St. Paul daily globe., 1888-07-30
The COMMERCIAL RECORD.
Everything Conspires to Boost Wheat
and II Advances Some
Two Cents.
Pork Was Active and Stronger, While
Corn Refused to Participate
in the Gain.
The New York Stock Market Dull and
Weak, Chicago Selling the
Changers.

CHICAGO, H., July 2s.-This was the strong
est day on change tor several weeks. A
bulge of &c on wheat inside of three hours
on Saturday morning is something unusuai
but that is what actually happened. Wheat
sold up pretty well on the curb, and long be-
fore the opening of the regular mar
ket there Was every evidence Oh
tbullish day. This sentiment
was largely due to foreign dispatches OF
further damages to crops, and large orders to
buy, in the hands of houses generally hand
ling European business. In addition to
this was report from Dakota and Mime
sofa telling of damage to crops through the
hot, damp weather of the last few days. The
crowd appeared to be ripe for the
raise, and the big bulls seemed to have
plenty Of help. The bulls realized on the
advance and good many of them looked
for scalps on reaction. The reaction came,
but it was not so violent as was expected,
and the market advanced once more,
closing at S2c. Corn was not
particularly active. There was some
covering by small shorts on the advance in
wheat but otherwise it was dull. The close
was consequently lower August being 447Sc,
September 44l2c and october 44c. There
was another active day i'll provisions, all
sorts Of property continuing to advance
steadily under short buying by what is sup
posed to be the Armour interest.
THE ROUTINE REPORT.
CHICAGO, July 2S.-Wheat to-day advanced
&c in about two hours without any great ex-
element 1t was case in which a goodly
short buying for long account and buying
agents for foreign account all combined
TO make a broad and strong market In
addition, the bad weather abroad, the
failure of much of the new wheat on
n nd fnVOra Dln
export clearances converted many lndlfter-
ent ones into enthusiastic bulls. Opening
rrices were l2c over last night. The first
few minutes started pricees up quite brlsKly,
and before noon August sold up to SIC and
September to S214c, an advance of about s4c
n each case. Then came reaction OF l2c
On realizing sales, and after II o'clock
prices started up again and touched S2Ac
for August, S2l2c far September. Again there
was reaction of I2c, partly restored after
ward. the closing prices being sc Tor Au-
gust and S2ssc for September. The corn
market was weak while everything else
doomed. 1t started off in step with wheat,
August going from 45SSc to 46c; September
from 45c TO 4534c, and october from 41Ssc to
f5c: the pace was too rapid. 1t halted, then it
turned down and it kept on going down
closing prices showing decline of l2c as
compared with yesterday. The range was
l@1lsc. Receipts to-day were 35S cars,
against estimates of so cars, and estimates
for Monday run from 425 to 440 cars. The
board table shows shipments for the week to
have been l 1,404, S07 bu, against 1,0S1,-
p2s bu received Brilliant crop pros
poets continue to be the clue that is used to
depress values and the free movement from
The interior indicate lack of country conf
dence in future high prices. Trade to-day
was quite up to the average volume. Oats
attracted little attention. Early futures
declined slightly for the session
while other futures were steady.
Pork was active, stronger and advanced
Add
lnet gain of 15c. A fair number of outside
buying orders were received, but the bulk
Of the trading was by local scalpers. Shorts
have become demoraliZed at the continued
on themselves. A feature of to-day,s trad
ng was the sharp demand for January
md year. September opened at S14 %, sold
20 Sl445, receked TO Sl4.31l2. and closed at
that figure. Year sold at Sl3@l3.25 %. and
closed at the top. Lard was moderately
lctive, and closed 2l2c higher; September
sold at SIS. S2la@ So; January, at $40.
Short ribs were in fair request, and Septem-
Der sold at SS.30@S 7l2, and closed at s.. 80,
tgain of DC.
THE QUOTATIONS.
The leading futures ranged as follows:
Hheat-No. =, July, opened at S27sc, closed
1t e3Ac; August. S05sc, closed at S2c; Sep
ember. Sic, closed at >s2$sc; October
opened at 45s4c, closed at 45Ac; August,
l5s5c, closed Mt 147Sc; September, 45c
closed at 44l2c; October 44l2c, closed al
lac Oats-No. =. July opened at 29s4c
closed at 29l2c; August. 2ll2c, closed al
Alsc; September, 1890, closeda at 2324c; Oc-
iober, PIE closed at 24c. Mess Pork
Per Bbl-August opened at SI4.2O closed
1t $14.27l2; September, S1425, closed al
i14.37I2; October, Sl4.25, closed at S14 37l2
January, S13 07l2, closed at S13.25. Lard
Per 100 Lbs-August opened at SS.77l2,
closed at SS.71l2; September, SS.S2I2.
closed at SS. S.S2l2; october, SS.77I2 closed
It SS.7712; January, $40, closed at 81. 70
Short Ribs, Per 100 Lbs-August opened at
1925. closed at SS.27l2; September. SS. 80,
slosed at $3.50; october, $3.50, closed al
1885; January, S6.72l2, closed at Sc. 72I2
Cash quotations were follows: Flour
Dull and unchanged. Wheat-No. 2 spring
s2&c. Corn-No. z. 45lsc. Oats-No. 2
i9s4c. Rye-No. ., sc. Barley-No. 9, 62c
Ness Pork-Per bbi si4 25@i43o. Lard
Per 100 lbs, SS.a9. Short Ribs-Sides Qoosey
$3.50; dry salted shoulders, (boxed), 81. 81
S7.40; short clear sides, (boxed), SIS. 70
90. Whisky. distillers' finished goods, pei
gal, $1.20. Receipts-Wheat. $4,000 bu;
corn. 1854 900 bu; oats, $1,000 bu: rye,
5000 bu. Shipments Wheat, $4,000 bu:
corn, 10000 bu: oats, 100000 bu; rye.
1000 bu; barley, l,000 bu. On the produce
exchange to-day the butter market was
quiet; creamery, 14@1Si2c; dairy, 13@l6c
EGGS dull; recandled. 14l2@15c