St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-11-04
WAS A SHORT DAY.
The Market Lasted Only Until Noon and
Was a Complete Surprise
to All.
The Close in Grain Market Was About
Unchanged and Slightly Lower
Provisions Higher.
At New York All the Stock Brokers
Were Away at the
Polls.
Chicago.
Special to the Globe.

Special to the Globe.
CHICAGO, Nov. Son change to-day
wheat was quiet and closed shade lower
than on yesterday. No. 2 for January
opened at S735c. and sales were at and
between S74@S75sc, closing at $3.50
S7$Ic. Corn was stronger and &c higher
for November, which ranged at 1890
4O15c and closed at 4015c. Other futures
u to &c better Oats were firm and
steady. Rye and barley were rather quiet.
Provisions were firmer and more active.
Mess pork closed at 1910 for January.
Lard closed at So for January. and short
ribs closed at S4.60 for January. Vessel
room was taken for %, 900 bushels wheat
and IS. 600 bushels corn. The unexpected
occurred again to-day. The crowd eX-
pected wheat to break 1c or more on ac-
count of the 1000, 900 bushels increase in
the visible supply, but the result proved that
the effect of the statement had been dis
counted. Though not active, the market
was firm. Neither the bull party nor the
bear party scored decisive victory, but the
bulls had the best of it for the reason that
the decline they had been anticipating did
not eventuate. The market opened 55@12c
under yesterday, and it only got below that
figure once, and then only for bret
period. Prices luctuated between the put
and the cali price all the morning, and
the professionals tried to scalp an honest
dollar on
EBBs AND FLOWS OF VALUES
within extreme limits of re. For some time
past November wheat has hung about SIC.
Whenever it got below that point good buy
ing would put it up, and whenever 1t got
much above it would be hammered back.
The purpose Of the carriers to take care of
cash property another month, and preSum-
ably indefinitely, has relieved the bulls
of load of anxiety, and they are no longer
afraid the grain will be thrown on the mar
ket for them to take care of. They were
afraid of the LIST of November, but that turn
in the road having been passed in safety,
they again adjourn hopefully toward
to future to be sure foreign demand that
was to have set in before this has not
come, and the prospect of export inquiry is
apparently as remote as it was three months
ago, but in spite of the discouraging out
look it is true that present prices have
great many friends who are picking it up.
The shorts feel this, and while looking for
lower prices they are less disposed to eX-
tend their lines. The bulls not being on
the rampage the market has fallen into a
rut What Will be the outcome of the
waiting game that is now on remains to be
seen. The December range was $500
size, and the close was S9@89Bc, or
within 16c of Yesterdays closing, and the
other months were relatively placed in the
list, November closing at S54@95$9c,
January at S755@S7Mc and May at 94H@
94SSc. The market left off
STEADY, IF NOT FIRM,
at figures quoted. Speculation was more
generally dilfused than it has been for a
month Wheat was less active perhaps,
but considerable business was done in corn
and provisions.
Corn developed great strength at the very
outset Of business. Driver set the ball roll
ing by bidding 41c for $4,000 bushels of
cash corn, when November was selling ten
feet away at 37Xc. He got what he
wanted of Milmine, Bodman IL Co., and
bought more at higher price. Hutchin-
son wanted some. but finding he could not
get it without bidding the market up he
withdrew. y large amount of cash wheat
changed hands at Al 4c, and there was
demand for more than could be obtained.
The stalwart demand above noted carried
the rest of the market up and an
advance of about &c was established for
November, year and May. The decrease
Ill STOCKS ndu SOOu uedl W tlO Will GuS
eagerness of shippers to lay hold of what
was in sight and that stimulated the shorts
to take themselves in out of the wet.
Altogether it was busy day in the corn
pit.
Oats were dull at slightly better prices.
The statement of stocks of provisions on
the last day of October did not greatly sur
prise the trade. though there was less lard
than had been generally figured. The light
receipts of hogs and the fairly satisfactory
showing of stocks caused the market to
firm up and prices advanced; an improve
ment of 1O@121lc N pork, 5@719c in lard
and sc in ribs was established. No after
aoon session on account of the election.
Wheat on the curb this afternoon was 87@
S715c bid for December. The official
figures of the New York visible supply
have not been given ont yet, and will not
be until tomorrow. The estimated increase
in wheat is placed at about 500, 900 bushels.