St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-07-31
THE COMMERCIAL RECORD
Another Bulge in Wheat Which Aston.
ishes the Majority Of
Operators.
Provisions Also Show a Sharp Advance
Trading Active and
General.
Transactions In the New York Stock
Market Tame and Uuinterest-
ing---Quotations.
Special to the Globe.

WuedC uldrKet To-Day. Ou the very sIdrt
August advanced 11sc, September 1ssc and
December lac. Foreign advices and home
dispatches of very strong bullish nature
were the chief cause. The local longs saw a
chance to realize, which they promptly be-
gan to do, the shorts meanwhile covering
their trades as best they could. The foreign
crop scare, together with our own fear of q
big shortage, was responsible for the rise,
and the great amount Of foreign buying
proved substantially that the recent "wet'
cablegrams were sent in good faith. Added
to this is the new talk of damage to wheat in
the Northwest which also appeared to be
well authenticated. The buying pressure
had look of genuiness about 1t that
drew other buyers in, and the trading
on that side was quite general. At 1890
August wheat opened at s2lac, December at
S5lac, September at SAC and September corn
at 45ssc. The bullish sentiment was very
convincing, and remained SO to the end Of
the session, in spite Of a few depressions at
IL O'Clock and later. September was the
fayorite option, ana August was left far in
the lurch from the very start. A reaction set
in toward the last of the session, and the
buying tagged somewhat dropping the mar
ket down to S4Ssc. Corn was unsettled and
irregular. with scattering trade, and a gen.
eral market that responded but sluggishly to
the action Of wheat. The close was only a
slight advance. There was rafting day in
provisions, with good demand and a lively
general trade in all property. Pork closed
25c higher, and lard and ribs 17I2c higher
than yesterday.
ROUTINE REPORT.
CHICAGO, July 3O.-A sensational bulge in
wheat overshadowed all other operations on
change to-day The instant the bell tapped
for the OpaNiOp then aDS,1nd q tremendous
clamor. Prices opened Sc over the close at
noon Saturday in New York, &c over the close
Saturday afternoon here, and lac higher at
ST. Louis. The jump was something amaz-
ing, following the unusual advance of &c
which marked the close OF last week. The
drift of feeling was shown on the curb, and
when the opening moment on the floor ar
rived the confusion and excitement was SO
all. The first official quotations wore $3.50
for August, S4c for September, and S5Xc for
December. The cables were very bullish.
The weather on the other side unusually hot
and wet, and hurtful to crops. During the first
fifteen minutes August sold at 94c, Septem-
Der S4i2c and December at S6Ac, an advance
Of fully &c for all futures. Local spectators
and foreign agents all were buyers, and only
those with long wheat had courage to sell.
After the first bulge and furry prices reacted
about lec. About noon second bulge sent
psices even higher than before. with August
up to 83ssc, September s5lsc and December
December. Then prices eased on realizing
sales to e4c for August, S4ssc for September
and S6ssc for December, and there they
rested shortly before the close. Neverthe-
strong, and the best prices were at nearly the
outside for the session-.August e4ssc, Sep
TENDER S5c. AS on Saturday, the corn mar
ket started off just little ''gamy," with Au-
from 44tsc to 454c and october from 44ssc
to 44s4c. The improvement was not MAIN
tanned, however, and the market got back be-
low the starting price and did not recover.
promises to increase. Corn is lower than
when it started on the previous sc advance.
Oats were dull, fairly active.and the range of
prices in the speculative market was con-
fined within narrow limits. The general
tendency WAS one Of easiness Provisions
opened the week with no abatement In the
bnllish tendency lately exhibited. Under
the influence of another sharp advance in
at prices generally higher than Saturdays
closings. In pork the first transactions
showed an appreciation of l7lac, in lard 7l2
@1oo, in short ribs 1O@1212c: During the
opening figures. The range covered by pork
in its fluctuations was 15c, by lard 7A@IOc
and by short ribs 5@7lsc. Trading was
active and more general in its character than
inaugurated. A large amount of product
siders, presumably against outside short
contracts Cash buyers were de-
oTdefs by tSe prces asked ss pS was
the leading time delivery For that month
pork sold at $14.5O@14.65; lard at So. 92la@
9.02l2 and short ribs at $S.45@S.5O. Pork
for September closed at $14.62l2, with Oc-
tober at the same price, and July and August
10c lower Future lard was quoted at the
adjournment at SS.95 for July, $S.95@S. 97I2
for August, SO for September and 1896 for
mt. Tr,1x and Ar1r chnr iii alr
at SS.45, September at $3.50 and October at
SS.47I2. Later deliveries were higher
THE QUOTATIONS..
.Wheat-No. 2, July opened at S47sc, closed
TENDER Sac, closed at S47sc; December S4I2c.
closed at 95l2c. Corn-No. 2, July opened
45Ac, closed at 1850; August 45c, closed at
45lsc; September 44lsc,. closed at 447sc; Oc-
closed at 44ssc. Oats-No. 2, July opened
at 294c, closed at 2SAc; August 24Isc,
closed at 237sc; September 237Sc. closed at
23s4c: May 274sc, closed at 27l2c: Mess
closed at S14.52l2; September S14.55, closed
at $14 62l2; october $14.57l2, closed at
S14.62I9; January S13.42L2, closed at
S13.25. Lard, Per 100 Lbs-August opened
S.. 95, closed at 50; October $500. closed at
1895. Short Ribs. Per 100 Lbs-Au--
ss55 os ssRtsm?ssE 80 Closed 0 ss at
Cash quotations were as follows: Flour
Firm; 5@15c higher. Wheat-No. 2 spring,
s5Ac; No. spring, nominal; No. red,
SEC. Corn-No. 2. 45Ae. Oats-No. 2
2sl2c. Rye-No. 2, 45c. Barley-No. 2, 62c.
Flax Seed-No. 1, S1.I0; prime timothy
seed, $40. Mess Pork-Per Dbl. S14.5O
Lard-Per 100 lbs, So 80. Short Ribs-Sides
Qoose), Ss.45; dry sailed shoulders, (boxed),
S7.25@7.40; short clear sides, (boxed) 500
80 Whisky. distillers' finished goods, per
gal, S1.2o. Sugars-Cut loaf, S9sc; granu-
lated, Sc; standard "A" 7I2c. Receipts
Flour, 10000 bbls; wheat. $4,000 blu;
corn. 165, 900 bu; oats. $4,000 blu; rye,
6,000 bu; barley, 1000 bu. Shipments
Flour, $4,000 bbls; wheat, 10000 bu;
corn, 4S9, 200 bu; oats, $4,000 bu; rye,
1000 bu; barley, 1000 bu. On the produce
exchange to-day the butter market was
weak; creamery, 14@17c; dairy. 124@15c.
Eggs easier; fresh recandled. 14@15c.
-. ,,-,.,1~-- ~~n,