Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-10-18
All the Small Operators Afraid to Ven
ture Out Of, Their Depth.
HEAVY ONES WAITING FOR PRE-,
Probability that Corn Will be Lat
Coming to Market.
A LOWER RANGE ESTABLISHED,
Provisions in an Anomalous Position
Scarcity Of Pork.
TSpecial Telegram to the Globe. I

Especial Telegram to the Globe.
CHICAGO, Oct. 17.-Again the prospects
were at fault to-day. Instead of keeping
right on with their boom, the markets
stopped to rest. 1t is only to take breath,
however. The reason therefor was the
largeness of the offerings, many longs be-
ing satisfied with prices and unloading.
There seems to be difference in the mat
ter of cornering any save the provision
markets. The shorts, warned by expert
ence, are very wary, and hasten to cover at
any threat of an advance, while all except
the larger and more daring operators
on the bull side fight shy of any extensive
forcing of prices which might precipitate
general unloading of the big fellows.
and bury the rest of the longs in the break.
Both sides are. content with medium fuc-
tuations, and the tactics are those of the
scalp rather than the corner. Regular
wheat was i'll fair speculative demand. A
good business was transacted, and the feel
ing was easier, with fluctuations in prices,
however, within smaller range
than yesterday. The receipts
were smaller,bnt the weather was clear and
bright, and this may have influenced the
desire to sell. Prices declined about &c,
and finally closed about 5s@A lower than
closing figures of yesterday. On call the
inquiry continued good, and prices held
firm. There was less call for spring wheat
and prices were shade lower. Winter, on
the other hand, was in better request, and
frmer. Flour showed no change. Ex-
porters were favored with a fair
amount of orders, but their limit,
was generally below the prices asked
by holders. Quite an active speculative
business was transacted in the corn mar
ket. but the feeling was greatly unsettled,
and prices fuctuated considerably within
moderate range, and averaged lower.
The offerings were free, being influenced
to some extent by the crop reports, while
the demand was fairly active at times.
The reports from the foreign and eastern
markets indicate considerable steadiness.
The receipts were rather light, and ship
ments only fair. The weather was bright
and clear; and this had some effect on the
market. Prices declined to point 1sl@
PIC below the outside prices of yes
terday for the leading futures, and
1@14c for next years delivery, and closed
at about the inside prices. On the call
board this cereal rallied, advancing 10
5sc. Concerning the popularity of the
advanced market in corn, it is now said
this is dne more to the shorts just at pres
ent than to manipulation. There is no ap-
parent concert of action between the trad
ers to bull in either November or October.
There was, it is true, such a combination
formed month aud more ago to advance
November, but everybody declares that this
clique unloaded for November last week,
and took hold of the year option.
The 6gurers who follow the combinations
and the tailors who keep in the wake of
the big operators, have been wrong on the
market for the last few days. When the
Tester crowd sold November and bought
October, these men followed suit SO far as
the selling went. Now, they are all sorry
that they did not keep the November. It
is SO seldom that the crowd here succeeds in
doing anything itself without the aid of an
Armour, or McGeoch, or Handy, or
some other leader of consequence, that
there is a general and genuine surprise
felt all around. This time it has been
favored by all sorts of circumstances. The
receipts of corn have been pitifully small.
One day last week they aggregated only
forty eight cars, and another day only
fifty-four. The demand for the grain in
New York and abroad has been good, while
the receipts have been very light and the
shipments have been relatively very heavy.
When will new corn arrive here? This
question receives all sorts of answers ac-
cording as it is put to bull or bear.
The former has it that there will not
kernel reach here that will pass inspection
before December, while the latter are GER
tain that train loads of it will be coming
here early in November. The answer
depends really upon the weather.
upon how hot a sun there will be
during sunlight, and how hard frost
during night fall for the next four weeks.
men who have most to do
with the growers of grain, are very sure
that good deal of corn will reach here
and grade No. 2 before Nov. 8. The farm
ers will get it in here next month, says Nc
Geoch's firm, if they have to kiln dry it.
President Dunham, of VIM. Young & Co.,
was sure few weeks ago that there would
be little csrn here in October. It is said,
however, that he has climbed over among
the bulls now, and declares that corn has
not graded No. in November for ten
years. When John B. Lyon ran his IA
nous wheat corner here and busted him
self and pretty nearly everybody else, the
farmers hurried along their wheat by build
ing great bonfires in the corners of their
fields. That year wheat arrived here two
weeks earlier than either Lyon or his
bankers or anybody else anticipated. The
farmers may get some corn in between the
first and last days Of November of this year,
and give surprise to certain prophets.
Oats were dull, and ruled to-day at
about Saturdays prices, yesterdays ad-