Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-10-27
FARMERS WANT PRESENT PRICES.
A Large Supply on Hand Throughout
the South.
THE DEMAND FOR PORK COOP.
Important Decisions by the Appellate
Court Affecting Grain Contracts.
Especial Telegram to the Globe. I

market weaker. Hog products to some
extent reached from the decline induced
by the forcing process, while both corn
and wheat took another drop. Regular
wheat was quiet and steady early in the
session: but weakened later, and at the
close October was about 1c lower than it
closed at l o'clock yesterday; November
| 11s lower; December about II lower;
year 1clower. At the opening the market
was $sc lower than it closed at O'Clock
yesterday, ruled tolerably steady until
| about II o'clock, when it began to weaken
and fell irregularly about 1c on November
and December, then fuctuated within a
narrow range, and closed rather easy.
On call under demand that was at best
but moderate, prices eased off a
shade more. Winter was in fair demand
and prices for No. steady, but No. ruled
lower,there being little competition among
buyers. Spring was weaker, the demand
being small and the receipts large. There
was more pressure to sell, and the specula-
tive market ruled lowe.
Flour was quiet and unchanged
In the corn market quite an active bust
ness was transacted, chiefly on speculative
account. The feeling was unsettled, and
prices averaged lower than yesterday. The
receipts were again quite large, and there
was considerable pressure OIL the
part of speculative operators to
sell. Foreign advices quoted
steady market. The market opened weak
and lower, and soon declined to point la
111sc below the closing figures OH change
yesterday, then rallied about 1c, but under
free offerings again declined 24@1Ic, year
ruling the weakest, fuctuated, finally close2
about lie lower for cash and October, INC
lower for November, PIC lower for year,
and g q 1aclower forJanuary andMay than
closing figures on change yesterday. On
call the offerings were free, and a million
and three-quarters bushels were sold at
prices 20 1ac lower than on the board for
the near and 4@1sc higher on deferred
deliveries. A prominent broker thinks the
farmers are tired of waiting for higher
prices than those shown on the
present bulge. There is little doubt but
that generally wished for price was 75c.
a bushel for cash corn, but this looks du-
bious. The southern corn belt has been
exceedingly prolific this year, and never
since the war, according t. major s. H.
Richai dson, who has just returned from
there, has there been such q cotton and
corn crop. There are few if any spare
hogs to feed this corn to, and in the opin-
ion of this gentleman, the South will ship
largely to st. Louis and Cincinnati mar
kets, and at once save storage expenses and
cribbing. 1t was stated that a sale of
100000 bushels of new corn to come from
Kentucky and 100000 bushels from
Tennessee, both lots to arrive
here in November, is good
pointer of the corn South. It is under
stood that in this sale the difference be-
tween the buying price South and selling
price here was large enough to give a
handsome margin to cover the risk that
some of it will not grade as No. 2. This
Is likely the same all the way through
the southern corn sales. They are seeing
the beauty of sales of bona fide stuff now
on future contracts. There was a time
when a farmer never thought of selling
for anything but present prices. Now
sales for future delivery of grain from the
county are certainty. The receipts
promise daily to be larger. When the
farmers in the corn belt begin to
clear out their corn bins, to scrape up the
kernels from the corners, to pick them out
of the cracks, and to carry them to the
station, even the grain they had set aside
bull spectators to look out. A bid of 7Oc
a bushel for corn even at the very tail end
of short crop, will bring out good deal
of grain, even after the elevators have be-
come empty, and after even the contents
OF the warehouses along the railroads have
been spouted into freight cars. If there
is any strong rich clique under the corn
market now, the leaders are probably not
greatly disappointed or dismayed at the
recent receipts. The old heads know tina!
IN this western country the amount OF
grain out of sight is to the amount OF
grain in sight as bushel to kernel. Be.
fore this they have been through seasons
| ~hOA luO COIA III S1Sue Has BULK 10 d lew
million bushels, and when the stock in
store here has become about what good.
sized carrier could take away, they have
seen the figures on the score of these con
ditions suddenly advanced. and they have
witnessed the result. They have seen corn
when it was soberly declared there was
none, begin to pour in here from nobody
knows where. The veterans who have
watched corn season after season viii not
be greatly surprised, no matter how many
cars of corn are received in the next five
days. But the mob-the tailers who have
talked 75c corn for November so long that
they will not believe anything else are
aghast at the receipts for the past few
days. They, of course, relatively with
other years, are not large. On the Other
hand, they are small.
Trading in oats was light, and large re-
ceipts caused prices to decline a shade
Barley was in light demand to-day. and
prices easier. Rye was neglected and
nominally No lower.
A fair degree of activity was noticeable
in the market for hog products, and a
steadier feeling prevailed during the