St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-08-02
The COMMERCIAL RECORD.
The Chicago Wheat Pit Again Char
acterized by the Widest of
Fluctuations.
Corn and Oats Show Somewhat
Stronger Tendency---The Pro-
vision Market.
The New York Stock Market Opens
Somewhat Weak and Unsettled,
But Closes Strong.
Special to the Globe.

Special to the Globe
CHICAGO, Aug. LIN spite of bearish tele-
grams from public and private sources
wheat had decidedly bullish look at the
opening to-day. This was mainly attribu-
table to the deliveries. which were very light
September opened at 1880 with jump of
! Ac over last nights close, and in a few
minutes it was almost impossible to get any
wheat except in scattering and very small
lots. Things ran along this way for some
time; then Jack Cudahy came in and I'M
loaded a long line of wheat depressing the
market and making it exceedingly nervous
and inactive, so much SO that buyers were
as scarce as sellers had been a short time
before. This easing off was followed by
another reaction in the shape of an advance
due to the taking of 100000 bushels for
exports from Milwaukee since yesterday
noon, and the working of 100000 bushels
OF NO. Chicago cash spring wheat by
Hotely Bros, of this city, for the same pur-
pose. There was a good general trade in
corn, but the market was restricted by light
offerings. The tone was generally firm, al
though the scalpers were principally en-
gagged in watching wheat. The closing fig
ures were higher for all months. The deliv-
cries i'll pork were Is, 600 barrels; in lard
5000 tierces. There were no ribs delivered.
The provision market was strong with good
general demand both for export and home
consumption. Pork closed 2O@25c higher,
lard 2l2c higher and ribs 242@5c higher. The
estimate of hogs for tomorrow is $4,000
head. Armour was the heaviest buyer of
lard and Hutchinson of pork.
ROUTINE REPORT.
CHICAGO, Aug. 1.-The excitement in the
wheat market continues, and the movement
Lot n1r1nC tn nInp lQfn
lied by the widest of fluctuations. 1t has
come to be a common occurrence for the
daily changes to cover 2-cent range, and
interest in the deal at this point shows no
dously heavy trading to-day, fully as large as
that of Monday, and the market again
changed from it. The down turn yesterday
the local crowd got short, and in the rush to
sharply, opening figures for the leading fut-
ures being 11BGl 4c above yesterdays clos
ing range. Later a further advance of s4@1
7sc was secured, and reactions though frequent
were only natural. The feature of the day was
the contradictory news from abroad. Public
cables read: "Spot wheat easy and lower:
grain futures easy, with prices tending down
for wheat" Private cables were, in ma
jority Of cases, extremely publish" in Tone
and as these were generally accompanied by
generous buying orders, they appeared to
have by far the greater influence. There
We're practically no deliveries to-day on ma
and one that helped the sensational buying.
New York parties bought largely in this mar
ket to-day, and all surrounding markets were
higher. Prices for September wheat eased
Oft l2c from the highest point touched dur
ing the last hour. but there was a net gain
for the day in the leading futures of l2@1Ssc.
An export order for 100000 blu of No.
2 spring was filled here, and another 160, 600
named. A good speculative business was
transacted to-day in corn, and the feeling
developed was quite firm. There was good
general buying all day, while the offerings
opened considerably excited, at A@12c ad-
vance over the closing prices of yesterday;
was firm and advanced 1c, reacted ssc, and
closed 11s@1ssc higher than yesterday. De-
nothing, showing that shippers hold con-
siderable corn, and this, together
with the active demand for cash., Gre
ated considerable strength, The quanti-
crease. The more deferred deliveries were
in better demand and ranged higher. In oats
firm feeling prevailed, with prices showing
SAC advance for August, and A@l2c improve
ment for deferred futures. There were no
deliveries on August contracts; the reason
for this was said to be that stocks, consisting
mainly of old oats, were held at premium
over August or new oats prices. The arrivals
to-day were also much below the estimate of
yesterday, and the up-turn in wheat and corn
was an important factor in stimulating the
demand. There was quite free covering by
shorts" The interest in provisions
centered in pork which was active stronger,
and prices advanced soc from opening
prices but receded 71ac and closed at net
gain of 2242 cents. Deliveries of August
contracts We're light, being $4,000 to 5000
bbls. Outsiders sent in fair buying orders.
Local shorts also bought literally. Offer
ings were not large and prices were easily
bid up. September opened at Sl4, 65@14.95
and closed at 14.S7l2. Deliveries on lard
oh nr1tS Troh iy,cx I'D
crate and price changes small. September
sold at SS.97l2@9.O7I2 and closed at 50.
No short ribs were delivered. Spectators
took hold lom Dc so and esed sd
$3.50, a net gain over yesterday of 2l2@5c.
THE QUOTATIONS..
The leading quotations ranged as follows:
Wheat-No. 2 August opened at S3s4c, clos
ing at $3.50; September, &c. closing at
cember, sec, closing at s6$sc. Corn-No.
August opened at Acc, closing at 47c;
September, 45s4c, closing at 46S4c; October,
45Ac, closing at 46Ac; May, 4Oc, closing at
closing at 244sc; September, 24c, closing
at 24Ac; october, 24Ae, closing at 24Iac;
May, 27s4c, closing at Csc. Mess Pork, per
bbl-August opened at S14.5212, closing at
sszs s eefobe1 e iiiefag at
$14.s7l2c; January, 1885. closing at
$3.50. Lard, per loo lbs-August opened
at SS.97l2, closing at SS.9112; September,
SS97I2c, closing at 50; October, $3.50, clos
ing at $3.50; January, $3.50. Short Ribs,
per 100 lbs-August opened at Ss.42la,
closing at $3.50; September, $3.50,
closing at $50; October Ss.45, clos
ing at SS.52l2: January. S6s5.
Cash quotations were as follows: Flour
quoted firm at an advance of 1O@15c over
last weeks prices. Wheat-No. 2 spring.
s5l2@s6c. Corn-No. 9. 471s@47Ac. Oats
No; 2, 2s@2sl2c: Rye-No. 2, 46l2c. Bar
ley-No; 2, &c. Flax SeedaNo. l, S1.1OA,;
prime timothy seed, So. 35@2.4O. Mess Pork
Per Dbl. sl4.75@14 So. Lard-Per 100
lbs, SS.95@s.97la Short Ribs-Sides Qoosel,
$3.50; dry sailed shoulders, (boxed), S7.25
@7.4O; short clear sides, (boxed) 500 &c. 100
$50. Whisky, distillers' finished goods, per
gal S1.2O. Receipts-Flour, $4,000 bbls;
wheat, $4,000 bu; corn. 33S, 600 bu; oats,
10000 bu; rye, 5000 blu; barley, 1000
bu. Shipments-Flour, 1000 bbls; wheat,
$4,000 bu: corn, $4,000 bu; OATS 200
bu; rye, 1000 blu; barley, 1000 Blu. On the
produce exchange to-day the butter market
was quiet; creamery, 14@17c; dairy, 12@
15lsc. Eggs easier; fresh recandled, 13s4@