St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-08-17
IN SPECULATIVE PITS.
light Receipts and General Desire TO
Buy Cause an Advance
in Corn.
Theat Unsupported Until Late in the
Day, When it Goes Up in
Sympathy.
Restrfcted Receipts and Light Offer
fnos Also Bring About an Ad-
vance in Pork.
Stocks in Wall street Weak and
Lower, Although the News
Was BuIliSh.
N SPECULATIVE PITS.
Chicago Grain and Provisions.

" NEA ShhA <AAh0 ~ - sOAASs
Special to the Globe.
CHICAGO, Aug. 16.-The usual spectacle
of an advancing wheat and declining corn
market was presented on the open board
this morning, where September wheat was
quoted 77sc. about sc over Saturdays
figures, and September corn 422sc at 5sc
off from the close on that day. Fresh re-
ceiptS were 14S cars winter and 6O cars
spring wheat, 912 cars corn and $50 cars
oats. Of stuff taken from store there were
q. 200 bushels winter and 72,777 bushels
spring wheat, 1885, III bushels corn and 81,
392 bushels oats The regular board opened
September wheat at 7735c and corn at
43c. with fair trade in each.
the even figure, 7Sc, for September wheat
brought out considerable number OF
sellers and the price quickly dropped TO
771%c, but offerings were readily absorbed
and values as sharply reacted to 7S4c,
which was top for the day, the close being
firm at 7S16c The last hours trading was
as heavy as the rest of the day pnt together.
Corn advanced TO 44@44Hc and closed at
44c. Just at the close Secretary Stone an
nounced the increase in corn as 1, 141, 900
bushels and the increase in wheat as l, 74S.-
BOO bushels. AS subsequent events proved.
corn opened square on the bottom, or
practically so, for it only sold JIG under
the first quotation of 44c. There was al
most an unlimited supply of small orders on
the floor. from all Imaginable quarters
except Saratoga.
THE CELEBRATED EASTERN CONTINGENT
are as far as possible from being bulls on
corn. They are represented this morning
as saving they do not see how this grain
can keep above 35c, but all the time it is
going up Robert Warren and Pickering
were very heavy buyers. All day there was
comparatively little for sale, and this fact
helped to stiffen the market. Receipts,
though 912 cars to-day. are running lighter
than the crowd generally expected, and
added its quota of strength. 1.-The coun-
trv'' appear to be under corn and are buy
ing small lots. The opening was firm at
43c. but soon became even firmer and sailed
I'D to 1870. Then it faltered a mo-
ment, eased back to 1870, took a
fresh grip and bulged up to 1870. Here
the market stood at 1880 o'clock. The
complexion of the wheat market has
changed completely during the day. AS
quoted above, the opening was barely firm
and the tendency was downward, the mar
ket receiving no support whatever, and
prices dropping from ~ to 7714c, but at
in more plentifully. and a
sympathetic feeling became established
between this pit and corn, putting
the price of September up to 779lc. Later
it eased back to 773s@7716c. but in the
afternoon advanced quite sharply to 7Sc.
A moderate business was done in oats and
small grains at varying discount from Sun
day, rye and barley falling off further than
oats. and all ranging dull. Pork was a
and restricted receipts of live hogs, adj
vanced substantially Csc per barrel. Less
interest centered in lard and meats, but the
whole list was firm and some higher.