St. Paul daily globe., 1888-10-19
The COMMERCE. RECORD.
Wheat Opens Weak, Spurts Few Times
and Closes Dull and
Away Off.
Corn and Oats Sag a Fraction, Heavy
Buying Advancing ALI Hog
Products.
Financial Operations in the Monetary
Centers--The General Quo
tati0ns.
SPECIAL to the Globe.

CHICAGO. Oct. 1S-There was nothing very
marked about the opening of speculative
markets to-day. Wheat started little nerV-
Gus, a few fractions under the close last
night declined another Ice till December
touched ST. 11I2, then rallied &c, with Decem-
Der up to 81. 1872, and again settled back TO
about last nights figures. To all lntents ana
purposes the trade was nothing more or less
than scalp between the big professionals,
with the little ones doing their best to follow.
The general commission trade, which is
feature of an ordinary healthy market,
was remarkably small in volume. There
were in the course of the day numerous
sharp fluctuations in the price of wheat
The deal was, however. strictly local, with
Hutchinson as the operator that all were try
ing to follow. Prices were easily manipu-
lated. A scare which was used several days
agoto boost values, was again found of ser
vice to-day. This was that Pillsbury was
buving all of the May wheat at Minneapolis
that he could get. This news got widely
circulated in very short order. about noon,
and directly afterward there was jump III
prices. At the advance, however, lit
tie of the property could find mar
ket and values rapidly receded. Muir
raw. of the Price Current is talking
rather bearishly this week. He says that
we will undoubtedly have some surplus TO
export. and that the market will come down
10 export basis sooner or later. December
sold between S1.13l2 and S1.1lI2, and May
between s.. 1855 and S1.117s Receipts were
lO5 cars. The story of the corn pit was
heaviness and slight decline in prices after
the first hour on quiet selling by Hutchinson
and because of large receipts. The most
marked weakness of the day was shown
when the estimate of 80 cars for Friday
was made known. The range in October
was from 1880 44I2c, closing at the inside.
November sold at 44ssc, up to 445sc, down
to 43l2c at the close, or about l2c lower. De-
cember closed at 40s4c, May at 39hc. Re
ceipts AS cars, with 307 cars No. 2 Oats
were dull and unchanged. Receipts DDS cars.
This was one of the days when provisions
were not adversely Influenced by a depressed
hog market. The opening was strong, main
" at or near last nights closing figures, and
the rather liberal offerings Of pork were
readily absorbed. Bloom and the shorts were
buyers, the former taking about 10000 bar
rels nf pork Hutchinson was Il moderate
buyer of pork, lard and rihs early in the day,
while on the call he appeared as seller.
January pork, which opened at Slab, ad-
vanced to S1452l2Q14.55, closing at
Sl447I2, or soc higher than on yesterday,
November making a like gain. November
lard ranged at SIS. .27I2@S.35 it closed at
$3.50, with January SS.l5, an advance of 3
@1Oc January ribs closed 7l2c higher, at
227I2. October ribs closed at S7.6212, or
37I2c lower. The latter part of the session
was quiet and dull most of the time.
THE ROUTINE REPORT.
CHICAGO Oct lS.-The wheat market was
dull, with prices most of the day held within
narrow limits though occasional spurts oc-
CURED which carried prices both above and
below yesterdays closing figures. Outside
business was light, and local operators were
disposed to let the market alone. The OPEN
ing was weak, and prices l2G7Sc lower than
Yesterday closing, but sufficient buying de-
1eloped to check the decline, and reaction
of &c for December and 1c for May followed.
Later il became weak again. prices declin
ing l5sc for the former and 1l2c for the lat
Ter delivery: again rallied. ruled with some
iTregularity and declined. closing 5sc
lower for December and l2c for
May than yesterday. A moderate
speculative business was reported in corn
the feeling developed. with the exception of
a short period after the opening. being in
elined to easiness. The market opened L
So above the closing prices OF yesterday, and,
upon the filling OF q few outside orders, ad-
vanced l. cent. The market then became
easier and sold of s. cent and was steady for
time, until the arrivals for tomorrow be-
came known, 73O cars, when offerings were
largely increased, and prices declined in all
lis cents, reacted IS, ruled easy and closed
5s a 4 lower than yesterday. A large local
operator, supposed to be largely long on the
nearer futures. was reported as selling mod
erately in quiet way, and this also tended
10 increase offerings. Oats remained quiet,
with May about the only future accorded any
attention. Fluctuations were over a very
narrow range, with May selling at
Is cent either side of yesterdays
closing, and near futures, though nearly
nominal, were quOtably Is cent better for
October and at the same time Is cent easier
for Nouember and December.
In mess pork an active business transpired
in January. There was also more attention
given TO May. Buyers were more inclined to
buy and good many shorts covered and a
fair quantity was also purchased by long. S
The market was easy in sympathy with the
weakness in the market for hogs, but rapidly
improved. and prices for January were ad-
Vauced 40 cents. A decline of 10 cents fol
lowed and the market closed steady. In lard
n better trade was witnessed at a higher
range of prices, November January and
May received the most attention. Openings
sales were at about the same prices as yester-
days close, advanced and 7I2 and the ap-
probation was fairly maintained. Trading
in Octobet ribs was light, but in January
was larger, a firmer feeling prevailed in the
latter and prices advanced 1212 cents, the
gain being fairly maintained until the close.
THE GENERAL QUOTATIONS.
Wheat-No. 2 October, closing at S109I2 :;
November closing at 81. 1O4; December,
SIP, closing at SL11s4; May, SI.12I2
closing at 112Ss. Corn-No. Octo-
Der opened at 44l2c, closing at 1880
November, 44ssc, closing at 43I2c; De-
cember, 407sc, closing at 4o34c; Oats-No. 2
November, 247sc, closing at 24Ssc; Decem-
Der, 25lsc. closing at 25lsc; May, 29Ssc,
closingat 29Ac. Mess Pork, per bbl-No-
vember opened at S14.4O, closing at
l4.42I2; January, opened at Sl4. Is, closing
at S14.47I2; May, opened at S14.50, closing
at S14.62l2. Lard, per 100 lbs-November
Der, opened at IS. 1919, closing at SS.15; May
Ribs, per 100 lbs-October, S7.75. closing at
S7.62l2; January, S7.l7l2, closing at S7.27l2.
Cash quotations were as follows: Flour
weaker, with very little doing. Wheat-No.
spring, Sl.09Q1. .09l2: No. spring, 91@92c;
No. 2 red, S1.O9Gl l.09l2. Corn-No. 2, 1850.
oats.,-No. 2, 24Ac. Rye-No. 2, 56c. Bar
Sl.4l. Timothy Seed-Prime, S1.51. Mess
Pork-Per bbl SIS. Lard-Per 100 lbs,
$50. Short Ribs-sides ,Qoose); $40;
dry sailed shoulders (boxed), SS.25QS.5O;
short, clear sides, (boxed, Ss.75@9.
Whisky-Distillers' finished goods, per gal,
Sl.20. Sugars-Cut loaf. 814@Sl2c; granu-
lated, rae; Standard A, 7I2c. Receipts
Flour, 21,000 bbls; wheat $4,000 bu; corn
100000 bu; oats 10000 bu; rye. 22,0OC
bu; barley. llS,000 bE- ShIpments-Flour
5000 bbls; wheat, Sc, 900 bu; corn, lS4. OOO
bu; oats, 1S7, 900 bu; rye, 5000 bu: barley
$4,000 bu. On the produce exchange to-day
the butter market was steady and unchanged
i.