Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-11-24
The Market fOf Cereals Again on the
Upward Turn.
WHEAT In ACTIVE DEMAND
The Shorts Covering for Fear of Higher
Prices in the Future.
PROVISIONS VERY
ACTIVE.
Stock Speculation Influenced by the
Middle in the Iowa Pool.
CHICAGO.
Especial Telegram to the Globe. !

best OF the market on change to-day, and
values IN the corn and provision pits COM
menced to boom, an advance being noted
along the whole line. The higher prices
get stronger, as the feeling is in favor of
still higher prices. 1t il always thus.
Wheat was active and somewhat
irregular, being easy early in
the day but afterward was
stronger and higher, Influenced by sympa-
thy with the strength developed in corn
and provisions, and when the advance be-
gan the shorts commenced to fill in, and
the competition among them impaired ad-
dltlonai strength to the market, and there
was gradual advance of about 1870,
changed slightly and closed tolerably
steady, with December ABOUT 10 higher
than at O'Clock yesterday, January 3sc
higher, and May 1sc higher. Trading was
largely OF local nature and the course
OF the market was governed by
home influence. The large speculative
offerings caused slight weakness at the
opening. There was apparently a big
line OF short wheat out by local operators,
who were trying to hold the market down,
but 1t would not come down. If it be true
that present prices are a sufficient bull
argument, il adds safety to the bull side to
note the strong upward tendency in corn
and pork Speculation is contagious and
Dull movement in one cereal will induce
speculation in others that have not advanc-
90. Wheat may be Influenced by this
sufficiently 80 as to start it up, and when
it gets started in one direction reason re-
treats. On call the demand was quite &C.
tive and offerings liberal. Prices ruled
weak and 1s@4c lower. Trading was
principally in the January delivery.
In corn speculative trading was unusu-
ally active, and the feeling unsettled and
nervous. Fluctuations were rapid and at
tended with considerable excitement, and
prices ruled higher. The receipts were
fair, but the weather was mild and damp,
and generally considered unfavorable
for the maturing of the new
corn. Shorts were anxious to
cover, and the bull element did all they
could to assist the advance. The market
opened unsettled and 4@Hc higher, fu,-
tuated within a moderate range for awhile,
and then advanced rapidly in all 4@14c
about inside prices and finally closed 5ac
higher for December and year, &c
higher for February, and 11sc higher for
May than the closing figures on change
yesterday. Schwartz & Dupee, who
have for some weeks been
hnl ~
heavily. Lester, Lyon and leading deal
ers also stood ready to take all offerings
and boom was the consequence. Il do
not believe" said leading operator, ''that
there is pound of corn sold for delivery
that is actually held here. Corn is now
being cribbed and the sales are all short I"
On call offerings were rather free and
prices ruled Is to &c lower. Trading
principally in May:
Oats were firm, with increased trading
and prices were higher. The fact Of corn
being good deal better exerted a
ness and tone to the speculative market,
and the sam pie market vas well attended
by shippers and local buyers, 80 that trade
here was good, with frnness prevailing
and some little improvement was gained
Prices advanced from 355e to over yes
terday's quotations. Samples we're freely
sought after and sold at an advance for all
grades, vita the better ears OF white
bringing well above what could be &C
tanned in store. On cali the demand was
active and ghs offerings rather free.
Prices were frmec and ltg95c higher.
Trading vas principally in the May op-
ton.
In the market for rye arrivals we're
small and cash offerings light. The fact
OF other markets being better checked
also the speculative Offering. This gave
strength to the market notwithstanding
only a moderate speculative demand ex-
listed, and prices were 11591c higher. Cash
No. 2 sold at 5Sc. There were sales OF re-
jected by sample at 50@5215c. On call
rye was in good request and prices higher
sales principally in the January option.
In barley We have to note a continued
dull market and no improvement IN prices,
with No. , cash and speculatives slow,
while sample lots were going out quite
well at low range Of prices, while sam
Piles were all worked OF from day 10 day,
but at iow range OF prices, With the bet
ter cars OF low grades doing the best on
track, but the poor we're quite slow.
In four the trade continued greatly de-
pressed, and it has been difficult for some
time to. bring about sales. with the home
trade bayiag only for immediate wants.
Shippers and exporters are out Of trade
entirely, or at nyshing like asking prices,
and were only buying when forced sales
are allowed. Rye -four dull Bran and
al! 1illstufs are N quite good request and
st firm prices.
Qaite an active business WIS transacted
ii the market for hog products to-day,
bet tbs feeling was somewhat unsettled,
and the Illustrations il prices we're
more frequent than duriag the previous
days of the Eeek- Later, however, Safter
the demand vas provided for, tbs offer
ings we're somewhat enlarged. causing a
material reduction The shipping de-
mand was moderately active. Foreign
| adyices quoted the pork market deprsss-
ed and prices Is lower, while bacon was
quiet at former figures and lard fruer al
Cd