St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-07-10
UNSUSTAINED ADVANCE.
Cereals and Provisions in Chicago
have an Unsettled Day, Clos
ing Lower.
CHICAGO.
Especial Telegram to the Globe.

to-day were active and irregular. They
opened easy and soon advanced under
sharp demand from shorts. There was no
demand to speak of for shipment. Receipts
of everything were moderate and there are
very few outside orders either way now.
New York dealers continue to sell freely,
which is not to be wondered at in view of the
sick condition of their own market. We can
hardly expect an export demand here while
New York is relatively cheaper than Chicago
The strength appearing in our market early in
the session was due to reports of rain
in southern Illinois and Missouri Good
weather is reported from Kansas Out here
it was damp and muggy, and with the ex
ception of very few points in Iowa and
Wisconsin, the weather was reported damp,
cloudy and threatening. After the early de-
mand from shorts for wheat and corn was
satisfied, they both weakened, but remained
tolerably steady till at the close when wheat
fell off to the lowest prices of the day. St.
Louis parties were reported to be large sellers
in anticipation of big receipts of winter wheat
from Kansas. We hear very little on the
bear side. Prices are already so low that
it seems ridiculous to predict further break.
Very much now depends on the weather. If
it continues favorable prices are liable to be
crowded lower, but on the other hand any
thing like unsettled weather would set the
market wild. Considerable business was
done in the provision market and the vol
ume of business was quite large in the aggre-
gate, though confined largely to lard and
H., A tJ,N.lo fnoJ
ing prevailed early in the day owing to slow
hog market and unfavorable advices from
eastern and foreign markets, and
material reductions, were submitted to
on leading articles excepting pork. Later
stronger feeling was developed and prices
rallied again, the reduction being gradually
recovered, though not fully sustained to the
close.
The wheat market was fairly active and the
feeling unsettled and a little nervous, being
sensitive to slight influences. The opening
was weak and 14@36c lower, under the eff
feet of unfavorable foreign advces and rath-
er free offerings brought out by the weakness
yesterday afternoon. After slight fiuctua-
tions prices advanced &c under good de-
mand from shorts, influenced somewhat by
the wet and threatening weather. Later it
eased off q c under pretty free offering, but
again advanced &c, and finally became
heavy and closed at 81 4 b bid for August.
On the afternoon board there were rumors
that one of our largest spectators was in.
trouble and August wheat dropped to 90Mc
and September to 80 sc.
e
trading chiefly of speculative nature. The
market opened unsettled and weaker. in
fuenced by free selling orders, brought out
no doubt by the weakness developed yester-
day afternoon. Prices declined 5000 be-
low closing figures yesterday afternoon,
then rallied 35@Mr, but again eased off
about 4013c, when under rather sharp
demand, chiefly from ''shorts" and partially
in sympathy with wheat, the market gradual
ly advanced, receiving further strength later
by small receipts. Prices in all advanced 1 3
@13Sc for the leading futures above inside
figures, later they declined heavily sc un-
der free selling and closed about the same
as the closing figures on the 2:30 O'Clock ses-
sion yesterday, or at 5015c bid for August
board corn sympathized with wheat and
August went down to 1920 and September
to 1870.
Oats were quiet, orders light and the mar
ket ruled dull at 39@5sc lower for futures.
The demand for pork was moderatively ac-
tive, and offerings were comparatively light.
Prices of long futures advanced 50c69S1, and
the appreciation was fairly sustained. Trad
ing was larger than for several days past, a
good portion in the way of settlement.
August closed at S22, Sep TENDER at $205O
The market for lard attracted considerable
speculative attention and trading was activ e.
Prices ruled weak early and declined 2000
3Oc per 100 pounds, but rallied again 20G9
25c. Later they declined 10@1215c, and
closed steady. Trading was chiefly in con-
tract for August, September and October de-
livery Shipping demand was fair. Aug
ust opened at $40, declined to $500, adj
vanced to 81 15 declined to S7.05.
and closed at $7021I01$7.O September
closed at 1920. An unsettled and weak
feeling prevailed in the market for short crib
sides. Prices declined 300035c per 100
pounds on the whole range, but rallied again
25@30c. closing easier. August opened at
S7.70, declined to S7.4719, advanced to
$3.50, declined to S7.65 and closed steady at
1862 5037.65. September closed at S7.70.