St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-04-17
TUESDAYS TRADE TIPS.
July Wheat Shows Unnistakable Bear
Symptoms Other Futures Quiet.
ACTIVITY IN PROVISIONS.
Unusual Strength Without Any Es-
pecial Cause---Stoeks, Bends, Prod
uce, Dry Goods.
Special to the Globe.

CHICAGO, Ill.,, April 16.-On the
whole to-day there was less news, less
trading and less fiuctuation in wheat
futures than the average of late. The
market was far from dull, however,
and decline of nc in July from the
close last night till noon to-day gave
the bear scalpers feast, and aroused
the bulls to the fact that unless their
forces are united July will soon be at
soc. Once more Hutchinson got on the
wrong side and failed to hold the mar
ket. He was a buyer early, with
Cudahy leading the selling. Heath IL
Son had selling orders in July, and
with bearish news from crop sections,
and no encouragement from cables, and
little local support, prices easily went
lower without any good reaction for
the day up TO p. m. The Beerbohm
cable gave the amount of wheat on
ocean passage largely increased. and
this, with the rainfall and bright
crop prospects in the West, made
raiding safe and popular thing for the
trade. Added to these influences was
the fact that New York and st. Louis
also went off 1c all around. The shaky
condition of speculative markets in
the Northwest also made buyers eau
tious. The action in futures here was
rs follows: May, S33l@S714c to size;
June, SS$4@S1&c to S2116 0S1c to S21lc at
| o'clock. There was fair rally from
bottom prices in wheat before the close.
May reacted to SS14c. sc under last
night; June TO SSc, &c under last night;
July to S235c. OF &c lower for the day.
The better feeling at the close was on
covering by shorts and the discovery
that fair amount of cash wheat was
taken for shipment. Receipts, 80 cars
wheat, 567 cars corn and 156 cars oats.
There was a good shipping demand for
low grades of cash corn and foreign
markets were higher. Receivers were
buying rather freely, and there APP
peared to be little of the grain for sale.
Local receipts were 81 cars larger than
the estimates. but the market, after
opening 1s@14c off, became quite firm.
There were, however, the usual narrow
price fluctuations. May opened 341ac
and subsequently sold around 34%c.
There were 100000 bushels cleared
from the three important Atlantic ports
yesterday. Trading in oats was light.
The bulk of the business was the chang
ing of May contracts to June. The
market for May was especially firm.
May opened at 2414c and sold to 245sc.
COngdon bought $4,000 bushels at the
latter price, and this was the largest
trade made. Provisions developed IN
lc{r Dol1 n
mine-Bodman, Wolf, and Cudahy were
all buying pork very freely, but in
quiet way. Ream was the principal
seller. His selling caused the only re-
action that the market had. May pork,
which had sold at S11.S715, reacted to
S11.S0, but subsequently sold to S119O.
July was the most active future in pork.
lard and ribs.
THE DAYS TRADING.
CHICAGO, April 16.-A good business
was transacted in wheat early in the
day, and after that the market ruled
more quiet. The feeling developed was
weaker, and the advance of yesterday
was almost entirely lost. The opening
for July was 4@12c lower, and with
only slight fluctuations, declined &c
more, recovered &c, again eased off,
Z
day. The change in the market, from
the strength denoted yesterday, was
surprising to many, and attributed to
weak and lower Liverpool advices.
Rather liberal increase on ocean pas
sage is noted: and general rains in the
Northwest, where rain has been needed.
A moderate degree of activity was man
ifested in corn early in the session,
after which the pit became more quiet.
The feeling Oh the whole, was better,
and slightly higher prices were
business was only moderate,
and fluctuations confined to
&c range. The firmer tone was at
tributed be some to the strength IN pro-
visions. The demand was confined
largely to shorts, there being consider
able selling of July and buying of May.
Oats were traded in fairly. and prices
covered range of &c. A steadier feel
ing developed, but prices did not get
above yesterdays outside figures. The
close was steady at ]5@14c above yes
terday's. Quite an active business was
transacted in mess pork and the market
exhibited considerable strength. The
market opened firm, and. with free buy
ing, prices were advanced to 2715@30c.
Later the demand slackened and prices
receded TO 12@15c. Toward the close
the feeling was Steadier and prices
rallied to 1715@20c, and closed COM
paratively steady. Only a fair trade
was reported in lard and the feeling
was stronger. Prices were advanced
59719c per 100 lbs, and the market
closed steady. An active trade was re-
ported in short rib sides, and the feel
ing was decidedly stronger. Prices
were advanced 719@1oc, and the adj
vance was moderately well supported.
The leading futures ranged as follows
Wheat-No. 2 May opened at SS3lc,
closing at SS14c; June opened at SS3Ic,
closing at SSc; July opened at S25zc,
closing at S214c; year opened at SIC,
closing at 7714c.. Corn-No. 2 May
opened at 3419c, closing at 347sc; June
opened at S41sc. closing at 3539c; July
opened at 3536c, closing at 35lc. Oats
No. 2 May opened at 2414c, closing at
245sc; June, opened at 243sc, closing at
2419c; July, opened at 2414c, closing at
2419c. Mess Pork (per bbD-May
opened at SLIGO, closing at S11.95: June
opened at S11.70, closing at S12.O215
July opened at S11.S0, closing al
S12.10. Lard (per 100 lbs)-May opened
at $685., closing at $500; June opened
at S6.S71@, closing at $685.; July
opened at $685., closing at ST
Short Ribs per 100 lbs)-May
opened at S3.9O13 closing at S6.0712 June
opened at 500. closing at els:
July opened at S6.10, closing at 1925
Cash quotations were as follows: Flour
steady and unchanged. Wheat-No. 6
spring, size; No. spring, 74@75c
No. 2 red size. Corn-No. 2, Sac
Oats-No. 2, 2415c. Rye-No 2, 43c
Barley-No. 2, none. FlaXseed- L
E1.55. Prime Timothy Seed-s1. 30CQ1 .85
Mess Pork Per Dbl, Sl1.90. Lard-Pel
100 lbs. $685.. Short Ribs-Sides loose)
s6.05@6.l0. Shoulders = Dry saltec