St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-07-11
The Grain and Provision Markets Make a
Slight Upward Movement Under
Bull Influences.
The Government Crop Report for July
Shows Improvement Over the Fig
ures of Month Ago.
The st. Paul Excursion Party Send
ing Home Orders to Buy
the Stock,
1t the Same Time Forwarding Tele-
grams to Chicago Traders to
Sell Wheat.
Chicago.

CHICAGO, July 10.-Lower cables and
weaker feeling at New York caused our
market to open 1@Hc lower than it closed
yesterday afternoon, but when ST. Louis
came 12@3lc higher it produced little re-
action in feeling and slightly better prices.
But outside influences and fine weather
were too much for the bulls, and it was
found quite difficult to maintain any adj
vance. Liverpool, in fact, was quite
''Sick" and reported a decline of Id per
GENITAL in red winter and spring. and Sd in
white Michigan. CargoeS also were quiet
and slow. The main cause of the present
depression is the proximity of another har-
vest and the improved prospects of a better
yield than was expected. Particularly good
reports are coming in from Dakota and the
Northwestern wheat regions, while some
sections of the winter wheat territory,
notably Indiana, are turning out better than
was feared early in the year; but the prOmi-
nent StatiSticians and state secretaries still
insist that there is no improvement in the
probable outcome viewed as a whole, and
the poor traders who have no independent
sources of information hardly know who or
what to believe. There was
A GOOD DEAL OF WAITING
to see what the July report of the national
agricultural bureau would be- although
private advices said there would be no great
change in the figures given in June. The
situation is not a little perpleXing, and it
will be great boon to spectators when
the final facts are aScertained. Late in the
day telegram was received from Wash
ingtOn showing that the government crop
report for July estimates the total wheat
crop at 3G3, GOO, 900 bushels against $780,
600, 600 bushels a month ago. The depart
ment advices show some Improvement dur
ing the month in nearly all the winter
wheat states. Corn is stated to be in eX-
cellent condition, with per cent. increased
acreage. or at least 4, 600, 600 acres added tO
the estimates of a month ago. Oats have
shared with all cereals the improvement of
the month. and shOwa general average con-
ditiOn of 81 against 90 last month. j. T.
Lester was in the market making a great
show of selling, but really selling very lit
tie, and, in fact, was buying more than he
sold. A sensational report Of twelve cases
of yellow fever in New Orleans had the
effect of breaking the market, and w. F.
Baker went into the pit and bought pretty
good line at about the lowest point of the
decline.
THE CROWD SOON RECOVERED
from the scare on the official denial of the
report and shorts Immediately began to
cover, and toward the close of the morning
session both elements were in the pit buy
ing very cautiously and nervOusly watching
each others movements The Opening in
August was SSc. 1t sold down to S7S[c.
recovered to SS15c and closed at SS14c at
1 o'clock. Early in the day the bears
again tried to start a rumOr of hot wheat in
New York, but it was too old to work with
the dull crowd, and later when Armour's
New York man examined the wheat and
reported that the quality was excellent. the
report was effectually squelched. A we'll
posted bear gave it as his opinion that the
Adams crowd had not been unloading
wheat with the freedom they had been
credited with. He said that they had
simply been transferring their point of stor-
age to Buffalo, where carrying rates are
cheaper. To back up his opinion, he
pointed to the lack of export demand and
the small cleaTanceS from New York.
ALL THROUGH THE EARLY
session, from the start to the finish. the
grain market remained without much action
and was so devoid of interest that the talk
ative brokers were unanimously of the Opin-
ion that it was 1.-The dullest day they'd ever
SEEN" After the break there was little
buying by shorts, which recovered all the
loss; but i'll the afternoon the tone was
stronger and the market improved 3sc.
rlosing at the outside of the day and about
5Sc better than yesterday. Latest prices
were S655c for July, size for August.
903lc for September and 92Xc for October
Corn came nearer TO being real estate"
Gmmovable property to-day than usual,
the figures sternly refusing to bulge over
nc in either direction. The number AZ
must possess some strong magnetic power.
for it holds August and September corn
around itself as though they had been nailed
there. September, however. begins to show
weakness. Liverpool was weaker on corn.
and One-haf penny per GENITAL lower. but
receipts are only fair. and as long as the
shipping demand continues good. prices
must remain firm. The reports from the
growing corn in all directions are glowing,
and if nothing occurs there must be
A VERY LARGE HARVEST
OF both corn and oats, whatever may be
the result in wheat. In Kansas alone. the
promise is already estimated at 225. 900, 600
bushels, against 191, 600, 600 last year and
$4,000, 900 bushels in 1888. 1t is a good
distance, however, to next corn harvest,
and there's many slip, ct cetera. Lester
d Co. sold 200, 600 bushels of August corn
at the top price. The close was steady
and slightly firmer at prices but little
changed from yesterday. Latest quota
tons were A Il for July, 47c for August.
46Mc for September and 4615c for October.
Oats were quiet and trade was so re-
stricted that values were barely more than
nominal. The tone was easier, but prices
at the close Of the morning session showed
no quotable change from the ruling at the
same time yesterday. The last transactions
this afternoon were at the same figures as
those at l o'clock, and are the same as
4loca rl,li Of 4ba
terday. August opened at 265%c and closed
at 26&c. September opened and closed at
25Tc.
PROVISIONS STRONGER.
Provisions, influenced by lighter receipts
of hogs than were generally expected.
opened stronger and higher for all products.
Pork sold quite freely at fully zoe above
yesterday afternoons close. Lard advanced
TIC and ribs 121&c, when free offerings
caused buyers to withdraw, and reports OF
yellow fever in New Orleans although I'M
confirmed, increased the disposition to sell.
Under this pressure the advance in pork
was almost wholly lost. Ribs and lard, al
though less freely offered, also lost por-
ton of the advance, but later there was re-
cOvery all around when the yellow fever
reports were contradicted. At O'Clock
the tone was somewhat weaker, and offer
lngS were more liberal. On the afternoon
board there was all active demand from
short sellers. and all product shows further
improvement. Mess pork shows an adj
vance for the day of 271%c, lard of 1Oc and
ribs of 1219c, with the highest prices of the
day obtained at the close Closing prices
for August and September were: Pork,
SlO.2O@1O.2753; lard, S6.6O@7.70; short
ribs, 5.4O@5.50.
This advance is the regular thing al
this time of each month";" said a provision
broker. '"The shorts who mt ont nrnnerfr