St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-07-17
THE COMMERCIAL RECORD.
Bad Crop News and a Strong Bull Feel
ing Give Wheat Slight
Boost.
In Corn and Oats the Tendency Was to
Easier Prices, Provisions Ruling
Firmer.
Financial Operations in the Money
Ceuters---The General
Quotations.
Special to the Globe.


CHICAGO, July 16.-The featuSe Of to-day's
market was the receipt Of cables from
France indicating great damage to French
and Russian crops, through wet weather.
This, together with Hutchinson's immense
unloading through William Young Co.
and his o@n regular men, were the features
which kept the day from dullneaS There
was quite a trade in August around
SOC in moderate orders. with the orders
well distributed; the houses with foreign
connections being the buyers and the local
longs the sellers. Corn opened strong, with
some pressure to sell. The influence OF the
wheat market was shown in the corn pit,
but the reports of fine weather and the i'm
proved estimates weakened it considerably.
The local corn pit temper has been extremely
bearish of late, every one trying to kick the
market down to the best of his ability. This
was greatly aided by the causes already men
toned. The liberal receipts were also bear
feature. Provisions were decidedly bull!sh,
mess pork showing an advance over Satur-
days closing figures of 22l2025c, lard of 10
@1212c, and ribs of 12l2@15c. There was
fair speculative trading, but an exceedingly
nervous feeling prevailed throughout. The
demand for cash production continues fair.
Stewart bought 100000 lbs of ribs alto
morning shows decrease of 616,OOO blu in
wheat, S37, 900 bu in corn, and 100000 blu
in oats.
THE ROUTINE REPORT.
CHICAGO, July 16.--The feellngin wheat to-
day was plainly bullish, and there was no
plunging about in the pit, but, after the OPEN
ing at s4c over the close Saturday, there was
an active market within &c range most of the
session. with prices held pretty close on 1c
advance for the most part. The bull news
most apparent was the strong cables and the
fair export demand, with spot wheat Id
dearer at Liverpool. There were also con-
siderable bad crop news, but, in the words of
well-informed broker, sit is almost heresy
to talk or publish it, as we will surely be
laughed att Export clearances at New
visible was $4,000 bu. Prices ranged for
August soc up to S0ssc, down to 797sc, up
again to S0Ssc, and shortly before the close
steady at SOHc, or lie over Saturdays close
active and the feeling, generally easier.
The market opened at about the clos
ing prices Of Saturday, was steady fer
time, then became easier, selling off
5s@ac, reacted A@s5c, then became
steadier and closed 1s@Ac lower than Satur-
day. The influences governing the market
were largely local. The visible did not show
as large decrease as generally expected, and
the estimated receipts for tomorrow are
larger, which has a tendency to create a
weaker feeling. Local stocks decreased
LOO, 900 blu. The shipping houses were
buying moderately to-day. The visible de-
creased S46. 900 bu. The cash market was
steady, there being fair demand for both
the lower and better grades, and prices were
140l2c easier. Withdrawals from store here
continue rather liberal, with a large proper
ton grading contract. In oats the tendency
was to dizziness and easier prices. This was
due to the influence which unfavorable
markets for other cereals eXerted. In view
of the decline which elsewhere occurred, the
changes in speculative deliveries of oats
were slight and showed that there was
still some soundness underlying the
market July delivery was in moderate
request, and ruled an even Ac higher;
but new crop deliveries ranged 1slAc lower
though closing quotations exhibit no essen
tai change from the closings of last week. A
firmer feeling developed in provisions. and,
although closing prices on all speculative
articles were not at extreme outside figures,
an advance of 22l2c over Saturdays clos
ing. figures was recorded on pork, 12I2c
on lard and 12l2@15c on short ribs. The Of
ferings of product were small and the repur-
chase of 5000 barrels of pork sold Saturday
through a new set of brokers to-day created
the impression that big operator wanted to
cover his shorts, and the price was advanced
25c but reacted 7I2c, August selling at S13. 20
@13.45 and closing at S13.3712; January
So. S0@12.S5. English houses bought the
lard and August sold at SO. 2o@S. 3212 and
closed at the top. January at 7.45@7.52la
and closed at S7.52la. Short ribs for Au-
gust sold at 81. 60@7.70 and closed at $40;
January at S6.52l2@6.55.
THE QUOTATIONS.
Wheat-No. July opened at S1ssc. closed
at s1ssc; August, S0c closed at SOIsc; Sep
TENDER. soc, closed at soc; December, S3c
closed at s212c. Corn-No. July opened at
at 477sc; September, 474c, closed at 46S4c;
October, 46Ac, closed at 1870. Oats-No. 2
July opened at 31c, closed at BOISE; August
257sc; closed at 25ase; September, 25Ac,
cod nfs DGas nnf rINn IN a1N lot
Mess Pork, Per Bbl-August opened at
$500, closed at $I337I2; September,
$3.50, closed at Si3.45; october, S13.25,
closed at S13 ;35; January, Sl2. 80, closed at
Se27l2, closed at s.37I2; october. Sc. 80,
closed at SS.37l2; January, S7.45, closed at
S7.52l2. Short Ribs, Per 100 Lbs-August
Ssss5s%Der a. .,s sissed st III
Cash quotations were as follows: Flour
Steady and unchanged. Wheat-No.2 aspiring,
red, SIC: Corn-No. 9, 467sc. Oats No 2,
3Os4031c. Rye-No. 2, 53c. Barley-No.
2, 62@63c. F'lax-No. l, 81 .O9@1. 10. Tim
othy seed-Prime, $40: Mess Pork per
$3.50. Short Ribs-sides doose,, s7e5S
40; dry sailed shoulders, (boxed), $6.5O@
6.65l2; short, clear sides, (boxed), $500
s.15. Whisky. distillers' finished goods,
wheat Ia, 900 blu corn. lie, 900 bu ;oats, 169,-
600 bu; rye, none; barley, 1000 blu. Ship
ments-Flour. 49, 900 bbls wheat, 81 900 bu:
corn, 4Ol 900 bu; oats, $4,000 bu; rye,
1000 bu BARLEY, 900 bu. On the produce eX-
change to-day, the butter market was fair;
creamery, 15l219c; dairy, 13@17c. Eggs
higher, wanted; fresh candled, 14G15c.
r. M. NEWPORT & SON,
Investment Bankers.