St. Paul daily globe., 1884-11-24
Provisions Continue to Manifest No Life
and at the End Of Each Session
Show Small Decline.
CHICAGO.
Especial Telegram to the Globe. |

lSpeClal Telegram 10 Ine GlODe.
Chicago, Nov 22.-There was more life
on 'change than has been usual of late, with
corresponding increase in the volume OF
trading both outsiders and the local crowd
taking more interest in leading grains.
Wheat was firm throughout and closed at the
top prices of the day and at an advance Of
about 11lc over yesterdays close. Corn
opened higher, but broke under heavy re-
ceipts and at The close all options except
November were 15@4c lower. November
was &c higher. Oats declined shade and
provisions generally were lower, pork falling
5t0l0c, lard 21Ic and ribs sc. The closing
quotations on the board we're: January
wheat 75c, year corn 361sc, May oats 275sc,
January lard Sc. 20, January ribs S5.52%
On the curb wheat was weak and 1s0Ac
lower, corn a shade easier and provisions
quiet
much stronger feeling was developed in
wheat, and the market opened 14c higher,
and rapidly advanced with only slight re-
actions, closing strong at 75c for January,
with the bulls expecting to put it higher on
Monday. st. Louis reports an advance of
1@l12c for cash wheat. The bull influences
were a rumor that Armour, who has for some
time been buying the bulk of the receipts of
No wheat, and was supposed to be selling
January against them, had only sold a com
paratively small amount of the option,
and was heavily long, the heavy purchases
yesterday afternoon and to-day by large
houses here, which gave the idea of con-
certed bull movement, European cables not
ing hardening tendency there, current re-
ports Of a decreased acreage of witner wheat,
free purchase of car lots by millers; smaller
receipts, and the bad weather in the west
and ndnorthwest The strong upward tendency
of the market caused rush to cover
shorts, all the greater from its being short
day and the bears bid up the market on
themselves, no disposition to sell freely be-
ing evidenced by any party. Should the ad-
vance not cause the putting out of large
lines of new shorts and consequent free sell
ing, there is reason to expect that it will
continue Monday Receipts are expected to
show material falling off from now, es-
pecially if the warm, rainy weather con-
tinues, and indications are that next Tues
days visible supply statement will not show
over 100000 or 100000 increase. Decem-
Der opened at 734@793sc, advanced with
frequent fluctuations and closed at
1 p. m. at 74H@745Sc. January was
the most active future handled
and liberal business was done in changing
from December at the premium quoted
Opening at 732sc, it sold at 731s(9751sc and
closed at 75c. February developed little
more life, opening at 74s4c and closing at
74sS@15Tc. No. 2 spring is scarcely called
for by shippers and sold in car lots to specu-
lators to carry against sales for future months
at 55@73Xc cash. No. spring was in
better shipping request and advanced 203c,
closing at 5S(060c. No. 2 red winter aa-
vanced and closed 1c higher at 74I0741Sc
and No do advanced 31Sc and closed at
63c. Lester, Driver anc Counselman were
buying all the morning and so were Clifford.
Irwin, Orr d Co., and Milne, the exporter.
The latter said:
YES, wheat has taken an upward turn to-day
but IL is only Il temporary boom. What reason
Is there Tor higher prices. granting that wheat is
now lower than it has been in yearsg Our visible
supply will amount to so 90, 900 bushels in a few
weeks. 1t is now nearly 20 per cent. larger than
1t was at this time last year. 1t was year of
good crops in this country and an Indifferent crop
abroad. This year we have a larger crop at
home and foreign crops are all fair TO good The
foreign markets are already glutted Added 10
this comes the report that the spring wheat area
for next year will be much larger than il was last
year No, the situation is not cheerful one for
the bulls to contemplate
Corn was moderately active, but there was
an absence of supporting features, and al
though prices slightly improved at the OPEN
ing, the market soon weakened under heavy
receipts, predictions of large arrivals next
week and an absence of any considerable
demand except to cover shorts, and values
for all futues beyond this month were lower.
Low grades for prompt delivery also suffered
severe decline and closed at the bottom.
Despite the large increasing arrivals. the fact
that only small percentage of the receipts
grade No. 2 in connection with low prices
is an argument against selling short. No
vember opened at 392lc, sold at 399<04O16c
and closed at 392<@4Oc. Year opened at
3o14@36Bc, and was fairly active at
35s@365sc and closed at 36@361Sc. Janu-
airy opened at 1890, was quiet, ranging al
344@345sc, closing at 34%c. Schwartz d
Dupee were sellers of May and John Kanther
and Wheeler, Gregory & Co. were buyers.
Oats ruled steady at 25e for December and
275Sc for May, with Press about the only
buyer.
The provision market was moderately
active, weak and 5@10c lower than yester-
days closing. January pork opened point
above yesterdays closing, but on selling by
the same parties as yesterday, declined with
small fluctuations 124c, reacting one point
at the close. January lard was affected by
one prominent local operator selling part
CT bis holding, declining Sc, but recovering
half the decline at the close The business
done was Of little importance, and principally
on local account. The feeling is weak
though packers do not seem disposed to offer
much for future delivery.
AT the stock yard the receipts Of cattle were
light, and mainly Texans, which sold a shade
lower. The feed natives on sale made about
the same prices as the previous days of the
week. Receipts for the week were about
10000 and for next week the estimates are
placed at not over $4,000.
The hog market was unsettled and weak.
with the bulk of the choice packing grades
selling at 81 2O014.25 or there abouts. and
values were a strong 10c lower that at the
opening Yesterday Receipts for the week
were 60 200, and estimates for the next week