St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-10-07
THE COMMERCIAL RECORD
Old Hutch, by Liberal Buying, Forces
Up the Price Of Wheat Six
Points.
Corn and Hog Products Take Tumble,
Oats, However, Advancing
With Wheat.
Financial Operations in the Monetary
Centers---The General Quo
tati0ns.

CHICAGO. Oct 6.-This week will long be
remembered by the trade and the public for
the amount of plunging in wheat One week
ago to-day the September deal closed end
other wheat futures were based above 81.
The crowd thought they were forced there
by Hutchinson. and that a decline would
follow when cUiet was restored But neither
Quiet nor the decline came Instead prices
jumped about 4c Monday and about 10c
TUESDAY until - Is was reached. There was
one day of quiet, caused by the refusal of
business Of many houses, and again the bulge
is on. Yesterday. after touching higher points
than before. the close was about SC higher
than any previous day. Outside markets
were moving up quite as rapidly. Duluth
was leading, New York following. This
morning there was an ordinary opening
with prices &c over last night. At the end Of
the first hour there was the daily furry and
December wheat went square uptO 81 20 and
refused mp to noon to fall below Sl.19. Con-
sidering the limited amount of trading and
the deliberate manner in which prices were
bid mp. IL has been the strongest day of all
in wheat, NOT only in this market, but at the
seaboaTd and in the Northwest At l p. m
fifteen minutes before the close. the main
tanned advance for the day was
about SC The highest prices of
the day were touched shortly before
the close. when December touched Sl.22
and May 81 % Receipts here were but so
cars, exports at Atlantic ports bu $4,000 bu.
The com market to-day as an ordinary one.
The manpuiatoTs did not attempt to make
prices, and the scare of Friday caused many
tinid shorts TO cover. Receipts were AIS
cars Oats dull with prices about unchanged.
The provision market opened strong, but
product was offered freely, and prices
dropped off. January pork sold from S14 so
AT the opening down TO Sl462l2, closing at
SI472Is, with October So. so. Lard sold at
50 I5@9.35, December closing at S9.22I2, a
decline of i5c. Short ribs closed at 2Iac
lower.
THE ROUTINE REPORT.
CHICAGO. Oct. 6.-There was only a fair
trade in wheat to-day, chiefly local, though
some little ontsidc business is being done !;
higher prices were again established and the
market developed decided strength. The
same prominent operator who has figured so
conspIcnOusly in the market for the past few
weeks was credited with being the principal
buyer. The conditions are about the same as
recently noted, and no new features pre-
scented. The markets in the Northwest con-
tinue TO rule strong, and Duluth for No.
hard ruled 9GI2c above Chicago prices for
No. =. All home markets were higher and
foreign markets also ruled stronger and a
shade higher. The opening here was about
&c higher than yesterdays closing
with further advance of Gil?c established
later; ruled strong and closed ga
@6c higher than Yesterday, with May main
tanning the established premium. Corn was
fairly active. and generally steady, though
early in the session an easy feeling prevailed,
after which the market ruled unsettled. The
trading was mainly local. and appears 20 be
centering in the more deferred deliveries,
May. in particular, to day ruling quite active.
The Influences governing the situation to-day
were of a local character, very little. if any,
outside news of importance being received.
The market opened about &c above the clos
ing prices of yesterday, was firm for a time
and advanced lac sold off s4c, reacted Iae,
ruled weak. and declined 1@1Isc, reaching
The lowest point of the session, and closed
ssGI2e lower than yesterday. Oats were
quiet except May, in which there
was fair request. This held
prices firm and caused I4c higher range with
near future nearly steady. Trading in mess
pork was moderate, aud chiefly during the