St. Paul daily globe., 1888-06-13
THE COMMERCIAL RECORD.
Eheat Opens Weak, rluctua.es a Little
and Closes Shade Better Than
on Monday.
Corn and Oats Also Close at an I'm
prGvement, but Provisions Re-
main Dull.
Financial Operations In the Money
Genters---The General
Quotations.

July being the weakest, selling down to
S3ssc, December in the meantime going to
B4sc, a shrinkage of Sac. The market i'm
mediately rallied, however, and the recovery
amounted to l2c before 10 a. m. Cables were
weak and outside speculative influences
were bearish. This like yesterday, is a day
when statistics and nerve do not count. Corn
sold down I3c in sympathy with wheat, but
recovered quicker and ruled strong. Re-
ceipts were 100 cars, SO cars below esti-
mates, and receivers learn that load
ings at country points are unques-
tionably falling off. The local market is
heavily oversold, and reactions more or less
pronounced are looked for. July ranged
early at 515s@l521Sc. Provisions were heavy
and lower. July pork sold down to S13.77I2
the first hour, July lard to $3.50 and july
ribs to $3.50. There was more general busi-
ness transacted in the wheat pit to-day than
for some time past. Telegraph boys were
kept busy, and faces of commission mer-
chants were wearing brighter look. The
cheap prices now ruling are tempting the
outsiders to take hold. The public is not
grabbing wheat as it did when the price was
91I2c, but a better class of buyers are
aking hold. The pyramid builders are as
yet an absent quantity. 1t is not the kind
of market for them. 1t is the patient
SlOW-luONluS ccuSSTNdllNe IllcICIlttHI Cliiso VI
people who are again getting under the mar
ket. 1t was said to-day that Ream and Kern
had covered their lines of short wheat, the
break during the morning started by Stauffer
having been engineered to let them III at the
cheapest possii le figure. The general tone
of the market improved some during the last
hour of the long session, and even July
wheat craWled out of the slough
and obtruded itself into notice again.
Corn ruled strong at a gain of 1@1Ac from
the point of greatest depression reached yes
terday. The cause of this is the prevalent
belief, based on the very best evidence OBJ
tainable, that the movement of corn from the
country is likely to fall off sharply soon. The
farmers are entering upon a busy season
again, and their opportunities for hauling to
the railroads are fewer. Indeed, it is again
boldly claimed that the recent terrific squirt
has practically exhausted commercial re-
serves. However this may be, receipts for
the next couple of months, beginning say
with the first of next week, are likely to run
light unless prices should get to an extra
ordinary height. The outward movements
of corn and oats bv the lake route continue
active, vessel room being taken during the
past twenty-four hours for ], ,033, 600 bushels,
or 229,Ou0 of corn and S04, 600 of oats.
Lake freIghts were steady to-day at &c for
wheat, lac for corn and lac for oats. The
through rate to New York by lake and canal
is 5lac for corn and 4I2c for oats.
THE ROUTINE REPORT.
CHICAGO, June 12-Wheat to-day was un-
settled and an easier feeling existed, with the
various deliveries gradually settling into
their natural position. A feature of the mar
ket was the selling of August at a premium
over July and December at a wider premium
than yesterday. A good business was trans
tod irlo 1lufiy h..tt
and local account. The opening was about
the same to a shade easier than yesterdays
closing figures. but q tame feeling set in, be-
ing a continuation of the weakness yester-
day. which developed into a rather heavy
feeling. Fair realizing assisted the weak
ness, prices for July declined 1Is August
Is and December 5s. At this decline, better
demand developed which checked the de-
clining tendency and prices took an upward
course. with the deferred futures showing
the most strength. July advanced "a, August
1ls and December l 4, ruled a little Irregular
and closed for the morning ses-
1sc higher for August and Csc higher for De-
cember than the closing figures yesterday In
the afternoon an advance of ls@4c all
around was established Receipts show no
port clearances were larger and had
strengthening effect Corn was active and
in both the cash and speculative markets the
feeling developed was stronger. The market
yesterday. due to the receipts being nearly
100 cars less than expected; was easy for
time, declining Csc, influenced to a consid-
cradle extent by the easier feeling i'll wheat
Upon the decline an active demand sprung
up, several large houses buying freely, which
started local shorts to covering, and in do
Ing SO prices were advanced l4c. reacted l2c,
ruled irregular and closed for the morning
session 1@l1Isc higher than yesterday. On
the afternoon board there was further ad-
vance of l2@Ssc. For oats at the OPEN
ing there was weaker feeling
in the speculative market and without any
well-detined cause, only that the market was
dull. June delivery sold down 5Sc, and
other futures were Isc lower early. There
vas subsequently, better market, influenced
no doubt, by an advance in corn, and q good
cash demand for oats. The latter caused
July delivery to sell SS@Il2c higher and closed
at s4c improvement, and for other deliveries
The market became shade above yesterdays
final prices. The provision trade was little
weaker i'll its tone. Short ribs and lard were
neld quite firmly, but III pork an early break
of 15017l2c was suffered under the unload
ing OF moderate amount of long property
Later, however, pork recovered good share
of this depression, and at l o'clock was only
2l2Q5c underlast nights closing, but. in the
afternoon, there was further reduction of
2l2@5c. Short ribs closed unchanged. Lard
unchanged at 2l2c lower. The days gem
eral business failed to show any particular
increase, and made poor showing.
THE QUOTATIONS.
The leading futures ranged as follows:
WhsatmNo, July opened e1Na at slssc, closing
September, S3l2c, closing at S414c; Decem-
Der, S5l2c, closing at S6Isc. Corn-No.
June opened at 5 l12c, closing at 52I2c; July,
52c, closing at 53c; August, 52I2c, clos
ing at 5312c; September 53lsc, closing at
53lsc. Oats-No. 2 June opened at 321sc,
closing at 32Ac; July, 32lsc, closing at
S2Ac; August 2Sc, closing at 2Sssc; Sep
tember, 27lsc, closing at 27Ssc. Pork. Mess,
Per Bbl-June closed at S13.75; July opened
at S13.95, closing at S13.S5: August,
$14.O2l2. closing at S13.95: September closed
at at SI4io5; - Lard Per 100 sLsbs1July opened
SS.67I2 closing at SS.67I2; OCTOBER, SS. .62l2,
closing at SS.6712. Short Ribs, Per 100 Lbs
July opened at $3.50. closing at $3.50:
sep5ember, SER, s7:75, closing at SIS SIS:
Steady and featureless. Wheat-No. 2
spring, e3l30S4c; No. 2 red, S4a4c. Corn
No. 2, 5212c. Oats-No. 2, 32c. Rye
No. 2. 5sc. Barley-No. 2, 65@67c. Flax
Lard-Per 100 lbs. $3.50. Short Ribs sides
Qoosel, $3.50. Dry salted shoulders (boxed),
S6@6.2o: Short clear sides (boxed), $500
S.l5. Whisky-Distillers' finished goods
per gal, 81. 20; sugaIs,cut loaf, 7ASsAc;
bn; corn, $4,000 bu; oats 29s, 600 bu;
rye, 6,000 bu; barley, 6,000 bu. Shipments
Flour, 5000 bbls; wheat $4,000 bu;
corn, GG,00o bu; oats, $1,000 bu; rye, 5000
change today the butter market was mod
erately active; creamery, 15@19c; dairy,
13A@l7c. Eggs firm; Northern, 14@14lac.
xR. M. NEWPORT & SON,