St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-04-02
Business in Grains of a Scalping
Nature, With Prices Some
what Higher.
No Business, However, Outside of
Wheat, in Which the Visible
Supply is Decreased.
Provisions Dull and Easier, With Prices
Tending Upward, Closing Quiet on
the Curb.
The Western Union Ship Declared Unsea-
worthy-VanderbiIts Going High.
er--Lake Shore Leading,
CHICAGO.
Especial Telegram to the Globe.

! CHICAGO, April 1.-The grain markets
were nervous, but destitute of new or strik-
ing features, trade being chiefly between
brokers for outside orders, both cash and
futures being small, and business of local
| scalping nature. Prices were higher, show
ing an advance of 35919c on wheat, &c on
corn, and 15@A on oats. Wheat attracted
the most attention, and was the only
grain that showed any activity to speak
of. 1t was moderately active, but the
feeling was nervous, and, although the fiuc
tuatons were not severe they were rapid.
Trading has been heavy all day, but largely
in covering May and selling June and July,
which had the effect of narrowing the differ
ence between May and the long futures ma
terially, June at one time selling only lie
above May and July2c. The deliveries of
cash wheat were large, but as it all
went into strong bonds for carrying charges,
it had no effect on the market. Liverpool
cables quoted dull and heavy markets on the
other side of the Atlantic. Brokers in the
export trade said that they were
without orders and the same
condition of things was complained
of by those who handle the domestic trade
in futures, county orders, in particular, be-
ing very scarce. In addition, the crop ad-
vices were most flattering, but the receipts
were light, and the visible supply,
computed under the instructions of
the board of trade, showed decrease
from last Tuesday at twenty-one points and
in transit of 1000 bushels. The weather
was exceedingly moist and gloomy. These
influences rendered the bears nervous, and
although there was free selling at times, there
was no disposition to stand on their deals
Trades were carried on the slightes changes
in prices, and the rapid fluctuations were
chiefly due to that. Rumors were current on
'change, that Armour and other strong par
ties were buying all the May wheat they could
get, and selling June and July, as hedging,
in this way working to get control of all the
cash wheat, and be in a position to manipu-
late the market in May, should there at any
time be good legitimate demand or some
crop disaster, and in the meantime exciting
speculation on the bull side.
Corn was tame, and although an advance
of 15@Mc was at one time secured, there
was comparatively little interest shown in
speculative features from the open
ing to the close OF
the regular session had
tired look, the early advance being lost, but
partially recovered later in the day. The
general impression prevails that there is
large amount of long held by small operators
on the floor and outsiders, and this feature
is regarded with disfavor by
the large bulls. The report of
| the visible supply also showed decrease
of $50, 900 bushels for last week, but this was
offset by small receipts, the inspection show
ing only 122 cars, ffty-four of which We're
contract goods. The wet weather has also
giving quite well, and bringing firm prices
for the better cars of white. May sold from
33Ac down to 325Sc, receeded to 33Ac,
and closed at 33c, on 'change and $3.50, bid
on call.
Rye was quiet and slow, with little DISPOSE
sition shown to trade, there was weaker
feeling the latter part of the session. In
barley there was hardly any thing doing.
Trading in pork was more animated, yet
and entirely speculative. May and June
were the favorite futures. The nearer de-
liveries were dull and relatively lower than
the latter month. Prices were weak, added
to the uneasiness of the bears, as they fear
that bad roads will prevent free movement
in the country by farmers.
Oats were quiet, the offerings being light
and the demand in proportion. There was
fair shipping demand for samples on track
at grade better prices.
| Provisions were dull and easier early.
Trading was at good prices. For time the
market showed unusual activity, but when
the few local orders were filled the product
was neglected, except by the packers
who appeared to be watching
things closely without doing much
business. On the afternoon call the markets
were comparatively steady, the May options
closing about the same as on 'change for
oats and provisions. Wheat was stronger
and corn trifle weaker. On the curb wheat
was stronger, corn easier and provisions
quiet
Wheat was fairly active, but nervous, IN
settled, changing frequently, but moving
within range of 115@1H, and at the close,
seller May was about nc higher than at 1
O'Clock yesterday seller June sc higher and
seller July Nc higher. The market opened
somewhat higher than it closed on 'change
yesterday, and with some strong parties
buying pretty freely, the market was gradual
ly worked up &c from the opening and &c
over the closing price yesterday, but the adj
vance brought out free selling, when prices
fell irregularly 5sc on May, 11sc on June and
1Ic on July, afterwards rallied 79@3sc,
eased off, then fuctuated frequently within
moderate range, closing unsettled.
Corn was moderately active and somewhat
unsettled, fuctuating about &c, and closing
with May about &c higher than at 1 O'Clock
yesterday, June &c higher and July &c high
en- The market was Influenced largely by
the course of wheat, and went back and
forth as wheat went up and down.
In oats more active market was noted
with slight improvement over yesterdays
closing. There was no great call for cash,
but speculation was brisk, and this market
received more than usual attention.
Cash pork closed nominally at STATIC
1850. May pork was moderately active,
opening at s177O, sold up to s7.7711 and
then down to s17.571z closing at s17.621l@
1856. June opened at S17.S5, sold at s17.-
671a@17.s5, and closed at $17.72h@17.75.
Lard was easier and lower, with only a
moderate trade on speculative account, May
and June claiming the principal attention.
May opened at $3.50, sold between 1925 and
s9.3211, and closed at s9.25@9.271z.
In cattle there was little or no change to
note as compared with yesterday. The de-