Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-05-18
DECIDEDLY LOWER.
ST. PAUL EXCEPTIONALLY FIRM.
CHICAGO.
[snecia telegram % The Globe. ]


CHICAGO, May 17.-Pork again led the
decline to-day. Trading was very active,
and at times there was almest e panic
among small holders, who sold freely. A
good many of the large operators were also
selling. The strong realizing pressure
forcsd values down 10 where the scalpers
thought they saw profit in buying, Some
Of the shorts who had made their deals at
last weeks figures, also considered it a
safe time to corner. This demand checked
the break and caused partial reaction.
The uueasiness over the next corn crop
gave that market considerable strength,
and the buying b! the strong parties men
toned yesterday was continued. Wheat,
as expected, lost another half cent to-day.
There was little buying for outside par
ties, most orders received being selling Or
ders, but great many who had sold short
yesterday closed up today, and the Armour
syndicate, apparently fearing that if the
break went further it would
be impossible to rally the
market, bought to fair extente
starting the crowd buying on scalp for,
an Up turn. The Influences favor further
decline, and it will take strong resistance
from the bulls to sustain values tomorrow.
Even the report OF the amount of grain in
sight posted to-day Is unfavorable, show
ing an increase OF 100000 bushels over
last week and decided falling of Of the
amount on shipboard bound for European
markets.
On the board today the speculative
offerings were quite liberal and lower
range Of prices vas established. The feel
ing was unsettled, early in the day was
weak, the n arkst opening at about the
closing figures 70 Al 3 4c better than
On change yesterday, but under liberal
offerings prices declined la &c for the
various futures. Later the market show ed
more strength, Influenced possibly by the
frmness in corn, and rallied q 91c, fuctua-
ed slightly, and finally closed about g lower
for July, 18c lower for August, and &c low
er for September than tie closing figures
yesterday. The receipts were small
Nothing but local speculative influences
wers brought to bear upon the maIket. The
trading after beard hours was lighter than
usual, but 100000 bushels being disposed
Of on the call, and steadier tone seemed
to be established.
Flour was doing we'll for fine and well
known family and baker brands, and
there has been a good home inquiry for
the same, while shipping grades were dull,
and about the only sales were of the lower
grades. Bran and ali millstufs we're in
light supply but with less inquiry and
dull market was quotable, and lower
prices had to be accepted to sell.
Corn was active and decidedly higher,
&c higher than at I o'clock yesterday.
There was an active shipping demand for
No. which strengthened the futures some,
but the principal reason for the advance
seemed to be the more discoursging re-
ports from the country as to the condition
of the new crop. Some reports in the
morning papers indicate the planting to
be unusually backward and much of the
seed is said to have rotted, owing to the
cold weather and poor quality of the
seed. This caused a good deal of uneasi-
ness among the shorts, who bou Zht quite
heavily, and July opened &c higher than
II closed yesterday. and sold up irregularly
5Gc from the opening, and 1lIc over the
lowest point touched yesterday, eased OF
some, and closed steady. The movement
out OF Chicago continues heavy, the lake
charters for this grain to-day amounting
70 100000 bushels during last week To