Daily globe., 1883-07-16
The Tone Of the Chicago Markets
Greatly Strengthened.
ANOTHER ADVANCE IN WHEAT.
Corn and Oats Partake Of the General
Bracing Up Process.
PROVISIONS ALSO SOME BETTER.
A Field Day for the Bears on the New
York Stock Exchange.
PROVISIONS ALSO SOME BETTER
CHICAGO.
Especial Telegram to the Globe.I

ruling higher most of the day aud closing
not far from yesterday. The one feature
of the wheat trade was the covering of a
million bushels of August shortage by
Adams. The best houses in this trade are
inclined to think the future of prices will
depend greatly on the movement of the
new crop. Should the farmers hold off
for better prices and not market freely
then higher figures will surely be realized.
The result Is awaited with interest. To-
days receipts in st. Louis from the new
crop were fifty cars, and it is learned
arrivals will soon increase. At a CORES
pOnding time last year the movement was
decidedly larger. Corn was hampered with
larger receipts and smaller charters The
close of the week has been welcomed by
the provision trade, who trust that they
may never experience such a run of ad
verse influences as have been on the
carpet since McGeoch's failure
month ago, adulteration, rumor upon ru-
nor, failure at home and failure abroad,
canards, roorbacks and finally yellow
fever, resulting in disastrous and unpar-
alleled decline, which, at last, they think is
checked. The market opened with lively
buying, and September pork readily
brought $14, but parties received news
from New York of the spread of -four,
afterwards contradicted, and Singer &
Armour both sold October pork freely
There was quiet business in wheat on
the board, with prices changing back and
forth frequently, but moving within a
range of &c, averaging, however, consid-
erably higher than yesterday. At one
time values were &c above the highest
point reached on Friday, but afterward
became quite easy and fell off irregularly
&c, improving again, fuctuating, and
closing about ~ better than on call the
previous day for August and September,
while October shows little change July
wheat ranged at $1@1.OOI, the last sale
being at $1.0O16.
There was a fair call from the city trade
for the finer brands of flour to-day, ana
some few shipping and export orders, but
the limits are low and have to be met by
holders in order to move the stock: hence
the market continue quiet and trading
very light. Bran ana all milIstuffs are
selling well and holding fra.
Corn opened firm and sold up Ia $8c
over the closing figures on change yester-
day, but the improvement caused free offer
ings, and this fact, together with the report
that more hot corn had been posted in New
York, produced good deal of weakness.
and there was steady decline OF sc.
Later, in sympathy with the Improvement
in other markets, corn advanced 15c and
closed tolerabiy steady. There was not so
urgent a demand for cash corn, due chiefly
to the fact that freight room is scarce and
there is difficulty in getting it forward.
At.the close prices were 10 38c lower than
at the close on yesterday afternoons call,
52c being bid for August. The highest
and lowest quotations of this future were
51I and 5213.
At the opening on change the oats mar
ket was slightly better, and for while the
tone was a firm one, but there was q break
later, and dullness prevailed during the
latter part Of the session. Nearly all fu-
lures closed slightly below yesterday. The
offerings of samples were in excess of the
wants of the trade, and lower prices were
accepted to close out AMI clean up. July
oats closed slow at SAC, margin of sc over
August, and within sc of the inside quota
tion of the day.
Rye was somewhat more lively to-day,
and higher prices were ruling, with good
call for cash and all futures selling at a
good appreciation. August brought 5715c
Barley was neglected. There was moth
lag doing, and 1t is impossible to give
prices of any kind. There is no specula-
ton whatever, and the few cars of cash
offered from day to day go to the sample
market and sell very low. Near the close to-
day there was some inquiry as to the new
crop, and new No. 2 September was of
fered at 75c.
The provisions market to-day was COM
paratively quiet, its fluctuations being
confined within rather narrow
range. Sales were made at prices averag-
ing some higher than those current
sterday, and at the opening the feeling
WAS quite firm, the receipts in hogs being
light and prices considerably higher. But
the air was full of rumors and some feared
yellow fever, Notwithstanding dispatches
received contradicting the reports of the
disease at New Orleans. Still, the rumors
were sufficient to cause weakness and de-
press values, and the closing figures were
little different from those current at
the close on change yesterday. The ship
ping demand was only fair, but reported
transactions do not represent all the sales
made. Pork was only moderately active,
and early in the day was firm and higher.
selling up 25@3oc but reacted 3715c under
fever rumors, became stronger and closed
at prices just a turn dearer than those cur
rent at the close of change yesterday. The
shipping demand was quiet, and July sold
Sc under the August option.
Just moderate business was transacted
IL lard. Early prices were stronger but !