St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-08-17

light changed hands at Sc, 10(9670, while
S6.20@6 .55 were the ruling prices for heavy.
Skips were taken at 425@4. .65. The object
of the recent big advance in prices is thought
by many to have been for the purpose of get
ting large receipts for next week, in which
event prices may be expected to turn as
sharply downward.
The sheep market was quiet. Buyers were
in about the usual attendance, but their
wants were few, and sellers did not find it
an easy matter to close out even at previous
low rates.
Hamil & Brine, in their review of the
weeks markets, say 1.-THE close in wheat
to-day shows no important change from
prices existing a week ago. Speculation for
local and outside account has been active,
and while confidence in current values may
be said to be on the increase, the buying has
not been of a character sufficiently strong to
maintain any advance. Reports from Eu-
rope are not essentially changed, the ex-
ceptionally favorable weather for harvest
operations in England having the effect of
curtailing speculative venture there, while
from France reports are of a much less
favorable character, and nothing over
barely average crop is expected Taking
the breadstuffs situation as a whole, there
seems to be no reason why extremely low
values; either in this country or Europe,
should long prevail; and as those now cur
rent are nprecedentedly low, we feel that
the chances favor buyers who get into stock
on the weak spots, and who will regard pur-
chases thus made as an investment for future
good profit.
"Corn has, during the past week, shown
about the same range of fiutuations as wheat,
the falling off in receipts having impaired
considerable strength, which, however, was
quickly lost when other grain markets weak
ened. There has been good shipping and
consumptiYe demand, preventing any ser
ious accumulation of stock either of the con-
tract or other grades. The general belief,
however, that the growing crop will largely
exceed any recent preceding one has caused
free selling for the near and deferred fu-
tures but the profitable outcome Of such
ventures depends very largely upon the
weather of the next two months and will also
be materially affected by the receipts during
the same period. Should either Of these
conditions prove adverse to sellers very de-
cided advance in values would be inevitable,
and even without interference from these
causes it is improbable that any decline
should occur. The weekly average receipts
OF corn in this market during the past ten
years, have been from ten to twelve millions
of bushels for the months of August, Sep
tember and October, while the most san
guine this year do not estimate the probable
arrivals during the months named, at over
so per cent. Of this amount. We therefore
think that purchases made at about the pres
ent range of values will be profitable, with
large possibilities in the situation favorable
to holders, should general speculation re-
vive, or should the conditions of the growing
crop at any time warrant apprehension of
disaster.
Goats show no special change since our
last, the general depression in other grain
preventing anything like noticeable activity.
We feel that current prices are at least safe
and as the latest reports respecting the out
come of the new crop confirm our recently
expressed opinion that it will fall under that
of last year, we think the chances favor i'm
provement rather than otherwise. Septem
Der oats close at 24%c.
Provisions have been very active, pork,
lard and ribs showing material improvement.
Business has been largely speculative, but we
note fair movement on shipping account
for meat and lard. The latter product has
been relatively much cheaper than any other,
and this has attracted the most attention of
late. Ribs are in light supply with a largely
over sold Market