St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-03-22


and buying June. The long futures were
quiet
Corn was quiet and the feeling in specula-
tive circles was easier. The general action
of the market showed that values were more
largely dependent on the course Cof wheat
than confidence on the part OF operators,
and the sales showed slightly lower average
Of prices, although there were rumors OF large
| shipping engagements, and the demand
for low grades for that purpose
was brisk at an advance Of
L@1c. May opened at 567sc or &c over
last nights close, quickly fell to 56Ac, but
rallied in sympathy with wheat to 5655c;
| weakened and closed at 563s@5619c.
On the call trading was light, 365,0O0
| bushels being sold at the same prices as the
close on Change. June ranged at 1c and
July at 25Sc over May, and August at %c
over July. Car lots of No. 2 sold at 54@54Ac
for strictly gilt edged receipts.
Oats were more active for future delivery
but the market was destitute of new features
and prices are unchanged. Samples on
track were more plenty and in fair shipping
request. Rye was firm 1A@5sc higher.
Pork was moderately active in the way of
scalping transactions between brokers, and
although prices averaged a shade higher the
market failed to develop either spirit or
strength. Opened at S1S.1711@1s.20 for
May; sold down to S18 and closed on 'change
at $3.50.
Lard was dull, and showed little change.
Opened on basis of s9.62H for May; de-
clined a shade, and closed on 'change
50. $1,000 go, the chief sales being between
few local operators.
Short rib sides were quiet and dull, with
transactions confined to a few lots for future
delivery, and trade throughout the session
lifeless, closing about the same as yester-
day.
Receipts of cattle were 5000. The demand
was good, with offerings smaller, and the
markets firm, with sales at an advance Of
10@15c on good shipping and dressed beef
grades. Butchers stock was also firm,
and even stockers and feeders
brought better prices than at
the openeng of the week. Light steers
of 900 to 1,O50 bounds sold at S5.25@5. so;
those averaging 1 100 to 1000 sold at $3.50
as 80; averages of ,250to l $50 at S6.O0(9
6.25, and good exporters of 1,400 to 1900 at
Sc. 40@6 so.
Receipts of hogs were 5000. Shippers
bought as freely as the light supply would al
low, but packers took very few. The market
was firm and a shade higher. Sales ranged
at 81 1906. 10 for averages af 130 to $50. As
sorted light of 100 to 200 pounds sold at
Sc. 1906. 80; mixed packers at S6.25@6.SO,
and shippers at S6.75@7.20.
Arrivals Of sheep were 700, against 3,114
lest Friday. Local butchers were the only
buyers, the offerings being too light to at
tract shippers. The market was steady and
common sold at S3@4; medium to good
S4. 50@5. .25; good Nebraska and western
stock, S5@5. so.
R. Lindblom & Co. say: "Wheat opened
strong, but some big local operators who got
short below 95c sold few millions and broke
the market &c, from which it rallied
and closed &c higher than yesterday. There
is a real good inquiry for wheat, and we ex-
pect to see our stock decrease right along.
With the immense trading going on, it would
be misfortune to have our stock decreas e
below 7,O00 900 bushels as it would result in
manipulation and stop business. It now
looks probable that Canada will take nearly
all the spring wheat we have to spare here,
and under these circumstances
wheat looks reasonably cheap.
The stock in sight and afloat is not as
large as it has been for several years, and
very little larger than the average for seven
years, while prices are decidedly lower.
Corn is very dull and decidedly heavy con-
sidering the strength in wheat. The 75c
prophets are now predicting SOC and selling
short. They may be wrong now, too. Pro-
visions show no life; quotations are shade
higher but the situation is unchanged.
Milmine, Bodman & Co. say: ''There
has now been q decline in freignts to the
soaboard within the past ten days, equal to
&c per bushel in wheat, but still the demand
for export has not materially improved. and
with all the rumors and talk of large blocks
taken for export the past few days we doubt
if there will be shipped out of store as much
af 500, 900 bushels on recent purchases, and
we record this as another
significant fact and confirmo
US more than ever in the position we have
long maintained in these letters that our
prices are too high for any Legitimate use,
and this decline in rates of Sc has fully
proven the correctness of our position, and
we doubt very much if a further reduction of
SC per bushel would induce an export move
ment sufficiently large to warrant boom.
We still think prices too high, and the long
futures a safe sale on the bulges.