Daily globe., 1883-07-19
WHEAT DECIDEDLY WEAKER.
LOWER But FIRM.
CHICAGO.
Especial Telegram to the Globe 7

the speculative world outside, has check
ed the advancing tendency on 'change,
causing dull and dropping markets to-day.
Long holders we're disposed to sell out and
prices under heavy offerings declined ir-
regularly to the close, as promised IN yes
terday's dispatches. Should telegraph
communication continue without Interrupt
ton, the holders of to-day would be inclin- !
cd TO buy back again, and the early effect
would be to establish a higher range of
prices, bat should the strike, as is now
expected, be precipitated tomorrow, the !
result mast be q further decline. Buyers !
are holding off awaiting developments. |
Provisions are so sensitive to every infu- |
ence that they showed the effect of this /
uncertainty in a marked degree, other
wise there would have been continuance
Of yesterdays buoyancy. At the opening
there was a brisk advance in pork, but
not any in lard, brokers began selling,
and as Bensley and Adam
both seemed literally supplied
with orders to unload the whisper went
around that Armour was selling out, and
this with the strike announced to come off
at once. served to create a stampede
which sent September pork down to
S14$G, where buyers stopped, and ran it
up to $14-55. The receipts of hogs are
still Iight-lO,OOG to-day-and the ship
ping demand is fairly good, with more
inquiry among the spectators for the
near options, than for deferred futures
The crowd are so much ratified by the
complications of strikes and German
embargoes that it is hard to reflect the
feeling intelligently.
Wheat suffered loss of 115c.
Corn likewise started on the down
grade and closed at about inside figures.
although after 2:3O o'clock there W as con-
siderable inquiry among crib traders for
August corn and some improvement in the
bidding.
The receipts of grain to-day were 81
cars of wheat, 318 of corn, and I65 of
oats, considerable decrease from yester-
day. The shipments reported we're $500
bushels of wheat, 164 bushels of corn and
$4,000 bushels of oats. The charters were
+4.000 bushels wheat and 166,0O0 bushels
corn.
On the board a large speculative busi-
ness was transacted in wheat The feel
ing was considerably unsettled. accom-
panied with a lower range of prices. The
market opened about sc lower, but
the offerings were soon increased. and IN
der heavy pressure to sell brought to
bear upon the market prices declined with
some fluctuations l1a115c additional.
huetuated but slightly and finally closed
easy and 1 &c lower thar yesterday. The
weakness was attributed to a falling of
IL the demand, shorts having covered p7et-
t. freely, besides the depression IN pro
visions and the weakness in corn. all con-
tributed towards weakening the feeling.
August closed on the board at 81. .O335,
September at %1O5$5.
Corn ruled considerably lower. An ac-
tive speculative business was transacted
II this market, but the shipping demand
was not at all urgent; in fact the
demand from shippers was more limited
than usual, and lower prices alone tempted
them to buy. The receipts continue quite
free and operators calculated on increased
arrivals. The liberal decline in the lower
grades of corn the past two or three days.
especially for rejected, which to-day was
fully &c. below the price of No. ,, and
the continued liberal offerings of the
lower grades, has depressing effect on
the speculative trade. The decline in
provisions reacted somewhat upon the corn
market. On the whole there was more
pressure to sell, and the offerings were
liberal. The market opened about &C.
lower and declined to point IL q sc.
lower than closing figures on change
yesterday, and finally closed within an
ga 4c. of the price reached with all
futures under 81 Z.
No. cash and July oats were
in good speculative demand evident
ly from shorts. The offerings were
meager and prices improved
The deferred futures were quiet and tame
They did not share in the improvement
the crop prospects probably holding them
back. Sample lots of choice white oats
sold well and -uIed firm, but common
grades we're dull and easy. No. , cash
advanced from 3314c to 33c. July ranged
1c higher. Other futures were quiet and
q trihe below the closings of Yesterday
Rye was firm. The offerings were light
and under a fair demand No. cash sold
at 5615c, which was 15@1c advance. Flu
ture deliveries we're firm with July 15c
higher and deferred fatures without essen
tial change. Offerings generally small
In barley there was a sale or two by
sample, but otherwise there was no trad
ing. The market remains neglected
Cash trading is over until new barley
comes in, and there was no disposition to
trade on the new crop.
All the surroundings of the provision
market at the opening were favorable for
stronger market. The receipts of hogs
were light and prices were quoted 15a 25c
higher per 100 pounds, and the reports
from Liverpool showed a stronger feeling
IN that quarter. accompanied with an ad-
vance OF Is Cd in lard and 6dG1s in bacon.
The demand at the opening was fairly
active and prices were advanced slightly