St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-01-06
THE COMMERCIAL WORLD.
There We're Too Many Bulls and the
Grain Market Was Forced
Down.
No Startling Developments in the
Speculative Market We're
Noted.
Transactions in the Financial Circles
OF Wall Street.-The General
Quotations.

CHICAGO, Jan. 5.-Nheat and corn opened
father strong with the crowd bullish in senti-
ment There are too many bulls said a
veteran, as he took a survey of the pits Il
think prices will go lower" Prices did go
lower May wheat went from Sol2c TO soc
within an hour, and May corn from soc TO
54Isc Cables were conflicting. One house
had q cable TO the effect that California
wheat was unsaleable at a decline OF 3G6d;
foreign adviceS generally did not quote de-
cline however. The Northwest is bulllsh
and New York rather beariSh. The sluggers
went at provisions again the first thlng,
breaking May pork down TO S15.4o, and May
lard from SS.02ls TO S7.S3. Lard was worse
pushed, everybody taking crack al it, De
VelopmentS in the speculative markets were
not of startling character to-day. New
York continued TO plug Chicago with re-
Elected bearish news about the situation
abroad, the prospective big movement OF
Australian and Russian wheat and the lnde-
pendence Of foreign buyers. Geddes and
Dunn were among the sellers to-day and this
produced the impression that the foreigners
were doing something on that side OF the
market The domestic situation continues
strong, however, and the cash markets are
strong at all points New York reported the
sacks of flour. statement that is out of har-
mony with speculative advices from the same
quarter Here it was old Hutch against the
rest of the professionals, with varying sue
cess Old Hutch seemed 10 have shade the
best of il on the general average. He is sup
posed to be long anywhere from 100000
10 5000, 900 bu. Everybody is waiting for
him 10 dump the load, but the old man has
habit of doing exactly the opposite of what
he is expected TO do. If he did throw his
wheat il might be a good thing, for many
people are deferred from investing through
fear that the market W i'll be called on 10 take
the stuff. The prices of May to-day ranged
at 9S5l2c, with the average about S5l2c.
Corn ruled steady and dull. The market re-
covered somewhat however, and closed firm
at nearly yesterdays last prices for every
thing except lard. At the afternoon session
there was fair activity. Wheat and pork were
steady. corn shade better and oats a shade
lower than at p. IN. $50 p. m. prices:
Wheat-January, 777sc: February, 7Sl2c;
March, 79I4c; May, s47sc. Corn-January,
4S94c; February, 49lse; May, 54ssc. Oats
February, 3ll2c; May, 3434c PorR-January,
S15.05: February, S15.l5; May, S15Q15.5O.
Lard-January, S7.62le; February, S7.65;
March. S7.75; May, S7.90@7.92l2. Short
Ribs-January and February, S7.s5; March,
S7.95; May, So. 1919.
THE ROUTINE REPORT
CHICAGO, Jan. 5.-May wheat opened at
69Ac, and there was an immediate squirt to
S5Ss@S5Iac under heavy buying. Corn
opened trife higher at 547sGl55c for May.
Under the influence of heavy receipts
of hogs, May pork opened sc OFF at
Sl5.55. The opening squirt III wheat was
short lived, and May fell back to S5c.
An hour after the opening all of the markets
were quiet and steady, with May wheat at
S5c, May corn 54Ssc, and May pork $3.50.
Pork then went to Sl5.45. and the bears tried
10 force il down, but il would not yield The
wheat and corn markets kept quiet during
the last half of the morning session, though
at one time there was a squirt in May wheat
10 s5Ssc, and then it held Steady for long
time at S5Lc. Nothing new developed in
provisions. The demand was fairly good for
pork, and by 12:30 May was steady around
Sl5.57l2. Lard continued weak. with sew.
eral people making efforts 10 sell, but meet
ing with but poor success. About l o'clock
there was a sharp bulge TO $3.50 S5l2c in
wheat, but there was free realizing, and it
dropped back TO S47sc. May corn went to
54S4c and back TO 54l2c.
THE QUOTATIONS.
The leading futures ranged as follows:
Mheat-No. 2, January, Use, closing at
Use; February, 7sssc, closing at 7sl2e;
closing at s47sc; Corn-No. 2, January.
49c, closing at 4ss4c; February. 49Ac,
closing at 49lsc; May, 547sc, closing at 54ssc.
Oats-NO. =, January, 32c, closing at 31l2c;
February, 31ssc; May, 35c, closing at 34s4c
Mess Pork, per -bbl-January, SIS, closing
AT S15.05; February, Sl5.O5, closing at
Sl5.l5; May, $l5.55, closing at Sl5.55.
Lard. per 100 lbs-January, S7.67l2
closing at S7.62l2; February, $40,
closing at S7.65; March, $3.50, closing
at S7.75; May, S7.97l2, closing at 81. 90.
Short Ribs. per 100 lbs-January, 81 77I2
closing at $3.50; February, 81 S2i2 closing
al S7.s5; March, S7.92l2, closing at S7.95.
May, $50, closing at SSl2I2.
Cash quotations were as follows:
Flour quiet and steady, No. spring
wheat 77s4@777sc; No. 3 spring wheat, 60
06Sc; No. red S4e; No. corn, 49c; No.
2 oats, 32c; No. Frye, 61l2c; No. 2 bar
ley, 73GS3c; No. l, flax seed, 81. 4O@1 .4O14;
prime timothy seed, S2.4I@243; mess pork
per Dbl, S15@15.O5; lard. per 100 lbs,
$50: short ribs sides Qoose), $3.50; dry
sailed shoulders (boxed). $6.1O@615 short
clear sides (boxed), SIS. 1O@S. 10; whisky,
dislillers' finished goods. per gal, 81 10;
Receipts-Flour, $4,000 bbls; wheat. AZ, 900
bu; corn, 255, 600 bu; rye, 5000 bu; oats
$1,000 bu; barley, $4,000 blu. Shipments
Flour. $4,000 bbls: wheat, 81, OOObu; corn
10000 bu: oats, $4,000 bu; rye, 1908 bu;
barley, $4,000 bu. On the produce exchange
to-day the butter market was good; fancy
creamery, 29l2@31c; fancy dairy, 24@26c
Eggs, 22A@24c.