St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-07-27
ACTIVITY IN THE PITS.
Spectators Satisfied the Corn Crop is
Damaged and All Rush Into
Purchase.
Outside Prices Not Sustained, But the
Whole Market was Very Active and
Strong.
Wheat Records a Slight Advance
Despite Large Increase In the
Visible.
rhe Close in Wall Street Firm Blu
Very DuIi--A Dull Feeling
Prevails.
Chicago Grain and Provisions.


Special to the Globe.
CHICAGO, July 26.-Corn traders seem
10 have about made up their minds that the
crop is damaged, though S. w. Allerton'
who has just returned from Western Trip,
says it looks splendidly and that there Will
be enough for everybody. Nevertheless,
all the big houses bought it to-day, and
their action was followed by host OF
small operators But authorities agreed
that drouth continued in the Southwest,
though in spots little rain has 1al!en;
Receipts here were 376 cars. st. Louis hao
$4,000 bushels. Lester, Norton, worm
ington and others started buying almost as
soon as trading opened. September started
out at 4116c, and under pressure OF buying
orders advanced to 1890. The advance
was attended by considerable excitement.
From these figures there was reaction to
41aSc, but later more buying orders came
in. coupled with still glOomier accounts OF
crop conditions, and September sailed up to
4215c. The fraction. however, was not
sustained. In this pit the volume of trade
was very heavy and to it was attracted an
unusual number of operators and lockers
on. Though outside prices were not sus-
tanned the whole course OF the market was
active and strong. Almost as much activity
reigned in oats as in corn. The market was
a peculiar one, in that receipts were made
to do duty as both
A BULL AND A BEAR ARGUMENT,
the latter at the opening when prices were
14@5sc off from Saturdays close and as an
excuse for higher prices after there had
been an advance of 1c. The whole range
in September oats was from 28c@29c and
part way back again to Csc. Our receipts
were 1875 cars. They were considered
heavy early, but not by any means eXces-
sive later, after corn had shown DISPOSE
ton to bulge. About all the small shorts
showed disposition to cover and by SO
doing only added strength to an already
strong market. The close was about steady.
Wheat behaved itself fairly well, re-
straining its fluctuations to 1c. Our
recelpts were 239 cars, while st. Louis had
322, 900 bushels. The movement was based
somewhat on the action of more active
grains. The curb was affected more or less
bv an advance of 2-16 in consols, dropping
off 3sc. The official opening was 741ac for
August. After declining to 74Hc it picked
up to 75c, but again reacted to 741ac. The
advance was on account of a little revolt
tionary news from France, while the heavy
tones came from big receipts, about 900
cars being at Toledo alone. Nightingale's
private cables claimed no prospect of ex-
porting wheat except at decline OF is Cd
per-quarter. The visible supply talk was
that the increase would not be as large as
had been estimated by local statisticians,
something like 5000, 600 bushels, but Off
cial figures were late. The close was firmer
at the slight advance noted. The provision
list showed moderate activity, but no wide
range in prices. September pork opened at
$3.50, sold at S9.55, then off to $9.471a,
and again recovered to the top, closing
steady.