Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-06-19


ton being to sell. No one wants to carry
cash wheat even at the present large pre-
MUM. The bears have now the grand
confidence, and for time, at least, wheat
will probably prove sale on any material
rally unless adverse crop prospects should
change the situation. Many operators are
disposed to withdraw from trading until
business becomes more settled.
The corn market opened nervous and IN
settled, with a good many buying orders,
but offerings were free and prices soon
suffered some little down turn. However,
under continued buying some reaction was
experienced At this time wheat COM
menced to weaken, and this, coupled with
forcing weather, better reports from the
country, the receipt of GA cars, together
with diminished shipping demand,
turned the scale. Nichols & Co. began to
sell so literally that prices started down
grade so rapidly that endeayors to switch
off were of no avail. The local bears ham
mered with good effect, and large lines of
long corn were unloaded. July suffered
most severely. At the close on the board
it was b C lower than Saturday, August 38c
lower, and September &c lower. Some
100000 bushels were sold on the call, but
good inquiry kept prices steady and
firm, despite the undiminished offerings.
If the present weakness in wheat continues
a further decline in corn is to be expected.
The shipping demand, it is thought, will
show a decrease the present week. Al
though over 100000 bushels were shipped
east to-day, and many vessels are loading
yet, the vessel charters amounted to but
$4,000 bushels.
Oats, like everything else, were unsettled
and heavy. The futures opened steady,
ranging, in fact. trife over Saturdays
closing. The offerings became liberal,
however, and there was break. The de-
mand was light owing to the general weak
ness in the markets. Prices declined "a
d C and closed at inside figures. The cash
market was also weak and lower. Ship
pers were cautious and bought only spar
ingly, while speculative buyers reduced
their bids with every little indication OF
weakness. Arrivals during the past forty
eight hours were only about fair. Prices
were quite irregular on the call, and under
liberal offerings 10000 bushels changed
hands.
Rye did not change much from Saturday,
but was somewhat easier on the call, and
there was a moderate speculative demand.
Nothing of consequence was done in
barley.
In provisions, while there was rot nearly
that excitement and fuctuation as pre-
vailed on Saturday, the market to-day was
decidedly animated, and large specula-
tive business was transacted. During
Sunday the trade in general were looking
over their books and ascertaining as near
as it IVES possible Just what position they
were il. It was feared that many who
had been called freely for margins wouId
be made to respond, while every one
hoped for the best. The feeling prior to the
feverish and uncertain. At the opening
there was considerable strength
| developed. Prominent parties withdrew.
after purchasing very freely, and the
market during the last hour broke of bad
ly.-Prices were very irregular on every
thing, and orders excessively difficult to
fiji with any degree of satisfaction, either
to buy Or sell. There were quite q number
! Of orders on the market for spot property,
and some purchases made. The market,
while ruling strong and higher up to noon,
closed weak and lower in lard than Satur-
day, while pork and meats closed little
| higher. Lard attracted the most atten-
ton, was active, feverish, and prices very
irregular. At the opening the feeling was
firm; prominent operators taking all that
was offered on an advancing scale Of prices
and mainly of the July and August options,
something over 10000 tierces being ia
ken by these parties in lots of from $50 to
10000 tierces. These free figures resulted
in an advance on the opening figures of 2Oc
per 100 pounds, and up to about IL 80 the
| market seemed to work around to a more
normal condition, but the offerings con-
tinued excessive, and some prominent
| operators withdrew from the market and
the bears hammered the same furiously,
| forcing prices back below opening figures.
! At inside prices one Or two free buyers
again took hold, and this tended to steady
the market. Closing figures show small
decline on Saturdays closing, but a liberal
improvement on inside figures touched
that day Cash and June sold rather free
at prices 71591Oc under the July option.
Prices were quite irregular OF call, but
closed without material change. JuIy,
which at one time sold at $40, ended the
day at $685.. Armour thinks the tone of
the market decidedly improved. The
shipment TO Europe of $4,000 tierces had
good effect. The offerings of
mess pork were quite liberal and
the demand fairly active, especially
! on speculative account. The market opened
stronger at $50 45cladvance on the closing
figures of Saturday, and were further i'm
proved 15G zoe under the influence of an
active demand. During the latter part of
the session the feeling was easier and
prices receded again 25G30c and closed
tame. Call values were steady Most ro-
kers believe prices will go lower. New
York had orders here at the opening, both
for lard and pork, so that it seemed as if
we would enjoy some recovery from the
crash, but the panic in wheat caused many
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