St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-06-07
LAUNDERING THE MARKET.
Shorts Jump on July Wheat and Force
a Decline.
FOREIGNERS ARE REALIZING
Stocks Opened Weak But Closed With a
Better Feeling at Higher
Rates.

CHICAGO, June 6.-Th1S was moderate DAY
in wheat markets, and the action was the re-
verse of yesterday. The trade is pretty well
divided, and neither side appears to have
much confidence. Operators are quick to
take small profits ana slow to try to force the
market either way. 1t was evident that there
was more effort here to advance than to
break prices, but the m arket acted naturally
heavy. There was less bull news and q few
items favOring the bear side, and this gave
the lower tendency to the market. Less
wheat cleared at New York-53, 900 blu.
Foreigners who bought yesterday sold to-day
on the better reports regarding rains in Rus
sian fields. The Northwestern reports were
mixed and cables were without influence.
Other markets weakened with Chicago,
and there seemed to be little rallying
power anywhere. First prices here were.
steady at last nights figures. The
first action was a decline. July went off Ac
to 76c: December Sac to 76l2c. July rallied
to 76l4c and went off to 75s4c before the end
of the first hour, while December went on
down to 76lsc. The causes were good taking
of July by Hutchinson, probably 500, 900 blu,
causing the rally. and persistent selling of
December by Cudahy. Later in the day July
touched 1880, rallied to S6lsc on covering
by McDougal and others, and went off to
75s4c at l o'clock. September sold off to
1850, and December to 76076lsc, rallied
to 76lSc, and was off to 76c at l o'clock.
Receipts here were 80 cars, with 25 cars
estimated for Friday. At ten minutes before
the close July wheat was at 76c, with the
pit active. The wheat market closed without
special feature, with July l2c lower for the
day. Receipts were 80 cars Corn was
active and ranged lower, closing B@4c
below yesterdays closing figures. Receipts
573 cars by rail, and 1890 bu by canal
Oats were quiet and a shade lower. Receipts
1913 cars. Ribs were fairly active, but pork
and lard were dull. Prices ranged within a
rather narrow limit and closed 5@lOc lower
than yesterday. Heavy receipts of hogs were
depressing feature, and Liverpool quoted
lard &c per LIP lbs lower.
ROUTINE REPORT
CHICAGO, June GA very fair speculative
business was transacted in wheat and the
feeling developed was weak. With the ex-
exception of June or cash, prices were low
all round and the deferred futures were the
days closing, declined lie and closed 12c
higher than yesterday. July options at about
yesterdays closing, declined SEC with slight
changes and closed l2c lower. December
weak with the selling turned chiefly to this
future, and prices declined lie and closed 7sc
lower than yesterday The weather bulletin
showed rains East and light rain in the
Southwest and Northwest, but clear in
the South were harvesting is under way
Confirmation of rain i'll Russia had weak
ening effect and was reflected in foreign
markets, which ruled weaker and slightly
lower. Domestic markets easier. with New
York the weakest of all. A moderate trade
was reported in corn, and the feeling deyel-
Oped was little easier. Parties who have
been purchasers for several days past were
sellers to-day, and in the absence of any out
side support the market declined. There
was moderate quantities sold for country ac-
count, and shipping houses were also identi-
fed with the selling interest The market
opened at the closing figures of yesterday,
was steady for time, but soon sold off 4@
tons being full Ac lower than yesterday. A
moderate business was transacted in oats
An easier feeling prevailed and prices de-
ciined slightly. Very little interest was
manifested in the market for hog products,
and speculative trading was limited. Fluc-
tuatlons in prices were confined within
comparatively narrow range, and rather
favored the buying interest.
GENERAL QUOTATIONS..
the leading futures ranged as follows:
Wheat-No 2 July opened at 76Ac, closing
at 75Ac; August opened at 74Ac, closing at
74Ac: September opened at Use, closing at
1850; December opened at 1880 closing at
closing at 34c; August opened at 34ssc,
closing at 341ec; September opened at 351sc
closing at 345sc. Oats-No 2 July opened
at at. 22Ae. closing at 22lsc; August opened at
22Ssc closing at 22ssc; September opened at
22l2c, closing at 22lsc, Mess Pork (per bbD
July opened at ST.: s2l3, closing at Sill. 77la;
September opened at $12. closing at
Sla is Lard (per 100 lbs)-,July opened
$3.50, closing at $6.77ls; September opened
at $3.50, closing at 6.S212. Short Ribs (per
100 lbs)eJg Iy, opened at S5.s7l2, clos.
5 Der Opened At S., closing sn at sS ssa5
Cash quotations were as follows: Flour
quiet and unchanged. Wheat-No. spring,
7Sc; No. 8 spring, nominal; No. red,
Use. Corn-No. 2, $3.50. Oats-No. 2, 2lAc.
Rye-No. 2, 3sc. Barley-No. 2. Nominal
seed. ST .22@1.2 Mess Pork, per bbig
6.07N. Short ribs, sides Noose), S.. $50
$50. Dry salted shoulders (bOxed). So. l2IA
@5.25. Short clear sides (boxed). 500
6.l2l2., Whisky-Distllers' finished goods,
per gal, S1.O2: Sugavs-,Unchanged. Re.
bu: corn, 376, 900 bu; oats. 173 600 bu; rye,
1000 bu; barley, 5000 blu. Shipments
Flour 5000 bbls; wheat, so, 1000 bu: corn.
1875, 900 bu; oats. 26s, 900 bu; barley,
1000 bu.. On the produce exchange TO-
day the butter market was weak; fancy
creamery 15!2@16l5c; choice to fine I2l3c
OILS; fine diaries, 12@13l2; tair to good, So
lOc Eggs firm at 12@12H2c.
r. NJ. NEWPORT & SON.
Investment Bankers,
152, 1873, 154 Drake Block. Loan Money!
on Improved Real Estate Security,