St. Paul daily globe., 1888-09-25
THE COMMERCIAL RECORD.
Anxious "Shorts" Try to Cover and
Send Wheat Up Nearly Three
Points.
IN Easy Feeling in Corn, Oats and
Ribs, With Lower
Prices.
financial Operations in the Monetary
qenters---The General
Quotations.
Epeciaf 20 the Globe.

higher about noon to-day in this market,
Eithout any great commotion. The early
cables were of a quiet steady kind, and
opening prices here were little differentfro
the close on Saturday. Then the Northwest
was heard from. December was quoted
plump &c higher at Duluth, and buying Or
0ers were In the market from the wheat Sec
tions of Dakota. The percentage of contract
wheat is very small at St. Louis and Mime
apolis There was marked advance in the
price of cash wheat at nearly all
foreign markets These facts took
hold of the crowd, and they for
got the seaboard, forgot the millions
of wheat already passed Chicago and await
ing foreign buyers. There was craze to
buy while the price was climbing &c The first
two hours, with Hutchinson taking profits
by selling on the bulge. There was talk of a
slight decrease in the visible supply where
fairly large increase was expected. When,
therefore, the visible figures later showed
decrease of 36S, 600 bu the climax was
reached for the session, and December wheat
went squarely to 96c, having opened at 93l2c
three hours before May touched 9Sssc, an
advance of 2I2c from the close Saturday.
Receipts here were 255 cars and the esti-
mate 242 cars. Out inspection $1,000
bu Corn Prices moved within
rather narrow range, and closing prices were
4c lower for the month of October There
was a fairly good trade. Receipts, l, lO2 cars
and %, 800 bu by canal. Oats sold within
narrow range, and closed slightly lower for
September and October. Receipts, 45S cars
and $4,000 by canal. In the provision mar
ket there was little interest Pork opened at
Sc lower prices than Saturdays close and
Iold off about 15@17I2c, after which it re-
olo a4S I 4 nd
October and January gain as compared
with Saturdays close of 2l2c in october, and
q loss of 7I2c in deferred future. Lard was
steady, opening and closing at Saturdays
6gures Ribs closed 2I2@7I2c lower than on
Saturday.
THE ROUTINE REPORT.
CHICAGO Sept. 24.-Trading in wheat was
active and the feeling decidedly unsettled
within higher range of prices, accQmpa-
MED with considerable excitement at times.
'Shorts," Influenced by the situation as it
now presents itself, were anxious TO cover.
and there was but little disposition to sell at
least 10 go ''short," though some realizing on
'1ong'' wheat occurred, and had il not been
for this prices would have run still higher.
At times the offerings were light, most Of
the operators who are long feeling conf
dent of higher prices Cable advices quoted
quiet and unchanged markets. and the open
ing here was steady at about Saturdays clos
ing, became strong and advanced l20sSc,
then eased off a trihe and ruled steady for a
while, but later rallied sharply on active buy
ing, which started shorts" to covering, and
prices with some fluctuations, were
advanced 2ssc for December, which is
the leading future above the early
or inside prices. The cause for this
sudden advance was the very bullish news
from the Northwest particularly Duluth,
where wheat was excited and higher, with
quotations for May several cents above the
New York market Advices from the North
west noted an active competition between
mills for the offerings of choice wheat. An
other feature which aided materially in
strengthening the market was the decrease
in the visible supply. Operators had calcu-
lated upon an increase, but the blackboard
figures showed that the increase would be
light and might possibly show decrease
long before the actual result was posted.
The market held firm at the advance, closing
about &c higher for October 2lsc higher for
December and &c higher for May than clos
ing figures Saturday. Speculative trading in
corn was quite active and the feeling little
unsettled. The market opened Ac lower
than the closing prices of Saturday, and then
sold down 14c, advanced SEC, reacted ssc and
closed A0Ssc lower than Saturday. Trading
was active early, and the feeling after the
weak opening was better, due mainly
to the strength of wheat and cOv-
ering bv the shorts. The large increase
IN the visible supply increased offerings, and
this and the estimates for tomorrow caused
the reaction. There was some selling of
May for country account. Trading was
largely in October. An easy feeling prevailed
IN oats, with decline Of about p4c Receipts
were large, and there was liberal increase
in the visible supply. Mess pork was mod
erately active at the opening, and market
weaker. Offerings were free and buyers
rather scarce. First sales at DC decline,
broke to 100l5c. The break induced fair
buying, the selling pressure decreased and
firmer feeling prevailed. Prices advanced
10022I2c, and the market closed steady.
A fair business in lard was done in the more
distant figures. A prominent operator sold
freely ana filled buyers up Opening sales
were at about the same figures as Saturdays.
Close declined 5Gl0c on the longer futures,
became stronger and the decline was all re-
covered. Short rib sales were weaker and
lower under early free offerings and absence
of demand. Later firmer feeling set in,
and most Of the decline was recovered and
the market closed steady.
THE QUOTATIONS.
The leading quotations ranged as follows:
Wheat-No. 2 September opened at 94Isc,
closing at 99c; October, 93$sc, closing at
95Ac; December, 93l2c, closing at 955sc;
September opened at 40$sc, closing at 4OI2c;
October, 40SSc, closing at 40I2c: December,
37Isc, closing at 374c; May, 3SIsc, closing
at 3SAc. Oats-No. 2 September opened at
23s4c, closing at 23I2c; october, ,237s, closing
at 23s4; November, 24c, closing at 24c;
May, 28c, closing at 2Sc. Mess Pork, per
bbl-0ctober opened at S14:45, closing at
$l452l2; November, S13.65, closing at
S1O.lOs JdnuaTNs SlO-lO, ClOSlllS Ut dtSlO.OIA2.
Lard, per 100 lbs.-October opened at $40 so,
closing at S10.5O; November, S9.40, clos
ing at SO. 37I2; January, Ss.10 closing at
$50. Short Ribs, per 100 lbs-September,
opened at $40, closing at SS47I2; Oc-
tober opened at $3.50, closing at $S.45;
January, S6.97I2, closing at 6.97Is.
Cash quotations were as follows: Flour
frmeT and 10015c higher; patents, $500
5.85; bakers, S3.75@495; inquiry chiefly
city jobbing trade. Wheat-No. 2 spring,
97l2699c; No. spring, S20S5c; No.
2 red, 97I4@99c. Corn-No. 2, 41l2c.
Oats-NO. 2, 23I2c. Rye-No. 2, SOC. Bar
ley-Nominal. Flax Seed-No. 1, S1.30.
Timothy Seed-Prime, Sl.50Q152. Pork
Mess, per bbl S1452I2014.55. Lard
Per 100 lbs, SlO.5O. Short Ribs-Sides
Qoose), 1857. Shoulders - Dry salted
(boxed), easier; short clear sides Cboxed),
easier. Whisky-Distillers' finished goods
per gal. SI.20. Sugar-Cut loaf, SA@S5sc;
granulated. 77S0Sc: standard A. 7ssc.
Receipts-Flour, 1900 bbls; wheat, So
900 bu; corn. 10000 bu; oats, 222,-
600 bu; rye, 27,OOO bu; barley, $4,000 bu
Shipments-Flour, 10000 bu; wheat, H.
600 bu; corn, 28O,O00 bu; oats, 245,-
900 bu; rye. $4,000 bu; barley, 19, 200 bu
On the produce exchange to-day the but
ter market was unchanged. Eggs firm
choice northern, 17c.
% "A NEWpOPT a COM