St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-03-29
The COMMERCIAL RECORD.
Corn and Wheat We're Weak at the Open
ing, But Later Livened Up and
Advanced.
Provisions We're Again Bullish, aud
Advanced Somewhat Ali
Around.
Transactions in the Financial Circles of
Wall Street.-The General
Quotations.
Hnecial 10 the Globe.

CHICAGO March, 2S.-The grain markets
opened weak this morning, May wheat sell
ing down to 77Ac and May corn to 5184c.
The decline struck a volume of buying orders
in both cereals, and wheat reDounded 10
77S4@l775sc and corn to 52Ac Foreign ad-
vices on wheat were mildly bullish, and the
domestic situation is such as to JUSTIFY the
faith of the bulls in continued Improvement.
Buy on the breaks, is the burden OF the advice
sent by commission to customers, and the
advice is being generally acted on. Receipts
of corn were only 131 cars. nearly 100 cars
under the estimates. This served to alarm
the shorts and stimulate the bulls. Provisions
were again bullish, May pork advancing to
Sl3.75. Nav lard 10 $40 and May ribs to
1925. Wright, Singer and Clifton were bull
ing industriously, the former to help his line
of long property and the latter to make
market to SELL but their line of 10000 TO
$4,000 pounds of pork bought for a turn at
4O65Oc lower The tone of the market was
generally strong all day. The continual re
peipt of bad crop news from everyWheTe.eX-
cept Kansas and portions of Missouri and the
territories further southwark is having its
influence forming speculative sentiment
now. The season is everywhere from two TO
four weeks late and the prospects are bad.
That the weather has been very injurious TO
late soWn wheat is melancholy fact, and
no attempts TO disguise or soften the truth
will avail The only question is as to the ex-
tent of damage done and how soon the facts
will affect the chronic bears, who are skep-
teal as to crop damage and full of conf
dence that the short side is the only side upon
which money can be made The conserya-
tive element on 'change-the actual grain
merchants-feel bullsh on the situation as
rule. The purely speculative element still
leans the other way. Advices from the
Northwest are favorable to the buying side.
The country mills are nipping into interior
warehouses stocks and the milling demand
is also reported to be excellent in the East.
Nearly as much wheat is taken out of New
York to supply the New England require
ments as goes abroad. There was some talk
on the floor to the effect that northwestern
elevator companies were very generally GOV
ering their short wheat here and elsewhere.
But this is not credited as it is against their
practice to disturb their hedges till the cash
property is placed They rarely speculate.
Some of the private warehouse men may
be doing this to some extent. and
standing on their long lines, however,
about noon the market eased off Sac on the
board cables showing an increase of 1900
figures do not agree with Beerbohm's cables.
The close was steady at a recovery from the
depression. Speculation IN corn was within
limits of 84c. the range for May being 5184@
52l2c, and the close at 1 o'clock 521sc. Deal
ings were not on a very large scale. The
sense of the pit was bullish Oh the light re-
ceipts The theory is held that the heavy
movement of the past month is in corn that
would have come in May and June but for
the attraction of cheap freight and that the
late spring would be correspondingly lighter.
This keeps the markets solid, but makes short
selling dangerous. Pork lost the advance
established early in the day and closed about
where it opened. The scalpers sold out a lot
of their property on the bulge. The most
significant feature of the market to day was
the temperance of the June premium.
This looks as though there might after all be
carrying charges in pork, and as though the
big longs would rather pay the storage
charges than take and pay for the property
Oh the LIST of May. AT the afternoon session
there was fair activity in all trading pits on
'change but the markets were heavy and
Kept within a narrow range, and closed at
slightly lower prices for wheat corn, oats
and provisions.
THF QUOTATIONS.
The leading futures ranged as follows:
Wheat-No. 2, March opened at 73lSc, clos
ing at 72$4c; April, 7314c, closing at 727sc;
May, 777Sc, closing at 774c: June, 7s18c,
closing at 77s4c. Corn-No. 2, May
opened at 52SSc closing at SIC; June,
513sc, closing at 515sc; July. 52Ac, closing
Mt 5lS4c. Oats-No. 2, May, opened at 3l4c.
closing at 31lsc; June, 3116c, closing at31l8c;
August, 2714c. closing at 271ic. Mess
Pork, per bbl-May opened at $3.50, clos
ing at $1365; June, $3.50. closing at
$3.50. Lard, per 100 lbs-April opened at
$3.50, closing at 81 60; May, $7.57l2, clos
ing at $!.62l2; June, $40, closing at
$7.6712; July, S7.12l2, closing at $7.72l2.
Short Ribs, per 100 lbs-May opened at
S7.I7l2, closing at S7.20; June, $7.27l2, clos
ing at S7.32!2; July, $40 closing at $40.
and in improved demand. Wheat-No. 2
No. 2, sic. Oats-No. 2, 27l2@30Ac
Rye-No. 2, 5Sl2c Barley, No. 2, 77@S0c.
Flax seed-No. 81 As; prime timothy seed,
S261@2.62. Mess pork, per bbl., $4,000
1855 Lard, per 100 lbs, $3.50. Short ribs
sides Qoose), SHOOT. Is; dry sailed shout
ders (boXed), $5.T5@6; short clear sides
(boXed), $760@7.65. Whisky, distillers'
finished goods per gal, S1.15. Sugars-Cut
loaf, 75s@SAc; granulated, 15sc; standard
'A,' 65ac. Receipts-Flour, "a 600 bbls;
wheat. 25, 900 bu; corn, 144, 600 bu; oats,
$4,000 bu; rye, 100 bu: barley, %, 600 Blu.
Shipmcnts-Flour, $1,000 bbls; wheat, 1000
bu; corn, 102, 600 bu; oats, $4,000 bu rye,
1000 bu; barley, II, 600 bu. On the prod
uce exchange to-day the butter market was
very firm, and light stocks are reported;
creamery, 24@31c; dairy, 21@26c. Eggs,
16l2@17c.