Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-01-29
The Bears ON Top in the Grain Markets
Yesterday.
THE LEADING GRAINS LOWER.
Chicago Shorts Rushing in Corn to
Cover January Sales.
THE JANUARY SETTLING VALUES.
Belief That the Clique Will Advance
Prices Monday.
THE WALL STREET MARKETS.
A Fair Days Business, But the Market
Irregular.
THE JANUARY SETTLING VALUES
HE WALL STREET MARKETS.
CHICAGO.
Especial Telegram to the Globe

clique has decided to make the settlement
price of January corn. VIII it be SIS, 70
or 75c? Opinion is about equally divided
as to the policy of the monopolists, whether
1t will be to run the price up to the latter
figure on the closing day of the month, or
to bring this month and February together
at half way point. The fact that both
the Hardy and Lindblum branches of the
deal have been large sellers to-day has
given some color to the latter surmise.
This unloading induced a very weak
feeling and when the stroke of the
bell marked the closing hour corn was
freely sold at Csc. At this juncture the
clique turned around and in as many
minutes bid up the price three cents. The
shorts are making a stubborn fight and the
principal members of that crowd are be-
lieved to have decided to hang out togeth-
err. They are hurrying in large quantities
of grain evidently carefully selected with
the aim of making as large percentage
as possible pass as No. 2. This, of course
has bearish influence. The fact that the
leading bulls have stood back from the
break and let the market go by default
until the closing moment, evinc-
ing decided inclination to
increase its holdings, has given rise to the
rGmor that its members were scattered.
Other operators regard the move with sus-
picion, and predict final rally and bigger
squeeze than ever. 1t had the effect to-day
Of wedding cut large numbers of tailer5
II.
deals were closed out by their brokers.
The market on the board briefly stated,
ruled as follows: Less active and at times
very quiet. Still fair business was trans
acted. The offerings to sell were large and
with less demand, weaker feeling was
developed influenced to some extent by the
increased arrivals. The number Of cars
of all grades inspected into store was 426
cars, of which nearly one-third
composed the speculative grade. The price
declined 34@3c for the various futures
with January showing the greatest decline,
and the market finally closed about &c
lower for January, &c lower for February,
1c lower March, and 2fc lower for May
than the closing figures on change yester-
day. Car lots of No. 2 and high mixed
early in the day sold at 67@6714c, and
later at 6615c, but during the last hour of
the session receivers found it almost i'm
possible to sell car lots of cash, being Of
fered at one time down to Csc without
buyers. Late I'd few cars sold at 6615c, and
this was the last sale of cash corn. Round,
lots were quotably the same as January.
Rejected in fair demand and sold at 47115c,
and closed at 47c. New mixed was quiet
and sold at 4815@49c. January was quiet
and early in the day ruled at about 69c,
later declined to 65c, and was offered at
64Ic, with the last sale at o'clock at Csc,
but within five minutes later was bid up to
and sold at Csc. In wheat to-day there was
very fair speculative business transacted
and prices ruled weaker. Early in the
day prices were just a trife better, but
later an easier feeling was developed IN
der very fair offerings, and prices declined
about A@Bc from the outside prices,
finally closed at about 4@38c lower than
the closing figures on change yesterday.
The receipts were trife larg-
er. The British markets were
called steady, but it was noted that the Wis
IDLE supply increased nearly 100000 bu. on
the light movement of last week, and the
private orders from Europe were not an
indicative of strength in that quarter. For
the rest it was remarked that the poorer
crop outlook on this side of the Atlantic
has already been discovered, and their
markets are so far below us as to make the
export of wheat impossible unless at
loss. The speculative market hung fire on
corn and in the absence of outside bust
ness the local crowd was disposed to bear
ishness. Spring ruled quiet and lower and
rates dull with prices scarcely better than
nominal.
Flour continues unchanged with scarcely
anything doing, buyers and sellers holding
apart in their views, the feeling among
the latter being for still frmer prices.
Very little speculative interest was
taken in the oats market. Operators were
in light attendance and trading was lin
tied. The cash market was also dull.
Shippers held off in expectation of better
TGc0lplS u0AI week. anu lOcdl O0dlSrS re-
port trade dull and held off. The feeling
was easy, the market being influenced
some by decline in corn and prices
ranged to shade below the inside quota
tons of yesterday. No. . cash 4@15c
lower. Sold at 81 C. Rejected nominal
Sample lots dull. Future deliveries were
weak in sympathy with the decline in corn,
and ruled dull for lack of demand. Trade
was comparatively light. Prices declined
35@58 below yesterdays inside figures.
Rye was dull, and there was but little de-
mand. Car lots of No. ? sold at 6215c,
and were unchanged, but some of the de-
ferred futures were shade easier. Re
jected nominal at $50 sac. Samples
quiet.
There was no demand on the regular
market for barley, either cash or for fu-
ture delivery. In cash there were
no offerings, but there are no
consignmeuts going into store, but there
were offerings for future deliveries at for
mer prices. No. cash nominal at S3@S4c
and No. 8 about SAC. Sample lots quiet,
and only choice lots salable.
OnlY a moderate business was reDorted |