Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-05-16
Duliness the Characteristic Of the Day
on the Chicago Board.
WHEAT AND CORN AGAIN LOWER,
No Disposition to Trade to any Extent
by Large Dealers.
PROVISIONS SOMEWHAT EASIER
Nothing of Special Interest in Stock
Transactions.
CHICAGO.
Especial Telegram to the Globe. I

on change, there being not enough bust
ness done to sustain values. :. here was no
particular pressure from the bears or any
great anxiety to sell, but the markets lack
ed their accustomed support and there
being nothing to prevent it prices gradu-
ally receded all round. The weather
had some influence undoubtedly, being
bright and warmer. The parties who
control the wheat and provisions markets
have being very quiet the past few days,
not being prominent either as buyers or
sellers. There is no change in their posi-
tions, and undoubtedly they will move one
way or the other very soon. The "crowd'
and the country" the two great elements
in grain speculation, are gradually becom-
ing more bearish. Some shrewd operators
believe it is the policy of the bull leaders
to allow values to drift downward as they
will, and then commence an united raid on
the crop of shorts which will speedily force
prices up again. 1t is certain Armour
would not without struggle permit the
wheat market to lose its strength as it is
now doing unless he had some end in view,
If he believes in his own estimate of the
next crop it can make little difference to
him how cheap wheat sells, but
if the government figures are correct it
might be possible he would like to unload
a portion of his burden, and he could not
do this on falling market. He could not
have sold hundred thousand bushels to-
day, and the fact being known, without
breaking the market.
The first wheat of the season of 1873? was
received here from Americas, Ca, to-day.
1t was a small parcel and letter accom-
panying it explained that this wheat was
raised by Leonard Parker, in Summer
county, Ga. 1t was planted the first week
in December, on common red land which
has been in cultivation for forty years. 1t
was fertiliZed with ten bushels of cotton
seed and 100 pounds of kainit sown broad
cast per acre. The average yield was
twelve and onehalf bushels per acre.
There was no extra preparation of the
land, and the manure and wheat were all
sewn on the land and plowed in with a
One-horso Plow, the.land not having been
previously broker. It was thus planted to
see what it would produce with inferior
manuring and preparation. Mr.. Parker
feels sure it will yield from thirty to forty
bushels per acre. The wheat was cut May
,, and threshed May s. On account of a
late spring it was two weeks late this year.
On the board of trade to-day wheat was
hardly moderately active and ruled easier.
The recent published estimates of the
crops are more favorable than heretofore,
and had tendency to weaken the conf
dence of those who have been operating
on the supposition that the harvest this
year was to be light one, and there was
less disposition to purchase and more
freedom in selling. Thus while there was
little strength early it soon weakened
under free offerings, and finally fell about
&c from the highest point and 1c below
the closing figures at 1 o'clock yesterday,
improved trife, then fuctuated some, and
at the close July was sc lower than yes
terday, August Is lower, and September
lie lower. The receipts were larger to-day;
in the afternoon there was triie more in
quiry from buyers who took just over. a
million bushC,f en- the call. Winter and
spring whea. we're weaker in sympathy
with the speculative grades, and -four even
more than usually quiet with nothing 60
ing except in low grade stock. Buyers
were quick to demand concessions from
holders, but tine latter showed no DISPOSE
ton to meet the views of the former.
Corn was dealt in to moderate extent.
Early sales were at nearly yesterdays clos
ing figures but the feeling became easy
and decline of 58c was experienced.
There was partial rally, followed by fur
Their decline, and at the close August was
&c under yesterdays final quotations, and
the other futures about PC less. Reports
from the interior were not SO discouraging
in regard to the crop as was anticipated.
The receipts to-day were small, and the re-
portkd stock in store shows heavy nego-
tiations last week. The afternoon trading
was igh., less than 100000 bushels selling
on the call.
Oats were dull and heavy. Little inter
est was taken in the market, and there were
few operators in attendance. May was
easier, but this was merely reaction from
the improvement yesterday. Nothing was
doing in cash oats. There were no offer
ings and there was an absence of demand
Supply of sample lots was smaller for the
arrivals fell off good deal. Prices mo-
materially changed but trading waa linn
tied. The speculative business was little
better, orders light and less than the usual
business was done. The feeling was easy
but prices were not materially changed ex
cept for May, which closed about 1ie low
er. The stock of oats is still very heavy
notwithstanding the heavy shipments
which have been made since the opening
of navigation.
Rye was very dali and sold at lower
prices, with little call for cash and less fol-
the speculative market. The concessions
made induced few sales. Before the close
of the day June sold down to 651%c.
There was no life in the barley market.
Receipts were small, offerings by sam pie
light and buyers scarce. Prices are nom
inally unchanged, but are not held with
much frmness.