Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-04-10
WHEAT AND CORN OFF THE PINS
An Active Selling Trade Forces Prices
Down to the Bottom.
PROVISIONS WEAK AND LOWER.
Quite an Active Business in Stocks Oh
Wall Street.
CHICAGO.
Especial Telegram to the Globe.l

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'change. The bright weather and lower
Eastern prices and European markets had
depressing influence. The balminess of
the day seemed to preclude the possibility
of further chilliness, and gave the bears
new confidence. Everything opened lower.
A good local demand from shorts and
spectators, buying for scalp, caused
temporary rally, bat as soon as the in
quiry slackened prices eased of again.
The feeling was feverish and values were
very unsettled. The receipts of corn were
large. The oats market was at times
panicky. and outside parties who had been
following on the bull combination, rushed
to sell, being frightened out by report
that the latter were unloading. The strong
pressure to sell caused a severe break, but
strong bidding induced a partial recovery.
Provisions frmed up during the day and
held steady.
On the board wheat was active, and the
feeling very unsettled and weak.
The receipts were fair, but
the principal reason assigned
for the weakness was the weather. The
speculative offerings were liberal and the
early market was 19115c lower than the
closing figures Saturday, then rallied Ia
l &c under an active demand from shorts.
When the most urgent demand was filed,
the market again weakened. and under
very liberal offerings prices declined l "a
158c for the various futures, and finally
closed 58c lower for May. Call sales were
at still further decline, May suffering
most severely, but although the offerings
were very large, there were plenty of buy
ers and the aggregate of trading was IN
usual, being 100000 bushels, of which
100000 were for May, which went at
S1.03$8 8@L.03Mc, closing at about the out
side. Tire afternoon decline was 4@15c.
There was d fair demand for spring wheat
at lover prices. Winter ruled quiet.
During last week wheat for delivery this
month lost 453Io, May +75c, juno 456c, July
$40.
There IS nothing &c uote in the -four
trade. Business was even more than
usually dali, If such a thing were possible
with the demand next TO nothing, for all
grades. There IS seemingly no let-up Of
this depressed condition.
Corn was active on speculative account
and fair shipping movement also exist
ed. The feeling was greatly unsettled,
and prices subject to numerous fUctua-
tions. Influenced by fine weather, opera
tors sold freely early in the day, and prices
forced to a point 75@1c below the closing
figures Saturday. But under an active
speculative demand, shorts buying freely,
figures were advanced 14@115c above
early prices, later again became weak, and
finally closed about 58c lower for May,
38c lower for June and 15c lower for July,
than the closing on change Saturday. AS
with wheat the afternoon trading was
large, aggregating 100000 bushels on
call, mainly of May. Although sellers were
eager there was no lack of buyers
and values were very unsettled, opening
weaker and closing frmer, some futures
showing a good gain over board figures.
May ended the day at 52$5@5215c. There
are great many orders to bny at SIC,
which is now the limit placed by the
prophets, but parties holding such found
them impossible to execute to-day.
There was a weak feeling noticeable in
oats. Trading was confined to No. 8, of
which there were fair offerings, and buyers
were scarce. April sold at SOC, which was
&c decline, and winter storage ard cash
also offered at that price, while for May
SOC. was the best bid. No. 3 was not men
toned, being entirely nominal. Sample
lots were also slow and easy. The offer
ings were not large, but the demand was
most decidedly limited. Future deliveries
were unsettled and fuctuated as above
noted. The market finally closed M@1c
lower for April, %@56c lower
for May and June and A@Hc lower for
longer deliveries as compared with Satur-
days closings. The feeling was weak, and
continued so during the afternoon, call
sales being 40 &c lower.
Rye declined 15c all round early, when
the other markets were easier. Later in
the session quiet, steady feeling pre-
vailed.
For barley the speculative market was
quite active early in the session. At thai
time with wheat and corn weak and quite
AAOO SO41C1o VI 4uLuE0 OdtS, pI1CcS OoClluoC
so as to reach a point 1@118c below the
closings of Saturday for the principa
futures. Offerings finally ceased, however
and Immediately the market reacted will
bids steadily advanced until prices ex
tended 119@12c above the lowest figures
for May and June, and all deferred deliv
cries.
Provisions are unsettled, and weak feel
ing prevailed in the market for hay pro
ducts during the early part of the day and
prices declined materially on all the lead
ing descriptions. The offerings were fre,
on speculative account, while the demand
was snot particularly urgent. Later, how.
ever, the market exhibited more STRENGTH
and prices rallied again under the infiu
encee of better inquiry from shorts. and
the decline in prices was recovered. Ship
ping demand rather light. Foreign ad.
vices show no material change, and the
Eastern markets were comparatiyel
steady.
The emarket for mess pork was some