The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-01-11
WHEAT CLOSED Low ER
Previous

CHICAGO, Jan. 10.-A light speculative DE-
mand today ard bsarish news both domestic
and foreign caused a decline in wheat May
closed Sc lower. Corn lost l4c and cats lett
OF a shade lower. Pork and ribs advanced
sc each and lard gained 214c.
Weakness and lower quotations at Liver,
pool, no,wiphs .anding tie tirmness d.splaySd
here yesterday started wheat trihe lower
There were a few buying orders at the START,
however, and as th=re was very ntile wheat
for sale. May which opened ls@Ac lower
"a 70Ss6I703lc climbed slowly and .aDorlouSiy
to 7llSc. When the initial bnyiEg o.ders were
out CT the way prices began TO weaken and
May sank irregularly but detsrmineciy 10
70iaq 10Asc.
Heavy arrivals was given as the cause OF
a decline of %Gl.d al Liverpool Chicago re-
ooived 14l ears. eight OF VIII ch were con-
tract. Receipts in the Northwest amounted 10
4S0 ear.cads compared with S37 for the cor
responding day year age. Primary west
ern market receipts were $4,000 bu, against
395. COO last year. Bradstre =tss reported l2l.-
coo bu increase in the wards stocks of wheat,
compared with $4,000 bu increase the same
week CT the previous year. Seaboard clear
apceS OF wheat and -four were smaller tnan
their recent average. amounting in whsat and
-four 10 4ltOD bu. Speculative actlNrty from
the outside conspicuouSly absent, and
even the local crowd seemed to be unwilling
TO guess tee next vagary OF market swayeu
siternGtiyoly by a dull Shipping demand and
certain possibilities connected with European
dependence upon this country for supplies.
Russian stocks OF wheat were reported at
1894 Coo hu. against IA 800, 600 Dec. l, and
16 GS0,CG9 a year ago. Mere favorable wealth
er was reported from Argentine and the
crop situation there was said to have been
greatly improved with prospects of a large
export from that country. The market was
depressed by the average bearishness OF the
Information, ard May declined to 702sG70iac,
and closed at 701sc.
A poor cash demand. ard large accumu-
laticn OF stocks weakened corn. There was
q half bearish attempt early to bull the
market. but offerings were plentiful and buy
erS were very readily accommodated. Puts
yesterday We're close to the market, and they
te.ded TO prevent any important break Re-
Ct .pts were large, 575 cars. May opened AZ
sc lower. al 36%@367sc. advanced to S71sc.
sold off to 3694 qS67sc, and closed at 367sc.
With no selling pressure and scattered
outside demand for July oats ruled firm.
The range was still ard prices just about
held their own. Msy began sc down. at 2Issc
scld sparingly at 27AG272sc rallied to 274sc
and closed az 273sQ2714c buyers.
An improved export demand for meats and
higher prices for hogs strengthened provis-
ions. Repurchasing by commission houses
that were recent sellers was also an influence
The early advance was modified somewhat by
the heaviness of grains. but some Of the days
gain was sill adhering to the market at the
close CT the season. May pork opened 5@71ac
higher, at S10G10.05, slid at S10.05Q10.07iA
weakened TO $9.97I4, then improved to S10G
1002i5 at the close. The range in lard and
ribs was narrow.
Estimated receipts Wednesday: Wheat, 160
cars; corn, $50; oats, $50; hogs, 10000.
The leading futures ranged as follows:
Open High Low Clos