St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-04-17
THE COMMERCIAL RECORD.
Kumors Of Short Wheat Crops Forced
Wheat to Go Up Nearly 2 Cents
at the Opening.
Corn, in Sympathy With Wheat, Ad-
vanced 1 Cent Heavy Declines
in Visible Supply.
Provisions Were Easier, With Fair Offer
ings---The General Market
Quotations.
Special to the Globe

Special to the Globe.
CHICAGO, April 16.-In about thirty minutes
from the opening of the board wheat was
selling 1s4@2c higher than it closed Satur-
day. Grain cables were very strong and sales
in Liverpool were reported at figures consid-
erably above any quoted. Crop reports OF an
alarming character were received, and Werst,
the expert who has been out through Kansas,
Missouri and Illinois, reached town with
eyes bullying with the excitement that con-
sumed him. He found the Kansas crop look
ing well, but learned as to the situation in
Missouri and Illinois, that damage is worse
than he thought possible, the damage to late
sown wheat being very great. The people
who had employed him became greater bulls
than ever, and their purchases started the
market up with whoop and hurrah. May
was run up to 911sc and July to 83c. Heavy
realizing carried the price back 12c, but the
market was wild. May corn advanced to
56ssc and July to 55l5c, a gain of lie from
Saturday. The excitement was largely
in wheat, however. Early quotations
in provisions were S14. 35014.40 for
May pork, 81 9O@7.s219 for June
lard, and $7.3O@7.35 for May ribs.
The members OF the combination which has
been securing the winter wheat country for
crop damage points have been reaping q
harvest. They have made the most of their
opportunity, and it is quite probable that
they realized to very great extent on the
bulge of this forenoon. The shorts took the
market away from them around the opening
and gave them a chance to sell on all exceed
ingly hard spot and at great advantage.
Strange to say, the market did not get weak
with all the realizing that was done, and
every time the price OF May touched S0l2c
the offerings were absorbed. There was a
larger volume of general outside buying than
has been witnessed in the pit for many
weeks, and the reaction that has been ex-
pected may prove to be only q halt in the adj
vance. The market to-day remained firm
until the close at l2c reaction from the best
prices. 1t quoted down somewhat, but the
dealings, taken in the aggregate, were i'm
mense. The visible supply statement showed
a decrease of 601, 900 blu in wheat 466, 900
blu in corn, and $4,000 bu in oats. The
totals are 80. $50, 600 bu of wheat and s, 233,
600 bu of corn, against 50,6OO,0O0 and 90
OO0,O 600 bu respectively year ago on the
corresponding date. Experts of wheat and
flour from the Atlantic ports last week were
equivalent to 1.257,000 bushels, against
2,393,000 for the corresponding week year
ago. Corn held steady S4c improvement
over yesterday, with narrow fluctuations
The market was narrow and the trading was
not especially significant. Receipts to-day
were III cars, and tomorrow estimates are
for 90 cars, of which a considerable per-
centage will arrive over the Burlington on a
cut rate extending to the 18th. There is said
to be 1000 cars of delayed corn in transit
on the Burlington, which will probably
reach here before the close of the week.
Corn cables are strong and New York is still
on famine basis. Provisions were rather
easier during the last half of the session,
with free offerings of produce from all quar-
tiers. AT the afternoon session there was re-
newed activity and strength in grain and
provisions. AS in the morning wheat was in
the lead and closed at the outside price Of
the day and about &c higher than Saturday.
Corn sold Ice higher than l p. m. and pork
advanced 12I2c.
THE ROUTINE REPORT.
CHICAGO. April 16-Wheat was on the up
favor the bulls. The sustained advances of
Saturday gave the syndicate of local buyers
more courage. Again, a crop expert who has
been on the road for local parties came in
this morning with a report that more than
confirmed the government report of last
week on the point of damage to the winter
wheat crop. This caused a bold front, and
the courage and nerve of the local buyers
frightened the shorts, and together they
bulged prices as they have not since last No
vember, when the country was full of wheat
Prices ranged: May, 797sc to open, then up to
S1I2c back to S0ssc, up to S07sc and back to
SOl2c, closing at S11sc. The visible supply
decreased COL, 900 bu less than expected,
which, together with realizing sales caused
the ease during the last hour of the session.
the opening was at as@12c better prices for
corn than the close Saturday. There was
fair buying by some leading local
houses, and some outside orders
gave additional strength. The pit
was filed with excited traders early and
The market was not so well sustained as
wheat, and before noon there was a reaction
to the opening price for May, and the closing
price at 8 o'clock was &c over Saturday.
May sold at 55ssc UP to 56A@56ss, back to
55ssc, up. to 561sc, closing at 56lsc. Oats did
not reach Saturday prices, although the
market was firm and active and higher. May
closed at 32a4c, or 9sc higher for the day.
Provisions participated with grain, and de-
clined, closing sales at o'clock being 15c
At 3 o'clock pork closed at S14. 27l2. Out
side buying orders came in slowly and local
holders were disposed to sell more freely, but
it required little pressure to keep prices on
the downward path after they had fairly
started. May sold at $144O, declined to
S1417la and closed at Sl4.271a. Lard re.
manned steady with light offerings. May sold
at S7.70@7.75 and closed at $7.72l2. Short
ribs for May sold to $7.35, reacted to S7.3O.Q
THE QUOTATIONS.
The leading futures ranged as follows:
WheatNo. 2, May, opened at 797sc, closing
at S1lsc; June, $3.50. closing at SIC;
July, S15sc, closing at 83c; December, sac,
closing at 85c.T Corn-No. 2, May, opened
at 555Sc closing at 56lsc; June, 53s4c, clos
ing at 55l2c; July, 55tsc, closing at 55ssc;
May, opened at 329sc, closing at 32ssc; june
32I2c. closing at 32ssc; July, 32l2c, cl .sing
at 32l2c; August, 2Sa4c, closing at 2SAc. Mess
Pork, per bbl-May opened at $l4.35,
closing at $14. Ply; June, $14.35, closing at
Lard, per 100 ibs-May opened & at vs7.75.
closing at $7.7212: June, $3.50 closing at
August, s7.s7la, closing at $3.50 Short Ribs,
per &c Oh 100 1bsmMay' $780, , closing at at
$755; July. s7.47ls; closing at s.: 42gs !;
August, $7.55, closing at $7.52l2.
Cash quotations were as follows: Flour-firm.
and some dealers were asking an advance of
Toe per Dbl. Wheat-No. 2 spring. 79s4c;
Corn-No. 2, 55a4c. Oats-No. 2, 29@32Ac
Rye-No. 2, Gle. Barley-No. 2, 77@SOc.
Flax Seed-No. L, $1.45. Timothy Seed
Prime. S2.70@29O Mess Pork-Per Dbl,
Sill 12l2@14.15. Lard Per 100 lbs,
$7.72l2. Short Ribs-Sides Qoose), 1925 !;
dry sailed shoulders (boxed), S5.75@6:
short clear sides (boxed), $7.75@7 80.
Whisky-Distiilers finished goods, per gal,
ST.. Is. Receipts-Flour, "a, 600 bbls; wheat,
10000 bu; corn, sc, 900 bu; oats, $4,000 blu !;
rye, 1000 bu; barley, 1900 bu. Ship
ments-Flour, 1900 bbls; wheat, 1900
1000 blu; barley, %, 900 blu. On the produce
exchange to-day the butter market was
easier ana lower; creamery quoted at 2l@
25l2c; dairy, l1@24c. Eggs, 13@141ac.
r. M. NEWPORT & SON,
Investment Bankers.
1872. 1853, 1874 Drake Block. Loan Money