St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-12-21
CEREAL AND PROVISION REVIEW.
[special telegram 70 lhe Globe.

lSpCclal telegram 10 Inc NlODe.l
CHICAGO, Dec. 2O.-In reviewing the mar
kets HamiIl q Brine say: 'sThe volumn Of
business during the past week has in grain
been fully up to the recent average, while in
provisions there has been less doing on
speculative account. For shipment, how
ever, there has been a very large demand for
meats, being greatly in excess Of last week
and of the corresponding week last year.
Wheat shows a continued large increase TO
our stocks in store, while coru and oats re-
main at about the same figures, the ship
ments of the former being somewhat below
and those of the latter slightly in excess of
the receipts for the week. Since our last,
wheat shows a gain of &c per bushe for all
deliveries. Corn, oats and provisions also
show slightly improved values.
Farmers deliveries OF wheat throughout
the northwest have for some time been the
most important factor In The breadstufTs
situation of the country. The recent falling
off in receipts at the principal interior points
confirm the views generally advanced in our
advices, and they receive additional confir-
nation by the fact of the Northwestern Mill
ing association having to-day advanced their
buying figures &c per bushel. The feeling
here during the week has, on the whole, been
much stronger than at the date of our last
review, although Manday's opening figures
were below those previously reached on this
crop. We close to-day at the highest point
of the week, the same price having on
Wednesday last been barely touched, when
liberal offerings resulted in a sharp downward
reaction. The recent buying has been almost
wholly local, operators generally believing
that the decreased movement would induce
outside buying aud that higher range Of
values would be established. further in
crease in visible supply, fully up TO the re-
cent weekly average, is regarded by many
as against an immediate important advance,
and we do not look for much beyond sharp
fluctuations until we can see good buying
by outside investors, whose holdings will not
be put back upon the market because of
slight variations, favorable or unfavorabe.
The holidays, now close at hand, are gener-
ally characterized by dizziness, and, taking
the situation as whole, we can see nothing
which indicates any serious departure from
the current range during the coming week.
The general tone, however, we think, is bet
ter than that prevailing a week ago. Sea-
board markets close at the highest Point of
the week.
Corn has been unusually active during
the past week for year delivery, the eontin-
ued light receipts of the contract grade hav-
ing stimulated buying by short sellers,
whose. obligations for the current month
were quite extensive. Large purchases for
this delivery resulted in sharp advance of
nearly &c per bushel, when the demand
slackeued, the market dropped back to the
old figures, and the closing prices to-day are
about the same as those of week ago. For
January and May deliveries the range has
been, somewhat higher than the previous
week, but the close to-day shows no impor-
tant change from that of last week, being
slightly higher, with steady feeling. We
think receipts will continue moderate while
current values prevail, farmers being unwil-
ling sellers, and generally preferring to feed
their corn while the relative value for this
purpose, compared with that for shipment,
remains so much in favor of the former.
Oats have shown more strength during
the week. Shipments have slightly increased
receipts. and the speculative trade has been
rather more active. ~
Early in the week, in sympathy with grain,
the whole line of products sharply declined.
touching the lowest figures so far realized
this season. From these prices, however,
there was sharp rally short sellers having
covered their contracts freely. The shipping
demand for meats and lard has been good,
especially for the former, but in mess pork
the business is almost wholly of a local spec
ulative character. The volume of trade has,
on the VIII ole, been light, and the general
tone has been devoid of amin alton
Receipts of hogs have been firm, 214,6l3 for
the week, against 253.935 last week, and
2,029 for the corresponding week last year.
Receipts for the next week are estimuted at
about 200, 900, the holidays interfering some
what with the movement We do not look
for any important advance from the present
range of values just now, as, with good re-
ceipts of hogs in January, which are now,
generally expected, the deficiency in the
packing of this season viii be more than
made up, and stocks here at that time viii
probably exceed those of year ago.