St. Paul daily globe., 1886-05-21
WHEAT GOES UP A PEG,
But There Appears to Be no Great hush
to Buy Even at Present
Prices.
John Plankinton Says Stocks Must Be
Further Reduced to Make Bull
Movement Profitable.
Large Exports and Talk Amons
Prominent Bears of Taking the
Other Side.
Something ofa Boom in Stocks mt New
York, st. Paul Going UP 1-S
Per Cent.
Chicago Grain and Provisions.

Ch5c,yo Grniu and Provisi Ons.
Special to the Globe.
Curc.cO. Nav 2O-When June wheat went
to T607611c this morning, it was caileo Jun
market strong with cash under ioc pusnei'
The shades of those old traders VINO thousn'
Sl.50 bushel the proper thing, ana 81
bushel dirt cleap. look down upon US. Inero
was even a sensation when it was telegrapheo
that Sid Francis last night at st. Louis, took
! O0O 600 bushels of wheat from little Nose
Fraley, which the latter, getting very noI III
an argument, finally thought TO chneh ny o.
fering 500, 600 bushels, and then announcer ooV,
Go bushels, both OF whlcn WiN.s
took. Cables came i'll nrHer' 80,
has really been worked a consioeEauie
quantity this week, the largest propapiy III
any week yet. 1t is even SAID tnal SUN 80, "
the big bears are almost ready to cuehso
tude. \ proposition was maze ny onS y.
these to John Plankinton to go ln'o "neH'
now for a campaign. 1t is said that Plahhlh,
ton agreed to the arguments, puI Saiu ,n ~ n0o
as much wheat as he could carry at Mllwau-
kee and did not propose TO lhcrease nis . tL'io
until the Chicago stocks had peen sun i'uoi ,
reduced. July or August, ne salu was tno
month for an advance II one was 10 DC en-
Cineered and he added that quiet between
that and this was necessary. 'The crops IN
California" said Mr.. Orr, who spent three
months in that state, ''are splenold anu the
stalks very large. California lnnuence III
fixing the
PRICES OF WHEAT
has been overlooked by this market. Engnsh
specuators have known more about IL IMAM
Chicago, and for two years have been making
fortunes with no risk by California ITO ar
rive" and seli ng short at Chicago. don II
look for much change in prices. Crops are
too fine to buy on and the price is TOO low 10
encourage speculative selling" The close as
l O'Clock was 761sc for June, not far from
the top. The local shipments II kept up VIII
exceed 900, 900 bushels this week. There
was false report that charters had 30 Deen zen
made at Milwaukee for I,4ou,ooo
bushels of wheat. One Of the quie1
things to-day was corn, fluctuations
being generally within 74c, and no
significant trade benig indulged IN.
slightly unsettled tone pervaded provisions,
pork moving upward nc on strength con-
tributed by a possible contraction or packing
operations and disposition on the part OF
manufacturers to maintain pretty stlf prices.
The close was quiet and heavy at a decline OF
sc during the last half hours trading. wheat
was stronger and ssc higher on the afternoon
board under the influence OF an increased
export demand. Vessel room for 5lU,UUU
bushels were taken here to-day. Shorts were
scared and ran to cover freely. Corn and
provisions We're firmer. Puts on June
wheat sold this afternoon at I51s9l6c: "calis
sold at 771s@TTAc.
PETER BERKEY. Pres. +. W. ANDERSON, Cashier.
J.W GRlGGs, V. Pres. A. c. ANDERSON, Asst. q.