Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-05-03
THEPROYISION MARKET WEAKER,
Large Stocks on Hand Contributing to
the Depression.
BRIGHTER STOCK MARKET.
New York Central Assailed and Selling
Lower Than for Some Time.
CHICAGO.
Especial Telegram to the Globe. !

much a repetition of yesterday on change,
except that the last turn was upward ia
stead of downward. Although wheat was
firm and a shade higher at New York and
Liverpool, yet the fine weather of the
morning and batch of more encouraging
crop reports caused a weak feeling and
free selling, but the decline brought out
good demand to cover shorts, and there
being also fair volume of buying orders
from outside parties, prices soon recovered
and passed the opening point. Values
fuctuated rapidly, but closed at the high
est point of the day. Corn showed little
strength of its own, and followed the lead
ing cereal. Oats were strong and higher,
there being fresh rumors Of bull move
ment in this market. Rye was frmer
and higher, becoming somewhat
active toward the close. Barley was dull
and lifeless. All the grain markets
were stronger on the afternoon call than
on the regular board, wheat selling 4@3c
and corn and oats 18Ql4c better. Large
stocks and increasing arrivals of hogs ex-
erted depressing influence on provisions,
although the net decline was not consider
able. The bank clearings to-day amounted
to S23,50O,000, owing to the settlements
yesterday on change. There was lively
moving out of grain-laden vessels from
the harbor to-day. A dispatch received
states that there is now ample water in
Collingwood harbor for any vessel.
On the board to-day a lively speculative
business was transacted in the wheat pit
and an unsettled feeling prevailed. The
rather free deliveries yesterday and the
weakness at the close of business
created q belief that considerable
long wheat had been sold by the
longs, and this brought out free Offerings
this afternoon. There wsre,h owever, plenty
of takers, especially of the more deferred
deliveries, and values began to rally, ad-
vancing 115c. PIC. over inside figures,
May closing on call &c, June 19c, July &c,
August l &c, and year &c. higher than on
yesterday. The call sales were a trife
over Ga million bushels mainly for July
delivery. Little vas doing other than in
No. . the speculative grade Of wheat, or in
fonr.
A good business, mainly speculative
was transacted in corn on the board but
shippers also bought very fairly. The
market was little unsettled, and prices
averaged lower. Receipts continue mode
rata and market advices from abroad
quoted steady and firm feeling,
local speculation, however, was the
controlling influence. At the opening the
speculative offerings were liberal and the
market ruled easy, being a continue
ton of the weakening developed at the
close of yesterday, and prices declined
about &c. At this decline the demand
was more active, and prices rallied 5000,
t1uctuating, and finally closed 10 lower
for July, while June was about the same
as the closing figures On change yester-
day. In the afternoon the feeling was
stronger and 18@4c better figures were
granted sellers. There was an active
inquiry, but the volume OF sales on call
was small and mainly confined to the June
option.
In oats there was good speculative
trade, and futures were generally better.
The near futures vera mostly traded
in, and May rather led in the demand
from shorts. There was not so good
demand for cash in store oats as on yes
terday, but as the offerings were exceed
ingly light, prices ruled firm. Sample lots
were in good demand and strong. The
receipts were good, but still somewhat re-
dueed. There was heavy buying by par
ties who are trying to obtain control of the
trade, and this startled the covering by
shorts. The advance was greatest in cash
osts and the near deliveries, which
ranged ga lie higher, and they were well
maintained. The deferred futures were
about ID better.
Rye was in good request and firm, with
cash in light supply and ready demand,
while the fNtures were holding up to q
small advance over yesterdays closing.
Barley was in little demand. The sam
pie offerings, which were only moderate,
were steadily held, bat sales were limited.
The in store and speculative markets were
inactive. No offerings of consequence
we're noticeable, and there was also an alb
sence of demand.
The market for hog products exhibited
considerable activity today, but the feel
ing was somewhat unsettled and prices ir-
regular. During the early part of the day
there was more disposition to sell product
for future delivery, owing to the large
stocks reported, and prices ruled easier
on all the principal descriptions. About
the middle of the session on Change the
market showed more signs of strength,
and prices rallied, but the reduction
was not fully recovered. Shipping
demand moderate. Foreign advices showed
no important change, and the eastern
markets were without essential alteration
The reports Of product were moderate and
the shipments quite liberal.
Pork was fairly active, ruling weak
early, declining 15120c on the whole
range, but rallied again 501Oc and closed