St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-04-23
Wheat Opened Steady and Declined
Under Heavy Selling and Somewhat
Better Exports.
Oats More Quiet, With Slight Changes
in Prices---Pr0viSi0ns More
Active.
Transactions in the Financial Circles OF
Wall Street.-The General
Quotations.
Snecial to the Globe.


little trading for outside account and the
local element, left to itself, kept within close
bounds. as is its custom on Saturdays. Inc
market had closed weak last night, ana
ppened about Sac lower this morning, and
soon declined 140Ssc more under the offer
ings of holders who feared the drop would
On still further. At the decline, however,
there was good buying, the local talent evil
IDENTITY working for q reaction, and 1t came.
But ct the ton there was nobody to take the
wheat at the price, and the scaipers. IN
their efforts to even up over Sunday, SOLO
the market went down again'until about half
the early advance was lost. Holders OF wheat
and wheat bears had but one incentive to sell
to-day and that was found i'll the larger re-
eeipts of wheat in the Northwest, where the
movement had been expected to ease UP d
little by this time. But there is no easing up
In 18S, 900 blu of wheat i'll one day at MIME
apolis. Exports were better to-day put are
still small 1t is expected that the visloie
supply statement will show decrease OF
from 400, 600 to 500, coo bu. The bulllsh IN
luences we're rather better cables, talk thaC
the former big wheat bears had gone over 10
the other side and were buying for rise, ana
crop news. This last, as far as the winter
Wheat belt is concerned. does not chang &c
much in character, but it gathers intensity
rom day to day. Nearly all, if not all 'the
he commission houses, have reports of great
lamage to winter wheat, and the general
newspapers are printing news OF this klno by
he column The wheat bears think mat all
his damage has teen discounted, and mas
lad its result in the advance in price ALREADY
gained. Another kind OF crop news,
however, is only now becoming I'M
o ortant and that is from the spring
wheat seeding in the Northwest,
which the report now indicates Will De
considerably decreased i'll amount an account
of the lateness of the season. AS an offset TO
the big receipts of grain i'll the Northwest
the report Of the representative OF large
harvester manufacturer of this state was
given. lie said that their eighty-four agents
through Nebraska Minnesota and Dakota re-
ported the amount of wheat now remaining
In farmers hands less than they had ever
known it at this season. The seeding was
also much later than last year. Larger re-
eeipts and an increased proportion OF corn OF
the contract grade were the weakening factors
in the corn market this morning, particularly
In the May delivery, which opened just lie
under Yesterdays closing price. rms was
the bottom price for the day, however, as
at that figure From l4GDl2c higher, how
ever, the market held quite steady for some
time The selling did not appear to be for
short account so much as by longs, who III
the slowly dropping market despaired OF
doing better. That it was not short selling
was seen when two local scalpers bid the
price of May corn up from 5442c to
55Ec without getting much grain. In
trx-ipo uh
however, they ran the price down 4sc quite
as quick as they had put it up, but found no
buyers on the way down. the speculative
trade in oats was quiet, with very slight
change in price Provisions claimed consid-
cradle attention. Lard, however, again led
IN interest and activity, though short ribs
were traded in quite freely. and pork was by
no means neglected. The latter article was
also well held and at the adjournment showed
a decline of only 2I2@5c from last nights
final prices. Short ribs were confined to
narrower limits in their fluctuations and
rested unchanged to a shade lower. In lard
the buying of English houses was the feature
of the trade. They bought on bulges and
breaks, and with good following of shorts
covering they controlled the market. The
days actual advance in lard was 712c.
THE ROUTINE REPORT.
Chicago, April 2l.-The bulls in wheat
acted discouraged to day. There were many
who predicted last night that May would
touch S3c before the close to-day, because
the situation was so strong that the shorts
would dare to stay out over Sunday. the
opposite was the result. The longs finding
that there was 10 bulge on. TUNED in about
II o'clock and did some heavy realizing
The market early reacted point l2c under
the close last night, touching S0G4c for May.
This was due in part to the drop in May corn.
The best point Of the morning was SlS4c,
From this the realizing sales took the price
to 91$Sc.- If all the reports are sub
stantiated in the next ten days. the
bulls claim that there will yet be another
advance greater tIan realized so far. Clos
ing prices for the day and week for May
were S1SSc. Corn was very Irregular to-day
The local receipts were large So cars of No.
prices, but the official quotation was lie
lower for May at 34c. This was the bottom
price for the day. After selling at 545sc,
May again dropped to 54lsc and after hang
ing between 54l2@5434c most of the session,
there was q quick bulge TO 55lsc shortly
before the close and an equally sudden drop
back to 555sc at the tap of the closing bell.
In oats there was weakness early, in SYM
pathy with corn and a slight rally later for
the same reason. CLOSING prices were the
same as last night.
May sold at 3lS4c to open, down to 31l2c
closing at 31s4c. Lard was active and
stronger and advanced 15@1712c under buy
ing by strong parties. who have been alb
sorbing the offerings for several days past
When O leading buyer withdrew the market
became quiet and easier, values receded from
the outside and finally closed at 7l2c above
yesterdays last prices. May ranged at $50
and closed Zee lower. Trading decreased
and was mainly by scalpers. May sold at
S14.12l2@114.22 l2 and closed at 4.12l2
Short ribs were quiet and steady, and most
of the business being in changing trades
from near to distant futures at loo month
difference.
TIE QUOTATIONS.
The leading futures ranged as follows:
Wheat-No. 2, May, opened at lssc, closing
at 911sc; June, e2lsc closing at S2$sc; July,
s3lsc, closing at 93Ac; December, s4s4c,
at sac, closing at 54Ac June, 545sc closing
at 54Ssc; July, 54I2c, closing at 54lSc; Au.
gust, 53I2e, closing at 54Ac. Oats-No. May,
opened at 81 Ac, closing at 81 lac; June, 3 5Sc,
S SGspg Au at s$s c e ens s at s sosR M st
Pork, per bbl-May opened at $l4.15,
closing at S14. 1913; June, S14. 10, closing at
S14.17I2; July, $1450. closing at 81. 27,2.
Lard, per 100 lbs-May opened at $s.O2l2,
ss;o5; ygly, IS. OLA closing at s.; = l2ls Az
Ribs, per 100 ibsNMay, $3.50, clos.
ing at $780,. June, $40, closing
$3.50: August, $7.57A, closing at S7.57la.
Cash quotations were as follows: Flour
quiet but firm. Wheat-No. 2 spring,
S0sl@eONc; No. spring. 77079lkc; No.
2 red, SAGE. Corn-No. Q, 54A@54ssc.
Oats-No. 2, 31ss@31a4c. Rye-No. 2, 63c.
Barley-No. 2, 7712@7se. Flax Seed-No.
l.. S1.45. Mess Pork-Per Dbl, S141O0
Ribs-Sides Qoosel, $3.50; dry sailed Shout.
ders (boxed), S5.75@6: short clear sides
(boxed(, S7.s0@7. s5. Receipts-Flour, 81
900 bbls;. wheat 10000 bu; corn, l34OO
bu; oats, 10000 bu; rye. 1000 bu; barley,
wheat 10000 blu; corn, $4,000 blu: oats,
$4,000 bu; rye, 5000 blu; barley, 5000 bu
On the produce exchange to-day the butter
market was unchanged; creamery, 2O@22c:
dairy, 15@23c. Eggs in good demond;