St. Paul daily globe., 1889-02-27
Wheat Rather Excited, Opening Higher,
With Slightly Bullish Session
Throughout.
tnly an Average Days Trading---corn
Oats and Provis-
ions.
The Financial Record---Stocks and
Ronds---Whisky and Live
Stock.
sneeiar to the Globe.

were an excited opening, with higher
prices, break of nearly &c, slow
rally of about lc, with dullness later in
the day. The early news was bullish.
The alleged big buying by Fairbanks
before the close yesterday, the firm Llv-
erpool cables and fair clearances at
New York, all led the crowd to look for
an upturn this morning. There was
scramble at the start, and the first
prices for May were from $l.0S55@
1.091S almost at the same instant i'll diff
ferent parts of the pit. The clique
buyers, however, did not take wheat,
and the numerous small holders took
fright and unloaded. 1t took but
short time for the prices to melt away,
and the bottom was touched at $1.0613.
At S1.0615 there was demand for
everything that was offered and the
price imm ediately bObbed to S1.071s.
Hutchison, who was seller at the
start, was buying around S1.N and below.
McDoueall IL Co. were also good buyers.
After selling at 1O73seand back to 1875,
May rallied to 10S1a about l O'Clock.
After that hour May eased off on realiZ-
lIlS safes W tiiV OIOolho P1iSS' u i'N OAAiS
reported sales of 100 cars of cash wheat
at Toledo to Ohio millers. The clear
ances of wheat and flour at New York
aggregated 49, 600 bu., the wheat
amounting to $1,000 bu. Receipts here
were $50 cars, with SO cars of No. 2
grade, There was considerable amount
of talk about the trade getting OUT OF
Nav and into July. The only evidence
of this was the fact that July opened
15c higher at 9411Sc, and suffered but lc
decline to 931@c, while May went off 29sc
from the top. Corn was dull. There
was nothing to encourage speculative
buying, and with little support the pit
prices went off early but closed about
steady for all futures. Receipts were
AS cars. Oats were active and prices
broke sharply on all offerings of May.
Receipts were 143 cars. Provisions
were firm. and prices ranged 2115@10c
higher.
THE DAYS TRADING.
CHICAGO. Feb. 26.--The volume of
trading in wheat was fairly large and
the feeling unsettled, within lower
range OF prices. The market opened
strong and %(01c higher. under good
buying, with shorts probably forced in
to some extent. The favorable tenor of
the European market advices may have
helped to strengthen the feeling. The
quantity of wheat on ocean passage
also showed decrease. At the ad-
vance it was noticed that the specula-
tive offerings increased, and this
checked further advance, and later de-
veloped weak feeling. Many opera
tors have been under the impression
that some of the large traders on the
bull side had been realizing for sew
eral days, but were reluctant about
selling themselves on account OF the
uncertainty of the market, but to-
day they took court ge when it was
found that trades with some parties on
the long side would settle who hereto
fore would not. Prices under the pres
sure 10 sell declined 25Sc below outside
figures paid early in the day. From
inside prices again rallied &c, tluctuated
for a while within 15c range, and closed
about 1Sc higher than yesterday, There
Was only moderate business reported
Ia corn. Transactions were largely
local and fluctuations limited to &c
range. The feeling on the whole was
trife easier, though values did not show
much change fran yesterday. An in-
creased business was transacted in oats
at lower range of prices. There was
decided disposition on the part of oper-
ators to sell, several heavy traders TAX
ilg an active part in that side. Buyers
were Indifferent about supporting the
declined 16c, when they be-
gan bidding freely and stopped
further break. Around inside figures
trading was heavy, shorts being free
buyers. A rally of &c followed the de-
press.on, and the market closed steady
at net decline of &c from Mondays
sales. Quite an active business was
transacted in hog products, and the
feeling was unsettled. The liberal re-
ceipt of hogs and lower prices caused
weaker feeling, and the offerings on
speculation account was quite free.
Prices declined moderately, but the
good demand from the short interest
and from outside parties checked the
downward tendency. Trading during
the latter part of the session was only
moderate, and prices tiuctuated slightly
within small range, gradually advanc-
ing to outside figures and closing firm.
THE GENERAL QUOTATIONS..
The leading futures ranged as follows:
Wheat-No. March closed at $l.0514;
May opened at $1.0S3s, closing at $1.0S11s;
July, 941lc. closing at 941sc. Corn
No. 2 March closed at size; April
opened at 35c, closing at 35e; May, 351zc.
closing at 3515c. Oats-No. 2 March
SlOoSU oo "sc/2Ss tuoS opcII''u az ~f/SOs
closing at 271l: June. 265sc, closing at
2634c. Mess Pork (per bbl)-March
opened at S11.O5, closing at S11.15; May,
$11.15, closing at S11.32115; June. s11.25,
closing at S11.40. Lard per 100 lbs)-
March opened at 1856, closing at $685.;
May, $695, closing at $3.50; June, Sc 80,
closing at S6.9215. Short Ribs per 100
lbs)-M&"h opened at s6.15, closing at
1920; may. S6, closing at $6.O715:
June, s6.0719. closing at S6.l219.
Cash quotations were as follows: Flour
firm and unchanged. Wheat-No. 2
spring, s1.0424@1.045s; No. 8 spring,
s5]l@9oc; No. red. sl:o43l. Corn-No..
2, 3411s03414c. Oats-No. 2, 25s5c. Rye
No. 2. 431a(@439lc. Barley-No. 2
nominal Flax Seed-No. l, S1.52.
Timothy Seed-Prime, S1.42. Mess
pork, per hbl. S11.10@11.15. Lard, per
100 lbs, S6.771s @6.SO. Short ribs sides
~Qoose), s5.90@6. Dry salted shoulders
(bOXed), S5.25@5.3719. Short clear sides
lboXed), $6.1219@6.25. Whisky-Distil-
lers' finished goods, per gal, Sl.03. Su-
gars unchanged. Receipts-Flour, 1900
bbls: wheat, $1,000 bu; corn, 10000
bu; oats, 1000 bu; rye, 1000 bu; bar
ley, $1,000 bu. Shipments-Flour, 5000
bbls; wheat. $1,000 bu; corn, $4,000
bu; oats, $4,000 bu; rye, 1000 bu; bar
ley, $4,000 bu. On the produce ex-
change to-day the butter market was
steady and unchanged. Eggs steady
at 13013Lc. e