Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-07-04
A SLIGHT RALLY.
A Successful Effort to Hold Up Corn
Helps Other Grains,
AND PRICES ADVANCE ALL AROUND
With Lively Dealing in the Leading
Articles.
STOCKS STORED AT LAKE PORTS.
And Shipments and Receipts as Com
pared with Last Year.
STOCKS DULL, BUT PRICES STEADY
And General Confidence Felt in an
Early Revival.
And Shipments and Receipts as Com
pared with Last Year.
TOGKS DULL,BUTPRICES STEADY
And General Confidence Felt in an
Early Revival.
CHICAGO.
ISpecisl Telegram to the Globe.

CHICAGO, July 3.-The weakness in grain |
developed yesterday afternoon was re-
newed this morning at the opening, prices
year. Offerings were very liberal owing
TO exhausted margins, and it seemed posi- |
bic that the tendency would be stin down
ward, but some strong parties commenced
buying corn at the reduced prices which
tended to steady all grains. The same
parties were moderate buyers of wheat, and
there was a reaction all round, wheat closing
somewhat below where it did on the call
yesterday and corn trife better.
Chicago elevators begin the month con-
tanning 6,079,401 bushels of wheat, 1881,
$50 bushel corn, 1854 bushels oats, &C.,
721 bushels rye and 28,035 bushels barley,
making a grand total of 1O,O69,091 bush
els against 10,427 1897 bushels week ago,
and 3,698,001 bushels at this period last
year, while the stock of flour in Chicago
is 1864 barrels against $4,000 barrels a
month ago and 60,055 barrels at this
period last year. Milwaukee warehouses
are stored with 1,925,12S of wheat, 1885, 66
bushels corn, 1884 bushels oats, 5O,552
bushels rye, and 198,O97 bushels barley.
The stock of provisions in
Chicago include 204,350 barrels pork,
193,S0S barrels being winter packed, 49,
572,311 pounds of short rib middles and
109,406 tierces of prime steam contract
lard. N. K. Fairbanks & Co. report the
stock of lard in this country at 166,419
tierces, of which 1913, 900 are contract. The
stock one year ago was 208,73O tierces, of
which 1851 were contract. The stock of
lard in Europe and in transit is reported
at $4,000 tierces, against 10000 at this
time last year.
July wheat sold at 97114c this morning
and August at $500. Very little business
was done in the former futures except in
the way of transfer to the latter at 215@
238c discount. Generally the market was
active, and large amount of business was
! transacted. especially during the early part
of the session of the board. Opening Il q
! 115c lower than at o'clock Monday, with
very liberal offerings, the shorts began to
buy freely, and prices advanced 1M@1Mc
above inside figures, receded a trife, but
again rallied, and closed firm ia &c low
er than on Change yesterday for August
and September and sc lower fer October
Last sales of July were at $500. At least
a half million bushels of No. 2 wheat
will be shipped out of here
by Friday, and this may cause strong mar
kets after the recess, the large stock before
being the great bugbear which the bears
have used to the best advantage. Fifty
one cars were received to- day, 5000 bushels
reported shipped by rail, and vessel room
engaged to move $4,000 bushels.
The trading IN corn was large, both on
| speculative and shipping account, with the
bulk of the speculative business transacted
early in the day. Values at the opening
were "a 58c lower than at the close of the
call yesterday, but under a sharp demand
from parties who wished to even up
to their trades before the brief vacation
prices were advanced 11s@11Sc. At this
I advance the speculative demand slack
ened, and reaction of about 115c occur
red, followed by another rally. The close
was 18@4c better than on change yes
| terday. The charters there were for half
million bushels, the largest of the sea-
son. Four hundred and thirty -four cars
were received and 900 bushels shipped
by rail. Had it not been for the shorts
becoming buyers to-day, it is probable the
large receipts, fine weather, and free
offerings of the bears would have forced
prices lower. At first the crowd was
disposed to fill the demand of the
buyers, but finding their wants hard to
supply they commenced to get very ner-
vous, and made considerable effort to get
| back what they had sold.
TIE market was steady for cash oats.
! The receipts were smaller and there were
light offerings. Seventy-two cars were re-
ceived. Trading on the speculative market
was moderate early but there was little
doing during latter part of the session. At
opening there were lew buyers, weak feel
ing prevailed, and prices ranged much
lower, but when the light receipts were
posted there was quick and substantial
improvement, especially fer July, which
ranged above the closing quotations of yes
terday, and for the deferred futures there
was partial reation.
Rye opened 1920 lower than it closed
on the boa I'd yesterday, but the major part
of this decline occurred on late call yes
terday. There was an absence of orders,
and the downward tendency wasalso caused
by the unfavorable Influence which
lower market for other cereals exerted.
There were no offerings of barley, and,
owing to extreme hot weather, maltsters
have withdrawn from the market alto
gether.
Only moderate business; was trans
acted in the market for hog products, ye
the feeling was somewhat unsettled and
prices irregular and lower. The market
opened easier and under the influence of
moderate inquiry prices were gradually
| advanced to the outside range Later