The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-08-12
FAVORABLE GOVERNMENT CRoF
REPORT CAUSED A DECLINE
IN ALL CEREALS
SEPTEMBER WHEAT DROPPED
Liquidation in Corn Heavy From the
Start, Steadyfng Some at Close
Oats Showed Weakness-PrO-
visions Ruled Lower.

CHICAGO ILL.,. Aug. n-Grain markets
followed the lead of corn today. That
market was given solar plexus blow
by the government crop report, which
was much more favorable than expected,
and closed at a decline of 1&c, wheat &c
chiefly through sympathy, ard oats de-
clined &c. Provisions closed 5Ql2l2c lower
Sentiment among wheat traders at lne
opening of the market was not very pro-
nounced either way, and the opn1ng was
rather tame at 76Q7612c for September,
yesterdays closing price being 76c. There
was perhaps some disappointment over
the government crop report which was
not so bulliSh as expected, but this was
offset by the continued hot weather and
showers in the Northwest, conditions re-
garded as exit emely unfavorable, but
another factor made itself felt soon after
the opening-a sudden decline in corn.
A drop of 15sc was recorded in that
market at one time and the effect of
such weakness on a market naturally
father heavy, was Immediate Selling
was quite heavy at one time, principally
by traders who had bought wheat heavily
yesterday, principally on the belief that
the government report would show
heavy falling off, and even after this Ii
quotation ceased, the market showed but
little signs of recovery. The September
rise was hammered down to 751sc before
the selling pressure was removed. There
was noticeable country selling at times,
and stop orders were received by some
commission houses. The close was heavy
at 7512c.
Northwestern receipts were 2S1 cars,
against 227 last week. and 22S year
ago. Chicago receipts 234 cars, "a con-
tratc. Primary receipts were 1,027 0c0,
compared with $4,000 a year ago. This
fact undoubtedly influenced some selling
Corn was feverish and radically weak
The government report was painful sur
prise to longs, who had been led to
expect much more bullish official figures
by the complaint of the damages which
have been received of late, and liquida-
ton was heavy from the start There
was q. general spilling out of corn, with
some selling by local bull leaders and
prices declined very rapidly. The Sep
TENDER price finally broke to 377ac but
the demand improved and towards the
close the market became steadter Coun-
try offerings were small. September
ranged from 317sc to 39Ac, and closed
nc lower at 3Sc
Oats We're dull for the most part and
showed weakness throughout, the market
being influenced almost entirely by the
weakness in corn. Business was largely
local and Of no especial Importance Ele-
vator people were the best sellers Sep
TENDER ranged from 2%@22ssc, and
closed &c lower, at 2134c.
Provisions We're heavily Influenced by
the grain markets and by the weakness
Of hogs. There was very little specula-
tive interest shown, moderate liquidation
being led by the packers. Prices ruled
lower from the start. At the close: Sep
TENDER pork 121ac lower, 81. go; lard &c
lower, $6.6712; ribs TIC lower sos.
Estimates Monday: Wheat, 29O: corn.
1870; oats, $50; hogs, 10000.
The leading futures ranged as follows.