St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-11-27
The Fluctuations in Wheat Tri-
fling, and the Closing
Prices Unchanged
The November Option in Corn Enjoys
q Little Boom and Makes a
Net Gain of Ike for
the Day.
Aeagre Receipts and Higher Prices for Hogs
Produce Considerable Strength in
the Product Of the POrker
The Trade in shares Looking Decidedly
Bullish. With "A Rampant Closing
and Much Excitement.
CHICAGO.


Especial Telegram 10 the Globe
CHICAGO, Nov. 26.-To-day's markets. in
consequence Of the fact that tomorrow is a
holiday, were OF about the same character
THAI Saturdays markets usually ere: that is
the bulk OF trading was in the way OF even
ing up by those who did not wish 10 leave
their deals open until Friday. Wheat ruled
! quiet with fluctuations confined within the
limits Of &c and the close was the same as
on yesterday. Corn was in demand by the
shorts, especially the November option,
which went up 5se and closed &c higher.
! Year went Up sc and May &c. Oats were
| alphabetically stronger, closing unchanged
/ FOR November and &c higher for
May. Provisions showed more animation
than usual, particularly as to ribs Pork
| closed 2O022j<c higher, except for NOvem-
Der, which was q &c lower, and ribs closed
/ 1Oc higher. The strength in this market
was due to meagre receipts and higher prices
of hogs. Closing quotations on the after
noon board were: January wheat axe, No
yember corn 4Ojzc, May oats 2she, Janu-
airy pork S11 .O25l, January lard s6.s5, and
January ribs 1856.
The wheat market opened strong, and the
fluctuations during the day were within
narrow range. Liverpool was still
firmly held, and Mark Lane was
/ quiet and steady. English country
markets were reported very firm. The farm
ers there evidently mean to get more for
their wheat II they can, and certainly no one
can blame them for such an effort. Imports
into the United Kingdom last week were less
than usual Of wheat, but quite liberal Of
iour. Receipts here were less of winter and
more of spring, with more at Toledo and
less at Milwaukee. A slight appreciation
followed the opening, but outside buying or
ders were moderate and the offerings from
holders who looked with dread upon carrying
their trade over to Friday caused prices to
recede &c, but when this class had got rid Of
their holdings a reaction set in and prices
6rmed up at the last to about yesterdays close.
January opened &c higher at 74Zc and
iuctuated for some time between the open
ing and yesterdays close, afterwards giving
away &c from the top figures on realizing
sales, but recovered sc to close Of 745<e.
Among those suspected of being long in
wheat is Hutchinson. He has bought con-
siderable quantities rather quietly for sew
eral days past, and It appeared to-day that
his bankers were not averse to picking up a
lot here and there when the action REQUIRED
no extra amount of exertion. There was
nothing in the range OF prices, however, that
points TO any effort at manipulation in either
direction. The majority Of dealers appear to
be upon the fence. The price is too low to
sell and the supply is too great to buy.
"The upturn in prices of railroad stocks
and gradually improving feeling in other
lines OF trade,'' said A. NJ. Wright, soon
tribute 10 the increase Of confidence in
wheat, and unless unlocked for commercial
disasters occur, purchases made in breaks
are. likely Cto give the buyer a profit. Al
though large advance can scarcely be ex-
pected for some time, and for the near
future We look for repetition of the past
three or four months, as those who buy on
depressions will continue to sell on bulges
until they see indications TO justify strong
and permanent advance"
"Wheat is l0c higher for export" said a
prominent shipper to-day. 'sFreight rates
have nearly doubled within the past three
months, and the prospects for sending our
wheat abroad in any quantity continues to
grow glOomier. To be sure there is small
amount going 70 Liverpool all the time, but is
either at special rates or was contracted for
shipments some time ago. No, the outlook
seems to be that stocks viii continue to pile
up in this country until next spring"
Corn was more active and firm. The No
vember shorts found they had oversold them
selves to-day, and were not little anxious
to get in out of the wet before the holiday OF
tomorrow, and before the close Of the month
should Oyertake them. Liverpool was strong
on corn and Z penny per GENITAL higher.
Neither the English nor American markets
are getting as much corn just now as they
want, and it would seem that the tussel be-
tween the spectators and farmers over pres
ent prices must eud in at least temporary
victory for the holders of the stuff.
since no one can compel them
10 send corn TO market until
they can see some profit for themselves in so
doing. Our receipts were pretty fair but not
as large as they would have been but FOR an
accident on a railnoad, which delayed ex-
peeted arrivals. Cash corn was held firmly
in New York on . good export and consump-
tive demand, and here shorts IN November
sent the price of November up &c from the
opening, from which point it fell OF = c aud
closed sc above yesterday, al 405{e. Il is
not probable, however, that there is a very
large number of shorts out for this month, as
past experience has made them cautious
about riskiDg much until we
have more cash corn id store
Year, opened at Soc, sold up
to $3.50 and closed at S65se. May opened
sc higher at 3T5sc, got down to SIC and up
10 373sc, closing at the opening figures
Logan Love and Kammerer were prominent
as sellers
The Chandler Brown Co. says: ''We have
felt very bearish on corn for some time past,
but cannot longer advise port sales, believ-
ing that lighter receipts will create conf
dence, which viii lead TO good buying ind
better prices. An advance, however, viii
probably again increase the volume of re-
eeipts and the quality of the corn will i'm
prove. We would, therefore, advise our
friends not TO look Tor large profits on long
side"
Oats were quite steady, May fuctuating
sc either way from 2S4c and closing at
2S5se. Jones and McFarlane together dis
posed Of about 200, 900 bushels of this option.
November sold at 255<@25s{c, closing at
the latter figure inside of ten minutes.
Soon after opening the provision crowd
turned itself inside out and dumped fully