St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-07-07
The COMMERCIAL RECORD.
Heavy Realizing by the Longs Gives the
Grain Market Tone of UnGer-
tainty.
Early Buoyancy Followed by Collapse,
the Closing Figures Being Midway
of the Range.
Financial Operations in the Money
Centers---The General
Quotations.
Special to the Globe.

Special to the Globe.
CHICAGO, July 6-There was general
scramble in the wheat pit this morning, with
Did hutch and one or two other heavy deal
CTS on both sides of the market. 1t was
noticed that many of those who held on to
their wheat during yesterdays break sold
willingly enough to-day The tendency was
upward during the early part of the session.
This being aided by bullish news from Liver
pool and rumors Of great damage to
the French crop, the early strength
in what was attributed almost entirely 10
continuation of yesterdays bullish news
from abroad and to the bUoyancy In OUTSIDE
domestic markets. New York and ST. Louis
being higher, with Liverpool cables for spot
grain very firm. The weather, too, was an
important factor, and in the southwest,
where harvesting operations are III progress
high humidity. with great haat, were the at
mospheric conditions. There was good
movement of wheat out OF New YORK
shipments footing up 104, 600 blu against
AZ. 0OO bu received. The total exports from
three Atlantic states aggregated $4,000 blu.
Receipts at the principal primary markets
were 100000 blu. Receipts of corn to-day
were quite moderate. The shipments, how
ever, were of Il different character, amount
1HS W Il .SJO bu NtpiO news "eS
in corn. and purchases in New York for ex-
ports reported to be heavy. The open
ing as might be expected under such
circumstances, was a strong one for the
August option was at an Improvement OF PC
on the closing price of the previous day.
The highest point was made Immediately
after the opening, the first quotation being
soc, and the highest 50lsc. The temptation
to take the profits shown in the last few days
purchases proved to bet 90 strong for many or
the bulls, and under free realizing sales, the
prices gradually receded, and wheat begin
ming to show symptoms of similar
realizing process, the decline became
quite marked reaching down to 49!sc.
There was good buying a! the last
named figure, and reaction which carried
the price back TO 49La@494sc, which was the
latest price. In the provision pit quiet but
stronger feeling prevailed, lard taking the
lead in interest, both for cash and future de-
livery. Final closings were 2l2c higher for
pork, 1O@12l2c for lard, and 2l2G5c forribs.
There were 1000 tierces of cash lard sold at
S.. 17I26lS 20, and d free trade also in spot
ribs
THE ROUTINE REPORT.
CHICAGO, July 6.-Wheat was uncertain to-
day. The opening was strong ana the mar
Get apparently buoyant with as GOOD, II not
better, bull influences as on Thursday, when
it advanced &c. The early prices were very
deceptive, as it was followed by realizing by
the longs here and later by selling Tor
further reaction, which came sooner IMAM
expected on selling orders from New YORK
on account of the foreigners. The collapse
of the little advance was not surprising,
when it is remembered that 1t was worked up
on weather reports and cables from the
other side on which foreigners bought only
to realize at the first opportunity. The
clearances, however. keep up well, and to-
about half as much as was re-
eeived at all the primary markets.
There is still big line of
long wheat not delivered for the month, and
July was at one time s4c premium over Au-
gust. but later the gap was reduced 70 I2c.
August sold to open at S2s4c, up to S5c,
down to S2.5c. and then shortly after noon
went off to siege, from which point the rally
was feeble. September sold up 10 e3i4c
carly and declined to S214c. There was lit
tie or no rally before the close, and prices
left off as follows: July. S2Isc; August,
Sl7sc; September, Sla 4c. Corn closed, after
lie tuctuaton for the session, at ABOUT last
nights prices. August, was lse higher and
September lsc lower than last night. July
ranged 4S7s@4Ss4c, closing at 4SAc.
July sold at 5 @501sc early: declined to
to 49B@50c went off iefore the
cl ose TO 49l2c and rallied at the
close to 49ssc: September sold between
soc and 50l2c, closing at soc. An element
or strength was the large out Inspection Oh
477,O00 bu. Cables were also firm and the
export inquiry good. The principal interest
i'll oats was July, and the prices ranged from
81 5sc to 32lsc, closing at the outside for the
day. August sold at &c and 264@26sSc,
closing at the inside for the day. September
closed at 255sc. A moderate business was
transacted iii lard and stronger feeling de-
veloped and prices advanced 100 l2l2c.
Closing sales were at outside figures. Shorts
were the principal buyers and offerings
rather light. August sold at SS.2G@S.27l
and closed at SS.25@S.27l2. Year was in
better request and sold at STATING .52l2.
vanced 2l2@5c over yesterdays close Au-
gust purchased at S13.55@13:G2l2 and
closed at Sl3.57l2; short RIBS at 81 .62l2I 90.
THE QUOTATIONS.
Wheat-No. 2 July opened at SIC, closed
at S2lsc; August S25sc, closed at SIIsc; Sep
TENDER S3c, closed at S1a4c; December
s5l2c. closed at S44c. Corn-No. ., July
opened at 49l2c, closed at 494c; August DOC,
soc; October 5o%c, closed at soc. Oats
No. 2, July opei ed at 31s4c, closed at 32lsc;
August 25lsc, closed at 26c; September
25s8c, closed at 23l3c; Mess Pork, Per Bbl-
September Sl3.65, closed, at Sl365, Lard,
Per 100 Lbs-July opened at SS.I5, SS.17l2;
August $500, closed at $50; September
Ss.25 closed at SS.32I2; October So. 27l2;;
.os-August S765, closed at Sz.62l2;
September S7.72l2, closed at S7.72l2.
Cash quotations were as follows: Flour
firm and unchanged. Wheat-No. 2 spring,
S1$4@S2lsc; No. 3 spring, nominal; No.
2 red, nominal. Corn-No. 2, 49ls@l49Ac.
Oats-No. 2, 3la4@32c. Rye-No. 2, 52c.
Barley-No. = 63c. Flax Seed-No. l, S1.l9.
Prime timothy seed, So 4O@2.4 Mess Pork
Per Dbl, $500. Lard, Per 100 lbs
$500. Short Ribs-Sides Qoose), $3.50.
dry sailed shoulders tboxed), S6.25@6.50;
short clear sides (boxed). 81 .S507.9 80.
Whsky-Distillers' finished goods, per gal.
$1.20. Sugar-Cut loaf, 7laMSl2c; granu-
lated, VAC. Receipts-Flour, 12,0OO bbls:
155, 600 bu; rye, 1000 bu; barley, 5000.
Shipments-Flour. 5000 bbls; wheat, ID,
900 bu; corn. $4,000 bu; oats, 10000
bu; rye, 1000 bu; barley, LOCO blu. On the
was steady; creamery, 15L3@l9c: dairy,
14@15c. Eggs, fresh, candled, 13l2@l4c.