Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-12-11
CORN TAKES A GREAT JUMP,
OTHER ARTICLES ALSO HIGHER.
CHICAGO.
Lspecial Telegram to the Glohe

ing. especis. = 20 shorts, who confidently
expected ano predicted break to-day, bat
as usual the unexpected happened. half
hour before the regular session the feeling
On the open board and in the alley was
very strong and higher prices than SatUr-
day were current. Corn was greatly un-
settled and the excitement surpassed that
of any day since the up turn in prices set
in. The greatest confusion attended trading
and operators to execute their orders, which
at the opening were mostly to
buy, bid over one another, causing
great excitement and it was almost impos-
sible to trade, prices varying about 1e in
different parts of the crowd at the same
time. The shorts were thoroughly fright
ened, for an excuse to cover large buying
orders, aside from the shorts, were also on
the market. The reported unfayorable
condition Of the crops was tho reason as
signed for the excitement, though exces-
sive speculation no doubt has much to do
with it. The receipts were larger and the
market opened from 1c to 115c higher than
the closing figures Saturday, aud finally
closed akout s. higher for December, &c
higher for January and 30 higher for May
than the closing figures on Change Satur-
day. O1 call the market was irregu-
lar and prices 15g1c lowyr.
In tbs wheat pig speculative trading was
unusually active and the market showed
moro life than for some time past. The
feeling was very unsettled, and prices de-
cidedly higher. The market opened 4@
&c higher e1d edvanced l. fc more, then
fell 115c, but again rallied, advanced $8c
and closed stroGg ct an advance of about
2g218c over the closing figures of Saturday.
Receipts were large, aggregating 496 cars.
The shorts were covering freely and the
feeding WAS bullish. Aside from this there
Is gradual change in the public sentiment.
The old arguments which cost the bulls SO
much, and which the best posted men
sincerely believed in, are being rehsarsed
again. The great shortage in the wheat
crop mere and abroad which conservative
men place at 2O,0O0,000 bushels is again
heralded, and with more force than last
summer, and the overshadowing bear argu-
ment of five million too much wheat in
Chicago is getting away before
the demonstrated home consumption in
excess of previous years. These
things will give two sides to wheat from
now on. On call the offerings were liberal
and the demand brisk. Prices ruled irreg-
ular and slightly lower. Trading Was
about evenly divided between January,
February and May.
Oats also partook of the excited, unset
tied state of the grain trade. There was
liberal trading. Fluctuations were much
wider titan customary, and prices ranged
considerably higher. The trade was spec
ulative and The demand was largely from
shorts, who seemed to buy all deliveries
with about equal readiness. The
speculation in the market has
checked tbs shipping and consumptive
trade. Consignments of the better grades
were about all placed in store, leaving only
rejected for sale by sample. Prices closed
24 e. 25$o over Saturdays last figures. On
call OATS wo-e in good request and prices
irregular and slightly higher. Sales were
principally for May delivery.
In the market for rye prices were high
or. Cash and GEAR futures ranged 1T@
l34e ever Saturday S closing, and deferred
futures ranged 2I91o higher. Advancing
markets for other grain excited good
demand, psrGially from shorts and some
what on speculation. Trading was quite
b;iSk ana Ia some instances longs took ad-
vantage Of the Improvement and sold On
raI y-os 1o,
were frmer and 4@15o higher. Trading
was principally IN the February option.
Barley was doing some better for No. 2
cash and future delivery, but more than
usually dull for all lower grades which it
was difficult to obtain at any fair CT ie,atiye
price. Samples were plenty and while the
better and plump grain could be sold
at low rate it was difficult to obtain any
fair rate for the poor or dark. 1t is
claimed that the stock has been concen-
trated in few hands both here and at
other points, parties having bought it for
speculative purposes. On call there was
a fair demand, but prices were easier sales
in January.
Flour is not benefited in the least By the
upIQFn auu GiSheE tE1ces ZOE Wneat, OF Dy
the excitement in other markets. With
buyers scarce for any grade or quality and
shippers Tot advancing their bids from
previous prices, ssles were light
and the feeling in the whole trade was
one OF considerable depression. Rye
-four steady. Buokwheat -four dali and
hardly saIeable at al. Bran and all mill
stuff IN fair request and at firm prices.
In provisions, the marked falling of in
the receipts OF hogs and the material aG-
vance in the price therefor tended to
strengthen the market materially, and de-
cidedly higher prices we're realized on al
the leading descriptions. The market was
greatly unsettled, and prices fuctuated
considerably, being Influenced to some ex
tent by The changes in the corn market
The offerings were free, demand active anc
the volume of business transacted unusu
ally large. Foreign advices more favor
able TO holders, and lari
was advanced Sd, and the easter,
markets were frmer and prices higher