Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-12-05
RUMORs OF A SHORT CORN CROP.
Not Enough In the Country for Imme-
diate Wants.
CHANGERS LIVELY IN NEW YORK.
The Union Pacific and st. Paul Combi-
nation the Feature OF Gossip.
CHICAGO.
Special Telegram to the Globe. I

strong and higher, and gave some indica-
tions of booming. The bulls worked
actively to sustain the higher range, har-
ping on everything that would help them,
but prices fell off somewhat and closed
strong and at an advance over yesterday.
Wheat was active but generally easy
and at the close December was about $40
lower than at o'clock yesterday, January
ebout &c lower and May &c lower The
market opened a shade higher than it
closed at 1 o'clock yesterday, and liz
fuenced by the baoyant feeling in corn
and provisions sold up some, but later be-
came dull and weak and followed corn in
the Gown turn, selling off 80 from the
highest point, advanced some and closed |
rather unsettled. The speculative interest |
is csntering in corn and provisions, |
wheat being left in a measure to take care
of itself. On call the demand and offer
ings were liberal. Prices ruled steadier
and trading was chiefly in the May deliv-
cry.
In the market for corn excitement
again run very high. and through
out the session a very unset
tied nervous feeling attended the
operations of traders. At times the ex-
citement and confusion was go great that
trading was extremely difficult. Prices
were very irregular and advanced and de-
clined suddenly, Seller December was
advanced $50, January &c, and May lc
above the highest price paid on Change
yesterday. The advance, it will be seen,
was the greatest for the year deliveries, in
which the shorts became most alarmed.
The shorts feared a manipulated market,
and wanted to cover, and the bull
element assisted the improvement all
they could by advancing unfavorabe
crop reports. Later in the day the ad-
vanced prices brought out an increased
desire to realize, and with large offerings
and less demand prices declined irregu-
larly l1s@21lc for the various futures and
closed about 11ac higher for December,
11sc higher for January, 14c higher for
February and only 3sc higher for May
than the closing figures on Change yester-
day. The stock in store of all grades in
creased about 1851 900 bushels but of No. 2
the increase amounted to 900 bushels as
compared with the last statement. Ship
ping demand light and confined to tie
lower grades.
gentleman remarked yesterday on
Change, 'If had known a week ago
| what know now about the corn crop, it
would have been worth 100000 to me-"
The reports of poverty come in thick and
fast. A correspondent in Grinnell, La.
| says ihs crop in that state is the worst
| known in the last twenty-five years. An
| order came here yesterday from Dubuque
to buy corn, but specifying that it
| must be old. as the farmers of that section
| find their new worthless for feeding and
doubt the value of new corn grown else
where. They have got some old from Ne
braska and Kansas City, but cannot obtain
any more. Kansas and southern Nebras-
ka and southern Illinois have raised sp1eu
| cid crops, but one may we'll inquire as the
| discipl did about the loaves and the
fishes, ''What are they among so many"
There will be undoubtedly heaps Of poor
| corn to sell this winter, and soma
OF it is SO poor that it viii not pay freight
bat merchantable corn bids fair TO be very
scarce next summer if not before. There
were rumors out yesterday to the effect
that some wideawake men on the seaboard
have already laid the keel of a January
corner in this market on the strength of
the poor indications, and opinions are di-
vided as to the depth of the hold they
have on the market for this month. On
call corn was in fair request and offerings
moderately large. Prices ruled
hrmer and 1s@ 4c higher. Trading was
principally in May.
Oats partook of frmness the same as
corn early in the session, and there was an
advance in prices amounting to about
i b@ 5.c as compared with yesterdays clos
ing. Trading was not brisk at all, and the
improvement was merely a sympathetic
one, and when corn sold down the i'm
provement in oats also dropped, although
finally the feeling was steady and
, closed slightly better. Sample lots sold
a little more freely. and were a
little stronger but cannot be said to have
advanced. On call the demand was mod
crate and pricesa shade higher. Trading
vas confined to the December and January
deliveries.
In rye the longs tried to realize to some
extent, and there were fair cash offerings.
} The demand was meagrs and the marke!
was weak The early advance in other
grain prevented prices from going down,
but at the close the market was in suct
condition that it was difieult to do any
business. Ali samples were SLOW. On call the
demand slow and prices 1a9Nc lower
Sales were confined to December and
Frebruary.
QBarley was quite dull. The actual con
, sumptive demand was decidedly dull and {
good deal of cash barley was offered, no
, in store but by sample. Sellers we're at I
} disadvantage They had to accede to th'
views of the few buyers who put in an ap
pearance, and yet were unable to close ou
consignments. No. in store was salabl
at former quotations, being taken agains
I future sales for the purpose OF making
/. carrying charges.
The flour market continued dull an