St. Paul daily globe., 1889-02-06
THE COMMERCIAL RECORD.
Chicago Money and Muscle Centered in
the Wheat Pit, Resulting in
a Big Bulge.
Extreme Quietness In Corn and Oats,
the Provision Market Also
Being Tame.
Financial Operations in the Monetary
Centers---The General Quo
tations.

special TO the tJI0De.
CHICAGO, Feb. 5.-Transactions in wheat
in this market to-day were on big scale:
The market was on the advance. ana large
sales of wheat did not stop it for any length
of time At the opening prices were 1@1Mc
higher here, and other markets were higher
in proportion. On the first bulge, May wheat
sold at $I.OlA. Then there was tre-
mendous selling by number of big houses,
scalpers and "tailers'' With all This flood of
wheat there was break, first of 7sc, from
$1.O1 10 S1.OOss, and after rally to S1.005s,
second break to 81. OLA, only 1c from the
highest prices early That was the bottom
for the day. The market rallied very slowly
about IL a. M to Sl.OOI2. Liver
pool cables were bullish, giving
American wheat tending higher. Then
came Paris cables giving wheat excited
and 1l2c higher. Then the crowd turned in
to buy. There appeared to be some force
under the market not seen on the surface.
Prices began to advance. There were some
foreign orders to buy. New York bought for
projection on what they call the great scalp
by Chicago money and muscle. There was
also considerable outside trade talked Of.
From II 30 a. m. to 1880 p. m. May moved
up from Sl.OO12 to S1.V2iS. There was a re-
action to 81 .01ls at D. N. July sold early
at 91Ac, then went off to S95sc, and again
advanced to 9Ol2c. There was no significance
i'll the wheat movement. Receipts were o1
cars. The strength in wheat proved but
bulge or big scalp, and during the last half
hour prices reacted to within l2c OF last
night This was tsc advance for the day,
ana a break from the top price OF
1Iac The trade in corn was light, and the
range of prices for futures narrow, and clos
ing prices little changed from last night.
Receipts were 80 cars over the estimate, at
647 cars, of which only 6 cars graded No. 2.
Oats on future contracts were very quiet.
Prices for the day did not vary lsc from the
close last night. Receipts, 124 cars. The
provision market was a tame one. Receipts
of hogs proved to be over 90, 900, and prices,
after starting lOc higher became easier, with
packers slow buyers. Prices in the pit started
71ac higher for short ribs and lard, and 1Oc
higher for mess pork. May ribs sold at
Sc. 27I2@6 80; lard, S7.O5@7.1O. May pork
opened at S11.9O, sold at S11.S7l2, off to
Sl1. .7ola, up to S11.8O again, and before the
close was steady at $11.77la, or little better
than last night.
THE ROUTINE REPORT.
CHICAGO, Feb. 5.-Trading in wheat to-day
was active and the market rather excited.
Inore W as i've covering ny SuUfIS anu tLC
various advances were met with more or less
realizing. An unsettled feeling existed, and
while the May delivery maintained fair ad-
vance over yesterdays closing: the July fu-
ture after ruling higher sold OFF very sharply
to point below the closing yesterday. A
c. ntinuation of yesterdays tirmness in
fluenced by the sudden change to colder
weather carried prices at the opening l@1Ac
above yesterdays closing, then sold Off with
FREQUENT fluctuations under free offerings lc,
I,,t loto
and closed about l2c higher than yesterdag,
while July closed Iec lower than yesterday.
The firmness was due in part to the strong
tone of European advices. Corn was only
on the near futures, while the
more deferred deliveries showed little
change from yesterday. The market
opened at yesterdays closing prices, and
under q fair demand advanced l5@4c, ruled
quiet and inactive, closing lsc higher than
Yesterday. Oats were easy. with a moderate
trade noted. Trading was moderately active
in mess pork, and prices fiuctuated consider.
able. Business was almost exclusively IN
contracts for May. The market opened firm
at ioc advance. and was followed by further
appreciation of 5@7l2c. Later the offerings
were increased somewhat. and reduction OF
15@1TLac was submitted to-. Near the close
prices rallied II @12l2c, and closed steady
Quite O liberal business was transacted IN
lard, especially during the early part of the
dav. The market opened rather firm at 90
7l2c but this was lost during the early part
of the day. Later the market ruled firmer
and prices rallied again, and the market
closed steady A fair trade was reported in
the market for short ribs, and the feeling was
stronger Prices were advanced 7l2C per J. O
lbs early in the day, but a reduction OF so
7lac was submitted to later. Near the close
the market was steadier, and prices rallied
2I2@5c and closed quiet.
THE GENERAL QUOTATIONS..
The leading futures ranged as follows:
Wheat--No.2 2, February opened at 97Ac, clos
ing at 97Ac; March, 9Sssc, closing at 9Sl2c;
closing at 9ss4c. Corn-No. 2, February open
ingat 35Ac, closing at 35lsc: March, 3oAc,
closing at 35I2c; May, 3i34c, closing at
36s4c. Oats--No. 2, February closed at 70 Ac;
March closed at % l4c; May. opening at Y. lee,
closing at 27ssc. Mess Pork .{per bbD-Feb-
ruary closed at Sl1.47l2; March closed at
SI157l2; May opened at S1l.sO, closing at
$l1.77l2. Lard (per 100 0lbs)-February closed
at S695 March opened at S6.95. closing
at S6 97i2; May. S7.,l0 closing at S7.u2ls
$6lO March opened at $6.lO, closing at
S6.12Ia: May, S630. closing at S6.27l2.
Cash quotations were as follows: Flour
firmer and unchanged. Wheat-No: spring.
S5Ssc 9efse. Co Co'rn-No. 2. S5S@55Ac. oats-No'
2, 25Ac Rye-No. 2, 46I2c. Barley, none.
Flax seed--No /, $l.6O. Timothy seed none.
Mess pork per bb1, S1l.5 @11.62la. Lard,
per 100 lbs, 81. Short ribs sides Qoosel,
S6. O5@6 10. Dry salted shoulders (boxed),
So @6. l2l2. Short clear sides (boxed),
So 3712@6.5O. Whisky-Distillers' finished
goods, per gal. S1.03. Sugars-Cut leaf. 73s
@Slac; granula,ed, 7lsc; standard A. 67se.
ReceiptsoFlour. II OoO bbls; wheat, 10000
bu; corn, 2s6,00O bn; oats, la, 900 bu;
rye. 5000 bu; barley. 1000 bu. Shipments
Flour, 1O,lG0 bbls; wheat. $4,000 bu;
corn, 2O2, 900 bu; oats, 65, ,0n0 bu; rye,
1900 bu barley, Al 900. On the produce
exchange to-day the butter market was
steady. Fancy creamery, 27@29c: choice
to fine. 2O022c; fine daries. 2 @22c; good,
lm12c. Eggs-W eaker at 13Gl3lac.