Daily globe., 1883-05-25
WHEAT LEADS THE MARKET.
A Stronger Feeling in Corn and Other
Leading Cereals.
PROVISIONS REGAIN LOST GROUND
Considerable Less Activity Among Wall
Street Spectators.
CHICAGO.
Especial Telegram to the Globe. |

large business was done and something
like the old time life to be seen on change.
Late yesterday afternoon little scare was
started among the shorts by dismal res
ports concerning wheat prospects in east
ern Europe. This morning the usual food
Of advices concerning the home crop were
2 trife more unfavorable than usual.
Trading opened on the board at figures
considerably higher, and the bulls saw
their opportunity. Lindblom was again a
heavy buyer, as was Kent and others of
the old crowd. There was better supply
of orders from outside parties, and plenty
of tailers who was anxious to follow the
lead of the stronger operators. This
threw the army of shorts into panic, and
they rushed into the market indiscrimina-
teIy to cover. The feeling became quite
excited the bears being badly fright
ened and at the close of the day prices
had been bid up as high as SIC on
some futures. There was nothing in
the character of outside influences to boom
prices except such rumors as the manipu-
lators were disposed to circulate, but there
was no lack of these. Wheat was reported
dull and heavy at Liverpool. The st.
Louis market, however, was more buoy
ant.
Corn was firm in sympathy with wheat.
The warmer weather had a tendency to
check any pronounced bu II movement, al
though it did not prevent a fair advance.
The charters amounted to $4,000 bushels.
Besides there was large quantity Of corn
chartered on steamers to arrive.
Oats were weak and provisions were do
ing somewhat better.
Or the regular board trading in the
wheat market was active and sharp ad-
vance was established in prices. Buying
orders were numerous and the short inter
est bought freely. The receipts were Small
and foreign markets were quoted dull, bpt
the market was Influenced entirely by local
speculation. 1t was feared that considera-
ble wheat, especially for deferred futures,
had been bought by some strong
parties, anG this alarmed the short
interest who bought freely and aided in
causing the sharp advance. The market
opened 58@&Ic higher, and under an ur-
gent demand and only fair offerings,
prices we're advanced 249258c per bushel
for the various futures ABOVE the opening
figures, fuctuated and finally closed 22lc
higher for July, SC higher for August, 318c
higher for September and 8 &c higher for
October than on 'change yesterday. On
the call board there was no diminution in
the demand, but there were plenty of sell
lers. a further advance of 4@12c was
gained. The transactions on the call were
unusually large, over 100000 bushels,
and 100000 bushels for July delivery
changed hands at $1.144@1.1515. The
bulls predict further appreciation to-
morrow, while the bears claim there will
be a reaction. Other grades of wheat
were sympathetic, No. 2 spring selling up
&c and No. 3 spring 1c. Winter was also
higher.
Flour showed little change.
In the corn market strong feeling pre-
vailed and prices averaged higher than
yesterday. There was a good speculative
demand, and good shipping inquiry
also existed. The offerings were not large,
and operators rrther inclined to trade
cautiously. The receipts were moderate.
Shorts were rather free buyers. The firm
ness in wheat partially tended to strength
en- the feeling in the corn market. The
market opened about lie higher, which
improvement was followed by a further
advance of : c, ruled easy, fuctuated, and
finally closed 94@ Bc higher than the
closing figures yesterday. Sales on call
were small, only $4,000 bushels, the lead
ing market engrossing attention.
The cash market for oats was dull and
lower. The arrivals were largely increased,
and there was also a surplus of sample
lots. Prices for these were weak and
Ia 2cper bushel lower. Even at this decline
all could not be sold. The in store cash
market remains quiet and not
much changed; speculative trading was
more active. The market was also rather
unsettled and prices fuctuated considerably
varying both above and below the closing
quotations of yesterday. Up to noon
good deal of interest was shown in the
market, trading was fairly active and
prices fuctuated so as to range both above
and below yesterdays closings. The mar
ket, early in the session, was in fact a
shade better. Late in the session the mar
ket was quiet and shade easier.
Rye was strong. The prevailing feeling
in other markets exerted a favorable in
fuence and checked the offerings. Ship
ping orders were light, but the speculative
demand good. Prices were 1a@4c higher.
Nothing was doing in barley.
There was fair business transacted in
the market for hog products to-day, and a
hrmer feeling prevailed during the greater
portion of the session. The demand on
speculative account was quite ac-
tive and the offerings were
free. Prices were advanced on all the
leading articles, and improvement was
moderately well maintained. Shipping
demand continues light, and orders are
chiefly for small quantities. The receipts
of hogs were fair, but prices ruled lower.
though it had very little influence on the
course of the market for product. Foreign
advices indicated weaker feeling in that