St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-03-18

opening day of last week. Shippers are not
buying except to fill orders needing immedi-
ate attention, and the market is quiet and
easy. Butchers and canners' stock met a
fair sale but the market was steady, but
stockers and feeders were dull. The foot
and mouth disease is making buyers Of all
grades cautious about operating and until
this excitement abates heavy movement in
cattle is not looked for. Arrivals
of hogs 1000, against 1886
last Monday. The early sales were at
Saturdays prices, and shippers that
were on the market soon obtained enough
and the market for the remainder of the day
dragged and closed with 1000 in the pens
unsoId, and prices lower. The bulk of the
light hogs on sale averaged from 1875 to 100
lbs, and receivers find it difficult to dispose
Of them even at low prices. There was $500
sheep on sale against 2,097 last Monday.
Buyers were backward about purchasing, and
only fair business was transacted. The
market was weak and prices ranged lower.
Lindblom says: ''Wheat gave the bulls
surprise again to-day by declining instead of
advancing as was expected. The bears were
the principal buyers, getting themselves in
shape to sell on the next rally, which is ex-
pected to result from crop reports now in
process of compilation for the purpose of in
fuencing prices. Our own travelling agent,
who has been through Missouri and Kansas,
sends long report on the condi-
ton Of crops by saying that not
withstandng sufficient damage has been
done to lay the foundation for colored crop
reports which are sent in by spectators, yet
it is the universal opinion that fine average
crop is secured. As far as it could be judged
at this time, the acreage is larger and about
% per cent. of last wheat crop is left in far
mers' hands. Export orders have been re-
duced in price as well as quantity, and we
hear of no fresh business. The large receipts
at st. Louis must be revelation to those
who say there is no winter wheat left"
Milmine, Bodman & Co., say: ''The
trading in wheat was almost entirely local,
the scarcity of outside orders being particu
larly noticeable. The Armour and Kent
brokers, who it was said bought freely on
Friday and Saturday last, were not in the
market, and there was no noticeable action
either way on the part of the professional
giant spectators. We suppose they
are holding off to allow the crowd
to sell themselves into "a hole" again,
as they have so often done before, when these
large operators will have another chance to
put prices up and give them the crowd an
other milking. 1t looks to US as if the de-
cline might last another day or two, in which
case the market is liable to get Over-sold
again and bring another reaction; and this
is the only thing we see to give us an adj
vance, for there is certainly nothing in the
general situation to sustain even present
values, and these speculative ups and downs
are about all we need expect now. We do not
advise purchases of wheat yet, believing we
see lower prices. There were some buying
orders from the outside for corn, but not
enough to resist the selling by local bears,
and corn will hardly act independently of
wheat, as there are many local operators who
trade heavily in both and when wheat is weak
and corn strong, and they desire to short
wheat they will sell the corn instead; so if
wheat goes lower corn is likely to follow to
some extent.
Shepard s. Peacock say of wheat: ''The
situation is simply weary feeling with fine
weather to hint at new crops and no demand
for stock in store. 1t is the same story we
have had to tell all along, only as time pro-
crosses the hope of coming demand is less
and less. June wheat is frmer than May
indicating a changing over of long wheat to
the further option"