St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-05-22
FINANCE AND COMMERCE.
Small Trading in Wheat at Chicago and
Prices Somewhat Lower.
TRADING MAINLY LOCAL.
The Stock Market Active, Interest Be-
ing Centered in the Changers
and Wizards.
Special TO the Globe.

Special to the Globe.
CHICAGO. May 21-Wheat was weak ana
lower today. There was nothing TO encour-
age buying but the low price. ana that APP
pears 10 have lost force in the more recent
talk about zoe wheat Said conservative
broker to-day: 1.-The Zoe fellows are buying.
No one with money who expects to hold THIS
stuff is trading il. On the other hand mere
are those who think Hutchinson or some
other ineXhaustible party is taking heavily
and quietly and that the crowd OF shorts
will scramble for the wheat yet" The
cables, public and private, were bearish.
Export clearanees of wheat and -four were
light. Not we'll grounded report of injury
to crops any where, and all leading markets
sinking below former bottom prices.
The action here was not sharp,
but surely downward June sold S0l2c,
to 7alsc, to S04c, to soc; July, 767sc, to re
to 76s4e, TO 77c. to 76ssc, TO 76l2c. to 76Ae,
To 76Ssc, 10 76ise, to 76Ac. At o'clock
September, 74ilc to 7Sl2c; December, 7534c
to 75tsc. The first little reaction was on
covering of shorts by Partridge and Cudahy
and from that on the market was heavy.
Hutchinson was regarded us q controlling in
fluenee and he was against any rally. Re
ceipts here were IS ears. New York cleared
10000 pu OF wheat and 5000 bbls of -four
Corn was fairly active. The tone OF the
market was rather strong. but the ttuctua-
tons were narrow. The strength was chiefly
on account of covering by people who
''shorted'' the market yesterday on
the expectation of very heavy
receipts. The good shipping de-
manG for the cash stuff also had a frmlng
influence. Receipts were 1921 cars Oats
were quiet and steady. Receipts, 800 cars.
The provision market started weak. but
closed strong after fair advances. Receipts
of hogs were about 1000 and prices after
sales started, weakened 5 cents. On the
floor lard and ribs were dull and unchanged
early. with closing prices sc better. Short
Rits-June, $5.72le@5.7Tla; July, 5.S2l20
5.S7ls Lard closed-June, $6.75; July,
S6.s2ls. July pork sold at Sl1.55
10 SLIGO. to 11.5O, to fl1.75. to
11.7O at the close. June closed al $1,000;
August. S11.72i2. Brown Il Co. bought
products early Armour & Co. sold on the
first bulge.
ROUTINE REPORT.
CHICAGO May PA lower range of prices
was established for wheat to-day, and the
feeling was weak most of the session. There
was only moderate trade, and no new teat-
ures were developed Trading was mainly
local. and the operations of prominent floor
trader on the selling side proved sufficient to
create weakness. At the opening the market
was trife fiTlner and sales made at 1s@4c
over the closing figures of yesterday. but
rather free offerings caused gradual shrink
age in values, and prices declined 7sc. and
then ruled steady. moderate buying at this re-
iuction holding prices. and the market closed
about l2c lower than yesterday. The ln1u-
ences brought to bear OH the market were
generally of character to create weakness.
A steady feeling prevailed in corn, and prices
showed but little change from yesterday.
There was good local demand from shorts
who sold yesterday, and this had tendency
10 absorb offerings and steady the market.
The market opened shade above the clos
ing prices eff yesterday, fiuctuated within Ac
range. and closed lsG1s4c higher than yester-
day. In oats a fair business was transacted
within narrow range of prices. More bust
ness was done in pork and the market was
somewhat unsettled and prices irregular.
Early sales were made at 5@10c advance,
put this appreciation was soon lost.
Later the market was stronger and
prices rallied 20@25c. but settled back again
2I2@5c, closing steady. There was more
doing iii lard. and prices were irregular. The
market opened rather weak at yesterdays
close, but prices were advanced 2la@5c.
Later the market was not quite so firm, and
prices favored buyers near the close. Con-
Siderable interest was manifested in the mar
ket for short ribs, and trading was active.
The market opened tame at yesterdays
close, but the demand was fairly active, and
prices rallied 5@71ac. Toward the close the
market was not quite so firm, and prices de-
rlined about 2Lac and closed steady