St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-05-10
The COMMERCIAL RECORD.
Wheat Opened Rather Tame, but Ad-
vanced Over Two Gents and
Closed at The Top.
Corn Showed a Small Advance, but Pro-
visions We're Slow aud Weak at
Tuesdays Prices.
Transactions in the Financial Circles of
Wall Street.-The General
Quotations.
Enecial 10 the Globe

Special 10 the Globe.
CHICAGO, May 9.-Wheat advanced 2Ac
during the morning session, and closed at
nearly the top price. The opening was
rather tame, at a little under Yesterdays
closing price. Kammerer was the first heavy
buyer, and Mitchell and Linn soon followed.
Almost every commission house had buying
orders. To all this demand was added that
of local shorts as soon as the price began to
advance. Longs were realizing profits all
the way up, but their grain was absorbed,
and, with one or two exceptions, without
causing a halt in the upward movement.
There were two or three stopping places
where the realizing was more general, and
reactions of 14c occurred but when those
longs who were willing to part with their
grain had done so, the upward move
ment was again resumed. There seemed TO
be very little disposition to sell wheat before
buying it. The bears were doing nothing
alternating, as it were, for the present.
Exactly the same thing that discouraged
short selling stimulated the demand, and
that was the expectation of the government
crop report, which viii be here tomorrow.
Everybody with faith in wheat wanted some,
and the bears were quite willing to wait until
the effect of the document was known. The
winter wheat markets were very strong, and
there seems 10 have been sudden apprecia-
ton of the values of winter wheat here.
The corn market was a little firmer, and
scored a small advance, apparently from
sympathy with the strength in wheat. The
trading was light and without special feat
ures. Receipts, present and prospective,
are comparatively small, and it is q part of
the gossip of the floor that the owners of the
oh 1. y L.
ting up on their pressure of the shorts for
that month. so that the inducement to ship
corn here shall be lessened. The influence
of the strong wheat market was also felt to
some degree in oats, which made slight adj
vance, but with only moderate trading and
no special features. The provision trade
was IN rather slow condition. No radical
change occurred in values, yet the feeling
had weaker turn than on either of the for
mer days of the week. and the market ap-
peared to be wanting in active support. Still,
at l o'clock pork rested at lastnight's closing
TO 2l2c higher, lard at the same TO 2lac lower
and short ribs only 2l2Gl5c lower. At the
afternoon session there was great activity in
wheat, which was sold within SIC range
and Ac higher than L p. M, but closed
steady at 1 p. m. prices. Corn and oats were
q shade higher Provisions unchanged,
THE KOOIlNE REIOhI
CHICAGO, May 9,-Everything else gave way
to the interest in wheat this morning on
'change. The long-looked-for second bulge
came, and came strong. There were no new
arguments and no startling news, simply
heavy buying by few leading operators, and
the crowd was soon with them. The open
ing prices indicated nothing, as they were
the same as last nights closing, but within
two hours wheat took Il jump of about &c.
The first thing TO initiate the upward turn
was the estimate of King. of Toledo quitting
the crop i'll Ohio at 90, against 69 in April.
Then 1t was generally believed that the
washington report, which is due tomorrow,
will confirm the worst prospects published,
and operators took hold to-day in order to
get the full benefit of the bulge, which is an
tcipated after the publication of the report.
Perhaps the influence more potent than all
else was that of the country. Several hun
dred commission men found buying orders
from the outside and the aggregate de
mand enormous. May wheat opened
at S4l2c. July opened at SAC.
sold up to S65sc and closed at S6I5c Corn
was duh and the range of prices would have
been even less had not wheat helped it I'D
some There was some buying of May within
narrow range between 565s057c, with the
close at 56S4c. July sold at 55$Bc, up to
55Sc, and closed at 55S4c, or SBc6ll2c over
last night. The influence of the strong wheat
market was also felt to some degree in oats,
which made a slight advance but with only
moderate trading and no special feature.
May oats sold up from 33$sc to 34lSc and
closed at 34c. July sold from 3284c TO the
closing figure 33c. The market was TOO al
Turing for traders to give much attention to
provisions and only those who never trade
in anything else but hog products conducted
what little speculative business there was.
Offerings on products were moderate but
demand small and an easier feeling devel-
oped; July pork opened at SD. 32l2, sold at
$4,000 40 and closed at $14.32l2. July
lard sold at $S.22l2@S.30 and closed at
SS.22I2. July short ribs, $7.65@l7.70, and
closed at $762l2.
THE QUOTATIONS..
The leading futures ranged as follows:
Wheat-No.2 May, opened at S25Bc, closing
at S4l2c; June, S3S8c, closing at $3.50; July,
S4Ac, closing at S6l2c; December, S6l2c.
closing at sS7sc. Corn-No. May opened
ing at 555sc: July, 55SSc, closing at 55S4c;
August, 55l2c closing at 5534c Oats-No.
2 May opened at 33$Sc, closing at Sic: June.
33c, closing at 33Ac; July, 32S4c, closing
at 33c; August, 2S4c, closing at 2Sl2c.
Mess Pork, per bbl-June, opened at $l4.25,
closing at Sl425; July, S14. 32l2, closing at
4.3242: August S1422l2, closing at
S14.42l2. Lard, per 100 lbs-June opened
closing at SS.22I2; August, S. 80, closing at
SS.27l2; September, So 32l2, closing at
SS.32l2. Short Ribs, per 100 lts-May opened
at at s. S7,52l2. closing eI at $1.52!2: June,
at S7.67l2; August, S7.75, closing at 81 .72l2
Cash quotations were as follows: Flour
quiet, firm and unchanged. Wheat-No. 2
spring, S4A@as4l2c; No. 2 red, Ole. Corn
No. 2, 56S4c. Oats-No. ., 33s4@34c
Rye-No. 2, 6312c. Barley-No. 2, 77@
7sc. Flax seed-No. l, $1.45. Timothy
Prime seed, $3.50. Mess pork, per bbl
Short ribs, sides Qoose), S7.5O@7.60. Shout
ders dry sailed (boxed), S6@625; sides,
short clear (boxed), S8.O5@s.lO. Whisky
Sugars-Cut loaf, 75s@Ss4c; graduated. &c:
standard "a, 6I2c. Receipts-Flour. 81, 900
bbls; wheat, 1000 bu; corn, 24l, 900 bu;
oats, 1S5, 900 bu; rye, 10000 bu: barley,
$1,000 bu. Shipments-Flour, SO, 900 bbls;
wheat 5000 bu; corn, $4,000 bu: oats.
10000 bu; rye, 10000 bu; barley. 10000
bu. On the produce exchange to-day the
butter market was firm and receipts light;
creamery. 20025c; dairy, 1928. Eggs firm
and in light receipts; quoted at 12l2@13c