Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-09-17
CORN AND WHEAT IMPROVED in PRICE.
Pork Steady and Liable to Increase in
Value at an Early Day.
Az ALARING SHORT CROP COMING IN
The Consumption Greater Than the Sup
ply High Prices Certain.
Especial telegram to the Globe. !

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 so 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 receipts moderate, and
under active demand to cover short sales
prices advanced "a @ &c. on the near OPP
TONS and was active, closing at nearly the
highest prices of the season. At thu close
cash No. was about &c. higher than it
closed at II O'clock yesterday. October
about 2llc. higher, November about 138c.
higher and year aisout 1c. higher. The
market opened at a triAing advance over
he closing figures, at 1 o'clock yesterday,
but under brisk demand prices qu5ekly
took the up turn and sold with little
reaction q C. over She opening on Sep
TENDER, I C on October, and Il C. on 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 carly
in the day, and excited the market sonae,
when those who had sold the bottom be-
came alarmed at the upward movement
and began to cover:
The large line of shorts did not dare risk
carrying their deals ever Sunday, fearing
an unfavorable change in the weather. In
case of a storm with cold weather and indi-
cations of a frost shOslld occur before 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 on Monday, and no doubt declina,to
so cents for October, which is now the
favo-ite option. Old corn is coming in,
bat no new crops expected before NoT- LIST
and not i'll liberal supply until December.
| Spring wheat WAS qeiet and steady.
Cash No. = sold at 9S13c. and closed at
$3.50.
| 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
|
o'clock yesterday.
October was &c higher, November ike
wise &c 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 frner, 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 on
great deal more product than we az,
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'
rate, and the indications are that we shall
step into Che 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 a 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 thu
they cannot fill their orders for meat
: even though they offered liberal premium
0 over September options, and it is a fat
a that for two weeks past short ribs for spc
delivery have uniformly sold at stron
n &c per pound over the prices current fc
e the September option. In the matter
X the hog supply we find that the receipts {
!, all points in the west are much smaller tina
;. last year, the packing in the west to da
q 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
:, below the season of 1881 -S2. we find tn
pork and lard have been forced down
), lower prices than were current year ag
= which seems to argue that unless pric
Y were high then, they are low now, and Il
\. decline in prices was much greater thu
t. the most sanguine of the bears anticipate
4. and it is doubtful if values were not force
J. lower than warranted by existing circuI
T. stances. For months past it is well know
u that outside operations had been dull {
\ provisions. They said there were rel
! lively small stocks on hand. al
|. steady decrease on the same. t
Y new hay crop was a short one, and tn
have built opinions on what no dou
seemed to them legitimate foundatio
,e But the great trouble was the product W
owned by too many, and when the sha
decline set in, margins were called in
freely that holders brcame nervous and
large amount of property was forced
H. sale by the absorption of margins and t
o. timidity of holders. Had the produ
in been held by a few strong parties, the !
at cent drop would not have occurred, b
a. the owners began TO run. and losing the
he courage, sold out. The stronger class
operators saw their chance to get hold
III the stock at lower prices, SO offered rou
s. lots for future, so as to help the mari
- down. 1t is surmised that the stock
d. hand are now largely owned by few, a
L. for the time being there is more stabili
th noticeable There is no doubt that all
G. ,,roIroa will he wont a6 for cOnSum NH