The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-07-18
WHEAT 4 BIT Stronger
DEMAND FROM THE NORTHWEST
GAVE THE MARKET STRENGTH
TOWARD CLOSE
SEPTEMBER GAINS AN EIGHTH
Opened Higher Because Liverpool
Showed a Small Decline in
Face of Drop In This
Country.
SEPTEMBER GAINS AN ETGHTE

CHICAGO, July 17.-From a break, oc-
c9sioned by liquidation in corn early.
Wheat today recovered on a demand from
IIhe NoIthWest and covering by shorts
closing firm, September &c over yester-
day. Corn broke because Of more ia
VOrable reports as a result of the recent
rams, but recovered some Of it, Septem-
per closing 1910 down. Oats closed Mc
lower, September pork SOC, September
5taro IzH2Ql5c, and September ribs 121bGD
15c depressed.
September wheat opened &c higher at
U42GH4sc, because Liverpool showed but
q small decline in the face Of the drop
mere yesterday and because receipts were
small Then the market lost its nerve
because corn was making such swift
preak for the bottom. September follow
ing the opening worked up to 7734c, and
then proceeded for the tall timber not
stopping. till September was selling at
7572c. The liquidation was heavy during
the slump and the demand scattered
having used up nearly an hour in ac-
comprising this, the speculative mind
became more composed and concluded to
buy some. Shorts covered to secure prof
market in an upward course. This move
was helped along by renewed buying
from the Northwest and a decrease In
the worlds visible supply Of 1921, 600 bu,
according to Bradstreet'e. September raj
He'd to 771ac and shortly afterward closed
with much Of the advance held, &c over
yesterday at WAQH3sc.
The rally was helped to a degree by the
partial recovery of corn. The foreign
news was bearish, France reporting a loss
of only 10 per. cent, while Roumania was
said to have the largest crop in her his
tory. There was break at Paris and at
Antwerp.
New York reported % loads taken for
export. Seaboard Clearances in wheat
and flour were equal to $4,000 blu. Re-
ceipts at primary points were 731,0OO bu.
compared with 1, 120, 900 bu last year. Min
neapolis and Duluth reported 203 cars,
against 104 cars last week, and TAP cars
9. year ago. Receipts here were 225 cars.
A cars of which graded contract South
west receipts We're heavy.
The gravity of the Chinese situation
and the, likelihood Of the grain-carrying
ocean steamers for transporting troops
excited some consideration.
The corn market made a hollow, empty
the bear drubbing given 1t yesterday, and
the exhibition lasted for only a moment
at the opening. Long corn from the four
corners Of the earth, to permit hyper
bole. was shoyeied into the Dit in i'm
mense quantities and inside of an hour the
market brought up over &c under yeSter-
was to be found in reports of excellent
cron prospects as result of recent heavy
rains.
Tne price got well within a sh'y,,,:na;
people, together with the usual purchas-
ing by shorts for profits, caused reac-
ton and part of the loss was regained,
giving the close an appearance of firm
ness compared with conditions earlier in
the season. September sold between $3.50
and 41llc. and closed 1870 under yesterday
at S91kQ399sC. Receipts were 1027 cars.
Trade in oats was not heavy, but that
market showed a deal Of inherent
strength when the other grains were
dropping. The rains in the South
west We're a positive injury to the oats
in the shock, and reports from the North
west were in nowise improved. Hence
the steadiness. Receipts were 274 cars.
September sold between 2411sc and 23Ac,
and closed &c down at 29%c.
Provisions early in the session were
very weak, but part of the loss was re-
covered. Hogs were easy at the yards
and the corn break was a decidedly bear
ish factor. One heavy Spectator let out
long line and another sold short, this
stuff forming the bulk Of the offerings.
The recovery, such as it was, was on
buying by packers. September pork sold
between $12.15 and s11.4O, and closed SOC
under yesterday at $11.70. September lard
between $6;725k and $655, closing 121aQ15c
down at Sc. 65Q6.6715, and September ribs
between $6.75 and $685.. with the close 1215
415s down at $6.6506.67la.
Estimates tomorrow: Wheat, 65 cars:
corn, $50 cars; oats, 100 cars; hogs, 50 C00.
The leading futures ranged follows: