Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-07-07
STRONG AND ACTIVE,
With Indications FavOring Continuance
for the Month, at Least.
CHICAGO.
Especial Telegram to the Globe. !

business was transacted the markets have
been quite devoid of special interest to-
day. Values are still unsettled and ner-
vous, but no longer panickv. Wheat at
one time sold considerably higher, but lost
most Of its advantage before the close.
The feeling was weak at the opening.
influenced somewhat by lower
prices in London ana Liverpool First
sales Of August were made at $1.O1 /, and
later $1,000 was accepted. The bulls
made q strong effort to rally prices,
and by free buying and re-
ports that large amount
of freight room had been taken, they in
duced the bears to buy freely to cover
shorts. There was olso considerable buy
ing by brokers whowere induced by the free
bidding by the bulls, to go in for an upturn
and the strong competition among buyers
sent prices up to $1.O225. When the ur-
gent shorts had taken all they wanted the
demand was slow, prices again fell back
to $101 Il, and closed at $1.01B. The
general tone of the crop reports favored
lower prices and the advance was purely
the result of manipulation. Noprominent
to hold The rumors of damage to grow
ing wheat in the northwest by the ex-
tensiVe not weather were reported to-day.
Call trading was light, about 675,000 bush
els changing hands at prices current at 1
o'clock, and 15c better than those pre-
vailIng at the close of Tuesdays business.
Eightg four cars of wheat have been re-
! he -
rail shipments reported were 1925
bushels. The visible supply is reported to
be So, 900 bushels less than last weeks.
To-day a car load Of winter wheat of the
crop of 1888, from Kansas, the first of the
season, was received II this city, and
weighed 5915 pounds to the measured
b1shel and inspected No. . Turkish, With
new crop now coming on and the visible
supply still very large, permanent ad-
vance Is very doUbtfu, and any bull move
meat at present unlikely. There was a
large business transacted, although at
times the market ruled quiet. The mar
ket opened from 10 15c lower, Influenced
by hot weather, which brought out free
offerings, but the visible supply showed a
reduction of 100000 bushels since the
las statement, and the shipments
were considerably larger than the
reported receipts, and these facts
brought out an active demand, under
which prices were advanced lie. Later,
when the inspection list was posted show
ing the inspections for the past seventy
two hours to have been 1887 cars, the
offerings were more liberal, and prices fell
off - ale, but again rallied and finally
closed about 3$c higher than Tuesday.
On call prices were 18@l4c better, August
selling to 1885. Many of the houses
which have been buying for the past few
days were selling to-day, and although they
are probably pretty we'll evened up, as the
crowd generally is of the opinion that
some one is long considerable corn, and,
consequently the close was quite firm.
Had it not been for this feeling, prices
would undoubtedly have gone lower.
Prominent bears still cling to that side
and although they may not now be short
much, are liable to put out line any day;
hence the turn this market will take is ex-
tremely uncertain. Shippers are buying
freely and arrangements for the shipment
of round lots are being made; $4,000
bushels were reported forwarded east since
Tuesday.
In the oats market the prices ruling to-
day snow improvement over the closing
quotations of last Tuesday all round. A
fair speculative business was done early
July in particular was in good request.
Late in the session a quiet feeling pre-
vailed, bat sellers were not at all numer-
Gus and although a slight reaction
occurred prices still remained considerably
improved. The shipping demand was fair
and or the sample market considerable
frmness was manifested. In store No.
oats were D gle higher. July ranged 1870
higher and closed 111Sc over the closing of
Tuesday, August was 5000 better, and
the deferred futures were about Ic i'm
proved. The market closed firm at about
outside prices. On the call the shorts on
July oats were worked up to quite scare
and advanced the price of that future 1c
more, or to $500, gain of 214c for the
day. Other options were shade better
in sympathy. One hundred and forty
eight cars have been received here during
the past three days, and 218,O00 bushels
shipped out. The visible supply has
decreased 100000 bushels since the last
report.
Rye was quiet and easy with no ship
ping demand, little speculative inquiry
and moderate offerings.
Provisions were on the whole dull with
disposition among the trade to take a rest
until something new developed and to
this end a petition was in circulation ask
ing for the adjournment of the afternoon
call during the hot days of
July and August. During the early
part of the session a stronger
feeling was developed accompanied
with material advance in prices. The
advance in the prices of hogs tended to