St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-06-18
80 a. :
yiIE COMMERCIAL MINI RECORD.
a General Spirit Of Liquidation Causes
Prices of Cereals to
Sag.
Wheat Closes a Cent Off, Oats the
Same, and Corn Even
Worse.
Financial Operations in the Money
Centers--.The General Quo
tations.
special to the Globe.
K&@

CHICAGO, June 16-The board Of trade
markets were dull this morning. Wheat and
corn opened tame and fairly lower. The
weather could not well be more favorable
for growing crops, and corn especially is I'M
derstood to be making extraordinary prog
ress on increased area. Crop advices from
the Northwest are glowing Gables are rather
easier, though representatives Of foreign
houses are picking up considerable grain at
current prices. July wheat sold down to
e1ssc this morning. and advanced to S2c be-
fore 1890 o'clock. Indications point to
reduction of 1000, 900 to $50, 900 bushels
in the visible supply this week. This will
bring stocks in sight down to the
heighborhood of 24O00.0O0 bushels.
Receipts of corn were 523 cars
and the out inspection about 100000 bu.
The early range was 51i2@52c for July, and
52lS@52l2c for August, Provisions were
rather steadier. July pork was quoted early
at $13.60@13. 67l2: July lard at $3.50. and
July ribs at S7.45@7.50. Wheat had no
friends today, judging from appearances.
July was beaten down to S07sc, further
sprinkage of lac from yesterday, and lac
from the best prices reached this morning.
December held up well, only declining l2c to
SAC, and August ruled l2c above July. The
troll of elevator companies, and is pI ocurable
off the market. 1t is never pressing for sale
at the market. The feeling at the
close was decidedly better than at any
time during the day and fully l2c above the
bottom. The impression is becoming general
that the market has turned. Corn followed
wheat to-day. ruling weak until late and then
firming up and closing at considerable recov-
cry from inside quotations. Estimated ar
rivals for Monday, $50 cars. Provisions were
featurcless TO the end.
THE ROUTINE REPORT.
CHICAGO June 16.-When business opened
on change to-day it was quite evident that
the spirit OF liquidation was general. There
were few exceptions and a few bold takers
of cereals, but this only served for slight raj
lies and checked the downward tendency.
By noon the CONSERVATIVE feeling gave way
to a renewal of vigorous liquidation. Large
quantities of long wheat came out. and July,
which opened unchanged at S21sc after sell
ing down 10 S1Iac early and returning to SIC,
or about the closing price last night, took
a second plunge and went to S07sc
with slight rally to S114c. AS against the
spirit of realizing and liquidation, there was
little TO encourage buying. Clearances were
small. There was some buying by exporters
for the continent but selling by British
agents. Tine weather and crop news grows
more bearish every day. The outside esti-
mate does not put the visible supply decrease
at over l.00000G bu. July closed at SLICE.
Corn was quite active to-day and at times
considerably excited, with transactions
heavy and at Il lower range Of prices
The bears were particularly favored by the
circumstances. The shipments yesterday
were light; the weather was the best possible
for the growing crops: wheat was panicay;
the estimates for Monday were large, and it
was figured that local stocks had increased
fully ]. 600 600 bu during the week. With
this array of facts on their side the bears
in wit rnn hn n,,,
dence. One dealer led the ball by buying
10000 bu July. and he was followed by
other large firms. while the small army of
lightweight professionals brought up the
rear. Values took wild plunge downward.
July opened at 555sc, and brought
up shortly after noon at 50l2. Here
there vas enough buying to pre-
vent further slump. Hutchinson was q
bottom. July closed at 50Esc. Oats suffered
decline under the combined influence of
good weather fine crop prospects and the
marked weakness in other grains There
heavy and saggng, with but little recovery
to the close. July oats fell from 33lsc
TO 32lsc, and closed with 32l4c bid.
Provisions were rather SLOW and weakened
early, in sympathy with wheat and corn, but
later became stronger and rallied, but last
sales were at practically the same prices as
Yesterday. Scalpers were the principal trad
ers but were not at all agsress iye. July
pOTk SOlu at NIO DUG Id. ~. ana cloSeu at
Sl3.61l2; July lard 1T SS.44laGl S52l2, and
closed at 50. i7l2@ $50. July short ribs sold
at S7.47I207.5U. Packing since March l,
1851 900 hogs. against $4,000 hogs the
same time last year.
THE QUOTATIONS..
The leading futures ranged as follows:
Wheat-No. 2 June opened at Sllac, closing
ut Sic; July S2lsc, closing at Slice; August,
S25sc, closing at 92c; December, S4a4c,
closing at S4$sc. Corn-No. June opened
S1p clnSnu q Stlp. Ju1y 1J25p closing
at 50ssc; August, 52lsc, closing at Sic;
September, 52Ssc, closing at 5lI2c Oats-No.
2 June opened at 32Ssc, closing at 32sBc;
July, 33lsc, closing at seize; August, 2S5sc,
261sc. Mess Pork. Per Bbl-July opened at
1880, closing at Sl3.67l2: August. $3.50,
closing at Sl377l2; September SI3 IS, clos
ing at S13.S7l2. Lard Per 100 Lbs-July
opened at $3.50, closing at Ss.47l2; August,
closing at $500; October, $3.50, closing at
$3.50. Short Ribs, Per 100 Lbs lily
opened at S7.45l2, closing at $3.50;
August S7.2zl?. closing at SOD;
Dull and neglected; winter, S2.15@4.60;
spring, S1.75Gl4. so: rye, 81 9GGD3 so. Wheat
No. 2 spring, so84@SIc. Corn-No. .,
49s4c. oats-No 2, 32l2c. Rye-No. 2, SIC.
S1.3o. Prime Timothy seed-s2. Is. Mess
Pork, Per Bbl-S13 6O@l362I2. Lard Per
100 Lbs-SS. 31l2. Short Ribs sides Qoose),
S7.45. Dry sailed shoulders (boxed). 500
6.25. Short CLEAR sides (boxed), Ss@S.O5.
WhiskyaaDistillers' finished goods per gal,
81 90. Receipts-FlOur, 1900 bbls; wheat,
$1,000 bu; corn, 434, 900 bu; oats, 245, 900
bu; rye, 1000 bu; barley. 1850 bu.
Shipments-Flour, $4,000 bbls; wheat, 49,
rye, GOO bu; barley, 700 bu. On the produce
exchange to-day the butter market was
easier; creamery, 15@19c; dairy, 13@17c.