St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-07-12
The COMMERCIAL RECORD.
Bullish Cables Cause a Sharp Advance
in the Price Of
Wheat.
Corn and Oats Take a Slight Tumble
and Hog Products Follow
Suit.
Financial Operations in the Money
Centers---The General
Quotations.

CHICAGO, ILL.,, July 11.-This mornings
curb talk showed wheat considerably tirmer,
prices tending back to the official closing
mark On the opening this was substantiated
by lump to ss0I2c, on the foreign advlces
showing that in Liverpool wheat prices :. ere
tending up. This really, 1 a.. not last long,
however; ss...I IL slid back to the original
point again. During the first hour of the
session the fluctuations were confined
to those points between lac and 1ac.
The market had no distinctive features,
shortly after 1880, however, the market
took on stronger complexion, and firmer
upward movement and undera strong bullish
influence the price rose to ~ and ssc. There
it stuck for an hour and half, the trading
beingIlight and absolutely no excitement.
Then the bulls again took hold and advanced
prices TO the closing figure. There was
rush from the short side to the
corner Corn was fairly active and
the speculative market sympathized more or
less with wheat. Receipts were about as ex-
pected and lake engagements proved quite
liberal, 325 900 bu for the past twenty-four
hours. The fine prospects set forth IN the
government report appeared to have more
effect to day than yesterday. August corn
closed at 1910, or the same as yesterday.
There was considerable hammering OF Octo-
bere by the August shorts, ana that future de-
clined 5sc, closing at 4SAc. Next in interest
10 wheat was the decline in pork. This was
occasioned very early by the very full I'M
loading of country holders. The decline
which followed this free selling was ably
assisted by local hammering at the hands of
Cudahy and Johnson. The general provls-
ion trade was active, but the lead and inter-
g i,,r nrly u
ribs fairly active, and cash produce fair
trader. The actual decline amounted to
35@37I2c in pork, 2I2@5c in lard, and 7l2c
in ribs.
THE ROUTINE REPORT.
CHICAGO July l1.-Business was brisk
again on change to-day. The action OF the
wheat market was doubtful early, but the
firm undertone, helped by bullisn cables; De
veloped into regular advance in prices later
in the day. The clearances at New YORK
were but 5000 blu, and this, with the recol-
lection of the improved condition OF home
crops reported yesterday made the ouils
cautious and encouraged some sellers, VINO
believed the governments figures would
have more effect to-day than they did on
Tuesday. The latter cables, public and prl-
vate confirmed the reports OF snow IN Eng
land and cry bad weather OH the continent.
On this the foreigners were said to be bullish
here and at New York. The reports about
the boat loads taken for export differed
from twenty to fifty boats, but the effect
was bullish. The short element in the pit took
little fright after IL O'Clock. A heavy
speculator, who was not able to be
on the floor, stood by his long wheat. When
the crowd got the desire to buy there was
little for sale and July was al big premii m
over August. The price OF August, which
ranged early between soc and SUS4c, and at
noon was at about the close last night, S0Ac,
suddenly started upward ana in few min
utes reached S1Ac. This was followed by
-l,nr, 49,
minutes before the close, second bulge took
place. The bullying prevailed up to the very
close. and prices at l p. m. were the outside
for the session, with August l2c over last
night at S1S4c. Other futures closed: July.
S31sc; September, S1Ac; December, S312c.
The corn. market was quiet compared with
wheat. There were some elements of strength
In the situation, but prices barely held their
own at the close for early futures, while the
feature of the pit was the low price of October.
The lowest price of the day was at the time
of the early dip in wheat when August
touched 1884, reacted 10 49s4. the outside
price of the session, and at the close it was
the same as last night 494c. July sold at
4S5sc and 49c to close. October sold from
4S7sc down to 4Sc and closed at 4S4c, or SEC
lower. In oats favorable crop weather and
prospects that contracts would be filled
caused heavy early markets. July became
quite vigorous at the close and there was lie
reaction, and the closing was steady and
lower July ranged lac lower than yester-
days closing, but a. the decline the demand
became quite vigorous again, and there was
lie reaction and the closing was steady and
only l4c lower Ausf9Gst declined l2c during
the early weakness and reacted Sc other de-
hveries averaged about Ac lower. Consider
able interest was manifested in the market
for hog products, and an increased specu-
lative business transacted. The general sur
f00undings of the trade were favorable to a
weaker market the receipts of hogs being
liberal and prices lower, while the advices
from depending markets were less favorable
to holders. Under these circumstances
there was considerable desire to sell products
for August and September deliveries, es-
pecially by leading local operators and man.
ufacturers while the demand was not par
ticularly urgent except from ''shorts."
Prices for all the leading articles declined
materially during the middle of the session,
but toward the close the market showed a
little more steadiness in a general way and
prices rallied again. Pork declined 40@45c,
amounted only TO 5@7l2c ana was wholly
regalned Short ribs fell Off 7l2@10, but
rallied later 2l205c.
THE QUOTATIONS.
Wheat-No. 2, July opened at S17sc, closed
at S3sSc; August S0ssc, closed at 81 sSc; Sep
TENDER S0l4c, closed at S1Ac; December
S25sc. closed at S3l2c. Corn-No. 2, July
opened at 4S5sc, closedat Ace; August4914c,
closed at 49Ac; September 49lAc, closed at
49ssc; october 4Slsc, closed at 4SAc. Oats
No. ., July opened at 31l2c. closed at 31I2c
August 26sBc closed at 261sc: September
25l2c, closed at 25Ac; October, 255sc. closed
at 255sc. Mess Pork, Per Bbl-July closed al
S13.17I2; August opened at SI3. so, closed
at S13.17l2; September, S13.57l2, closed at
S13.25; October, SIS. 42l2. closed at S13 1712
Lard, Per 100 Lbs-July opened at SS.O7I2,
closed at SS.07l2; August opened at SIS. l2l2
closed at OSS.12l2; September $500, closed
at $500; October $500, closed at SIS. 90
Short Ribs, Per 100 Lbs-August opened al
S7.52l2, closed at $3.50; September
opened at s7.62l2, closed at s7.57la
Cash quotations were as follows Flour
Quiet; unchanged. Wheat-No. 2spring, 60
@S3ssc; No. 3 spring, nominal; No. 2 red
S2c. Corn-No. .. 49c. Oats-No. 2, 31I2c
Rye-No. 2, 53c Barley-No. 9, sea
63c. Flax Seed-No. 1, Sill. Prime
timothy seed, 81 40. Mess Pork-Per Dbl
S13.15@13.20. Lard-Per 100 lbs SS.O7Ia
Short Ribs-Sides Ooose), $3.50; dry salted
shoulders (boxed), So 5000 62l2; short clear
sides (boxed), S795@7. 95ss Whisky-Dis
Tiers finished goods, per gal. 81. 20. Receipt:
Flour, $4,000 bbls; wheat, $4,000 blu corn
$4,000 blu; oats, $4,000 blu; barley
5000 blu. Shipments-Flour, 1900 bbls
wheat. 5000 bu; corn. 500, 900 bu; oats
100000 bu. On the produce exchange. to
day, 1.-THE butter market was quiet and steady
creamery, 1901 ol2c; dairy, 13I2@14I2c
Eggs firm; fresh candled 13l2@14c.
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