Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-09-17
Review Of Yesterdays Markets In Chi.
cage.
CORN AND WHEAT IMPROVED in PRICE.
Pork Steady and Liable 10 Increase III
yaIne at an Early Bay.
AN ALARNG SHORT CROP COMING In
The Consumption Greater Than the Sap.
ply-High Prices Certain.
Especial Telegram to the Globe.


CHICAGO, Sept. 16.-The markets OH
change were steadier, and most articles
higher. Wheat was quoted quiet and slow
in Liverpool, and the receipts were larger.
but the shipments heavier than for any pre-
vious day this month. The de-
mand, however, was moderate, and
trading light. orders from the outside be-
ing small and brokers cautious. The sales
were reduced to a minimum and the aver
age fluctuations confined to very narrow
range, closing quiet at about the highest
prices. Coru opened firm. the shipments
were large, the recsipts moderate, and
under active demand to cover short sales
prices advanced ~ q &c. on the nsar op
tions. and was active closing at nearly the
highest prices of the season. At this close
cash No. 2 was about &c. higher than it
closed at II o'clock yesterday. October
about q &c. higher, November about 1ssc.
higher, and year about 1c. higher The
market opened at trifing advance over
he closing figures at 1 o'clock yesterday,
but under brisk demand prices Quickly
took the up turn and sold with little
reaction q 1c. over the opening Or Sep
TENDER, 13c on October, aud a C. cn No
vember, then weakened and fell off
some, was again buoyant, and closed
at the changes from yesterday above noted.
The inquiry was chiefly from the shorts.
Those who had profit began to buy early
in the day, and excited the market some,
when those who had sold the bottom be-
came alarmed at The upward movsment
and began to cover
The large line of shorts did not dare risk
carrying their deals over Sunday fearing
an unfavorable change in the weather. In
| case of storm with cald weather and indi
cations of frost should occur befo&e Mon
day the price will be doomed up fairly out of
reach, but if the present perfect weather
should continue corn. will open one cent
| lower OH Monday, and no doubt decline to
! 60 cents for October, which is now the
! favorite option. Old corn is coming in,
| but no new crops expected before Nov. 1st
and not in liberal supply until December.
+ Spring wheat was qeiet and steady.
Cash No. . sold at $3.50. and closed at
9S15c
September was quiet and year sold
sparingly at 81. Regular No. , wheat was
quiet and weak early, but later improved
some and at the close of September was
about the same as it closed at eleven
O'Clock yesterday.
October was a &c higher, November like
wise lc higher. There was very little dis
position to trade early in the session, and
prices eased off some, but afterwards be
came more active and frmer, influenced
by the stronger feeling in corn, subse
quently eased off, but closed steady.
! In hog products a glance at the daily
} dispatches shows that we are sending GU
a great deal more. product than we art
: producing and receiving, and a
stocks are undeniably small
in the aggregate throughout the country
and the consumptive demand large, tn
stocks are being drawn down at rapi'
step into the new packing season wit
practically empty warehouses. It is tru
the stock of mess pork is large, but on &C
. count of the scarcity of meats, it is bein
consumed in much greater ratio tha
usual, and stocks of lard are being draw
:, against rapidly on account of an activ
consumption. Meats are so scarce that
large amount of pork is being converte
:. into bacon and sent out as pork strips.
: fact, buyers are free to admit ths
they cannot fill their orders for meat
i even though they offered liberal premium
O over September options, and it is a fat
a that for two weeks past short ribs for spt
delivery have uniformly sold at a stron
n &c per pound over the prices current f6
e the September option. In the matter
the hog supply we find that the receipts
7, all points in the west are much smaller tina
= last year, the packing in the west to da
a being 100000 hogsheads short Of the Sc
9 son, or over twenty five per cent. decreas
Notwithstanding and rather sure indie
= tons that the November packing will ia
t, below the season of 1882, we find thi
pork and lard have been forced down
!, lower prices than were current year ag
a which seems to argue that unless pric
" were high then, they are low now, and Il
b. decline in prices was much greater ths
h. and it is doubtful if values were not force
p lower than warranted by existing circuI
II, stances. For months past it is well know
- that outside operations had been dull G
:, provisions. They said there were rel
Il lively small stocks on hand. al
II. a steady decrease on the same. II
" new hay crop was short one. and TIT
have built opinions on what no doul
seemed to them a legitimate foundatio
le But the great trouble was the product W
owned by too many, and when the shal
decline set in. margins were called in
freely that holders brcame nervous and
large amount of property was forced
D. sale by the absorption of margins and t
o. timidity of holders. Had the produ
in been held by few strong parties. the I
at cent drop would not have occurred, b
a. the owners began to run. and losing the
ne courage, sold out. The stronger class
operators saw their chance to get hold
III the stock at lower prices, SO offered roul
8 lots for future, so as to help the mark