St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-07-27
Manitoba Put Up Five and a Half
Points and the Changers
Follow.
Sas9 vraYn Markets Strengthened by the Ad-
vance in Stocks and an In
creasing Demand.
Bears Nearly Disappeared from the Grain
Pits at Chicago = Pro-
visions Quiet.
CHICAGO.
Especial Telegram to the Globe. |

equally Dculgerant bear Wnen occasion
warrants Receipts were heavy everywhere
to-day, but on the other hand the export de-
mand was active, cables strong, and New
York markets firm. The grain markets
opened strong, and though there was not
much trading the closing prices were stronger
being $sc higher than yesterday for August
and September wheat, and sc for October.
Corn was nearly as strong, the gain for Au-
gust being ~ and Is for September, with
October steady. Oats, too, closed a shade
stronger. Provisions were irmer, with
slightly better demand for lard and ribs, and
meagre offerings. Pork closed lower, at
S23.jG for August and $500 for September.
Lard was 21Ic@7jlc higher, and ribs 51l715c
above yesterdays closing prices. No after
noon board Saturdays.
Wheat to day WAS traded in but lightly
and that by the local crowd for a scalp, yet
the bidding is unquestionably stronger and
few seem anxious to operate on the
short side. Indeed, Sheldon is spoken of as
the only prominent bear left in the pit. Al
most everybody else is long and anxious to
get longer. The less sanguine traders in
wheat attribute its growing strength to the
present boom in stocks. Others have great
hopes for wheat in view OF the good export
demand which has lately sprung up The
opening was unsettled at about S438c Sep
tember, but early in the season there was a
drop tO sc on reports Of heavy receipts at
nearly all points; but as there was a good
demand and as the offerings became smaller
prices recovered and went up to S5085Lc
eascd of to Sl$c, and closed at S5c, August
cosed at s3asc.
'Itaconcentrated movement in corn takes
place, look out; something is going to DROP
said prominent packer Of provisions and
dealer in grain to-day, and when asked for
his further impressions on the subject, said:
''Ghcre's between seven and eight million
bushels corn short in this turn. How much
DO you suppose there is in store to cover
with. Not more than $50, 900 bushels, and
receipts are growing lighter. If YOU'RE short
ON corn the best thing you can do is to cover
before you sleep"
Corn was steady to-day but not at all ac-
live, and the crowd doesn feel half as bad
y scared rs il apparently ought to in view of
thc story told in the foregoing figures. The
deal was only a scalping one, remaining about
the same as yesterday. September opened
at 5+@ic, touched % &c, and closed firm at
the close Of the morning at. 5455c August
closed at soc.
There was but little doing in oats, and The
closing was about steady.
Trading was rather light in the provision
pit aud the market irmer for most descrip-
tions. Offerings were not very large and the
demand only fair Foreign adviccs showed
All advance in lard, which opened here a
shade below yesterdays close, but advanced
5@l e, and closed steady at S7.O7 August
and $722 for September
Ribs opened at about yesterdays closing
figure, and, after an advance of 5a1Oc
closed steady at outside figures.
Pork quiet and duh with prices easter,
August falling TO S23.50 and September
to$lS,
In the live stock markets receipts of both
cattle and hogs were light. The few loads
ol good native cattle were early disposed Of
alta shade more money than they would have
brought yesterday, but that fact was owing
entirely to light re ceipts, as there was no
Improvement in the demand. Gamers
and others who use Texans to a large
extent were free buyers, seeming to be un-
der the impression that the supply would
materially fall of next week on account of
the great decline in prices this week SO
they bought in big droves, and prices were
generally l0c higher than yesterday.
The demand for hogs was fair, and prices
strong Sc per hundred higher, especially on
Medium and mixed packers. Choice heavy
and fancy light underwent little or no
change
Uamill & Brine, reviewing the market
say: THE markets have 1uctuated consider
ably during the past week, wheat and corn
showing a somewhat lower average of prices
aud oats ruling shade better, while pro-
visions, though comparatively inactive, have
been fairly maintained except in the case of
mess pork, which for all deliveries closes
lower with a rather weak feeling. Trading
IN wheat has been ON liberal scale, several
outside orders for round lots having
been filled in the early part of the
week. These have not been sufficiently
humorous 10 create any excitement but are
noted as Indicating a return Of confidence,
which we think needs but moderate devel-
Opmeut to produce a permanently higher
Tangc of value than those recently current
in this and other speculative markets. The
receipts ot red winter wheat at the principal
markets for that grade have disappointed
those who predicted unusually heavy farm
ers' deliveries, and we feel that this feature
will bc more marked in the near future
unless material advance in values shouli
afford that stimulus to the threshing which
those now current do not present Advices
from most of the states. whore harvesting
has been completed, do not confirm the
sniicipauons ot week or two ago, and the
yields almost everywhere falling short of the
general expectation. The quality, however, is
as lar as we have been able to learn,
uniformly good ana in this market
the meagrc arrivals Of red winter wheat from
The new crop have promptly been taken on
foreign acc0Uut-the week closing with an
eutro demand az outside quotations For
eigu alviees respecting the growing erons
have not presented any specially new fea-
tures although there has been considerable
modification on the glowing accounts re-
ceived earlier in the season unfavorable
weather Of late in the United Kingdom aud
on the continent having interfercd some
what with the development Of the wheat
plant Stocks everywhere, both in this
country aud in Europe are exceedingly
light. and as the statistical position of bread
smffs is very strong we feel that with return
;nreoufdencc We must see very soon a perma-
rently higher range Of values, and again We