Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-05-22
1t Influences Prices Considerably on
the Chicago Board.
BULLISH TENDENCY SHOWN.
Wheat, Corn and Oats All Higher
Than on Saturday.
BLUE MONDAY ON WALL STREET.
No Improvement in the Demand for
Speculative Stocks.
CHICAGO.

CHICAGO, May 21.-The return of winter
brought with it stronger markets. Both
grain and provisions opened higher, and
for time showed considerable frmness.
but the want of confidence among traders
so general of late soon manifested itself in
food of offerings which checked the ad-
vance and induced sharp reaction. 1t
was generally believed that some of the
heavy sales made we're fer the large longs,
of whom the crowd has grown very sus-
piciOus. While the present nervous feel
ing exists no considerable improvement in
values is possible, yet as long as there is
so much uncertainty as to the plans of the
Armour syndicate, and the threat of bull
raid is held out from that source, the bears
are reluctant to sell short to any great ex-
tent. Unless Armour shows his hand mat
tiers must soon drift into a condition of
stagnation. The volume of the trans
actions on Change is diminishing,
and the trading done is in
great part by scalpers, who buy
to sell Immediately. Wheat showed most
strength to-day, and although subject to
frequent changes ended the day on an up
be selling soon after the opening were
open buyers in this market to some extent
later, which fact induced a good deal of
covering, and helped to bid prices up. The
cold stormy weather also increased the con
fidence of the believers in larger crop
shortage, while the lightness of the receipts
was another element OF strength.
On the board there was a fair degree of
activity and prices we're very irregular,
the entire fuct2ation of the session being
about 1879. Al the close July was about
lie higher than it closed Saturday, August
55c higher, ana September lie higher.
The market opened firm and 1@116c
higher than at o'clock Saturday, infuen-
ced partially by TIE weather, but the
advance brought out liberal offerings,
and there Was a drop of nearly
lie, after which the market recovered 10
38c, but the offerings being still heavy,
prices again declined, selling off 11$c
from the highest point Oh July, 1870 On
August, and 1 &c on September, but near
the close very firm feeling sprung up
and prices recovered 16l118c, closing firm.
On the afternoon call there was a much
better inquiry, but greater irregularity.
Values were, however, generally H@4c
better than at l O'clock and so closed,
the August delivery being the only excep-
ton. Call sales were fully up to the aver
age, being some 1,350,0OO bushels.
The -four trade was quiet, and hardly
anything was doing, with buyers scarce for
any grade or quality, and refusing to make
any fair bids, and quotations have been
reduced from what was obtained a few
days ego. This condition has been brought
about by the depression in wheat, and
those who have been the heavier buyers
were holding off for a more
settled condition and looking for a reduc-
ton on all grades, or more particularly
for the shipping qualities. The home
trade are only buying for immediate
wants, and will not purchase ahead, while
so heavy are the stocks in Europe and SO
dull the tone that exporters cannot operate
with any prospect for profit, and about all
that has been going forward was the lower
grade stock, and to no quantity even then.
Western miIlers are grinding particularly
light now, and are sending little forward.
as it is said they have lost heavily on their
business for the winter and spring months
and cannot manufacture now with any fair
showing, or present prices of wheat.
Corn opened firm, owing to the cold,
unreasonable weather. aud the first sales
of the speculative features were at nearly
lie advance on the closing prices of Satur-
day, but there we're heavy offerings at
the advance, and with warmer wealth
er reported as probabIs by the
government signal service, the market
soon began TO weaken, and June declined
&c, July 55c and August 55c, but reacted
some later in sympathy with the stronger
feeling in wheat, then fuctuated. but
closed tolerably firm, with June &c higher
than Saturday, July IS higher, and Aug
ust &c higher. The demand was mainly
speculative, although there was a moder-
ate call from shippers. The receipts were
larger than usual. Trading during the
afternoon was moderately active, but
prices were Just a shade weaker.
At the opening oats were more active
and trading heavier and better prices, but
dropped back later and ruled slow for the
latter part of the day. No. 2 cash were
hardly mentioned in store, the arrivals
gong to the sample market. Regular
cash was about the same as May. Sam pies
we're going out quite well and all were
wanted at better than could be had in store
for the same grade.
Rye was dull and sales we're slow at low
er prices with little call for cash and few
willing to operate for futures.
In barley nothing whatever was said or
done outside the sample market, and there
was little demand even then, business be-
ing about over for the season. There was
no speculative trading.
Inere was only a moderate business
transacted in provisions. Values were IN
settled. Early the feeling was strong I'M
der better grain markets and lighter re-
ceiPts Of hogs, some 1900, which were
selling 5@l0c better. The demand, how
everwas comparatively Il zht either FOR i'm
mediate or future delivery and prices
eased OF although closin; bet .er than on
Saturday. The shipments 1gara ,,,Go,o4a