St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-03-30
The COMMERCIAL RECORD.
Corn and Wheat Both Went Down Under
a Bear Movement and the Fine
Weather.
Provisions Went to Pieces, Ribs, Pork
and Lard Taking Big Tumble
Wheat Gossip.
Transactions in the Financial Circles of
Wall Street.-The General
Quotations.

Special 10 the Globe.
CHICAGO. March 29.-Private cables were
bearsh this morning and the weather was
beautiful. two causes that served to depress
wheat l9c around the opening. May sold
as low as 765sG176s4c, and bulls looked dis
couraged. The fine weather, If 1t continues,
will soon develop the amount of damage TO
the winter wheat crops, wrought by the sue
cessive freezes and thaws to which they have
been subjected. Corn sold off Ssc to 5138c,
but recovered TO 52c, and was held with
fair degree of firmness around that figure for
q time Provisions were sick. Bloom cote
top of ribs and pounded the market down 10
@12l2c. Pork declined 17l202Oc: lard. 2l20
sc. The Charleys, Wright and Singer, are
still looking for customers for the pork they
bought from $3.50 up to $3.50. The
price worked down to S1342l2 this morning,
with ribs quoted at 81. 1912 and lard $3.50.
The weakness in the grain markets did not
continue long, contrary to the general eX-
pectation. The belief is gaining ground that
Ream Cudahy and Jones (who are in the
mind of trade, wrongly associated with the
idea of a combination) and their followings
are preparing for change of front on wheat.
These men have early information
about the condition of crops, and their in
formation is of the best, because they do not
RELY on voluntary testimony, but send out
and get the news and pay for 1t. They have
been impressed with the danger that has
beset the winter wheat crop and they are not
unmindful of the force of the facts that are
presented. They are probably not at all
anxious for the market to advance just yet.
Indeed they are still converse tionally bear
ish and are using their influence to check an
7 al, liz kill tInx- hauQ
not been bulls long enough to load up as
heavily as they might like. For a week
Weers, the crop expert, has been preaching
the ruin of winter wheat and making con-
verts. Joe Mcdonald whose judgment ON
the condition of the crop is probably as good,
If not better, than Weers. because he leans to
the conservative side always, has not been
out over the fields, but has been quietly post
ing himself here at home and is shaking his
head, taking very gloomy view of the situa
ton, both as regards spring and winter
wheat, serious damage to the latter and delay
in seeding in the former being the burden of
his regret Last year spring wheat was
very generally seeded by the end of
March, now snow to a depth of one to
three feet covers large spring wheat area
and next to nothing has been planted. Late
pOhh Spl4HS NlISoI ID pCSuAlulAy oubJOSb W
climatic dangers. New York reports a
healthy export inquiry, but the domestic sit
uation is commonly regarded as considera-
bly, stronger than the foreign. Locally the
market cannot be quoted as weak, though it
is punctuated with sick spots. One occurred
on the market map this morning. as above
set forth. The process of recovery was slow
and sure. From 1850 the market advanced
l2c and held steady above nc for the greater
part of the session, closing firm at top. Trade
wa. o moderate volume. Corn was not long
climbing back 10 SIC and above. Receipts
were 178 cars and to-morow's estimate is
233. Provisions rallied sharply from the
forced depression, prices going back to about
yesterdays closing range. At the afternoon
market there was slight bulge in wheat and
corn, followed by reaction which left clos
ing prices 1s1Ac for wheat, and 1sc lower
for corn. Oats and provisions were steady
THE ROUTINE REPORT.
DCHIcAGo. March 29.-Grains started out
rather weak on change to-day, the mild
weather being the depressing influence.
Wheat opened easier, with prices about lac
under those of last night. There was general
selling by the crowd, and prices went down
about lac during the first hour. Before noon
a slight reaction set in which took prices up
l2@5Sc. May sold from 765s@7684c up to
4C, WIleTe IL IeSleu lu0 greater part VI TIE
closing hour, a prominent operator taking
100000 bu at this figure without changing
the indications. Toward the close grain
again grew stronger and May wheat advanced
to 7712c, but closed at 771s077Ac. The re-
suit of the deal in corn at the regular session
was an advance in the price of futures of
about l2c. The opening prices were 14c
under the close last night, May starting at
5l84c and, as in wheat, the first action was a
slight depression. This was followed by
rt,,
523Sc at the close. Several operators made
great efforts to bull the market but
there was too much long corn ready
to come out above see to allow much
of bulge. May closed at 52Ac. Oats sold
within narrow range and closed steady for
May and easier for deferred futures. May
sold at 311s@30a4c and closed at 3O7sc.
Trading in provisions partook chiefly of
local scalping nature. Receipts of hogs eX-
ceeded expectations and prices declined sc.
cared to take it. and first sales were at Toe
decline from Yesterdays close and dropped
1212c. Shorts took hold at the decline and a
rally of zoe followed, but last sales were sc
below outside figures, at $13.31l2; Lard was
sold 2l2c lower on May, but steady on other
futures; May sold at $7.60@7. 62I2. Short
ribs were traded in to a modepate extent and
declined 512c from opening figures, but re-
acted and closed steady at opening figures,
which were 50512c below last night sales.
son shows a decrease of $50, 900 hogs. This
in measure is offset by decreased exports.
THF QUOTATIONS.
The leading futures ranged as follows:
Wheat-No. 2, May opened at We closing
at 771sc; June, 77sBc, closing at 775sc;
July, 7712c. closing at 7734c. Corn-No. 2,
May opened at Slice, closing at 52lsc; June
51sSc, closing at 517sc; July, 5112c, closing
at 517sc. Oats-No. 2, May, opened at 3OSc.
closing at 307sc; June, 3olSc, closing at 307sc;
August 274c; closing at 27Ac. Mess
ing at $13.57l2; June, $3.50. closing at
$1365. Lard, per 100 lbs-May openedI at
$3.50, closing at 81. 62l2; June S7.65, clos
ing at $7.67l2; July. $40, closing at
$7.72l2. Short Ribs, per 100 lbs-May opened
at ST. l7l2, closing at 81 1712 June, 81. 25 clos
ing at $7.20; July, S7.32l2, closing at .2712.
Cash quotations were as follows: Flour
steady, and winter wheat flour firmly held
owing to liggt stocks; Wheat-No. 2 spring,
Oats-No. 2, 2712@3Oc. Rye-No. 2. soc.
Barley, No. 2, 77@sOc. Flax seed-No. 1.
SLID; prime timothy seed, S2.61@262
Mess pork, per bbl., S135O@13.55. Lard,
per 100 lbs $7.6212. Short ribs sides Qoose)'
ST. 10@7.15; dry sailed shoulders (boxed),
$5.75@6; short clear sides (boXed), 81. 60
@7.65 Whisky, distillers' finished goods,
per gal, $1.15: Sugars--Cut loaf, 76s@94c;
granulated, 79sc; standard a. 65sc:. Re;
bu; corn, 5000 bu; oats, 5000 blu; rye,
1000 bu: barley, $4,000 bu Shipments
Flour, 1000 bbls; wheat $1,000 bu; corn,
lie, 900 blu; oats, 153, 600 bu; barley, q. 900
bu. On the produce exchange to-day the
butter market was firm; creamery, 24@30c;
dairy, 21@26c. Eggs, lower and in large
supply at 15@16c.