Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-05-08
PRICES IRREGULAR YET HIGH.
A Considerable Augmentation of the
Price Of Provisions.
WALL STREET TRADING INACTIVE.
Stocks Held Firm, but a Small Bust
ness Transacted.
CHICAGO.
lspecial TeIegram to the Globe. l

not the strength it possessed during most
of last week. 1t now takes batch of pretty
dismal crop reports to start prices upward.
Should the monthly report of the govern
ment agricultural department, which is to
be issued Wednesday, prove more favora-
BILE than is now thought, it will precipitate
a break. To-day opened warm and bright
and what advices were received favored
the bears. Consequently there were few
offerings to sell wheat during the first
.lour, and values were weak and lower.
Short scalping traders came to the rescue
before noon and checked the decline.
Nearly all the markets were active, unset
tied and irregular. Corn and oats follow
ed the leading cereal. Rye was a trife
lower but firm, and barley showed hardly
any life. Provisions were active, pork be-
ing at times somewhat excited, closing
considerably higher than on Saturday.
In the wheat pit on the board there was
only a noderte business transacted, and at
times a quiet feeling prevailed; outside
orders were not as numerous, and the
local speculative element did not manifest
showed an inclination to watch develop
ments. The receipts were fair and the
weather was warm and clear. The market
opened weak and prices earnly ruled from
A@Ac lower than the closing figures on
Saturday, ruled quiet for awhile, and then
steadily advanced under fair demand
about 1@118c above inside prices, ruled
a. Oh IN
for June, 38c higher for July, and &c
lower for August and September than
Saturday. These values held firm during
the remainder of the day. July was the
future, most traded in. Of under a million
bushels sold on the call over half was of
this option, while mot a bushel of
May was reported sold and
a very little June. The other grades of
wheat were inactive, but nominally IN
changed. Hardly sale of winter wheat
was made.
Flour was quoted steadier, and there
was an improved inquiry for nearly all
grades, with the quantity in stock light,
and dealers having few lots to offer, while
the strong wheat market giving promise
of more buyers for the stock on home
and shipping account. Rye flour was
holding steady. Bran and all millstuffs
were plenty and selling lower at $1,000 q
81 per ton for bran, and relatively for
other kinds, A week ago bran sold at
$13.5O@$14. The higher prices for wheat
are favorable to an advance for -four, but
it is thought this advance is only tempo
rary, and after these bullish markets are
over, that there will be drop back, and
the heavier buyers are holding off until
ture. The stocks are not large for the
West, but heavy at the East and in Europe
and there has been at no time any anxiety
to buy or certainly to pay any higher rate.
The home trade has been taking more
than usual, being out of stock and on the
market to replenish.
In the corn pit a rather quiet feeling
prevailed. Early in the day the market
was weak and prices from "a go lower,
but later under fair speculative demand
the feeling became stronger, and prices
rallied 38@78c, fiuctuated, and finally
closed about &c higher for June and 18c
better for July than the closing figures on
'change Saturday. The receipts were
larger and the weather bright and warmer,
which accounted for the early decline.
Shippers bought fairly at reduced prices.
Speculative trading only moderate, main
ly on local account. Receipts datedto-day
commanded a premium of about $8@15c
over regular receipts, as they carry into
June for one cent storage, while regular
receipts cost 15c storage. There
was no particular change from
l o'clock quotations during the
afternoon. Sales on call were moderate,
being just over half million bushels,
largely for July delivery. There is yet
some talk over heated corn, and fears that
of the warm weather. The large stock
here and meager outside orders aid in
making the feeling one of doubt and I'M
certainty.
Oats were quiet and somewhat unsettled,
with prices generally shade lower on the
board. At one time the futures ranged
1a@1c under Saturdays Fl cures, but there
was better feeling later. Owing
to large receipts there were
liberal sample offerings. A good many
round lots sold for May were evil
IDENTIFY for immediate delivery. Before 1
O'Clock the decline was almost entirely re-
covered, and before 3 o'clock more than
wiped out, call values being 40 Hsc better
than board. At the end of the day prices
were holding firm under brisk inquiry.
AS compared with Saturdays final quo
tations, rye was about 70 lower to-day.
A fair speculative demand existed, how
ever; the offerings were light and the mar
ket ruled firm at the decline
Nothing was doing in barley. No
material change was noticeable in values,
but the offerings, though small, rather ex-
ceeded the demand.
Considerable interest was manifested in