St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-03-20
THE COMMERCIAL RECORD.
Wheat and Corn Started Out Weak, But
Closed Strong and
Steady.
There Was But Little Trading in Oats,
and Provisions We're
Dull.
Transactions in the Financial Circles OF
Wall Street.-The General
Quotations.
snec;ol 70 the Globe.

1vara steadv this morning though there was
Soma weakness in both cereals early. New
York exporters deluged the floor with pear
disnatohes on wheat, and sent buying orders
to a select few. This is trick lhey ha.e
when thew want to break prices to the llnits
on open foreign orders. 1t didn't WORK tiii9
morning, and May wheat reacted quuChi!
from 7S5sc to 797sc and without effort oner-
ings were limited. Early estimates placed
the decrease in the visible supply at 5oo,ooo
bu. Receipts of corn footed up 4oo cars
and speculative sentiment was somewhat
bearish The possibility of an advance III
grain rates from the West and eVer-presen'
fact that available stocks OF NO. are ilSnt'
are sufficient to prevent serious preaA,
Provisions are Just the least pit easier ana
very dull. The visible supply statement
came out on time to-day. 1t shows the lotai
available supply of wheat TO be 36,Zoo,o@4
bu, or less by IL, 919,903 blu than on the cor
responding date last year. The changes lor
the week are as follows; Wheat, 4o|,942
bu decrease: corn, SIS, $50 blu increase; oats'
129,4S0 bu decrease; rye, 1901 pu oe-
crease; and barley, 205,S4 bu decrease.
Local stocks of grain foot up TO IL, loI'oo1
blu, of which 5,416,55S bu are "hea''
4267. S57 bu corn and 1,070,51S bu oats.
III the corn ABOUT l,oUU,OOO Ou "AS "HNN'
The decrease in wheat is 100000 bu less
than on the corresponding week last year
and the effect of the announcement was de-
pressing. The course OF prices after the
first hour was downward. Wheat was firm
for a time at 7S84@797sc ana the scalpers
went for an upturn. Speculative offerings
were light, and the temper of the market
was favorable to substantial Improvement.
Tt, nd
lines of foreign customers, were buying
pretty extensively, and they had an oppor-
tunity to fill orders on a declining market as
rule 1t was given out openly by some of
the brokers that considerable wheat was
bought for foreign account whether TO fill
contracts or for future actual shipment
did not transpire Probably the foreign
ers both covered and went long to some eX-
tent. The most reliable of private cables
represented the tone of the market abroad to
be steady. Nightingale and other sensa-
tionalists had the foreign markets in dread
full state, and declared that there
would be no show for business until Ameri-
can wheat was down 405c q bushel. Elk
ports are only moderate, being 1,4e2,ooo
bu wheat and -four last week, against 1885,
600 blu for the corresponding week last
year. May wheat sold down to 7SSsc in this
market before the close, and acted weak at
the decline. The heavy weight professionals
seem determined to keep the price below
zoe, and they are not meeting with serious
difficulty. blizzard is on the way, but
with the soft spring zephyrs blowing through
the open windows of the exchange, prophe-
cies of bllZzards have no terrors for the
bears On the decline fresh lots of long
wheat came out and the market was as
heavy as lead. The promised restoration OF
Western freight rates is lringlng corn for-
ward at a great rate. Estimated receipts for
tomorrow are 525 cars, and the movement
for the remainder of the month is likely TO
be on a swelling instead of a diminishing
scale. For that reason the market is very
heavy Bryant was large buyer of corn
early. Hutchinson, too, was free buyer OF
May. Everybody was hedging for May
purchases by selling June, and that option
was crowded down to a discount of SSc under
May. A large business was transacted IN
corn. At the afternoon session there was
fair interest in wheat and corn. Provisions
were dull and there was little trading in
oats Prices were little changed from l p.
m. prices.
THE QUOTATIONS.
The leading futures ranged as follows:
Wheat-No. 2. March, 74c. closing at 1850;
May, 7S34c, closing at 7SlSc; June, 79c,
closing Mt 7S34c; July. zoe, closing at
7S5sc. Corn-No 2 May opened at 51Ssc,
closing at 5114c; June, 51lsc closing at
507sc; july 5lSsc, closing at 51l8c. Oats
No May opened at Bic, closing at Bic;
June, Sic, closing at Sic; August, &c.
Mess Pork per bbl-May opened at SLID,
closing at S1410; June, S14.20, closing at
S14l7l2. Lard. per 100 lbs April
opened at S7.55, closing at 81 ,52l2; May,
S762l2, closing at $7.57l2; June, S7.67l2,
closing at S7.65; July, $7.72l2, closing at
$40. Short Ribs, per 100 lbs-May
opened at 81 22l2, closing at 1929;
June, S73O, closing at $3.50; July, $40,
closing at S7.37l2. Cash quotations were as
follows: Flour quiet and unchanged
Wheat-No. spring, 74s4@76l2c; No. 2 red,
91@8ll2c Corn-No. 2, 50l2c. Oats-No. 2
27l2@30c. Rye-No. 2. 5Sl2c. Barley-No
2, 77@s1c. Flax Seed-No. l, S1.45. Prime
timothy seed, S251@252. Mess Pork, per
Dbl, $14. Lard, per 100 lbs $7.52l2.
Short rib sides Qoose) S7.15: dry sailed
shoulders (boxed). S6@6.10; short clear
sides (boxed), S765@7. 70. Whisky-Distill-
ers' finished goods, per gal, 81. Is. Sugars
s Gai S z@s assG g Reeepts FoSr
$4,000 bbls; wheat, 10000 bu; corn,
$4,000 blu; oats, $4,000 bu: rye,
1000 bu barley, $4,000 Blu. Shipments
Flour, SO, 600 bbls; wheat. $1,000 bu: corn.
$4,000 Blu; oats, $4,000 bu; rye, 5000 blu /;
barley, 80, 600 bu. On the produce exchange
to-day the butter market was firm;
creamery, 22l2@3Oc; dairy, ls@26c. Eggs