Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-09-25
MARKET MELANGE,
REVIEW OF THE CHICAGO M4nKE1
OF YESTERDAY.
Especial Telegram to the Globe.

1
CHICAGO, Sept. 23.-Corn opened very
weak to-day. The effect of yester-
days break was of course demoralizing.
Cash and all options opened lower than
yesterdays close, and at the close cash on
month was &c lower than it closed at
o'clock yesterday, October 1sc lower, No
vember &c lower and year unchanged.
September opened ..at about AZ less than
| it closed at l o'clock yesterday, but Oc-
| tober and November were fully 1c lower.
September opened at about ! C less than it
closed at l o'clock yesterday, but October
and November were fully 1c lower. Sep
TENDER improved 1ac, and the other OPP
tions about 1c though the improvement
was attended with frequent chan
ges. 1t eased off again near
the close, and finished up quiet at the
changes from yesterday above noted. The
cause of the stay in the rapidity of the
fall is attributed to the damage done by
the recent frosts, and by flood of coun-
try orders which, happily for the bulls,
nearly all turned to buy. Sellers were
scarce and the bulls took advantage of
these facts. However after the close of
the board an irregular business was trans
acted at lower figures, and there is a very
weak feeling in the market tonight. Sep
TENDER ranged at 64@65 cents, and closed
regularly at medium. October touched
62I, but rallied, and after numerous fiuc-
tuations closed at 621sc. November was
active, opening at 601ac, at which figure
free trading was done. 1t afterwards raj
lied to some extent and closed at 61ssc.
On the curb where some little business was
done it, as predicted, touched 60 cents.
Year sold down to 522sc, but closed at SAC.
January sold at 1870, but recovered and
closed at 49%c.EMay ranged at 5024 @52c,,
closing at 514c.
tions in corn are producing
SMALL CROP OF SUICIDES.
The last heard from is John Halter, a
well-to-do German farmer living near
Chenoa, this state, who was found dead to-
day hanging to a rafter of his house. The
decline of the corn market broke his heart.
He held the crop for last year of his two
farms until this week and then sold.
It is noticeable that good deal of corn
is now coming in that was held all
through the summer months when the
article was worth 70 to so cents, with the
thought that it would go still higher. The
farmers many Of them calculated on no
crops this year, and prices out of sight.
They appear to have at last given this idea
up, and are willing to take what they can
get rather than run the risk of further
decline. Some suburban operators who
have trusted to their sharpness
in directing operations, through city bro
and are heavy losers. A well known grain
dealer at Plano, Ill., who went short at the
beginning of the first break, got squeezed
by the turn and his margins petered out.
He has failed for $4,000 to get even.
A moderate speculative business was
done in wheat. During most of the day
prices ruled lower than on yesterday, but
just before the close of the board Septem-
Der recovered and closed 1lc higher. The
longer options ruled a to 3sc lower than
yesterday, but in the rally recovered and
sold about 11sc higher. September sold at
$1O215@1. LOB and closed at $1.021a@1. 1925.
October sold down to $3.50, but closed at
9414c. November closed at 94Ac, and
year at 93@9a4c.
Darnbusch places the following estimate
on the worlds wheat supply: The British
crop, if reckoned up from the most diver
gent estimates, will be over 100000 and
under 100000 quarters. So to take
100000 bushels as the probable home
supply of wheat, cannot much mislead the
buyer. Such 100000 bushels will be Of
fered by the farmer upon terms that the
position of affairs abroad will impose.
Home produce must reasonably compete
with imported produce, and probably it
will be the English farmer and English
miller (who know best the English mar
ket's attractive force) by whom the future
rates of wheat will be most soundly fixed.
At present the farmer shows readiness in
selling his new wheat at about ass per 504
lbs. Is this quotation likely to be main
tanned, lowered or advanced? Beyond
home production an import of 100000
quarters may be admitted as necessary.
SURPLUS.
The various countries are believed to
have: America, 22,OOO,OO0; Russia, 7.OOO,-
600; India, 4,OOO,OOO; Central Europe.
3,0OO,O0O; Australia and Chilli, 10000
and to other countries may he assigned g.,
OOO,O00;a total of 100000 quarters out of
which the UnitedKingdom will want to take
14,OOO, 900, leaving 100000 for France,
Holland, Spain and Portugal, and other
countries whose MAXIMUM import of wheat
and -four, rarely exceeds 100000 quarters
each. Now if 100000 quarters be al
lowed for wants outside of England
and the quantity is liberal estimate
there should still remain 100000 quar-
tiers of wheat to replenish the stocks Of
the world.
Such 100000, if fairly distributed and
L. L. 4 ~f ~,