Daily globe., 1883-05-29
A Steady Feeling On the Chicago Board
OF Trade Yesterday.
WHEAT A STRONG MARKE
Prices Of Corn and Other Cereals Well
Maintained All Day.
EASIER FEELING IN PROVISIONS.
Little Of Interest Transpiring Among
The Traders Of Wall Street.
CHICAGO.
Especial Telegram to the Globe. I


CHICAGO, May 28.-The markets we're
generally strong to-day. Wheat, oats and
provisions were quite buoyant. At the
opening an easy feeling prevailed in
wheat. The receipts were a little larger,
aggregating 81 cars against Al cars Satur-
day. The English markets were no doubt
thinking they had acted prematurely in
buying. Under these influences prices
declined during the first hour, but rallied
again sharply afterward, owing to specu-
lative influences, The morning papers
had somewhat more favorable crop adyioes
than usual and there was an increased
pressure TO sell. Many of the outside
longs who bought on the recent upturn be-
ing disposed to unload. Some who are re-
sponsIble for the squirt last week again took
q hand in the trading and began buying
freely, Lindblom being particularly prom
inent, taking it is said, million bushels
for eastern parties. Others of the wealthy
longs were liberal buyers and
the shorts took alarm. The competition
thus brought about at once had effect, and
prices we're steadily advanced. Late in
the day the bears gained trife more con-
fdence, and increased their offerings, but
did not succeed in making much impress
sion on values. The bulls were materially
aided by sharp advance and considerable
excitement in the st. Louis market. A
good many orders were received from
them, and there was liberal buying by
local dealers on that account.
%l,o
trade there was fair degree of activity in
wheat and an average aggregate business.
Prices were unsettled, opening weak and
38@28c lower, then closing stronger,
quickly declined, having no special sup
port, 4@38c more. But later there was
much excitement, some heavy operators
buying largely and the shorts becoming
nervous and uneasy, and covering quite
generally. This caused a sharp upturn.
July improved 215c from the
lowest point of the session, August Pic
and Sept l fc higher than it closed Satur-
day, July about 1 1115c higher, August 1910
higher, Sept. 115c higher and year 1c
higher. The bulk of the advance took
place near the close. On the call the trad
ing was again active. The offerings were
fair but the demand was fully equal.
Prices ruled steady at &c decline. Over
two million bushels changed hands in half
an hour, half of the stuff being for July
delivery.
Flour was quiet at former quotations,
shippers bought few lots for export but
the demand was mainly on local account
nd ba 4roI Ia
firm, stocks continued very light. There
is little prospect of improvement right
away with the rapid changes in wheat and
the unsettled condition of the trade having
its influence in keep
ing buyers out of -four,
particularly for any long holding, or in
way of speculation. The outlook for
manufactur ers during the summer months
is not good.
There was a fair speculative and quite
good shipping demand for corn to-day.
At the opening, influenced by the weakness
in wheat, warm wet weather and larger
receipts, prices were lower than on Satur-
day. But later the pressure to sell became
less, and with free covering by shorts the
feeling became stronger and advanced
B@1c per bushel above inside figures,
closing on the board, but sold 1s@4c bet
ter than they ended last week. On the
call there were quite free offerings, but the
sales were only moderate, some 100000
bushels, mainly of July. The receipts
we're quite large, equalling COZ cars, 4O6
of which were deliverable on contract.
The lake charters were for 276,OOO bushels.
The speculative market for oats was
very active and there was very decided
improvement in prices. The main interest
in the market was centered in May, June