St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-07-30
Strong Foreign Markets and Re
ports Of Damaged Crops Push
Wheat Upwards.
Conflicting Statements of the Visible
Supply by New York and Chi
cagO Calculators.
Heavy Buying by Well Known Firms Shows
that the Outs are Anxious to Get In.
Stocks Move Up and Down IrreguIarly and
Close Weak and Lower,
CHICAGO.
Especial Telegram to the Globe

lll III u sDGCuIdllFC way OI Cudu9G IO-udys dLu
the markets were generally stronger, still the
scene on the floor, even at the moments of great
est animation. failed to give more than hint Of
old-time yeliuess. The fact is, there are a great
many operators who are not trading at all. They
are those who have been bears, but having been
forced from their position on the short side by
legitimate bull influence, andnot having yet been
converted to the long side, are on the fence. Add
TO the inactivity of these operators the meagre
outside orders and you have the main
causes for lack of lIveness in trading circles.
The chief bull arguments of the day were stronger
foreign and eastern markets, and reports OF dam
age to crops by the wet weather on the conti-
ncnt. Winter wheat markets also higher
and prices showed an advance. On the other
hand, there heavy receipts at these points
and but small decrease in the visible supply.
The posted report shows decrease of 88,115
bushels of wheat, 81, ,914 bushels of corn, and
1856 s3G bushels of oats. After this report was
read tclegrams were received from New York,
stating that the Walker report to be published
tomorrow would show large increase
in wheat. They had no effect on
the market, however, the Chicago
report was thought to be correct. 1t was ru-
Inored that the New York supply would show
an Increased of 1850, 900 bushels. September
wheat opened at S5Tc, "a c better than yester-
days close, and closed at $685. c0S6Hc, an ad-
vance of &c. September corn closed at 55c the
same as on yesterday and oats from the same
month closed unchanged at 2GBc. In provisions
there was but very little doing, nothing at all as
90 pork, which, however, was S24.50, an advance
Of soc. Lard was about steady and short ribs
15@20c higher.
of r,a+i
the tone was irmer ana indications of increased
confidence were not wanting. The improved
tone in Wall street was in measure accounta-
bic for This, as was also the fact that New York
produce operators are beginning to see reasons
why they should be on the bull side. The outs
cyuce considerable anxiety to get in and to day,
as usual, the irregular advance was caused
largely by their efforts to buy. Lester was a
heavy buyer, ana Carr & Co. and other well
known houses handled half million bushels
each, going in al about the bottom aad out at
about the top. \ large shipper, speaking of the
European demand ior wheat, said ''There has
not been II lime within my memory when our
large shipments of wheat were more acceptable
in England"
"Why, then, demands broker who is on the
other side Of the fence, ''don't they pay us a
better price for il: II you're going to compile
statistics on the subject you'd better tell the
tmth:'
That's just what Pm doing, young man. The
only reason why the price of wheat doesn't 20
NJ faster is because we keep the foreign mar
kcts gutted. Every inch OF outgoing vessel room
from our ports is in demand by exporters of wheat
II there were more ships in the carrying trade we
could send over our wheat faster, but as it is we
can't. This is why prices do not advance more
rapidly
September opened ut 50 and then immedi-
utely went up to sGiac from where it fell off to
s5l.c the lowest point OF the day. Then with a
Guctuation it rallied to S6ai e witha few bids at
SGac, and finally closed on the regular board at
SGaac and ON the afternoon board, where trading
WAS moderate at SGl2c
Corn remains strong, operators being afraid to
50 short on account of the small amount in store
and the continuance of the large demand for
shipment The few bears that there were tried
10 hammer the market by selling u
GOOD deal in small lots, but the price
wouldn't stay down, Schwartz " Dupoo
and Baxter were the principal sellers and Baker
and hutchinson were the best buyers. The visible
supply as posted showed decrease of 372 1000
bushels, but the prospect for immense crop
was never better The market opened S@ &C
higher, then eased off about /. under fair specu-
mtiye offerings, but under renewed buying, in
nuenccd by Il sharp demand for cash corn, smaller
receipts and the advance in wheat, prices were
advanced y @5sc, which We're, however, soon
lost aud after some further fluctuations the mar
ket closed at 50 for September on the register
board aud soc on The afternoon board On the
lGttcr the close Tor August was 55Sc.
oats were firm, with fair speculative de-
mand. The demand was particularly good for
July delivery, which ranged q higher and Aug
usj delivery was also better, improving A@%c
over yesterdays closing the last figures being
21 &C. for August and &c for September,
In provisions the feeling was strong and bet
ter business was transacted in the early part of
the day. The demand from the shorts was fair
ls active and offerings were moderately large.
The shipping demand was fair. but buyers were
cautious in their movements and rather slow to
meet the views OF sellers. Foreign advices were
favorable to holders, prices being advanced I'd
on pork, lard and bacon. In this market pork
advanced soc, though there was no trading in it,
aud lard went up at $50 20c, the advance being
moderately well maintained to the close. After
noon board closiugs were at Ss.3sA for August
aud 7.4SNs for September.
The feeling in ribs was somewhat unsettled
and prices irregular. Prices opened steady aud
rallied gradually s0G25c and closed at SSH FOR
August and SS.27 for September.
Receipts in cattle continue light as compared
with last week, the arrivals being considerably
below the corresponding time last week. Native
fSt cattle wcro scarce and sold At extreme prices
Texans were III liberal supply snd sold shade
higher. Natives wero scarce, hence the few
good ones were quickly disposed OF at strong
prices, perhaps shade higher than Yesterday.
GrasSers and medium sorts remain about the
same Is last week. Cows and other low cattle
are not wanted even at the present range OF
prices S,ockers and feeders continue to sell st
very low figures.
Receipts OF hogs were comparatively light; an
sctive demand, with prices strong sc higher on
ell sorts.