St. Paul daily globe., 1888-06-07
The COMMERCIAL RECORD.
Rold Buying by the Bull Clique Forces
Up the Price OF
Wheat.
EcaVy Receipts of Corn Cause Sag
and Oats Close Very
Firm.
financial Operations in the Great
Money Centers---Tne General
Quotations.


Special to the Globe.
CHICAGO June Gall the news was pull
news for the wheat trade this morning. Ihe
most important was from Missouri to the ell
feet that the state board Of agriculture would
report the condition of winter wheat at ID,
as against n, in its last report. Colo ana I'M
favorable weather was also reported from
the spring wheat country. Moreover, the
passage statements showed a decrease in
the amount of wheat and flour on the way
to the United kingdom, of 100000 bu.
altogether it looked most favorable TO hold
ers aud there was steady advance of al
most cent from yesterdays closing figures.
Then came some reaction. Operations OF
the reorganZed bull party were not noucea-
bic in the general trade. The buying was by
everybody but after the first rush was over
it was noticed that Hutchinson was selling
on the ''strong spots.'' The process of
changing over from July into August
still continues and it is predicted that the
trade in the July delivery will have fallen to
very small proportions in fort
nights time. The board cable quoted
spot wheat in Liverpool firm with
fair demand at unchanged prices.
Futures unchanged. Corn ruled little
lower to-day under the weight of heavy re-
ceipts, 162 cars more than were looked for.
Nevertheless, the market showed considera-
bic strength at one time and closed only
4@sSc under yesterday for July. There has
been much talk of the market being held up
by Il bull CLIQUE" but the transactions in
the bit to-day did not confirm the theory. n
good shipping demand and a fair outward
movement help TO prevent any considerable
decline. Receipts of ears were 7G2 cars,
against an estimate of 600 cars, and of these
receipts 342 cars were of the con-
tract grade. The estimate is for $50
cars for tomorrow. The large outward
movements of oats served to make the specu-
lative market for that grain Il little firmer,
but the trading was not large and was with
out special feature. june oats sold up from
33lsc. at the opening to 33$sG33l2c, and
clU:ed at 1914. IN provisions the days range
of prices averaged higher than that of yes
tcrday. Initial sales of pork and lard were
made al sc and of short ribs at 7l2c advance
on last nights closings, and for Il brief time
the entire market was strong, pork even i'm
proving further 2l2c. The high prices pre-
yailing induced, however, treer selling than
the demand was able to absorb and a reac-
ton followed. From the highest figures
touched pork fell off 10c lard 712@110c and
short ribs 5@7l2c. The l O'Clock closings
also stood 2l2c lower on pork and 2l2@5c
lower on lard than last nights final prices.
III snort rlDS the Gay cnangeS showed an
actual advance of 213@5c.
THE ROUTINE REPORT.
CHICAGO, June 6.-Wheat had somewhat
theckered course to-day. but il was on its up
ward way. The combination having distrib-
utcd their holdings so as to put an end to
much of the talk of deal in any one future,
there was a better feeling here and else
where. At the opening this morning all
futures were just 18c higher than the close
last night. The advices favored the bulls.
pf tho local bullS bpp1I1 hnvino boldly
and July and August went up together to
S378c or about 1c better than last night.
Some realizing by scalpers and tailors eased
prices point or TWO, and later ii was dis
covered that the figures from Missouri show
ing decrease of condition for the month
from a 10 81 were not official and on this
July went back to $3.50 S6l2c and August
S3lac. December had sold up to SIC
early and eased off to S634c. Twenty
minutes before the close of the regular seS-
sion, the news of favorable exports caused
rally, and July again sold at $3.50, closing
al SJS4c When 1t was discovered that the
estimate of 600 cars of corn for to-day was
beaten by the actual receipt of 762 cars, of
course prices opened lower. The principal
trading was in July and August. July started
al 54l2c, 14@5sc under the close, sold down
10 54i4c, then up to 54S4@1547Sc last nights
price, and closed at 545sc: There was tirmer
feeling in the oat market Late in the day
33l2@y33S4c, and closed at 33l2@335Sc
fairly active speculative trade was
reported i'll hog products early to-
day; and prices ruled shade
higher. In pork opening sales were made at
> cent advance and a further slight i'm
prorement was gained temporarily. Later
an easier feeling prevailed and prices re-
ceded 7l26ll0 cents and the market closed
quiet. Sales of July were made at S14.17l2
Ml420, closing at first figure In lard much
interest was manifested and trading was
quite active. The opening price of July was
SS.I1l2, declined to $50, advanced to
IS 12I2, where it closed. Short rib prices
We're advanced 5@17I2c early in the day. but a
weaker feeling prevailed later and prices de-
olined again to inside figures and closed
quiet. July sold at S7.70@7.75 and closed
steady at $40.
THE QUOTATIONS.
The leading futures ranged as follows:
July opened at s5c, closing at S5a4c; Au-
gust, S47sc, closing at So34c; September
Slice, closing at S478c: Corn-No 2. June
onened at 5414c, closing at 54lsc; July,
ing at soc; September, 55c, closing at
53lsc. Oats-No. =, June opened at 3;lsc.
closing at 33Ac; July, 33l2c, closing at
53Ssc; August, 2S12c, closing at 2Sl2e; Sep
tember, 27!2c, closing at 27l2c. Pork-Mess,
per bbl, July opened at Sl4.25, closing al
Sl4.11l2; August. S14 Sc. closing at Sl4 27l2:
September, S14. .42l2, closing at S1437I2.
Lard Per 100 Lbs-July opened at SS. 77l2,
$50: October, ,SS. 80, closing at SS.77Ia Short
Ribs Per 100 Lbs uly opened at 81. rs.
closing at $40; August, S7.S2l2, closing
atS1.17l2; September. 81. 90 closing at s.. So
Cash quotations were as follows: Flour
quiet and steady. Wheat-No. . spring,
S4$i@ s5$Sc; No. red, S5@s7l2c. Corn
No. :, 54c. Oats-No. =. 334c Rye
No. =, Csc. Barley-No. .. 6S@69c Flax
Seed-No. l, SIPS. Timothy Seed-Prime,
s. 2I00215; Mess Pork-Per bbl, S141O@
14;13 Lard-Per 100 lbs SS. 60. Short Ribs
(boxedl ,$6@6.23. Short clear sides (boxed),
SS,100S.l5. Whisky = Distillers' finished
goods. per gal, S1.19. Receipts-Flour
$1,000 bbls; wheat. Al, 900 bu: corn, 4S9.-
900 bu; oats, 2S6, 900 bu; rye, 5000 bu;
barley, 5000 bu. Shipments-Flour, 21 900
bblS; wheat 2l,000 bu; corn, 254, 900 bu;
oats, 5000 bu; rye, 1000 bu; barley
1850 bu. On the produce exchange to-day
the butter market was more active at 14GlIS
for creamery; dairy, 12@16c. Eggs, l3lz
@l4c.