St. Paul daily globe., 1888-01-26
THE COMMERCIAL WORLD.
The Shorts We're the Principal Buy
ers in the Wheat Pit
Yesterday.
Provisions We're Steady, With Tone
Of Strength Due to Light
Receipts.
Transactions in the Financial Circles
of Wall Street.-The General
Quotations.
Special to the Globe,

Special TO the Globe.
CHICAGO, JAN 25.-Wheat hardened this
morning and advanced $y@lsc on the de
crease of l,l2o.000 bushels III the amount
on passage TO the United Kingdom, ana the
continent. Nav wheat sold up 10 S2I46H
S2Ssc. The market is little oVersold Ill
spite of the general liquidation that has been
going on lately, and the least pause in the
doward progress of prices starts the shorts 10
covering. The shorts were the principal
buyers this morning. Corn sold up near the
opening TO 53c. Ii closed yesterday nj o2Asc
Provisions, too. were steady with tone OF
strength, due to the light receipts which
were 1000 10 6.0oO under the estimates.
May pork ranged from SI4 I21li.32l2 the
first hour; May lard. S7.33@ 7.51l2, and May
ribs, S7.67Ie@7T0. The market dragged
along until nearly the close Of the long seS-
sion, when some excitement was occasioned
by raid on pork which broke to S14. 10. The
onslaught was sudden and unexpected, and
came when everything looked and acted
Quietest. Wheat and corn had settled back
under a renewed short selling and continu-
alton which has been the feature of the trad
ing for several days past. The steady drip,
drip, drip, of long wheat and corn has tried
the strength of the market, and,
in the absence of concerted sup
port, il continues TO diplay symp
toms of fatigue. The old crowd of pro
fessionals are again ON top of il and pound
away daily. The tone of foreign advices is
not one of vigor. though the English and
continental markets are stronger than might
be supposed from the foreign news that per
colates through New York exporting houses
and reaches Chicago colo-ed to suit the views
of English consumers and their agents at the
seashOre. Ii is noticed that whenever the
foreigners get ready to buy they begin by is
suing gloomy bulletins. They are doing this
now, and the newspapers are full of this sort
of bearish rehaSh from the correspondents of
wheat brokers ana bear spectators. 1t must
be confessed that fIom the standpoint of
local speculatian the situation is not full of
especial promise. There was nothing but
scalpers' market III corn. Fluctuations were
limited and operations We're restricted TO
'home talens.n The tendency i'll corn as in
wheat was in the direction of a lower range,
but there was 10 news except that corn ca
bles were better. Receipts are rot up to eS-
pectationS. III provisions the decline was
checked by packing firm buying heavily.
At the afternoon session provisions were
firmer and May pork gained Zoe. Grain was
heavy and fairly active. closing shade
lower. 2:30 p. m.-Wheat-January and
February, 7ol2c: March, 76lsc; May Slssc
Corn-January and February. 47s4c; March,
4sc; May, 52*s@52sic. Oats-May. 33c.
Pork-January and February, Sl3S5: Nav.
Sl421l2. Lard-January and February,
S7.32l3; March, S7.37la@7.4 40; May. S7.52la
Ribs-January and February, S7.40; March,
$50; May. S7.65.
THE ROUTINE REPORT.
CHICAGO, Jan. 25.-There was 10 great
activity on change to-day. The slow drag
ging decline in prices for wheat and corn
was checked for a time during the morning
but the reaction soon came 10 an end. The
decrease of l, 200, 600 bushels in the amount
OF wheat on ocean passage caused wheat to
open little higher May being up Is61 lac at
S2c. From that figure il advanced To S2l4M
e2Ssc, and under free ffefing again reacted
and steadied at about Sc. About noon. the
local crowd who had got long Oh the market
began dumping their holdings and caused
May to break away 10 SlSsc, where il closed
Corn was without special feature to-day
trading being almost entirely local. \ some
what firmer feeling prevailed. however in
fuenced mainly by covering by local shorts
May corn opened ls@ l4c higher. at 52s4@,
.529sc, advanced to 53c, followed wheat down
and touched 525sc. and closed at 525s6T5oa.c
Oats were dull and lifeless, and sold within
lsQAc range. Provisions were quiet and
steady, and without features of interest I'D to
noon. Outside business was light and pro-
fesslOnals having ii all their own Way but
fluctuations were confined TO narrow limits
About 1890 the big bears made a sudden
raid on pork with the intention OF forcing
May below Sl4, when selling on stop orders
were expected to carry il materially lower
After breaking the market from Sl4 20 to
S1401l2. they desisted, and in few minutes
rally to Sl4.20 was witnessed The range
for the morning was S11.07l2Gf i.32Ia, and
the close at S14.27l2. Lard broke 5@7Iac
Short ribs dropped 7I2c but reacted and
closed steady. May lard sold at S7.5C@657I2,
and closed at S1.52l2; May short ribs at
S7.67I2@!.7O and closed at S7.65.
THE QUOTATIONS..
The leading futures ranged as follows:
Wheat-No. February, 76c, closing at
75l2c; March. 1Gssc, closing at 76Isc: May.
s2c. closing at S15sc; June, S2Isc, closing
at s2c. Corn - No: February, 471sc,
4sc; May, 52a4c, closing at 52ssc;
June 53c, closing at 527sc Oats-No. 2 May,
33c, closing at 33c. Mess Pork, per Dbl
I,,Febr4aTy; Sl3.S7i2, closing at $3.50; :;
per 100 lbs-FebrGary. S7.3j. closing at
S7.32l2: March, S7.42le, osing at S737I2 !;
May, S1.55, closing at S7.32l2. Short Ribs,
pp,o per lcS ,ndS lSs- F February, closing at
$50; May, S7.67l2, closing at S7.65.
Cash quotations were as follows: Flour,
dull and neglected; prices unchanged.
Wheat-NO. . spring, 75ls@76s:e; No. 5
2; 47g4c, oats-No. ., 3ac Rye~No. ?,
64c. Barley-No. 2, S40S5c. Flax seed
No. l. 1.44l2@I.45. Timothy seed-Prme.
S2.47. Pork-Mess, per bbl, S13.75@l3S so
Lard-Per 100 lbs, 81 .32l2. Short Ribs
Sides Qoose), $40: dry Salted shoulders,
Iboxedl. S3.g@6: short clear sides (boxedl.
S1.SoG7.9O. Whisky-Distillers' finished
goods, per gal, S1.13. Sugars-Cut loaf,
S@Sl2c; granulated, 73sc; standard "a -
6.sc. Receipts-Flour, 5000 bbls; wheat,
$1,000 bu; corn. 144,OOO bu: oats. 1856
900 bu; rye, 1000 bu; barley. $4,000 bu.
Shipments-FlOur. 81 900 bbls; wheat. Is,
600 bu; corn, $4,000 bu: oats, 1lS, ZOO
bu; rye, 5000 bu; barley. "a 600 bu. On the
produce exchange to-day the butter market
was inactive but firm: creamery, 22032c