Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-05-30
THE BULL SUPPORT WITHDRAWN.
Wheat and Corn Consequently Lose
Some Of Their Recent Gains.
PROVISIONS ALONE HELD FIRM.
The Operations on Wall Street Not Re-
markably Brisk.
CHICAGO.
Especial Telegram to the Globe. 7

been some uneasiness lately among the
numerous shorts in pork and lard, and
many have been covering. The frmness
has been almost entirely due to speculative
Influences. Wheat ends the day a cent
and half below yesterday. There were
free sellers on local account and on out
side orders, some of the prominent lorgs
being among those unloading. Excepting
the warm and clearing weather, much 9th
er than which cannot be expected now,
there was nothing in outside influences to
change values either way, and the decline
was due entirely to local manipulation.
On the board trading in wheat was fair
ly active and the feeling unsettled. The
liberal and sharp advance of yesterday |
brought in many selling orders and the
support noticeable then was in part with
drawn. The market was nervous at the
opening, and prices in the first rush to re-
alize were anywhere from 4@Ac lower
than the closing figures on the call board |
yesterday afternoon, soon declined 40 |
35c additional, then became stronger and |
rallied 5000, but again became weak |
under largely increased offerings and fell
off sharply 1@11sc, rallied trife and fin
ally closed So lower for July, 1870 lower
for August, and &c lower for September
than the closing on the board yesterday.
In the afternoon prices ruled rather steady.
The call sales we're million bushels The
statement posted of grain in store here
shows a decrease of 245,785 bushels of
wheat during the past week, but the stock
is still 100000 bushels greater than year
ago.
There is no change to note in the -four
trade. 1t remains pretty much as it has
continued since the first of the month.
During last week the receipts we're 59,136
barrels. A moderate demand has existed,
exporters, as we'll as local jobbers, inquiring
and keeping posted, but for some reasons
their inquiries in most cases amounted to
nothing. The principal reason, no doubt.
has been that exporters found holders ask
ing higher prices than they could pay, and
as the latter, under the present condition
of the wheat market here, have not been
disposed to meet the views of foreign buy
ers, trade has been restricted. Foreign re
ports have not given any encouragement
to shippers, the markets abroad being
quoted dull and easy under continued free
supplies of American flour. The few
sales made to exporters generally COM
prised low grades, these being mainly
sought for at prices ranging anywhere
from, say about S. rs down to 1926. The
supply of these grades has been kept some
what reduced, and the offerings of really
desirable grades have been light. Occa-
sionally a car load or two of either spring
or winter wheat -four of the higher grades
was taken for shipment, but only in ex-
ceptional cases, and then merely to fill
some special order. Local jobbers have
made few purchases, but, as a rule, they
have not shown the least anxiety about
purchasing, evidently carrying good stocks
and not feeling inclined to increase them
Just now.
There was quite general disposition to
sell corn to-day. The receipts were IN
usually heavy again, being TAG car loads,
including seventy-six of high mixed, and
463 of No. 2. European markets were also
easier. Vessels we're engaged to carry
344,000 bushels. The decrease in the
amount in elevators here during last week
was 1,OS4,000 bushels. On the board,
trading was quite active on shipping and
speculative account. The feeling was
weaker and prices ruled lower, Influenced
by warmer weather and the very liberal
receipts. Tomorrow being holiday, lib
eral offerings were also anticipated for
Thursday, and under offerings of cash corn
gave shippers better opportunity to pur-
chase, and trading for immediate delivery
was more active at shaded prices as com
pared with yesterdays pricesIdeclined 4 @
38c below the closing figures on 'change,
and closed within about &c of inside
prices. No, 2 was in good demand anc
sold at 551a q $500 for receipts dated May
% and since, these being preferred tc
regular as they carry into June withou
extra storage, and closed at about 5534c
On the call there was a steadier tone bu
not much change in values. A half mil
lion bushels changed hands.
The oats market was devoid of any ex
element or important demonstration anC
a quiet easy feeling prevailed. ThefllinI
of many outstanding contracts yesterda
checked the demand to-day. Offering
also small. Prices for yesterday RENAME
within yesterdays range, but were go IS
lower ascompared with yesterdays closing
figures. Cash oats in store very quiet, NJ
3 were about &c easier, No. white, how
ever, were wanted for shipment and wer
15@1c better, these sold 6
421l % 43c. While rejected ais
better. Sample lots mixed oats were dul
and slow, but for all grades of white ther
was an active shipping demand and tn
market favored sellers. The feeling wa
steadler in the closing hours.
Rye was frmer. Prices were better a
round, but cash and August showed ii
most improvement. There was a goo
speculative demand. Shipping orders wei
reported light. No. cash was 1c highe
Sample lots slow; some of the usual bu!
ers were out of the market. Future d,
liveries were frmer. Speculative deman
very fair and offerings small. May aboJ