Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-05-10
W ILL VI ILL uA1l AU4
Doubt on the Point Unsettles the Chi
cagO Grain Markets.
ALL CEREALS VERY IRREGULAR.
Wheat, Corn and Oats Lose a Point or
Two in the Dealings.
PROVISIONS ALSO SOME WEAKER.
UnfaYOrable Reports from the Growing
Crops the Cause.
PROVISIONS ALSO SOME WEAKER.
GREATER ACTIVITY IN STOCKS.
st. Paul Leads the Adyance-NOrthern
Pacific Booked for Future Boom.
CHICAGO.
Especial Telegram to the Globe.l

CHICAGO, May 9.-After the usual numer-
Gus Quotations the bears scored decided
advantage in the grain markets to-day.
On change prices were we'll maintained,
but in the afternoon wheat broke sharply
under heavy selling by prominent longs,
who appeared to be unloading. The sus-
tanning influence of the morning was the
report of the secretary of the Illinois State
Agricultural society showing an average
condition of the winter wheat for the
whole state of about 40 2er cent. as com
pared with the same time last year, or a
probable yield of p 100000 bushels against
100000 bushels in 1882. This had
stimulating effect on prices, which ad,
vanced in the face Of further de cline in
values IN the English market. Corn, as
usual, closely followed wheat. The re-
ceipts showed decrease of 119 cars from
yesterday, which helped to the early firm
ness.
On the board to-day the balance of trad
ing in wheat vas fair and the fee ling de-
veloped was somewhat unsettled. The
market opened active and rather strong,
with prices early from 4c to &c per bush
ell higher, influenced by the unfavorable
crop reports. The advance, however,
brought out free speculative offerings and
prices became weaker, declining &c and
%c per bushel, rallied later again on in
dications of wet and stormy weather and
better demand, fuctuated and finally
closed about 8 a &c lower for June an d
July and &c higher for August and Sep
tember, than the closing figures on Change
yesterday. The receipts were smaller on
the afternoon call. There seemed to be a
general disposition to take advantage of
the momentary frmness to unload; hence
rush of offerings which pounded down
values = Gle below those current at
o'clock. Nearly a million and half
bushels were sold on call, over half mill,
ior for July delivery going at $1.1558 @
$L15E8. There were plenty of buyers at
The decline.
Very little was doing in -four, there
being no change in the views of either
dealers or buyers. Bran and mill stutfs
were doing somewhat better, with the
supply lighter and freer inquiry, bran
selling mostly at $11 per ton.
In corn Oh the board very fair specu-
lative and moderate shipping business
was transacted. At the opening the mar
ket was shade stronger, and prices &c
higher, but under free speculative offer
ings and clearing warm weather prices
declined 55@24c per bushel. Later it
ruled stronger again under a better de-
mand and more threatening stormy wealth
er, and rallied go, then fuctuated, and
finally closed about the same as the clos
ing figures on change yesterday. The
receipts were smaller, and foreign advices
quoted steady market. No. 2 in good
demand. Rejected dull and unsettled,
with sales at 43@48c, prices depending
upon location. For some locations it was
almost impossible to find buyers, and
only large reductions in prices
would induce parties to buy. The after
noon decline amounted to 4@Hc. A
lively business was done in this reduction
on the call, the sales aggregating million
and quarter bushels, almost entirely of
June and July, three quarters of million
sold.
Oats were quiet. Both the speculative
trading and shipping demand were only
moderate. Cash il store oats were held q
trife higher early, but the sales were too
small to be of much Importance. The May
and June futures were particularly irregu-
lar. Very little change in values had taken
place at the close of board trading. The
afternoon decline was 14@$5c.
Rye was weaker, to-day, and broke la
l12c. There were fair cash offerings, and
the offerings on speculative account, espe-
cially for June delivery, were also in
creased. The demand was rather re-
stricted.
Barley was dull, and so generally neg
lected that the market was nearly nomi-
nal. Sample lots offered found slow sale.
and the in store market was bare of both
demand and offerings.
The offering of hog products was quite
free early in the day, and prices gradually
receded to the inside range. During the
latter part of the session the market ex-
hibited stronger feeling, and portion
of the reduction was recovered. Local
operators appeared to be selling quite
freely, while the orders to purchase on be-
half of outside parties were liberal. Ship
ping demand moderately active. The re-
ceipts of products were fair, and the ship
ments only moderate. Foreign advices
were without material change, and the
Eastern markets favored buyers to some
extent. The demand for pork was fairly
active and the offerings free. Prices were
tirmer early, but gradually receded 15@ 20c
about the middle of the session. Toward
the close they rallied 715@1Oc, and closed
steady. Cash in fair demand and steady.
The afternoon easiness caused figures to
be again shaded 5g715c. The offerings of
lard were quite large during the early part
of the day and prices receded 1O@15c per
100 pounds with free sales. Later there
was rally Of 2115@ sc: after board trading