St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-07-28
BOOMING MARKETS.
A Bad Day for Those Caught
Short in the Stock
Market.
Manitoba Put Up Five and a Half
Points and the Changers
Follow.
The Grain Markets Strengthened by the Adj
vance in Stocks and an In
creasing Demand.
Bears Nearly Disappeared from the Grain
Pits at Chicago = Pro-
visions Quiet.
CHICAGO.
Especial Telegram to the Globe. |

we're it not for the fact that circumstances
can metamorphose the strongest bull into an
equally belligerant bear, when occasion
warrants Receipts were heavy everywhere
to-day, but on the other hand the export de-
mand was active, cables strong and New
York markets firm. The grain markets
opened strong, and though there was not
much trading the closing prices were stronger
being &c higher than yesterday for August
and September wheat, and re for October.
Corn was nearly as strong, the gain for Au-
gust being nc and 1sc for September, with
October steady. Oats, Too, closed shade
stronger Provisions were frmer, with
slightly better demand for lard and ribs, and
meagre offerings. Pork closed lower, at
S23 80 for August and $500 for September.
Lard was 21<c071Gc higher, and ribs 5(@719c
above yesterdays closing prices. No after
noon board Saturdays.
Wheat to day was traded in but lightly,
and that by the local crowd for scalp, yet
the bidding is unquestionaby stronger and
few seem anxious to operate on the
short side. Indeed, Sheldon is spoken of as
the only prominent bear left in the pit. AL
most everybody else is long and anxious to
get longer. The less sanguine traders in
wheat attribute its growing strength to the
present boom in stocks. Others have great
hopes for wheat in view of the good export
demand which has lately sprung up. The
opening was unsettled at about SAGE Sep
TENDER, but early in the season there was
drop to S4115c on reports of heavy receipts at
oil Mt but thura was OOn6
demand, and as the offerings became smaller
prices recovered and went up to S5@85hc
eased off to S41sc, and closed at 85c, August
closed at $500.
"If a concentrated movement in corn takes
place, look out; something is going to drop"
said a prominent packer OF provisions and
dealer in grain to-day, and when asked for
his further impressions on the subject, said:
"There's between seven and eight million
bushels corn Short in this turn. How much
do you suppose there is in store to cover
withs Not more than $50, 900 bushels, and
receipts are growing lighter If you're short
on corn the best thing you can do is to cover
before you sleep"
Corn was steady to-day but not at all ac-
IiNCJ anu JiC NIOh hOSSal L lCt1 liIll az bI'~-
ly scared as it apparently ought to in view OF
the story told IN The foreGo NJ figures. The
deal was only scopins ono.remaining aboat
the same as yes,49jay. September op,ne,i
~ 5iNc, touched 555Ic, ana c.osyd firm d;
the close Of t.> morning III 545sc. August
closed al 55c
Taera WAS but iitta doing in oats, and tic
closing was about steady.
Trading was rather li4at in the provision
pit ami the market iirmer for most descril-
tons. Offerings were not very large and the
demand only fair. Foreign advices showed
an advance in lard, which opened here a
shade below Yesterdays close, but advanced
5(e711c, and closed steady at $7.07 August
and S7.22 for September.
Ribs opened at about yesterdays closing
figure, and, after an advance of 5@10c
closed steady at outside figures.
Pork quiet and dull with prices easier,
August falling to $3.50 and Septem Der
20 $1S,
In the live stock markets receipts of both
cattle and hogs we're light. The few loads
OF good native cattle were early disposed of
at a shade more money than they would have
brought yesterday, but that fact was owing
entirely to light re ceipts, as there was no
Improvement in the demand. Gamers
and others who use Texans to a large
extent were free buyers, seeming TO be un-
der the impression that the supply would
materially fall off next week on account of
the great decline in prices this week. So
They houObt I'm hitr drp,.ns ,,,;no- ,.a.,
generally Toe higher than yesterday.
The demand for hogs was fair. and prices
strong sc per hundred higher, especially on
medium and mixed packers. Choice heavy
and fancy light underwent little or no
change.
Hamill e Brine, reviewing the market.
say: 'The markets have fiuctuated consider
ably during the past week, wheat aud corn
showing somewh hat lower average of prices
and oats ruling shade better, while pro
visions, though comparatively inactive, have
been fairly maintained, except in the case OF
mess pork, which for all deliveries closes
lower with rather weak feeling. Trading
IN wheat has been on liberal scale, several
outside orders for round lots having
been filled in the early part of the
week. These have not been sufficiently
numerous to create any excitement but are
noted as indicating return of confidence,
which we think needs but moderate devei-
opmeut to produce permanently higher
range of value than those recently current
in this and other speculative markets, The
receipts of red winter wheat at the principal
markets for THAT grade have disappointed
those who predicted unusually heavy farm
ers' deliveries, and we feel that this feature
will be more marked in the near future
unless material advance in values SHOULD
afford that stimulus to the threshing which
those now current do not present. Adviccs
from most Of the states, where harvesting
has been completed, DO not confirm the
antcipations of a week or two ago, and the
yields almost everywhere falling short of the
general expectation. The quality, however, is
as far as we have been able to learn,
uniformly good and in this market
the meagre arrivals of red winter " heat from
the new crop have promptly been taken on
foreign accountable week closing with an
entire demand at outside quotations. For
eign adviees respecting the growing crops
have not presented any specially new fea-
lures, although there has been considerable
modification on the glowing accounts re-
ceived earlier in the season, uufavorable
weather of late in the United Kingdom aud
on the continent having interfered some
what with the development of the wheat
plant. Stocks everywhere, both in this
country and in Europe are exceedingly
light and as the statistical position of bread
stufs is very strong we feel that with return
ss-1aa-eS xa must see very <onn a uerma