St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-06-09
STILL ADVANCING.
In Spite of Bear Arguments the Wheat
Bulls in Chicago Have Another
Picnic.
Interest Oentering in the One Pit Almost
tothe Exclusion of Other Speoula-
tive Articles.
Cold weather and Short Crop Reports
Working the Mischief with the
Low Price Men.
A Very Quiet Day in Wall StreetA
Good Word for the Northwest
ern--Einancial.
Chicago.

Chicago.
Special to the Globe.
OCHICAGo, June Sowing to the Arctlc
wave, mainly, the gram markets all opened
higher this morning. July wheat was up
&c and August &c above Saturday CLOS,
ing figures, but there seemed TO be So0'l
deal of wheat for sale early, and the WeighV
of offerings broke the market back TO $3.50
for July. and 915Sc for August. AT TINS
point the tide turned and prices went up
above the opening, closing 90]5c for July,
92Hc for August. June closed at SS2Sc,
after fuctuating 5sc-full sc over Satur-
day. The day was one that traders aDhor,
and news gatherers always have easy times
when trading is so light. There is a very
nervous and unsettled feeling lingering IN
and around the grain pits. The prNaliihS
impression is that prices are gong hlgner'
and so great is the fear OF getting
Left among the traders that shorts cover
with small profit and longs Duy
freely at every decline. This keeps the
market bobbing up ard down III a ively
fashion, and prices are all over the groUilu
many times in day, Liverpool was quiet
but steady at unchanged quotations, Dut the
VERY WET"
New York opened T@4c lower and
then rallied, while st. Louis was 4@Nc
higher and continued firm. One thlng
which prevented greater strength was the
expectation that the usual weekly state
ment of the ''visible supply" due to-mor-
row. viii show handsome gain over the
figures of last week. and this fact lit 1t oc-
curs) reveals the impoSsibility OF selling any
more wheat at present prices. On the
other hand there is a wide
spread impression that the year
viii be one OF greater or less disaster to the
growing crops, and this makes people will
ing to buy, whether reports fall off OF not.
Hence the market, as a whole, may be
called nervously strong. Prime gives ont
that crops are less promising now than they
We're ten days ago. as too much rain has
retarded the growth. What ultimate effect
this ''cold snap will have on the growing
grain remains to be seen. operators are
divided in their opinion as to the future.
The Chandler-Drown company say:
The outlook for our winter Whe at crop
(Which from the reports seems to be rapidly
growing worse Oh account Of the ravageS OF
inseats), overshadows all other features and
gives us confidence i'll our recent prediction
of higher prices
Il note the secretary of the Missouri state
board of agriculture estimates the
cop Of that state as promiS-
Jig only 9,000,0 900 bushels, as
against $4,000, coo produced last year."
said George Bodman: ''These figures de-
note an alarming falling off, and if other
winter wheat states come in finally on any
thing approximating this kind of shrinkage,
the advance heretofore predicted is likely to
be realized sooner than many have been eX-
pecting. The market is very nervous in
deed. and chiefly on crop condition"
Some strong unknown party is sustain
ing the market" said George Everingham.
This fact is proven by the strong buying
demand to-day, in the face of local bear
ISL movement and decided lack of outside
buying orders. But l think the long side
Of wheat is the safe side, and purchases
made Oh break from present prices will be
profitable"
Il have nothing new to say of the mar
ket," said George Shepherd, ''but if GUS
toners take my advice they will buy on all
breaks"
CORN STRONG.
Corn was less active but proportionately
strong. In fact the opening showed more
gain than wheat, July being 3sc higher and
August sc. Both options sold Off hose
early, with wheat. and then advanced above
4Gc. Light fr0sts being predicted tonight
by the signal service it could not be eX-
pected that corn would show any weakness,
especially when provisions and wheat were
firm and advancing. Liverpool reported
corn as easier" but not duotably lower,
while cargoeS of American mixed, for
chi,
higher. Car receipts were good, but not
large. New York and st. Louis were both
tirner and higher on corn. as well as wheat
Prime says that the late rains have retarded
the cultivation Of the ground, and that the
''StaHd" is thin and backward. OF course,
if this cool weather should last any
length Of time there would be great
excitement in the corn market, or if these
''pOiar waves" are to be often repeated it
will have similar effect, as any disaster to
the crop would be the worst in its conse-
QuenceS Of any that could occur. The spec
ulative inquiry was good and the close firm,
with an upward tendency. Latest quota
tons were 47c June, 1890 July, 461sc
August, 1870 September.
OATS WE'RE ONLY MODERATELY ACTIVE
and at the opening there were feeling of
Steadiness, but weakness afterward set in,
followed by rally, and later by a slight
fall, with the closing figures about &c under
the outside ones Of the session for June and
July, and trifle lower than on SATURDAY.
for the long futures No. 2, for uly, ranged
from 31T@334c and closed at
33Bc. On the afternoon board a firmer
feeling was developed, the market was
stronger under fair demand from short
sellers, and. although business was COM
paratively small, there was sufficient in
quiry to maintain values The close was
Sac for June, $500 for July. 2S15c for Au-
gust and 2715c for September.
Provisions ruled higher. with increased
inquiry from short sellers. There were
very moderate. offerings of the product
when the market opened. and when wheat
strengthened short sellers became anxious
Efforts to cover short sales resulted in an
advance OF about SOC on mess pork, 10c on
lard and 1772c on ribs. Receipts of hogs
were rather under the expectation. which
stimulated speculative demand, and the close
was fairly firm at nearly outside prices.
The opinion prevails however, that the adj
vance to-day will prove temporary, and
that when short sellers have supplied their
wants, the market will again recede The
close was fairly steady for all the product,
pork closing at 5000 June, S10.55 July.
S10.G5 August. Lard closed at Sc 60 June.
$3.50 July, S6.75 August, S6.S2l Septem-
Der. Short ribs closed at S545 June.
S5.4719 July, $3.50 August, $3.50 Sep
tember
The Quotations.
CHICAGO. June s. Flour quiet and un-
changed. Wheat-The feeling was unsettled