The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-08-20
WHEAT WAS DOWN AGAIN
LIVERPOOL DECLINE, CONSTANT
LIQUIDATION AND LACK OF IN
TEREST CAUSED WEAKNESS
RECEIPTS ARE VERY HEAVY
Recent Advance in Corn Caused
StOppnge of Demand and COnse-
quent DecIlne-PrOVfsiOns
Showed Strength.
RECEIPTS ARE VERY HEAVY

CHICAGO, Aug. ia decline at Liver
pool, lack of outside interest and scat
tered liquidation caused further recess
sion in the price of wheat today. Septem-
Der closing $G0Ac under yesterday. Corn
closed sc lower and oats &c reduced.
Provisions closed firm, September pork
15c, lard 21aq5c, and ribs 1I1992Oc improV-
ed.
At no time during the day were there
any number of traders who believed that
wheat was going to recover, following
the recent steady slump. Trade was dull
to a disheartening degree. Liverpool
closed $4ci eAd lower; there was amos 40
outside business, receipts at Western
markets We're again very heavy and the
shipping demand slack. Scattered hqui-
dation, including selling on stop-loss or
derS, was the order Of the day. For
some time the only buying was by scalp
ing shorts, who covered to secure profits.
September opened 7saAc lower at 72B
@72ac, and after few weary efforts to
hold Its head up subsidized at 716ac 1t
was under re that most of the covering
by scalpers was done. This resulted in
q recovery to 721sc, at which the market
previous close. New York reported Is
loads taken for export and loads were
sold here. Seaboard clearances in wheat
and flour We're equal TO 115,006 bu. At
primary Western markets receipts aggre-
- gated 1,040,000 bu, compared with 537 000,-
600 bu the corresponding day last year
Minneapolis and Duluth reported 289 cars,
against 2S1 cars last week, and 232 cars a
year ago. Local receipts were AT cars,
DO of contract grade.
Corn felt the wheat weakness, and the
stOppage of the shipping demand, caused
by the recent advance in prices for this
and the next months delivery. Septem-
Der, offered at the close yesterday at
S9Bc, was offered at the opening today
at $3.50 to 3S5s03S$4e. A few minutes lat
er the market touched 3S75c, but drop to
8S14c followed on selling by an inf1uen-
tial trader, who was supposed to be hedg-
ing against country acceptances, other
people, however, reported the country Of
ferings light. The market closed easy,
September &c lower at 3S1Ac. The reac-
ton from the bottom was on a prospect
OF the decline brining out fresh shipping
business Receipts here were 100 cars.
Gas were very quiet, but comparatively
steady. Receivers sold against fresh
country acceptances, but later there was
a fair amount of buying by outsiders.
The trade generally, however. was local
4n character and devoid of Independent
features. September sold between 21&c
and 215sc, closing 1sc down at 219s@2l&c.
Receipts were 264 cars.
Provisions We're not active. but the
market showed an undertone Of firmness,
the greater part of the session Local
buying, especially Of short ribs, and the
sellin7 -uf ..lnuary delivery were the fea-
lures. AT the close: September pork was
15c over yesterday at $11.15; lard, PHASE
higher $685., and September ribs l71bc
to zoe higher at S02h@L05.
Estimates Monday: Wheat, 500 cars;
corn, 80 cars; oats, 260 cars; hogs, 80, 600
head.
me leading futures ranged as follows: