St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-11-02
THE COMMERCIAL RECORD.
a Panic in the Wheat Pit, Prices
Slumping Full Five
Points.
Corn, Oats and All Manner of Hog
Products Sag in Sym.
pathy.
financial Operations in the Monetary
Centers---Tle General Quota.
lions.
Snecinl TO The Globe

CHICAGO Nov. l.-Wheat was weak and
lower to-day closing almost i'll panic and
3Ac TO sc lower, Bear talk and bear trade
were against the market to-day and the bulls
also were sellers rather than buyers. Novem-
Der sold easily at SLIT and at noon Sl.lo&.
December sold from 81. 1919 down to S1.16
before O'Clock and May down to 81 1883 by
noon. The last half hour of the session
found every one selling and prices broke rap
idly closing at the bottom for the session.
The Northwestern contingent were selling on
the prospect of big receipts there and it was
rumored that Pillsbury was selling out his
holdings. The bear movement was favored
by the increasing of stocks and the small
movement of -four and wheat and increased
receipts in the Northwest. Deliveries day
were about 5000 bushels. Receipts were l39
cars and 10000 bushels by canal. Corn was
dull and lower, with but a fair business. Re
ceipts 354 cars, Deliveries were about 4OO,-
600 bushels. Oats were quiet and shade
lower. Receipts 20S ears. Provisions were
strong early but weakened OH free selling
closing sc TO 12lac lower on pork; 1l2c lower
on lard and 2l2c lower on ribs.
THE ROUTINE REPORT.
CHICAGO, Nov. I.-4Wheat ruled heavy and
lower to-day, with more disposition TO real
izc. The early action created Il fear that
some long wheat was coming on the mar
ket, and besides the general news was little
more bearish, though this did not in itself
signify lower market About 100000 BUSH
els of wheat were delivered on November
contracts. The dullneSs in flour is also hav-
ing some effect, and talk of wheat being
brought from New Orleans to St. Louis and
the almost total absence of export movement
from the seaboard were the reasons given for
the heavy feeling Receipts too, are increGs-
ing some, and the predicted falling off in the
receipts do not materialiZe. Instead the ar
inn
influences were not favorable to the
bull interest," and may have increased
the desire to sell. Considerable selling
credited TO the Northwest, especially toward
the close. Opening prices about l20s4c
lower, and declined for May to point 2l2c
below Yesterdays closing figures, then raj
lied s4c, but renewed selling and heavy mar
kets elsewhere effected further decline of
2s4c, and closed about 4Ac lower than yes
terday. The stock of contract wheat at the
principal points of accumulation is 90 per
cent against rs per cent one year ago. Corn
was quiet most of the session, though at
times trading was quite active, The feeling
prevailing was easy in the near futures,
while the more deferred deliveries exhibited
considerable strength. Opening sales were
shade better than the closing prices of yes
terday, and the volume of business was fair
and fluctuations frequent, the market clos
ing l lsc lower for November and ss0l2c
higher on other futures. Deliveries on
November contracts were reported rs
not being large, receivers sending out
moderate quantities. most of which went to
large local holder. In oats. aside from Il
fair trade in May delivery, the speculative
market exhibited little life, at the same time
steady market was quotable, as values were
not subject TO any material change. Mess
pork was moderately active at irregular
prices with the interest centered in January
delivery. Opening sales were made at 300
35c advance, but later in the day the feeling
was easier and prices settled back 2u@25c,
l,lD 4
the lard market. Some demand early, and
prices advanced 2l2@5c. but later the feeling
was easy and prices declined lO@12l2c, and
the market closed quiet. In short ribs a fair
trade was reported, chiefly in January and
May contracts. Prices ruled 56l712c higher
early in the day, but the advance was lost
THE GENERAL QUOTATIONS.
Wheat-No. 2November opened at 81. 1854,
closing at 81. 1879; December, Sl.19l2, clos
ing at $1:l5; January, SLY, closing at
Sl.l3; May, $1.20a4, closing at Sl.167s.
Corn-No 2 November, 4Ol4c, closing at
3S7Sc; December, 39ssc, closing at 3SAc;
January, 37l2e, closing at 35Ac; May, 39c,
b biGs oeen a at a4ssc Closing at 24se pe
cember, 2475c, closing at 247sc; May. 29c,
closing at 29c. Mess Pork. per bbl-Novem.
Der opened at S14.G5, closing at $l4.45; De-
cember closed at SLID; January, $l4 92la,
S14. 90. Lard, per 100 lbs-November opened
at So %, closing at Ss.l2 December closed
at S9.O7l2: January, $3.50, closing at $50;
May, S9.37la, closing at Ss.27l2. Short Ribs,
January opened at $3.50, closing at $7.42l2.
Cash quotations were as follows: Flour,
quiet and unchanged. Wheat-No. 2spring,
$1.13@l 1872; No 8 spring, 95@96c; No.
, red, S1.13G.1. 1872. Corn-No. =, 3ss4@
397sc Oats-No. 2, 244c. Rye-No. 2, 55l2c.
Barley-No. 2. nominal Flax seed-No. !,
SLY Timothy Seed-Prlme. ST 3O@I 33.
Mess pork, per Dbl, S14 90. Lard, per 100
lbs, SS.12L2; short ribs sides Qoose),
S7.45@7.50; dry sailed shoulders (boxed)
Se@9 %; short clear sides (boxed), So. l2I2
@s.25. Whisky-Distillers' finished goods
per gal, S120. Sugars-Cut loaf, SA@Sl2c;
granulated, 7I2c; standard A. 714c Receipts
Flour, 22, 900 bbls: wheat, 60, 900 bu; corn
2sO,0O0 pu oats, 223,O00 bu: rye, $4,000
bu; barley, $4,000 blu. ipments-Flour
5000 bbls; wheat, 10000 bu; corn, 244-
900 bu: oats, 14I,000 bu; rye, 5000 bu;
barley, $4,000. on the produce exchange
to-day the butter market was steady and
unchanged. Eggs steady, 19019lsc.