Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-06-07
OATS THE ONLY STRONG CEREAL.
Wheat and Corn Show the Lack Of Good
Support, and Close Lower.
A REDUCTION IN PROVISIONS
A Good Business in Wall Street Led by
st. Paul and Western Union.
CHICAGO.
Especial Telegram to the Globe. !

only oats were weaker to-day. There we're
no special features in trading. Wheat
was weak, in sympathy with lower prices
everywhere else, and encouraging crop re-
ports from the North and West, which in
duced strong pressure to sell. No par
ticulsr support was given the market from
any quarter, the buying beng almost ex-
clusively to fill shorts and for a scalp on
each turn. There seems to be feeling of
uncertainty on all sides. The splendid
growing weather had a depressing in
fuence on corn, as do the continued large
receipts, which is said to be partially due
to prominent operators who are short, and
do not wish values to go higher. Many
longs appeared discouraged to-day and sold
freely. These facts counteracted any DOS
sible effect of the good shipping inquiry.
Pork slumped off under free selling, the
rally at the close yesterday being under
stood to be due to manipulations by bulls
who wanted to sell out before values
became too low. There were $50 cars of
corn, 324 being of contract grades ca of
wheat and 173 oats inspected in by rail to-
day. Also $4,000 bushels oats by canal,
while 8,763 bushels wheat, 21O,S54 corn and
101,076 of oats were shipped out. The
vessel charters were for 10000 bushels
wheat, 328,00O corn and $4,000 oats.
The directors Of the board of trade are
now fairly at work on the adulterated lard
matter, but have long job before them.
To-day only one witness was examined, and
he only by McGeoch's attorneys. He told
what he knew Of the matter of lard making
at the AngloAmerican houses, but except
that he swore to knowledge of the adul-
terations prachced little Is known of his
testimony. The directors adjourned at G
until tomorrow. Their sessions are, of
course, with closed doors hence much of
the developments will be kept from the
public unless the quarrel, which is quite
probable, gets into the courts, in which
event a sensation may be expected.
On the board to-day the wheat market
was unsettled, and weaker feeling again
developed. The weather was bright and
warmer, receipts fair and foreign market
advices were OF an unfavorabIe tenor. The
market opened about the closing figures
on call yesterday afternoon, but soon com
menced to weaken under liberal speculative
offerings and prices declined 18@15c, with
July showing most weakness, rallied 81 90
&c, huctuated and closed 15@78 lower
than the closing yesterday. On call the
tone was shade stronger. and 100000
bushel were there sold. Winter wheat in
fair request bat lower and flour was again
extremely quiet. There were fair lots of
choice spring wheat -four taken by local
jobbers, but shippers are holding off and
doing nothing to speak Of. Only one lot
sold for export, and that to fill a special
order.
Corn was fairly active on the board
and pretty good speculative and ship
ping business was transacted at lower
prices. The weather was hot and receipts
of corn again quite liberal although
not so large as yesterday. Foreign ad-
vices also unfavorable, and under
the combined infences the
offerings to sell were liberal. Consider
able long corn, which was sold on stop
orders, aided materially in weakening the
market. The market opened about 80 &c
lower, ruled easy, and under free offerings
declined an additional 25@14cper bushel,
fuctuated slightly and finally closed Ia
l &c lower than on change yesterday. On
call there was a spirited demand for July
and August delivery, 100000 bushels of
each changing hands. Not much was
doing in other futures. Prices were ad-
vanced 159llc over those current at 1
o'clock.
In the oats trade there was very good
shipping demand for No. 3 white. This
grade was tirmer and slightly improved
No. oats were also in good request at
139lc higher. Rejected we're not i'm
proved, and sample lots of this grade ruled
quiet. The speculative market was firm.
being Influenced by the decline in other
markets, but on the contrary sellers were
scarce and prices ruled firm and higher.
There was not much disposition shown to
sell. At the same time a fair demand ex-
listed. The near futures were advanced
18@ &c, but reacted &c, while deferred
futures were 18@ &c higher. In the after
loon sellers views were about 18c frmer
duQ 1O,UOO UuSuOlS LUZ Q0llN0ry SOLO
on call, but business in other options was
small.
Rye was weak and lower. Cash was
&c lower, and the deferred
futures ranged 1920 lower. The
demand was light, while lower markets
for other grain exerted weaker feeling
Very little disposition was manifested tc
buy. June sold &c lower. July 115c low
er, and August was PIC lower.
Barley was very dull, there was not Sc
good a demand as on yesterday. Some
maltsters have withdrawn from the market
they say, for the rest of the season. Re-
ceivers found it difficult to effect sales
Prices continue weak, and sales were con.
fined to sample lots.
Considerable speculative trading was re-
ported in the market for hog products r.
day, but the feeling was weak during tbs
greater portion of the day, fair part Of
the advance in prices gained during the
latter part OF yesterday was lost
The offerings were free, while the de