Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-10-25
CORN SELLS OFF SEVERAL POINTS
Millions Of Bushels Thrown Upon the
Market by Spectators.
THE PACKERS ASsAULTING PORK.
Cheap Hogs the Only Hope for a Profit.
able Packing Season.
Especial Telegram to the Globe. I

than usually wide. Corn evinced much
weakness, but was firmer at the close than
at the opening of the day. Wheat held its
own compared with yesterday, gaining
slightly in the afternoon. Provisions
were alternately up and down. closing
with the latter tendency. Wheat was
quiet and lower early, but later improved
and sold up 3sc, and at the close October
was about the same as it closed at 1 o'clock
yesterday, November 1sc,higher, December
nearly unchanged, year also unchanged. The
opening sales were at &c below the clos
ing figures at O'Clock yesterday, but be-
came somewhat firmer in the session and
advanced 2sc, then ruled steady and closed
tolerably firm. A moderate speculative
business was done. On call there was
better demand, and prices were a 81; d.
firmer than at the close of the regular
board on yesterday. Winter and spris o
were both quiet and steady, but the latter
ruled little easier. The -four market
continues quiet; still, the feeling in the
market was firmer, and it was owing greatly
to the scarcity of desirable grades that
was preventing business. The home buyers
were looking about and bidding for lots
coming within their limits, while ship
pers and exporters were on land and
buying considerable of the good sacked
lots or lower grade stock. Oats were quiet,
slow and easier to-day. Rye dull and
trifle easier. and barley also quiet but
holding up well.
The bulls and bears on corn renewed
their battle of yesterday, and, as then, the
bears came out ahead. The increased re-
celpts are having considerable influence in
depressing this market. On the board to-
day trading in this grain was fairly active,
but opened weak and lower, the feeling
at times being much depressed and pri-
ces about three cents below the closing
fignres at o'clock yesterday, but later
there was stronger feeling, the lower
prices bringing out pretty brisk demand,
and the market recovered about 11%c, af-
forwards huctuated within a moderate
range and closed steady. The principal
trading is still in November and year, but
there was also good business in January
and May. Early sales were at lie de-
cline from the closing at 1 o'clock yester-
day, fell Off about lie more, then rallied
i1sc, afterwards changed some and closed
steady, about 124c lower for cash, 1%c
lower for November, &c lower for year,
lc tower for January, and &c lower for
May than the closing figures ON change
yesterday. On call the demand increased,
but the bears were heavy sellers, putting
over million and third bushels out at
prices 1s@4c higher than on the regular
board. As on yesterday Lester was big
buyer, but Hobbs and some other commits
sion men who have been bulls of late
threw out their grain by the million bushels.
Some of the Intelligent tailers who have
been bulling corn on the strength of Les
ter's operations, felt a little uneasy.
''Corn," said one of these tailers, sis, of
course, too high, but have
been built on it because
I believe there is very little
of it in the country, and because believed
that it could easily be manipulated" Over
500 cars have arrived within two DAYS and
is now praying for rain, which would de-
lay the receipts of new corn, on the
strength of which st. Louis, Cincinnati
Louisville and other southwestern cities
have gone short in this market to the ex.
tent of many millions of bushels. Some
little Cairo corn has arrived here. and it is
reported considerable quantity of south
ern corn is under way or ready to ship, land
will flood the market this week.
| The packers continue to hammer away al
the provision market. but were not able
to day to bring about a repetition of yes
terday's tumble, although at the close de-
pressing prices considerably. plucky
fight was made by the longs outside the
packing clique, and at one time marked
advance was scored. The light receipt:
and poor qnality of hogs to-day favored
them. The market opened weak, anG
price ruled lower, owing tt. free offerings
Later the market exhibited considerable
strength. The demand was more active or
speculative account. and prices advanced
materially on all the leading descriptions.
Shipping demand moderate, and
prices favored buyers. Foreign
advices rather unfavorable, and lard
quoted Sd lower. Eastern markets un-
settled. The receipts of product were
moderate, and the shipments quite liberal
The offerings of mess pork were free, an6
prices ruled 2O@ 25c lower early, but rallied
50@ 75c later in the day, and closed
comparatively steady. The demand fol-
lard was active and offerings fair, price:
ruled log 15c lower per 100 pounds early
but rallied 150 25c and closed steady. Or
call the bears threw big quantity of bott
| pork and lard on the market, and succeeded
in depressing both, the latter a trife, but
the former decidedly, wiping out the gair
of the morning. The bulls were agar
badly demoralized, and their courage i:
shaken. On the call board alone during
yesterday and to-day more than million
and third dollars worth Of lard and
uesrly as much pork have been unloadei
by the packers to break the market. Thi:
is a regular yearly experience. Packing
begins next month, and cheap hogs are The
desideratum. Within a fortnight they
have been depressed 81 hundred, ant