St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-11-28
The COMMERCIAL RECORD.
A Sudden Bulge in the Wheat Market
Surprises Both the Bulls and
Bears.
Corn Drops TO a Lower Level, Cats
Follow Suit, Provisions Being I'm
settled and Weak.
Financial Operations in The Monetary
Centers..-The General Quota
tons.
snecial TO the Clone.

Special to the GLOBE.
CHICAGO, Nov. 27.-The object OF all cal
eulations in wheat TO-DAY was to ascertain
whether the turn upward Is a spasmodlc al
fair or whetherit has started in for mate
rial advance in prices One thing was dem
onstrated early in the day. that the short In
terest is sufficient to become very strong
element in the pit as soon as the shorts
think there is danger of the market getting
away from them. This was shown at the
opening, when Hutchinson wanted wheat,
and when the crowd chased the price
quickly up to S1.09 on some bold bidding
with very little buying There was nothing
significant in the movement of wheat except
the falling off in receipts in the Northwest and
good shipments from Duluth. But there Is
already too much wheat at the seaboard. and
there we're no clearances reported. Receipts
here were 65 cars. The premium for May
over December was increased to about &c.
December opened at SI.03A, went Off TO
81. 02l2, reacted to 81. 03ss, and later sold be-
tween 81 OPS and S1.03M. May opened eX-
cited at Sl.07 TO Sl.07i4. sold up TO Log,
back to 81 .0Sl2, up 10 Sl.t9 again at L
o'clock, and acted weak toward the close.
Wheat sold back to S1.0sss five minutes be-
fore the close, and a sudden turn upward put
the close at the top for the day at S1.O9ls.
'|NNN-AA0S-
$1.03i2. The corn market was fairly active
to-day, but in spite of some covering by
plungers, the stuff was heavy, and prices de-
clined s4c for the month and l2c for Decem-
BIER. The receipts were 6SS cars, consider
able over the estimate. The weakness
resulted largely from the light de-
mand and large offerings in cash corn. No
Vember sold at &c, and off to 36l2c at the
close. December opened at 36s4c and closed
at 364c. May closed ssc lower at 3s1ac and
closed at 36Ac. Oats had dull day. Con-
ditions have not changed specially, but the
Milwaukee clique appeared to be waiting
and prices were steady. Receipts, 142 "ars.
Thirty-six thousand of the best hogs of the
season was discourager to the longs in the
provision pit this morning and joy TO the
bears. Cudahy sold from 10000 to 10000
pounds of pork early, and the bears raided
the market pretty much all day. Pork sold
down to S14O7l2 for January. closing at
Sl417la. January lard went to Ss.l2l2.
The loss as compared with last night was
2m32I2c in pork, 2l2@D12l2c in lard and
1Tl2c in short ribs.
THE ROUTINE REPORT.
CHICAGO, Nov. 21.-Operators were again
surprised at the action of the wheat market
to-day, which after lower opening, became
strong and closed quite firm at high prices.
The opening was very unsettled. with sales
from A@9sc below yesterday closing figures,
bat almost Immediately rallied. selling up
1l2c from inside point, reacted s4c and sold
up lac, reaching a point Sc above inside
figures. From this point prices settled back
he, again rallied to outside figure, and the
closing was lice higher than yesterday.
Corn again ruled easier, and a lower range
of prices was established. The feeling OIL the
whole was considerably weaker, and opening
sales were 14e under the closing prices Ofy yes
terday, after which the market was steady for
a time, became easy and closed Ss@12c
lower for December and lac lower for No
vember Than yesterday. Oats were quiet and
steady. A feature OF the trading was the in
creased business in transferring contracts
from December to May at 4c difference.
Quite all active speculative trade was report
ed in mess pork, but the feeling was some
what unsettled and weak. Offerings were
liberal early. and opening sales were made at
1G@12lac decline, which was quickly fol-
lowed by further depreciation of 30l37l2e.
Later the market showed rather more steadi-
ness and prices rallied 7l2@lOc, and the
market closed steady. Trading was moder-
atcly active in lard. and the feeling was
easier Prices receded 12l2G115c, but rallied
again 2l5@5e and closed steady. A faE trade
was reported in short ribs. Prices ruled 100
l1l2c lower.
THE MARKET REPORT.
Wheat-No. November closed at 81. O3l2;
December opened at S1.03A, closing at
S103l2; January, S1.034, closing at ST. 04A:
May, S1.o7, closing at $l.09ls. Corn-No.
364c. closing at 36c; May, 3Sl2c. closing
at 3S1sc. Oats-No December closed at
26Hc: May opened at sc &c, closing at 3 3Sc.
Mess Pork Per Bbl-December opened at
SlI27, closing at $l4 10: January. Sl44O.
closing at $l41712; May, S1465. closing at
SLATE. LAID Per 100 Lbs-December
opened at $3.50, closing at $S.27l2; Janu-
airy, IS. 90 closing at SIS. Is; May, S.. So,
closing at SS.27i2. Short Ribs Per 100 Lbs
January opened at S7.35, closing at
S7.25; May, S7.55, closing at s7:45.
Cash quotations were as follows: Flour
dull and weaker but not quotably lower.
Wheat-No. spring. Sl.03@1 .O312; No. 2
spring 90@97c: No. 2 led, $1.O3@ .03Ie.
Corn-No. 2, 36i4c. Oats-No. 2. 26Ac.
Rye-No. 9, 53c. Barley-None. FlaXseed
- No, /. S151l2. Timothy Seed-Prime,
$1.52@1.54. Pork-Mess, per Dbl, S1425@
1437l2. Lard-Per 100 lbs, $40. Short
Ribs--Sldes Goose). $7.35@7.50; dry sailed
shoulders (boxed), 81. 25@l7.3712; short clear
sides (boxed), $S@S.12l2. Whisky-Dis-
tillers' finished goods. per gal, Sl;2o.
Sugars-Cut loaf, SA@9l2c; granulated,
7i2c Receipts-Flour. 1900 bbls; wheat,
10000 Blu; corn, $4,000 bu; oats. 145,-
600 bu: rye, Is 900 bu; barley, 1O3, 900
bu. Shipments-Flour, q, 900 bbl wheat,
$4,000 blu: corn, l14,000 bu; oats, H.
900 blu; rye, 1000 blu; barley, $4,000 bu.
On the produce exchange to-day the butter
market was steady and higher; Elgin cream
cry, 39@41c; cnoice Western, 31@37c:
choice dairy, 27@3Oc; common diaries,