St. Paul daily globe., 1889-02-19
THE COMMERCIAL RECORD.
Bull Leaders, Frightened by Outside
News, Let may Wheat Drop Point
and Half.
Corn Unusually Dull; Oats Active The
Prices for Provisions Tending
Downward.
Financial Operations in the Monetary
Centers---The General Quo
tati0ns.
Special 10 the Globe.

CHICAGO, Feb. 1S.-Ihero was llltio
outside news in wheat to-day, and at
times the pit was quite dull. The range,
however, was wide enough to make q
fair market for scalpers and the action
was abrupt and uncertain enough to
make it dangerous for 'tallerS. LII was
reported early that ten cars OF st. LOUIS
No. 2 had been forwarded here, ana
that six cars were graded No. 2 Chicago
inspection. 1t was also known that
several commission houses were IN
possession of samples from various
other points, and that non-official eX-
pertS declared that the wheat III most
eases will grade here. This led to much
talk about a probable rush of wheat to
Chicago, if present prices prevail for
any length of time. On this theory 1t
was believed that the bull leaders were
willing to let the market go Off few
cents, This action was started at the
opening by selling by those of the local
crowd who took wheat quite freely on
Saturday. 1t appeared that whenever
S109L or a lower point was touched,
there was good buying and that new
men came in. The decrease in the visi-
BILE supply was $50, 50,U00-somcwhat more
than expected, but it had but little effect
on prices. The action in May was as
follows: Opened $1.10$l, sold down to
S10914, to $1.10H, to S1.09M, to S1.1OM,
to S1.1O14, to S1.1OH, to s1.1os4, to s1.10I,
to s1.1O5s, to Sl.O93l, to $1.10sS. to s1.lO
at p. m. July sold 943l@9524c. Re-
ceipts here were 95 cars, about 30 cars
more than expected. The inspec-
ton sheet showed As graded No. 2.
Of these about % cars were on
special track and did not belong
to the fresh receipts. The weakness
which was apparent in wheat most of
the session prevailed at the close. Dur
Ing the last few minutes May sold at
t1.1014. off to s1.0915, closing at S1.O95s,
or 115c under the close on Saturday.
The corn market was the dullest for
weeks. The larger receipts, the I'M
proved grading. the light export clear
ances and the dullness all contributed
to make it little weak. Receipts were
525 cars, 12O cars over the estimate.
Shipments from this point aggregated
$4,000 bu. The visible supply increased
$4,000 bu. for the week. Oats were
fairly active at times, and We're firm
compared with other grains. The visI-
BILE supply increased $4,000 bu. Re
ceiptS, 1876 ears. Prices for provisions
tended downward. There was liquida-
ton by the longs and raiding by the
shorts. There was no good support
from any quarter. The higher prices
for hogs had no influence on prices for
the product.
THE ROUTINE REPORT.
CHICAGO. Feb. 1S.-Wheat was un-
settled and nervous to-day. Business
was not large, but the numerous tluctu-
atoms and actions of the market intlu-
enced moderate trading. Outside busi-
ness was rather light. The opening
was very weak and 14(03lc lower than
closing figures of Saturday, and very
quietly sold off 1c more. The decline
was assisted by the selling of wheat by
parties who were long small quanti-
ties, and the general influence proba-
bly, was the snow storm, which acted as
weakening factor. Later, again
reached the outside range, influenced
possibly by the increase in the visible
supply, but again eased off and closed
about 13sc lower for May and &c lower
However, the changes in the market
were credited more to local specula-
tion than to any outside Influences.
Trade in corn was quite limited
throughout the entire session, and con-
fined largely to the operations of local
spectators. The feeling developed
was rather easier, and transactions
were at slightly reduced prices. COM
pared with Saturday. Oats were in
light demand and easier for May, but
price changes were confined to &c
range. The near futures were stronger,
and February advanced 15e. Only a
moderate trade was reported in hog
products, and the market was easier.
Early in the day the feeling in mess
pork was firmer, and prices ruled 5(D715c
higher. Later, however. a weaker feel
ing was developed, and prices receded
121S@15c. Toward the close more
steadiness prevailed, and prices ad-
vanced 5(0711c, and closed rather quiet
Lard ruled 219(G5c lower, and closed
rather quiet. Short ribs declined 100
Zoe, and closed steady at medium fig
uTeS.
THE GENERAL QUOTATIONS.
Wheat-No. 2, February opened at
S1.0619, closed at S1.061s; March opened
at 81. .0s. closing at SLOTS: May opened
at SLUG, closing at 1.09%; July opened
at 951sc. closing at 94Yc. Corn-No.
February opened at 3411sc. closing at
3A1sc; March, 3411ac, closing at 1850:
May, 353sc, closing at 35]5c. Oats-No.
February closing at 2519c: March clos
ing at 26c; May, 275sc, closing at 27$lc.
Mess Pork per bbl)-February opened
at S10.9715, closing at S11; March clos
ing at S1l; May opened at s11.25, closing
at S11. .17lT: Lard (per 100 lbs)-Feb-
ruary opened at S6.47B5. closing at SC. 5211% ;;
March closed at S6.55; May opened at
$751;, closing at S6.65. Short Ribs (per
100 lbs)-February closed at S5.77115 /;
March opened at $3.50, closing at
$5.T155; May, S6. closing at $685..
Cash quotations were as follows: Flour
firm and unchanged. Wheat - No.
Spring. S1.n6(01 .G615; No. s spring, So
(l9lc; No. 2 red, S1.06@l .061s. Corn
No. 2 34c. Oats-No. 2. 254c. Rye
No. 2, 45c. Barley-No. 2, nominal.
Flax seed-No. l, $l.59. Prime timothy
seed, $1.44011.45. Mess pork, per Dbl,
$l1. Lard, per 100 lbs, S6.55. Short
ribs sides Qoose), S5.s0@5.9O. Whisky
Distillers' finished goods, per gal, S103.
ReceiptS-Flour, 5000 bbls; wheat, 25,-
600 bu: corn. 100000 bu; oats, 10000
bU: rye, 1000 bu; barley, $4,000 bu.
Shipments-Flour, 1000 bbls; wheat,
1900 bu; corn, $4,000 bu; oats, $4,000
bu; rye, 1000 bu; barley, 10000 bu.
On the produce exchange to-day the
butter market was steady; fancy
creamery, 27@2Se; choice to fine, 200
1S@2Oc. Eggs weak; 121a@15e.
R. M. NEWPORT & SON,