Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-09-24
MARKET MELANGE.
REVIEW OF THE CHICAGO M4HKET
OF yesterday.
A 0uieter Feeling in Corn and Provisions
The Causes Contributing to Steatlier
Prices--Reyiew of the Provision Deal Du-
ring the Week.
Especial Telegram to the Globe

o'clock yesterday, October &c lower, No
vember &c lower and year unchanged.
September opened ..at about &c 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 o'clock yesterday, but October
and November were fully 1c lower Sep
TENDER improved 10, 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 very
weak feeling in the market tonight. Sep
TENDER ranged at 64@65 cents, and closed
regularly at a medium. October touched
62I, but rallied, and after numerous iuc-
tuations closed at 621ac. November was
active, opening at 6O1sc, at which figure
free trading was done. 1t afterwards raj
lied to some extent and closed at 6138c.
On the curb where some little business was
done it, as predicted, touched 60 cents.
Year sold down to So sc, but closed at SIC.
January sold at 4S115c, but recovered and
closed at 40 sc.sMay ranged at 5024 q 52c,,
closing at 51Ic.
The losses incident to the great huctua-
lions 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 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.
1t is noticeable that a good deal of corn
is now coming in that was held all
through the summer months when the
article was worth 20 to 80 cents, with the
thought that it would go still higher. The
farmers many Of them-calculated Oh 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 a further
decline. Some suburban operators who
have trusted to their sharpness
in directing operations, through city bro
kers, have not been quick enough lately,
and are heavy losers. 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.
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 &c higher. The
longer options ruled d to 25c lower than
yesterday, but in the rally recovered and
sold about &c higher. September sold at
$1.O21a a LOB and closed at $40 q 1.0258.
October sold down to $500, but closed at
| 94l4c. November closed at 9431c, and
year at 93@934c.
| 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
buSer. 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 45s per 5O4
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, 100000; Russia, 7.OOO.-
600; India, 100000; Central Europe
3,000,0O0; Australia and Chill, 100000
| and to other countries may be assigned g.
OOO,OOO;a total of 100000 quarters out of
which the UnitedKingdom will want to take
100000, leaving 26,OOO,OO0 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 a liberal estimate
there should still remain 100000 quar-
tiers of wheat to replenish the stocks of
the world.
Such 100000. if fairly distributed and
lodged in the mills and granaries of Eu-
rope, need not create fullness in a single
market. Ten millions as an extra reserve
over and above present stocks might sit
lightly enough in our farms and as stores
in private hands, but when such ten mil
lions are not distributed, but are kept in
bulk by the chief holders of America. India.
and Russia, the wheat trade remains ex
posed to the imminent danger of such
heavy surplus being pressed on the mar
ket.
THE FLOUR MARKET
was quiet and unchanged, shippers and
iObherS huyinp IN limited oyfapt