St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-07-12
'CHANGE FLUCTUATIONS.
The Grain and Provision Markets Move
Upand Down With Mercurial
PrOmpJness.
CHICAGO.
Especial Telegram to the Globe.I

CHICAGO, July 1.-The markets on
Change to-day were steadier and less active
than yesterday Early in the session there
was an advance on all articles on the specu-
lative list, which was at first attributed to
heavy buying by the bears to cover shorts,
but was really caused, in the opinion of
number OF prominent brokers, by quite an
influx of buying orders from the country,
which, II true, is encouraging for higher
prices. A member Of the board having a
large correspondence with grain men in diff
ferent parts of the country explained the
phenomenon of country orders, after so long
lapse of anything of the kind, substantially
as follows:
! II have reliable information from differ
ent parts of Ohio, Indiana and ILLINOIS to
the effect that farmers will not sell bushel
OF wheat at the present prices, and are stack
ing crop to be threshed and marketed when
prices are better. My correspondents write
that great deal of wheat is moulding in the
shock on account of its damp condition
when it was cut and recent heavy rains. This
need not necessarily damage the product
materially, but will effectually prevent imme-
date marketing of it. In this way an adj
vance in price may shortly ensue.''
In opposition to the views of the gentle
man above quoted, careful inquiry among
dealers operating on Change shows that the
majority anticipate further decline.
In the provision market the feeling was
quite strong. No very decided change oc-
CURED in the prices established yesterday in
the different lines of product, but the adj
vance then made was well maintained, and
for some articles, particularly lard and late
deliveries of pork, was further increased.
General trade showed the sustaining influ-
ence of strong undertone, but neverthe-
less general business dragged little and
was only fair in volume.
Wheat opened firm, though there was not
much activity and prices throughout the day
ruled somewhat irregular, though shorts were
heavy buyers the air being full of rumors
that Kent was going to squeeze August.
Opening prices were at slight advance on
closing figures yesterday afternoon, and
were firm, for the time selling up to &c,
but then broke and fell to nearly opening
prices. Then the market took another sharp
up turn. largely in sympathy with the strong
feeling in corn, but there was a subsequent
decline of 1c, and closed at 80 nc for August
and $500 for September. On the afternoon
board the feeling was stronger and August
closed at S21ac, while September closed
at sac.
The corn market was active and at times
excited, but prices were irregular, fuctuating
about 1$5c on August and 1Tc on Septem-
Der. The first sales were slightly below the
closing of yesterday but soon became strong
and finally rather excited, shorts competing
sharply with each other. August advanced
15sc from the opening and September NC,
but after the demand from shorts ceased
prices declined, and August fell 1 nc from
the highest point and September 1c. The
closing was at 523sc for August and 521@c for
September ON the regular board and at 521Sc
for August and 5236c for September on the
afternoon board.
Oats were more active and prices strong
er, the general improvement in the grain
market helping this cereal out.
The pork market was fair, July and Au-
gust DeluP again uclu db SS9.OU TOT seq
TENDER and October delivery prices were
advanced 25c over yesterdays quotations, at
1 O'Clock the former being quoted at S21.50
and October at $3.50.
Lard was quoted strong, prices in their
fluctuations covering range on September,
the principal future, of only 121&c. and at
the close the general market stood 713910c
over yesterdays 1 O'Clock quotations or at
81 40 for September.
Short ribs were shade higher but with
very little doing.
Prime fat cattle are scarce and held at high
figures, but there was little or no change
from yesterday. Prices are equally as high
to-day as any day last week, the market hav-
ing recovered the slight loss of Monday and
Tuesday. Grassy and common cattle were
selling for all they were worth. Native
butchers stock, especially old cows, is $50
CSC lower than Monday. The main cause is
a plentiful supply of Texans, that enables
consumers and butchers to make better Sc
lections out of Texans. The latter are in
fair demand and steady.