Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-11-07
CHICAGO.
Especial Telegram to the Globe. !


CHICAGO, Nov. 6.-The leading markets
we're frmer and higher on change to-day
owing mainly to speculative influences.
In the market for wheat there was fairly
active business, with prices somewhat IN
settled and near the end of the session
there vas a sharp advance and at the close
December was about 1c higher than at ]
O'Clock yesterday, January 1c higher and
May 1c higher. The market opened weak
and lower owing chiefly to clearer weather,
soon fell 1a@ 56c below yesterdays closing
then rallied 1a@28c, again fell PC, but
finally hrned up and near the close became
considerably excited owing chiefly to
higher cables, and sold ~ over the low
est point, changed some, closing toierably
steady. The shipments were small and
the stock in store showed a slight increase.
There was no news from New York-no
market to-day on accuont of election.
Lester bought heavily on the decline and
sold again when prices advanced, thereby
realizing handsome profit. The shorts
nov see the need of covering and all offer
ings find ready buyers. As was expected
ten days ago, values ere on the gain. At
that time the bears were in full power and
the bulls were sneered at. The situation
is unchanged now. Is Is the same also
as when wheat was selling at $1.15 with
this difference that what then was only
theory is now an established fact. The
difference lies in a return from panic to
sober common sense. The scare is over
and the extreme depression brought about
by The McGeoch failure is likely to be fol-
lowed by the other extreme. Wheat has
already advanced 615c from the lowest
point Of October. STILL wheat may fall
back some unless kept up by corn, yet the
market has beyond doubt seen its low
est point, and will with slight
occasional depressions continue to
advance, while war between France
and China would not necessarily influence
our prices, still there are other influences
which viii tend to cause a boom. The de-
crease in English shipments from Calcutta
and Bombay show that the foreign market
is not independent of the American sup
ply.
Corn is very strong and full of uncer-
tainties. There is a chance for violent
changes today. 1t was quiet early in the
session and easier, selling off go from
yesterdays closing on November and 10
on December, being influenced by the fair
weather and sympathy with the weakness
In wheat, but later, when the wheat market
tirmed up, corn advanced in sympathy,
and TRADE become comparatively brisk.
November selling up 10 from the lowest
point previously touched, and December
10, changed some, and at the close Novem-
Der was about 11Sc higher than at O'Clock,
yesterday, December 56c higher, year IL
higher and May go higher. A reducti on
in the stock in store here of about 100000
bushels during the past week was an
nounced and tended to firm the market.
Vessels were engaged to carry $4,000
bushels.
Cash oats were 4 c lower. The market
was easier and MG4c lower all round
early on account Of other markets being
weaker ard partially because u good
many oats were delivered yesterday on
November contracts. Late in the session
when wheat and corn advanced, the spec
ulatiye market revived, but cash remained
the same. The sample market was steady,
with not much change.
Rye was firm and prices were advanced.
Longs were backing the market TO some
extent Cash rye was also taken on &C
count of shippers and private adyices from
New York we're said to be a little better,
though no public reports were received.
The arrivals were light. Cash 40. . sold
at = c advance.
Barley was quiet. No. was trife firm.
or. Only eight cars were inspected No.
out of total inspection of sixty-six cars.
Owing to so small receipts q firm market
is easily maintained evan with higher
demand. Ia store No. 2 sold sparingly,
and few other grades were In fair supply
and offered almost altogether by sample.
The demand was very moderate. For
choice grades prices were tolsrably steady,
while common remains dull and weak.
The flour market was without shsnge, in
there being quite COED call for better
family and bakers brands and at o firm
price to rejected and slow for shipping
bhoNNo, ohN LUZ tu0Eo udS OoSu llttIe
demand for some time.
Bran and sll millstuffs were selling well
in light supply.
In the market for provisions q fair bust
ness was transacted, but largely on local
account. The receipts OF hogs were quite
large, aud the quality little better, which
encouraged spectators to increase their
offerings for future delivery. Prices ruled
comparatively steady early in the day, but
during the middle OF the session a weaker
feeling prevailed and lower prices were
submitted to On all the leading
articles for future delivery. The
shipping demand vas fair but
buyers were slow to meet the views Of
holders and ss stocks are generally light
sellers are not pressing their property on
the market. Foreign sdvices indicate a
steadier feeling in that quarter and lard
was quoted pence higher. Reports from
domestic markets were mesgre aud of lit
tie importanos. Tbs receipts OF product
were moderate and the shipments of all
kinds quite large. Pork was moderately
active and willis stronger at Aipsa .vs-