Daily globe., 1883-05-13
CHICAGO.
Especial Telegram to the Globe. I


prices, but in the increased trading.
Operators who have been holding off all
the week not knowing what way the report
would turn values, and fearing to strike it
wrong if they ventured heavily, are now
again in the market. The speculative
trading to-day was large. Shorts were
very anxious to cover, there being we'll
a general upward movement. Outside
buying orders were more numerous than
for some time past. In all respects the
day was good one, and under the influ-
ences recited, wheat, corn and oats were
advanced materially, while provisions
showed more strength than on yesterday.
1t was noticed that the leading brokers on
the bull side, whose estimates as to the
falling off of the wheat yield were not sus-
tanned by the report, were buyers to a
limited extent to-day, and sold very
little grain. 1t was reported yesterday
that Armour was unloading, but
this was denied again to-day, the
belief being that his holdings were
so great he could control the market, and,
that he would put July wheat up in the
twenties next week.
On the board to-day an active specula-
tive demand for wheat existed and consid-
cradle strength was developed soon after
the opening. Prices ruled higher all
round, the more deferred futures COM
manding a premium over July delivery.
The receipts were small and foreign ad-
vices quoted slow market, but trading
was governed entirely by local speculation.
The market opened a @ q C higher, and
later advanced 19@1@c per bushel for the
various futures, with the long futures
showing the most strength and the great
est improvement in prices. The offerings
were also liberal and trading very active.
Later the feeling eased off a trife and
prices receded, fuctuated and finally cloeed
5s higher for June, &c higher for July,
1870 higher for August and September,
and 11sc higher for year than on
Change yesterday, The short crop
prospect is still the ralIying
cry of the bulls and was mainly
the cause of the advance. The temper of
the crowd was decidedly bullish almost
from the first. The July, August and Sep
tember futures were literally dealt in,
while those near at hand were neglected.
notable feature was the advance of the
latter two deliveries to premium of 56c
over the first.
Corn showed more life than for some
time. Trading was active, and decidedly
stronger feeling was developed. Specula-
tive operators bought freely, with ''shorts"
among the principal buyers, and there was
also good shipping movement The re-
ceipts continue only moderate, and infiu-
enced by local speculation prices ruled
higher all round. The market opened
strong and prices about 16@4c higher,
and under an active demand and only mod
crate offerings prices steadily advanced
T@118c per bushel for the various futures,
receded little, fuctuated and finally
closed 1@115c higher than on change yes
terday. No. was in good request. Gilt
edge receipts were preferred by buyers, es-
Pecially by parties who were carrying
June contracts.
Oats were active and stronger, with quite
free buying orders for all futures and an
appreciation of 15c for all the near de-
liveries. Oats were hardly mentioned at
all and although the receipts were small
there was a plethora of sample offerings
with a light demand, slow sales and
tendency toward weakening.
Little rye was offered to-day, and firm
feeling prevailed. May and June ranged
4@15c higher, but otherwise there was no
particular change in the market.
Barley was as dull as usual, few Fears
were sold by sample, but the market re-
ceived no attention from parties generally
in the trade. Very little barley is on sale,
but all the demand warrants.
The demand for hog products was
moderately active and the offerings were
free on speculative account. At the
opening, lower prices were accepted
but during the latter part of the day the
feeling was stronger, and higher figures
were realized on all the leading descrip-
t1ons. Shipping demand moderate. For
eign advices show no particular change,
and the Eastern markets were compare
lively steady. The receipts were fair, and
the shipments not very large. The inquiry
for mess pork was moderate and the offer
ings were fair. Prices ruled easier early,
but rallied $50 2Oc later, and closed COM
paratively steady. The offerings of lard were
fere and the inquiry fairly active. Prices
ruled about 219@5c lower per 100 pounds
early in the day, but rallied again 5@ 10c,
and closed steady.
Live hogs sold 5@1Oc lower to-day. Only
$500 were received.
While the consumptive demand for hog
products is not nearly so large as it might
be, trade in this particular is far from
dead, though commission merchants report
comparatively small orders. At the same
time, however, we find on inquiry that
there is a moderate amount of product
going out each day, and while buyers do
not take round lots they buy frequently,
the hand-to-mouth policy seeming to be
rigidly followed in their purchases. In
the meantime the speculative trading has
been quite active, and prices have ruled
somewhat irregular, but with generally
upward tendency, an advance of 35@40c
per barrel in pork, 10@ 15c per 100 pounds |