Daily globe., 1883-06-27
Corn a Better Market but Closes a
Fraction Lower.
PROVISIONS VERY UNSTEADY.
Heavy Transactions and a Considerable
Fall in Prices.
lARGE TRADING ON WALL STREET
The Beers Have the Market Completely
Under Control.
CHICAGO.
Especial Telegram to the Globe |

N-i-N-AtTtSs y ti-4S -Os--1G lCOh0O very IIuSU,
at one time to-day, as if wheat would touch |
q dollar, but 4 good many persons evil !
deEtE thought the cereal was close to its |
true value, for free buying from the short |
side caused sharp up turn in the afternoon. !
Another very encouraging point was the !
charteriEg OF vessel room for $4,000 |
cusle.s, which is an indication Of a ship |
ping movement il wheat. The markets
generally were active to-day, and values |
very irregular. Threatening weather con-
duceI to a temporary frmness in grain
early, but signs of clearing about now
brought sellers to the front and caus-
ed decline all round. The withdrawal of |
several of the supporters of the provision |
market also exerted depressing influence. |
A large delegation of millers and -four
merchants who are here to attend the Mil
ers' national convention, were on the board
during the morning.
McGeoch's liabilities continue to in
crease, and his assets to diminish in
manner that promises to make payment of
any dividend whatever problematical.
Shipments of corn from the west are
fast decreasing since prices weakened
Instead of 800 cars day, as two weeks
ago, only 200 or 800 now arrive. To-day
282 cars were inspected in. The eastern
demand is also smaller, although 215,OOO
bushels were forwarded from this city to
day, aud vessels chartered to move 223OOO
bushels.
Notwithstanding the weakness of the
provision market, shippers of hogs are
obtaining better figures this week.
Another advance of about sc per 100
pounds was made to-day. The arrivals
are growing smaller, being only 10000
day. reaction is to be looked for to-
morrow, as after all offerings had been
disposed of to-day at an advance, there
was a nominal dc cline Of 5@10c induced
by the sharp break in pork.
CE the board trading in wheat was quite
active and a large speculative business was
transacted. The feeling was considerably
unsettled and under liberal offerings
q further deCline was established in prices.
Receipts continue only moderate, and
foreign adyices quoted q slow market
Speculative influences controlled the mar
kel. 1t the opening the market YVES a
little stronger, and prices were advanced
"a Sc, then receded about &c,
but again rallied to The extent of the de-
cline. At the advance, however, the offer
Ings commenced to increase, and at first
prices gradually receded, but as the desire
to sell became more apparent the feeling
became decidedly weak, prices declined
138@158c below the outside prices
reached, then rallied trife. f1uctuated and
finally closed 1c lower for July, 18c lower
for August, = lower for September and
1c lower for October than on change yes
terday. July at one time sold at $1.O1M,
but closed &c better. On call the shorts
were free buyers, and by active compsti-
ton worked up an excitement in which the
entire decline was recovered. About 1lc
of the gain was, however, lost, but July
closed &c better than at l
o'clock, August 1c better, Sep
timber 58c better, and year $50 higher
million and quarter bushels changed
hands as this Improvement. The short
demand is about the only sustaining
strength, and there is not much probabili-
ty o. II lasting long. Only 6,144 bushels
were shipped away to-day, while Al cars
were received. The shippers seem dis
posed net 10 pay over 81 a bushel.
Inc shorts who covered their trades in
corn would have held prices steady. but
the morning break in wheat encouraged
the bears to movement that by persist
ent pressure caused a weakening of about
55c, but although there was an apparent
absence Of any buying market the prices
gradually moved back to opening figures.
There was fair business
transacted. Keceipts were smaller and the
weather cool and threatened rain, while
foreign advices quoted a steady market.
The speculative offerings were quite large,
but the demand was good and shippers
also buying. Prices finally closed 16c low
er fo7 July, unchanged for August and 16c
better for September than on change yes
terday. On call an active inquiry caused
an advance of 4@35c and the market
closed with that gain over yesterday.
The oats market opened up quite steady,
and it was thought at one time a higher
range would rule, but buyers were scarce at
higher rate and the weaknessin the other
markets habits influence, causing cash and
June to break 1c. July ranged 114cl be-
10" yesterdays closing and the
oeIerreo futures were 18@3sc
lower There was dull, heavy market.
Oasn and near futures were offered quite
freely There was no demand except from
the shorts, who were here and there cover
ing outstanding contracts at profit.
oPecqlatlVe buyers and shippers both held
off. Just at the close better feeling nre-
Valiea and the demand improved. Prices
for near futures reacted 1l@ 58c over inside
quotations, and for deferred futures abont
18@ &c of the decline was removed. The
market closed steady.
1Tof