Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-01-26
CORN INSPECTION TROUBLES.
IL PROVISIONS SOME HIGHER.
CHICAGO.
Especial Telegram to the Globe l

ing week. brisk influx of buying orders
turned the tide, and the movement gained
strength until the close. Before the after
noon was over both wheat and corn had
fully recovered, and sold where they did
before Tuesdays break
In the wheat pit on the board, large
speculative business was transacted, and
decidedly stronger feeling was developed.
The market opened quiet and ruled steady
early in the session, prices
varying but slightly from the
prices current at the close of
Yesterday, but shortly before noon, under
an active demand and very limited offer
ings, prices started on the up turn, ad-
vancing rapidly. Buyers found it diff
cult in filing buying orders for awhile. In
all, prices advanced 58c above inside fig
ures, then fuctuated and finally closed
about 11l9135c higher than the closing
figures on change yesterday. This ad-
vance was added to during the afternoon,
May closing at $1.O9. Spring brought
better prices to-day. Although the demand
was limited the supply was even smaller.
Winter was in good request and firm.
Flour was more quiet and trading con-
siderably reduced, with the heavier buyers
holding off and refusing to purchase, or
having their orders greatly reduced. On
the other hand millers are asking frmer
prices and are refusing to sell unless their
demands have been allowed, and this has
kept from any fair sales for some days.
Rye -four hardly as firm. BuckWheat -four
was doing quite well. Bran and all mill
stufs are holding at firm prices.
In the corn pit trading was quite active
again to-day, though at times quiet feel
ing prevailed. Fluctuations we're confined
within a moderate range, but prices sub
iect to frequent changes within the estsb
Iished range. The receipts were fair, the
shipments light, and market advices from
abroad were indicative of an easier feel
ing. The market opened quiet and steady,
but later in the day, under an increased de-
mand, a stronger feeling was developed,
and prices were advanced 1@11ac for
the various futures above the lowest prices
reached, receded a tritie, ductuated and
finally closed about a higher for January,
1Sc higher for February, 2sc higher for
March, and 1c higher for May than the
closing figures on change yesterday. No.
3 corn was in fair request and car lots sold
at 6914c. Rejected in fair demand, and
sold at 4715c. New mixed in good request
and closed at 49c.
On call the demand was more urgent and
better prices were paid. Almost no January
corn was offered during the day, and trad
ing was confined to the longer features One
lot of 5000 bushels January was sold on
the call board and brought 6915c. At the
close zoe was asked, and sellers were max
ing no concessions. A good deal of Feb
ruary delivery changed hands at 1880,
and 100000 bushels of May at 5814c,
581ac, the outside being the closing price.
The corn inspection trouble still goes
on, and viii undoubtedly continue till the
end Of time. In vulgar parlance each side
is looking for the best of it; give the or
dinary man & chance to buy No 2 at new
mixed rates figures, and he will do it
everytime and pat himself on the back as
smart fellow. The inspectors stand be-
tween two fires, and being positively un-
able to please all parties, go about their
work quietly and do it to the best of their
knowledge. That there have been some
few errors of Judgment there is no doubt.
An operator said yesterday that no man
on earth could by any possible means dis
6inguish between No. 2 and new mixed
corn when all grain arriving here has been
in frozen condition. Then, again, another
man went to st. Louis after corn, and af-
ter buying the best No. 2 he could find in
the elevators there it only graded new
mixed here.
The receipts during the first three weeks
of this month were $500 cars or 100000
bushels less than during the same period
of December, and those who are fighting
the inspection claim the reason is its un-
fairness has discouraged the Kansas
and Iowa shippers and diverted the grain
to st. Louis and other points.
Perhaps the rigidness of the
inspection may have kept a few car loads
away, but it must be remembered there
have been several other influences at work,
and it hardly stands to reason that the
shipper is suffering very much when new
mixed, as the larger percentage of the
new crop is rated, is selling here for the
same price that No. brings in st. Louis
while what little does rate No. 2 nets 15c
more, extra freight charges deducted.
Oats to-day were steady and a
fair speculative business was DONE
The feeling in the market
was governed a good deal by the tone OF
the corn market, and when the latter
advanced prices were also shade better
than yesterdays closing quotations. Cash
oats we're quiet and supply light. Car lots
of No.. 2 sold on the regular market at
371ac and these were not changed. Sample
lots were quiet. Shippers were only filling
special wants, and local buyers bought
only for actual The supply was
light and holders remained quite firm.
For the future deliveries there was