St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-06-12
The COMMERCIAL RECORD.
Wheat Opens Low, Shows Extreme
Weakness and Closes Over One
Cent Off.
Some Very Depressing Influences Affect
Corn, and Provisions Close at
Medium Figures.
Financial Operations of the Money
Kings on Wall Street.-The
General Quotations.
Special to the Globe.

GpeCldl ~ lI6 0lODe.
CHICAGO, ILL.,, June 11.-Contrary to gen
eral expectations, the wheat market opened
weak and lower this morning. with July
quoted at S57sc and December at SIC. Ca
bies were weak and there was a notable and
conspicuous absence of outside buying Or
ders. During the first hour wheat worked
down 12c. The weakness was more apparent
than real, however, and the market devel-
oped some strength at the decline. The
crowd was still ciphering on the government
report and after the opening New York par
ties wired that dispatch from Statistician
Dodge had been received there saying that
indications pointed to wheat crop of little
over 100000, 900 blu. This may have contrib
uted somewhat to the momentary weakness
though why it should passes comprehension.
Receipts Of corn were l, 1872 cars, of which
ABOUT AZ per cent graded No. 2. The inspec-
ton included a portion Of Yesterdays re-
ceipts, but the amount was SO far above esti-
mates that the market got weak and sick.
July corn sold off to 517sc, and August to
52l2c. Oats were l2c off. Provisions ruled
dull and weak early, with July pork quoted
at S13.9712@14, July lard at SS.60@S62l2,
and July ribs at S7.57l2@7.6O. The visible
supply statement was trife late getting out,
and when it came the effect of the
figures was found to have been discounted.
The price kept within the $sc limits for the
next hour. The totals were as follows:
1883. 1887.
Wheat. bu........25, 753, OO9 42,111,6
Corn, bu. Jos, 4IS 12,516, 1872
Oats, bu ...... 5,230,s65 $3.50, 1913
Barley yai bu 800: 565.SGo 1SS,o54
The changes on the week were as follows:
Wheat, increase $1,000 bu; corn, increase
1885, 900; oats, decrease 16S, 900 blu.
The total visible supply is less by 1,65O,O00
bu than it was last year at the corresponding
date. Total stocks in sight are now about
100000 blu below low water mark of
last year. The tendency of values was
downward in everything. The great
volume Of receipts of corn, and a
correspondingly swollen movement of hogs,
serves to depress corn and provisions. and to
alphabetically affect wheat Several times
during the day July wheat touched s5c. and
December found its way down to the neigh
borhood of S6ls@S6A as often. The tone
was firm at the decline, and reaction fol-
lowed quickly. The exceptional statistical
merit OF wheat is recognized, and bears are
cautious about putting out any considerable
lines Of short They run to corn quickly,
and as the bulls are doing absolutely nothing
to force" prices up the market keeps mar
row. There is fair volume Of business
daily, but it is largely local and professional
Corn got to 51I2c for July, 5212c for August,
and reacted to 52asc, but was weak at the re-
covery. The bull leaders are literally groan-
ing under the burden which is daily and
hourly getting heavier. The visible supply
is now about up to last J ear, and the increase
of nearly 100000 blu last week is back
brake on bull speculative spirit Provisions
continued heavy through the session, with
no new features developed
Special to the Globe,
At the afternoon session the market was
active, and wheat sold 5sc lower Corn was
about steady and oats a shade lower. Pro-
visions were easier and pork was sc lower
THE QUOTATIONS.
The leading futures ranged as follows:
Wheat-No. 2, July opened at $3.50, closing
September. s5Ac, closing at $3.50; Deem
Der, SIC, closing at $3.50. Corn-No. 2
June opened at SLICE, closing at sic; July,
PIE, closing at 51ssc; August, 52lac, clos
ing at 515sc; September, 53c, closing at
52lsc. oatsmNo. 2, June opened at 32l2c,
closing at 32lsc; July, 32l2c, closing at
SIC; August, 2S1sc, closing at 2slsc; Sep
tember, 27lsc, closing at 271sc. Pork. Mess,
$3.50; August, S14.lO. closing at SD;
September S1415, closing at SI4IO.
Lard Per 100 LBS July opened at Ss.57ls,
closing at $s.57I2; August: $3.50, closing at
$s.67l2; October, $50, closing at $s67I2.
Short Ribs, Per 100 lbs-July opened at $3.50,
closing at S7.60; August, 81. 67l2, closing at
$40: September, S7.75, closing at S7.75.
Cash quotations were as follows: Wheat
No. 2 spring, S412@S5c; No. red, s5I3c
Gorn-,No. 2, 51lsc; Oats.-No: 2, SIC.
Rye--No. 2, 5Sc. Barley-No. 2, 65@67c.
Flax seed-No. 1. $3.50. Timothy Seed
S13.s5. Lard-Per 100 lbs. $3.50. Short Ribs
sides Qoosel, $3.50. Dry sailed shoulders
SS.10@S.15. Whisky-Distillers' finished
goods. per gal 81 20. Sugars--Cut loaf, 7A
@SAc; granulated, Csc; standard "a" 6l2c.
Receipts-Flour. $4,000 bbls; wheat, 5000
bu; corn, 357, 900 bu; oats. 100000 bu;
rye, 5000 bu: barley, 5000 bu. Shipments
Flour, $4,000 bbls; wheat $4,000 blu;
corn, 227 900 bu; oats, III, 600 bu; rye, 4, 900
bu; barley, 1000 Du. On the produce ex-
change to-day the butter market was firm;
creamery. 15@ISc; dairy, 12c. Eggs firm
at 12c.