The Saint Paul globe., 1901-08-24
DROP OF l 1-4c PER BUsHEL
September Whent and Oats Show IA
loss of Sic, and Provisions
Are Down From
shade to DC.
Closing.
Ii EINL.rrrc

CHICAGO, Aug. 23-Corn was heavily
sold today and led a decline Of other
grains Wheat closed #c, corn FAC ana
oats &c lower for September delivery.
Provisions closed shade lower to &c
lower.
Trade in wheat lacked even a suspicion
of animation The market opened easy
on disappointing cables. September 3444sc
down at 701zc; selling fer the outside ac-
count influenced a small selling move
ment by the bear contingent. When
some of them attempted TO cover little
later the market suddenly ran UP to 70$4c.
This proved the best price OF the Gay,
and there was scarcely a moment during
the remainder of the session when the
early short sellers could not have covered
at a profit
The magnitude of seaboard cIearances
and reports Of good buying in the cash
market put something of a check on the
bears for a time, but did not materially
affect prices and by noon most Of the
pit traders, influenced by the outside
liquication and the corn weakness
mainly the latter-joined the ranks of
sellers and in consequence September
worked down to roc. The close was
weak, &c under yesterday at 70GD70lBc
seaiooard clearanceS were 1.2H, 030 bu.
Primary receipts aggregated 1,021, ,0C0 bu
almost exactly the equivalent of Last
year. Local recetPts were 146 cars, II
contract, Minneapolis and Duluth report
ed 566 cars making a total for the three
points OF il2 cars, against 442 last week
and 7I2 a year ago. Argentine ship
mentS We're $4,000 bu, compared with
SOS,C0j the corresponding week last year
Corn gave an exhibition of its de-
pendence upon speculative support and
showed how insufficient an undoubtedly
strong situation could be when specuia-
tors relax their efforts. to boost the
prices. The feature of the days trade
was the large quantity for sale on out
Size orders. This was supposedly the
response OF the country districts to the
ma lrri rirae- -.
alter the decline began a. few days ago
Heavy Argentine shipments coming on
top OF report that the exportable sur
plus OF that country was about exhaust
ed, was an additional factor in We9 KEN
ing the market. The liquidating was
em2raced by the bears to take profitable
fiag ag downward with prices, and al
thoGgh there was considerable profit
taking around the bottom. the selling
pressure continued the stronger and the
close was weak. September sold be-
tween 76A3 a64sc and 549sc and closed IAc
lower at 55055lsc. Local receipts were
2I9 cars. Argentine shipments aggrc-
year ago.
oats naturally turned weak with corn.
1lquuauon was both from the country
ana the local account and there were
rumors that big local line had been
started Tor other hands. A more severe
by d packing house. September sold
ptLNeen 3ac and SAC and closed 31c down
dt 5t1Ac RECEIPTS We're PA cars
Trade in provisions was moderately ar
i've. Prices at the opening were irrer
ular and slight decline followed in
sympathy with wheat. During this time
considerable lard was sold I1oIIovine
TINS better cash demand was had and
good quantities were bought by packers
prices recovered and the close was firm
january pork closed 5IC7Ihc h;eber az
Sl5.5oal5.5212; January lard a shade Low,
er at $3.50 ana January ribs PIC higher
al at N,5-i2. Estimated receipts tomorrow
" " t heat l69 cars; corn, 275; oats, 225: hos
The leading futures ranged as follows.