Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-08-21
CHICAGO.
Especial Telegram to the Globe. |

Saturday has developed into certainty,
and there is no doubt that September lard
is controlled. Fairbanks men were open
buyers to-day, and the shorts were very
nervous and bid prices up. The manipu-
lating delivery was forced up to $3.50, or
sc over Saturday, but receded again 2Oc,
and closed firm at $50, slight premium
oyer October. The deal is not re-
garded as a corner, but rather as a little
squeeze, and be careful about meddling, as
the projectors may drop their lard any
day. The best thing to do is to let it
alone. Wheat has not been weak to-day,
although there seemed to be nothing to
support it early, and the later strength is
attributed to the provisions deal, but
even the bears did not sell at these
pricess unless they could see a chance
to force break further on. Lester was
about the only prominent seller to-day.
The stock in store in New York decreased
100000 bushels last week, and much less
than they ought to be at this season with
the fine weather we have had. Corn was firm,
and Notwithstanding the warmer weather
yesterday and to-day there is very little
doing. The directors of the board of trade
were in close consultation from 3 until s
o'clock this evening, in the Fowler
McGeoch lard controversy, but adjourned
until 3 p. m. tomorrow.
On the board business was very quiet.
The wheat pit was very dull ell the morn
ing, fluctuations were confined within a
range of 3S@Kc, and were not sufficient
to stimulate trading. Outside orders were
few, and the local speculative element
did not manifest any particular desire
to trade, excepting on limited
scale. Shortly after the noon hour, how
ever, stronger feeling began to develop
itself, and under a sharp demand and
rather light offerings, prices we're advanced
1@1Ic above theinside. A reported good
shipping demand for wheat and higher
prices for provisions aided the frmness.
The receipts were larger, especially for
quiet feeling. The market finally closed
&c higher than Saturday. There were
431, 800 bushels of wheat shipped out to
day, and the charter provides for 10000
bushels. The receipts Of spring wheat
we're ~ cars. There are rumors of very
heavy charters not reported. Winter wheat
ruled steady and firm under good de-
mand, shippers taking the bulk of the
offerings. Some little speculative inquiry
also prevailed. The receipts were con-
siderably larger, the inspection into store
amounting to $50 cars against 80 Satur-
day.
A little better business was doing in -four
to-day. During the past week this market
has ruled quiet, with business less than was
expected. Quite a perceptible improve
ment was shown ia the demand, but the
scarcity of desirable grades and the ad-
vanced prices asked by millers gave q set
back to the trade, and we were as far off
as heretofore on selling, and there is little
prospect for any improvement right away.
The home trade were looking about and
making good bids for the finer quotations
of winters or springs, or that were suitable
for families or bakers, but these qualities
were scarce and at the close held 25c per
barrel higher and checking business.
Shippers and exporters were looking after
good bakers stock, and for the
lower grades in shipping sacks, and
were making good bids for the old wheats,
but were finding quite scarcity Of desir-
able grades, and the higher freights and
advanced asking prices at the close of the
week took all the trade away, or for every
thing but the low grades or the off lots.
Rye flour was quoted firmer at $3.25@3.50
per barrel for good to choice brands, and
the stock has been considerably reduced.
Bran and all millstuffs were doing better
and toward the close an advance was estab-
lished, with the supply light and the de-
mand holding up well, with bran bringing
81. 25@12 per ton, and other kinds at
relative prices.
There was very li.tle doing in the corn
pit, trade being in fact almost lifeless
during most of the session. Prices did
not vary materially from Saturday. range,
but ruled rather stronger toward the close.
The receipts were liberal, the inspection
into lstore being SCI cars against ,629
cars Saturday. Foreign advices continue
favorable, quoting firm markets. There
was moderate shipping demand chiefly,
however, for rejected. Prices early in the
day we're lose lower, rallied later 20
$50 and ruling quiet and steady, and
finally closed &c higher than Saturday.
There were 100000 bushels shipped to-day,
but the charters we're only $1,000 bush
els.
The oats market was quiet. Speculative
trading WAS light. especially on outside
account. The market was tame and
prices were slightly easier than at tbs
close of last week. a moderate shipping
business was transacted. This was con
Quoted on the sample market, and sample
oats were generally steady with the
better grades of No. white slightly i'm.
proved. Trading in cash oats on the reg
ular market light. Sales were made al
255S@25Esc for No. 2, and this was about
| 15c lower as compared with Saturday:
market. During most of the session the
futures were dull and easy at 18@ &c de
| cline. Late in the session the demand i'm