St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-08-30
A BOVINE TRIUMPH.
The Cereal Trade Makes a
Sharp Move for High
er Prices.
Spectators Looking With Sus-
piciOn on the Heavy Ex-
port Demand.
Wheat Climbs Upwards Nearly Cent,
and Indications Point tOa
Still Greater Gain.
The Bottom Dropping Out of the Provision
Pit by Degrees-September
Pork Off Dollar.
Wall Street Weak, Unsettled and Lower,
Union Pacific Leading the Down
ward Movement.
CHICAGO.
Ispecial Telegram to the Globe. |

Especial Telegram to the Globe.
CHICAGO, Aug 29-It was the bulls turn to
have the up-going end Of the market see-saw to-
day, aaI the feeling on that side of the fence is
consequently very good tonight, the more san
guinc predicting an immediate rise in wheat to
Doc while the bears have about come to the con
clusion that it is 4 pretty risky business selling
that cereal under soc. The opening was rather
weak at d shade lower prices, owing, in addition
to the usual Influences, to reported failures in
the Manchester grain trade and easy New
York market, but as the session advanced buy
ing became more general, and the feeling quite
bulish. Wheat went up @G0I2lc above the last
quotations yesterday; corn i u &c and oats &c.
Provisions were quiet and steady, the main fea-
ture being drop from $40 to S1S for September
pork, ana an active sale of October at S!S. Lard
clesed 25a615c better and ribs fell 15c on Sep
tember and sc on October.
The wheat market has been nervous and I'M
settled, with the trading mostly on local account
and without any special feature, far indi-
eating any decided tendency in the prospective
course Of prices in the immediate future. Local
traders made an attempt after the opening TO de-
press prices, and were aided in this laudable de-
sire by the report of heavy failure at Manches
ter, England, but the depression was slight and
only temporary. Henry Warner was persistent
seller Of October wheat, as also were Dwight and
Gillette while Milwaukee ard New York sent
some heavy selling ORDERS which were executed
through Lester, Schwartz & Dupee and Critten-
den 81 Harvey. After the first hour, however,
reaction set in and the crowd began to look on
whent As Il purchase and took liberal quantities
of all futures, Carr ~ CO., Nichols, Culver and
others leading the buying, while Singer and
Hutchinson are mentioned prominent
purchasers Love Bros made some heavy pur-
chascs for outside account and some
comment was excited as to whom the stuff was
intended for. iayorite idea seems to be that
this wheat is intended to cover English shorts
and the opinion advanced that if all the
short Englishmen conclude to even up now the
market would be heated to something like q
boom. The liberal outward movement for cx-
port attracts some attention, Exports last week
aggregated over 900 900, and for the first three
days this week over 1,5OO,0OO, so it looks as if
exports this week may aggregate more than last
week, and this movement, in view of the de-
crcusug receipts of winter wheat at all points, is
causing more confidence September wheat
opened "a below yesterday, at 7S y c and closed
at 19alc, the highest point of the day. October
opened &c lower at sOal C and closed at s15Sc,
}5c lower than the highest point.
Corn was steady, though not particularly ac-
tive, nobody seeming to be particularly anxious
TO sell, and operators frequently spent quarter
OF an hour in working off little $4,000 order
Charcy Mair spread on September to October
selling September and buying October, and Kan
mcrcr sold steadily Of all the options. The
openng was inclined to weakness under liberia
-ecetp. and Il belief that to-morrow's receipts
L.. L. IL,
sion an Improvement set in, in sympathy with
wheat and under the influence of liberal pur
chuscs by Baker, Stanley and Rrmsey an advance
over thc opening Of la02Ic was secured ant
maintained the close being at 52c for September
against 5l7i { Yesterday and at 509ac for October
against 1890. The latest reports from the Ohio
valley are that the drouth still continues. Some
welcome showers were had qrly in the week n
some points, but good drenching showers are
needed. The yield OF corn in southern Indiana
ohio and in Kentucky has undoubtedly been in
jurcd hy the drouth From central and western
Iowa the adyices are to the effect that it will be
three wceks yet before the corn is out of tn,
way of the frost.
oats ruled steady and quiet with fluctuations
OF about Il C, aud the strength received was NOR,
OF u sympathetic character than OF any other
tlNtS lall-tl SllEully over StStStudy CloSlnS
aud closed at % C for September and 2GHc 70
October.
In the provision pit there was only moderat,
business and weaker feeling prevailed. out
side orders, either to purchase sell, lin
tied, and local operators were not inclined TO d
much to-day, shippers were favored with few
orders, but the figures were generally below th
market, and fo,eien adyiccs, as well as thos
fay IN
ors. Pork was about as usual save that Septem
her was pat down dollar to SIS. Lard wa
moderately active and an easier feeling preyac,
during the greater portion Of the day, price
ruling weak and declining II" Toe early, but raj
lied again and closed a shade higher at s. - fo
September and 500 for October. Ribs attracted
little attention and trading was light speculator
NOT being Inclined To do much business, ant
shippers being favored with only fair orders
Ttltes ruled somewhat irregular and closed a
Sl0:85 ,or September against $40. 80 yesterday
and pstohcr at 5000, a decline OF sc.
The receipts of cattle continue to show larg
falling oI as compared with last week, and to-da
were l,ouo TO L5oo less than on last Friday
There were about l,5 cars Of range stock among
the fresh receipts. - OF which were Texans
the balance territorial There was an active de
or rangers, sold shade higher, the market clos
iu- Grm and all sold ut an early hour. The hes
ua'iyes may De quoted at S6.50G7, secondclas
S3.,5stG.5o common 10 fair S5G5.50, Texan
$a5oH4.e5, Noutauas and Wyomings S4G5. .25
Trade in the hog market is dull and prices q
strong 5Gloc lower on the best heavy, and
strong zoe lower ON light and mixed Grasser.
sold down TO The lowest prices so far for the sea,
o.. ..f. t-ff ,,-sFf I,r-
Ter ua>od, The range on the best heavy was
$50 Cos, and ON light S4.9o&e6.40 40. Ligh
ho-S were not wanted, even At the low prices
New lork shippers are either getting their sup
plies at some other market or they have quit tbs
business.
Iacyc VAS fair demand and the best sorts of
sheep werc quickly disposed of at shade
stronger price.