St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-04-20
the COMMERCIAL RECORD.
Another Break Was Made in Wheat Yes
terday, and 1t Dropped Off An
other Cent.
Provisions We're Again Strong. Lard
Making Quite an Advance Over Yes
terday's Quotations.
Transactions in the Financial Circles OF
Wall Street.-The General
Quotations.
Special to the Globe.

Special to the Globe.
CHICAGO. April 19.-Another load OF long
wheat was dumped on a reluctant market
this morning, and the price declined ABOUT
lie from yesterday mornings closing range
Nav standing 7915c, June S0Sec and July
Slssc Hutchinson was heavy seller Oh
the curb and at the opening on change. as
sisting materially to depress the market. On
the decline there was strong. concentrated
and good general buying, and the market
rallied Sac, holding quite firm at the I'M
provement. Crop reports are coming III
worse every day from the winter wheat sec
tons. MAY corn sold down to 55Ac' ana
June to 54Ac. A sharp recovery OF asc fol-
lowed. Receipts to-day were 127 cars, FRO
visions were firm, lard noticeably so. Dur
ing the first hour lard advanced 10c. Early
quotations were S14.10@I4.15 for May
pork, S7.77l2@17.95 for May lard,and S1.2I12
@7.3O for May ribs. The wheat market is
getting too broad for the attitude OF 1ndl-
vidual operators to insert an important IN
fuence Nevertheless the crowd is keeping
close watch on the big ones, and as they
get in and out of the market, the facts NEIL
toned as rather large-sized incident III cur
rent speculative history. For lnstance,When
Cudahy turned bull and next day became an
open seller, the fact was considered OF no
little importance and it really Influenced
many of the smaller traders. To-day 1t is
given out that Cudahy, Phillips and BILLY
Lynn were again ranged on the Dull size,
taking back at profit the wheat they had
sold on bulge. Ream is doing very little. lie
recognizes the fact that it is bull market
and dangerous one to fool Without not
feeling bullish himself he is playing the part
IF o,,1O 10 mo occasionally
for the top in an experimental fashion, but
he is not doing any plunglng on the short
side Partridge and that school of short sell
ers are rplaying cautiously if at all. The
fate of Nose Fraley has impressed them with
the living danger of bucking buzz saw.
The weather map looks bad for spring wheat
prospects Dispatches from Dakota were re-
ceived to the effect that week or
ten days of favorable weather
must intervene between now and
the beginning of seeding in the Red river
valley, Dakota great harvest field. The sig
nal service reports do not indicate that ia
voraple weather. has yet made its appear
ance, and the thermometer registering from
20 to 80 deg. and the whole country Tar to
the West and Northwest still being in the
area of ''high," Theoretically considered.
Duluth telegraphs that the country elevator
stores are now down to 100000 blu, with
only 5000, 900 bu in the farmers hands to
come forward. This is about one hall OF the
quantity that was available on the CORE
spending date last year. Cables are steady,
and the -four trade is in very healthy state,
millers being sold q good way ahead, as
rule, and grinding to their full capacity. The
experts who are securing the winter wheat
country have only bad news 10 send in. and
their reports get worse. ST. Louis is contrib
uting to the stock of bad news The public
is taking lively interest III speculation, and
on the break to-day bought freely, The
price was crowded up from 19l2c to SlS4c
during the forenoon. last prices being at
top, and the temper of the market was pro-
nouncedly bullish. as it was every day the
past week-indeed, it was worse. To add to
the bull enthusiasm, it was reported that the
Price Current would present revised esti-
mates, giving the condition of wheat i'll Hi
nois, Indiana and Ohio as about so. Reports
representing the condition as even worse
than that are pouring in. Corn frmed up in
sympathy with wheat later on, and several
times touched sec or the immediate vicinity,
but it must be confessed that the edge of the
boom has turned Foss, Strong d Co. were
the big buyers this forenoon, and the country
for tomorrow are 1875 cars, and the move
ment is now likely to steadily increase. The
reductions of freight from Mississippi points
will have a tendency to swell the movement,
and as corn is getting in better condition
and the day is at hand when the inspection
department can with safety relax the severity
of its inspection, the bears feel encouragedt to
believe that the market is now on the back
track. The bears have been so often disap-
pointed, however, that they would hardly
feel the pain of q fresh sting. Believers in
Csc corn are far from being extinct. Lard
was the strongest thing on the hog product
list May advanced to So and June to $S.O5,
q gain of 22l2c from yesterday. The adj
vance was due to the great demand for cash
lard Ribs improved little, and pork was
strong, but not in the least bulgy. At the
afternoon session there was more sensational
buying in wheat and the price advanced Ac
and closed l2c higher. Corn and oats were
steady. Provisions firm and slightly higher.
THE QUOTATIONS..
The leading futures ranged as follows:
Wheat-No. 2, May, opened at e0Ac, closing
S2I2c, closing at 84Ac: December, S3s4c,
closing at 95a4c Corn-No. 2, May, opened
at 5512c, closing at 56c; June, 5412c, closing
at 55Ssc; July, 547sc, closing at 55Ssc; Au-
guSt,04aSC, CLOSING at oO9Sc. OalS-NO. May
opened at SIC, closing at 3212c; June, 3134c,
closing at 325sc; July, SIC, closing at
325sc; August, 2S14c, closing at 29c. Mess
Pork, per bbl-May opened at $14.1O,
closing at S14 25; June. $14l7l2, closing at
$1425; July, SLIPS, closing at $14.37l2.
Lard, per 100 lbs-May opened at S7.77I2,
closing at So: June, $3.50, closing at
$9.O5; July, S7.S715, closing at IS. 10; Au-
gust closed at S8.12l2. Short Ribs, per 100
lbs-May, $3.50, closing at $7.37l2; June,
$7.35, closing at s.. So; July. $7.45, closing at
S7.5212: August, $7.52l2 closing at $7.62I2.
Cash quotations were as follows: Flour
Firm and unchanged, Wheat-No 2spring,
sic; No 8 spring, 8212@S3c; No. 2 red,
S412c. Corn-No. 2, 555S@55S4c. Oats-No.
2, 31&@32Ac. Rye-No. 2, 62l2c. Barley
No. 2, 77l2c. Flax Seed-No. l, $1.45.
Timothy Sced--Prime, S2.65. Mess Pork
Per Dbl, SID 70l420. Lard-Per 100 lbs,
81. 97l2GlS. Short Ribs-Sdes Qoose), 1900
7.35; dry sailed shoulders (boXed) So. 1906;
short clear sides .CboxeD, S7.7o@7.75.
Whisky - Distiilers' finished goods, per gal,
81 Is. Receipts-Flour. 81 900 bbls; wheat
$4,000 bu; corn, 70 600 bu; oats, 90 900 bu;
rye.22, 900 bu; barley, Is, 900 blu. Shipments
Flour, 1000 bbls; wheat, "a 900 bu; corn,
$4,000 Du; oats, $4,000 bu; rye, 1000 bu;
barley, 5000 blu. On the produce exchange
to-day the butter market was quiet and
unchanged; creamery, 20@l25c; dairy, $50
24c. Eggs, weak at 12l2@l3c.