St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-12-28
THE COMMERCIAL RECORD.
May Wheat Takes a Sudden Upward
Tendency, Closing Two Points Bet
ter Than on Wednesday.
Fractional Decline in Both Corn and
Oats; Provisions, However, Closing
Strong and Higher.
Financial Operations in the Monetary
Centers---The General Quota
tons.
Special 10 the Globe.

Special 10 the Globe.
CHICAGO, Dec. 27.-There was much diff
ferent feeling in wheat at l p. N. today
The price of May at that hour touched
S1.O4I2. This was 2l2c over the bottom
point yesterday, &c over the bottom point
this morning and lac over the closing price
last night and the opening price this morn
ing. The market was decidedly unsettled
early. After opening at Sl.03 the price
- he'd 81 02I2 in few minutes, reacted 10
u .O4 on covering by those who dared not
stay short, went off again TO Sl.03l2, up TO
S1.037s, off to S1.03 and after II o'clock
the strength developed, which took the price
to Sl.O4I2 at l o'clock. The operations Of yes
terday were not understood by the crowd, and
the numerous conferences of Hutchinson
and Farbank Oh the floor, and the frequent
talks between FairbaI K and Ream, led many
TO believe that the selling of yesterday and
the breaking of the market was all well I'M
derstood among the big bullsin advance. In
addition TO the buying by shorts, there was
good buying by Linn at the time The market
was the strongest. There was little news
from the outside, and the strength was OH
1he view the crowd took Of manipulation.
PrmaTy1wheat receipts were but little over
100000 bu Receipts here were SO cars,
with winter and spring of No. grade.
New York cleared about 10000 bu and a
quantity Of -four. At Top. m, OF ) minutes
before the close here the price of May
touched 81 % an advance of &c over last
night. The bear feeling III wheat just before
the close caused May TO touch St.01ls, with
the close of the day at 81 %, or &c over YES
teTday. The corn market was steady, with
closing prices trifle under last night.
Hutchinson bought some, but less tnan on
IF "a ftr0e
larger Receipts were 275 cars with less
than 10 per cent No. =. The estimate for
Friday is 1876 cars. Export clearances today
are n, 900 bu at New York and Philade phla-
There was squirt Of activity in oats early to-
day, and the free selling by longs caused
break in May to 2SSsc with the close but lsc
lower at 2s7sc Receipts were 1913 cars with
81 cars estimated for Friday. Provisions
were duh and quiet, bnt stronger, closing
50L7l2c higher for pork. about 2l2c for lard,
and 2l2Q5c higher for short ribs.
THE ROUTINE REPORT
CHICAGO, Dee. 27.-After the break Of some
5I2c in wheat yesterday, ii was natural TO eX
pect II reaction, and it came in the shape of
recovery of 2l2c from yesterdays inside
figures Speculative operators were puZ-
Zled as much as ever at the action of the
market the past twenty hours. Whether
the break of yesterday was engineered 70
force out great deal of long" wheat or
whether il was actually the closing out of
some long lines of wheat which operators
did not care 10 hold longer, 1t Is difficult to
say. But the conference OF TWO of the heGv
lest operators on the IL or during most of
the session. led To the bClief that there was
collision between these traders, and oper-
ators felt as much at regarding
future transactions as ever. A good
speculative business was transacted,
"shorts covering freely, and there was
fair buying, claimed to he long wheat.
However, il may have been bought for
natural reaction, and liable TO come out
again at any time. The market opened at
about yesterdays closing figure, and sold off
l2c, then rallied, and with numerous small
fluctuations advanced 25sc, and closed about
&c higher than Yesterday There was only
moderate trade in corn, though perhaps
there was a trife more doing than yesterday.
The prevailing feeling was one of steadiness,
and values showed but little change from
yesterday, transactions being mainly local,
and fluctuations limited 10 &c range. The
market opened Mt yesterday closing price,
eased off lac, remained quiet and inactive,
closing lsd 4c lower than yesterday. Trading
in oats was more active. not only in the May
delivery, bur also in the nearby months. A
great deal of long stuff came out during the
early part of the session, and as buyers gave
the market little support n weak feeling pre-
vailed and prices declined l9GL 5sc, May being
the weakest. on the break shorts III the lat
ter month began covering. and the market
closed steady mt 14@l2c below Yesterdays
last sales. a little Interest was manifested
in mess pork early in the day and fair trade
was reported. Prices rallied I5@l712c
Later quiet feeling prevailed and prices
settled back 5@7i2e and closed compare
lively easy. fair business was transacted
in lard and the feeling was sic ldy. Prices
exhibited very little change. only limited
business was reported in ribs and ia market
ruled steady. Fluctuations were slight.
THE GENERAL QUOTATIONS..
Wheat-No. December opened at 9714c
closing al 99i4c; January, 97l2c, closing
ut g9l2c; May. Sl.u3, closing mt Sl.O5
July. 9II2c closing ut ole. Corn ~. .
December opened at 33a4c, closing AT 3oaic;
January, 3Ilsc, closing at 34c: May, SIC
closing ut 367sc. Oats--No. . December
Closed nj zoe; January, 25c, closing at
25lsc; May, 2S7sc, closing at 2SS4c. Mess
Pork. Per Bbl-pecember closed at Sl295
January, $12.9-l2. closing at Sl295
100 Lbs-December closed AT - %; Janu-
airy, S7.72l2, closing at S772l2; May
$3.50 closing Mt S7.S2l2. Short Ribs, per
100 Lbs-January opened at S6.s2l2. clos
ing Mt St SIP; March, S6.S7l2. closing
nj So S7l2: May. SI9j, closing at S6.97l2
Cash quotations were As follows: Flour
neglected, but quotably unchanged. Wheat
No. spring, 9Sa4d994c, No. 3 spring, 20
@9oc; No. red, 9s%@99l4c Corn-No. >
53ssQ33sic. Oats-No. =. 25c. Rye-No. .
Doc. Barley-No. ., 75c (. o. h. Flax Seed
No. /, SLIGO. Timothy Seed Prime, 81 As
Mess pork. per Dbl, Sl3. Lard, per 100 lbs
$3.50; short ribs sides, loose. Sc. s0d6.S5
dry sailed shoulders boxed, S6.756ln S7l2;
short clear sides boxed, S7.l2lsGJ7. %
Whisky-Distillers' finished goods, per gal.
Sl.20. Receipts-Flour, 1900 bbls; wheat,
$1,000 bu: corn, i6S, 900 bu; OATS 225,-
600 bu; rye, 1900 bu; barley, $4,000 bu
Shipments-Flour, 1900 bbls; wheat
$4,000 bu; corn, 400, 1000 bu; oats. l49,-
600 bu; rye, 1000 bu; barley, 5000 bu.
On the produce exchange to-day the butter
market was duh and unchanged. Eggs
easy, At 10000.