf irmness. There was very good
outside demand for pork, and lard, and those
products especially showed strength. Selling by
packers, however, was heavy and longs re
allied on some large lines. TIE market
finally broke in sympathy with wheat and
corn. but towards the close support again
developed and part of the decline was re-
1Oc lower. al $10.471A; May lard, &C lower, at
$5.S5, ard May ribs, TIC lower. at S615
Estimated receipts Wednesday: Wheat, 210
cars: corn, LOIS; oats. 3I5; hogs, 10000 head.
The leading futures ranged as follows
Open High Low Clos
ing est. est. ing.