St. Paul daily globe., 1886-05-11

has ever happened to help prices. There
have been disasters. but of Il kind to break,
not bull, wheat. There have been failures,
there have been strikes, there have been riots,
but there have been no great wars; no crop
failures. Holders of wheat, growers OF
wheat, bull spectators, manufacturers of
Hour, have been living along expecting that
something would happen, disaster or war,
or something else, to vary the mOnOtony OF
their losses. 1t begins to look as if nobody
in the trade had enough money to bet this
sequence through. Doubling up, in the
hope
OF WINNING OUT,
long ago broke everybody who tried it, 1t
looks again as if there was nothing left i'll
the wheat pit to fight over except the ,
cents per month carrying charges, and it
looks, too. as if the short sellers were to
pocket this for the next month or two. as
they did all last winter. Since May wheat
was at 7635c and cash at under 75c there
has been no adequate movement OF
the grain. The sailing of the Chi
eago feet. and large exports for one week
made the bull spectators so eXultant that
the nriee was at once moved out of reach
and The movement abroad checked. Tactics
at licago fol another thirty days such as
have been in vogue the last fortnight, and
which put exporting out of the question,
viii make the situation on this side so des-
perate that tactics of any kind will not
avail anything. A steady market at 75c
would have cleaned out
SOME OF THE BINS
but crazy spectators and a rotten system
Immediately advanced the price and that
killed the trade. This morning wheat
opened weak and lower, and the volume of
business transacted during the day was
only moderate and mainly of local scalp
ing nature, there being very little done in
the way OF Illlng orders from the outside
Large stocks and encouraging crop reports
made sellers more numerous than
buyers. Prices closed at the inside figures
of the day, and show drop of 1c On
the closing at l o'clock on Saturday.
June opened at rs cents. and sales were at
and between 7735@7S18c, closing at 7735c.
July closed at 7914c, August at S04c, Sep
tenlber at S19sc, and October at SIC. Corn
was moderately active, and rather weak at
t1cl opening, but as the receipts were only
81 Fenty-SiX cars, and there was withdrawn
from store 2S3, 900 bushels. shorts became
nervous. The bulk of the trading was ill
July, which advanced
UNDER FAIR BUYING
from 36Ssc TO 36azc. and closed at 36%Sc.
May was weak, with prospects of free de-
liveries, and declined from 343sc to 341S@
3414c; later it became stronger and closed
at 3419c. The shipping demand was fair
and vessel room for 161. 900 bus was taken.
Last sales were about the same as Satur-
day. Oats were quiet, with weak start
and a rather firm close; June sold at aSH
@sS5Sc, closing at 2S3sc; July closed at
275sc. Rye was moderately active and
steady. Barley was quiet, but
shade tirmer. Provisions were fairly ac-
tive, but prices were weaker and lower in
sympathy with wheat and on account of
large receipts of hogs. Mess pork dropped
Zoe, and lard and short ribs 21l@5c. Mess
pork for June opened at SS.6715. and sales
were at ss.6o@S. .6715. closing at SS.671I:
July closed at SS.7715. Lard for Ju:le
opened at IS. .S21l, sold up to So. s. and
closed at S5.S5 Short ribs tor June sold
ct So. 20@5.25, with S4.20 the first and last
quotation.