Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-05-07
But All the Other Cereals in Chicago
Very Much Depressed.
MAY WHEAT A FULL CENT LOWER.
Corn Also Sluggish and Tending To-
wards Lower Prices.
PROVISIONS FIRM AND ACTIVE.
A Review Of the Present and Future of
the Pork Trade.
ROVISIONS FIRM AND ACTIVE.
FAIR ACTIVITY ON WALL STREET.
The West Shore Line-GOssip About
Vanderbilt's Retirement.
CHICAGO.
Especial Telegram to the Globe. |

which took big squirt upward. Although
there IS no corner in this grain, yet parties
having the cash property and more or less
hold on the future options ale booming it
with the idea, it is thought, of bringing
about big advance, and then unloading.
PROVISIONS were likewise buoyant to-day,
being manipulated by the boys to this end.
The fact that June lard sold above July
shows clearly that the advance was
due to Legitimate causes. Wheat, corn
and oats ruled lower al day, both wheat
and corn closing full cent under the last
call sales of Friday, and oats nearly half
as much mora. AS usual the weakness
started IN the wheat pit, where firm and
advancing foreign market was more than
counterbalanced by the more assuring tone
of the crop advices and more favorable
weather. As on yesterday the decline was
checked by free buying by shorts
and traders who saw profit
for them at lowest figures.
On the board wheat to-day was active,
the feeling unsettled and prices were ir-
regular for the various futures. The spec
ulative offerings were quite liberal early
IN the day, and the market ruled consider
ably lower, but later under a more urgent
speculative demand, prices rallied some
what. The receipts continue small, but
the market was governed mainly by local
speculative influence. The market opened
from q gle lower, and under file offer
ings quickly sold off an additional I@%c.
At this decline the demand became more
active, and prices advanced %@1Ic for
the various futures, fuctuated and finally
closed 1@112c lower than the closing
figures on change yesterday, with July
showing the greatest weakness. Spring
wheat also sold lower to-day.
Flour continues quiet and trading light.
with dealers holding at firm prices and
have light stocks to work from, but buyers
were scarce and were unwilling to pay the
prices demanded. There was a fair call
from the home trade, but little on outside
account. Rye -four was selling lower.
Bran and all mill stuffs were in large sup
ply and selling considerably lower, with
bran selling off to $11.OO per ton
and other kinds to a relative rate.
The corn market was fairly active, but
prices ruled decidedly lower, though some
what irregular, May closing lie lower
than yesterday, June 118c lower, and
July &c lower. A small lot of rejected
corn in the Illinois river elevator, was
posted as out of condition, which caused
good deal of uneasiness, and there was
quite rush to sell. The first sales were
at 1@114c decline from the closing prices
at o'clock yesterday, fell off 38c to 10
more,but finally the pressure to sell relaxed,
and with wheat and provisions showing
good deal of strength, Corn reacted,
May improving 38c, June 10, July 10,
afterwards fell sharply 1ac. and closed
ersy. The decline was a continuation of
that starting yesterday afternoon after
board hours, when Il and &c. of the loss
wss incurred. The receipts being larger
than usual to-day had more or less infu-
ence.
Oats were quiet and dull. There were
not many orders on the market. The low
er grades were depressed by the easiness
In millstuffs. Cash oats were hardly men
toned. The more favored features suffer-
ed decline of over cent bushel from
figures current at three o'clock yesterday,
with only slight rally at the close. July
was especially weak, ending the day 115c
lower than it sold on call Friday.
The advance in rye was quite remark
kable. Large shipments this week and the
constant bidding by large operators has
caused much uneasiness among the shorts.
Hence there were numerous buyers and
an active demand. The main business
done was in June, which sold to 70 d c.,
or nearly sc. higher than on the board
yesterday. Finally closing at CSC
May was 3@315cent higher and July
115@2c higher. A full cent of this gain
was made on yesterdays call.
But little was done in barley. Both the
sample and in store markets were nearly
lifeless. Buyers were scarce and sellers
could get few offers.
Considerable interest was manifested
with market for hog products to-day, and
trading was active on speculative account.
In general way the market was strong,
and competition among shorts for the
offerings for future delivery was brisk, re-
sulting in substantial advance in PAGES
for all leading articles, which was well
maintained to the close. Shipping inquiry
fair. Foreign advices indicated a stronger
feeling in lard, and Liverpool quotations
were advanced Cd. Other articles IN
changed. Eastern markets were stronger
and prices favored sellers. The receipts
of products were very large and the ship
ments fair.
The offerings of mess pork were qnite
liberal and the demand active. Prices
were advanced 25@3Oc, and the apprecia-
ton was moderately well maintained,
the last sales being within 1Oc
of outside figures. Cash and May
pork were quiet at about sc under the
June option.
The demand for lard was brisk and the
offerings were large. The market ruled
strong, and prices were advanced 20 @25c,
reacted trifie and closed strong. Cash
and May were quiet, June being the op
ton most traded in, commanding a pre-
MUM over July of 715c at one time, and a
larger premium over the more deferred