St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-09-27
BIG DEMAND FROM ABROAD
Secret Of the Phenomenal Strength
Shown in the Wheat Market
Yesterday.
plunqers Forced 10 Buy for Protection
and Prices Naturally Go Sky
ward.
Financial Operations Of the Money
Kings---Fhe General Quo
tati0nS.

Chicago, Sept. 26.-Wheat opened at e2l4c
for December, and at 1880 SOLD at S4l4c Tor
the same month. These three hours VIII
messed broad and excited market III the
nit. which so lar from being manipulated by
any one man or set of men was quite the re-
verse, the advance lifting some OF the biggest
professional traders off their feet and fore
ing them TO join the natural forces when
carried wheat Up easily two cents IN three
hours. The secret of the strength was found
in the foreign demand, the higher cables,
lighter receipts at important points and the
general attention which has been attracted
40 wheat bv the stubborn fight of the greater
mart of the trade here TO keep prices down
The market opened with December ssc
under the close last night on no
sign of anything unusual in the trading
Hutchinson bought May early and Brosseau
sold December was at SPA to S2c12, oil 10
S2Ac up TO S2s4c, off to S2ssc. The bulge
TO s254c was on buying by Partridge,
Schwartz-Dupee and a few shorts. Then
SehYartz-Dupee turned sellers and unioaded
500 GOO bushels, which caused the setback
10 S2sSc About this time second cables
came Ia@ld dearer. AT the same time the
ouying became general and the market grew
strong, helped on by the fears OF the shorts.
Chandler, Brown, Smith Il Co. and many OF
the plungers turned in 10 buy. December
went 10 S3l4c or 1c over the opening price.
Mitchell, Linn, Lindbloom and many other
leaders who had sold, thinking the top was
reached, were forced 10 turn to the buying
side for protection. Still later the estimate
for Fridays receipts was given at only I'D
Ears. There were rumOrs of export business
here and at Duluth, The already frightened
shorts kept on buying, and the new pull
features brought SchwartZDUpee again
into line. and McDougall bought heavily TO
cover short wheat for somebody. On this
last burst Of buving the price went to 64l9c,
and that was the top till l o'clock May
wheat sold at sage and S6i2GS65Sc. The
best prices of the day were reached in wheat
during the last ten minutes of the session.
Receipts were III cars winter wheat "A cars
spring, 5C4 cars corn and 220 cars oats by
rail, and 6,1O0 bu winter wheat, DC, 500 bu
corn and 5000 bu oats bv canal. Withdraw
ais from store were 59,O5S hu winter wheat.
3,4s7 blu spring 29G. 1868 bu corn and SO, s3s
bu oats. Corn showed some strength early
and prices were advanced 1a@Ac. Later
prices weakened and closed 14clower for the
near futures Oats were dull and Ise lower.
There were no developments in the october
pork deal to-day growing out Of the action of
the directors in fixing the price for margins
at $3.50. No additional margins were called
so far as learned under the privilege. The
market was comparatively tame also for
other pork futures and other hog products
THE QUOTATIONS..
The leading futures ranged as follows:
Wheat-No. . October opened al Sic, clos
Ing at s2s4c December, SGT {, closing at o4ssc;
wear SOI5c closing at S254c; May. S514c clos
fycv of Cnrn-Nn y nffnhlr OnnnQd q
3ls4c, closing at 3lI2c; November, Blaze,
closing at 3lSsc; December. 3llse, closing at
3lAc; May, 33S4c, closing at 33Ssc. Osts-So.
October opened at 19l4c, closing at 19lsc;
22ssc, closing at 225sc Mess Pork (per bDl)
October opened at S11.f2la, closing at
SI1.O5; November. S9.52l2. closing at $3.50;
January, S9.37I2, closing at S9.37l2. Lard
(per 1O0lbs) October opened at So, closing
at SOLO, November, $5.95, closing at
50 50; January $3.50, closing at So 80.
Short Ribs per 100 lbs)-October closed al
S.. 10; January, S475, closing at 81 72l2.
Cash quotations were as follows: Flour
in good local demand with some holders ask
ing 1O@l5c advance. Wheat-No. 2 spring,
s29s@S2s4c; No. spring, 7IQ73c; No.
2 red. S25s@SSS4c Corn-No. 2, 3lI2c.
0ats-NO. 2. 1850 l9kc. Rye-No. 2, 4ll2c.
Barley-No. 2. nominal Flax Seed-No. /.
81 256l. 26. Prime timothy seed, 81 900
I.22. Mess Pork-Per Dbl, S1l. Lard-Per
100 lbs, Sc 1OQ6.12l2. Short ribs sides
0oose), s.. ESQ 80. Dry sailed shoulders
boxed. S437I2044O. Short clear sides
boxed, S.. 50Q5. 62Ia. Whisky-Distllers'
finished goods per gal, S1.02. Receipts
Flour $4,000 bbls; wheat. $1,000 bu; corn,
BIZ 900 bu; oats $4,000 bu; rye. II, 600
bu: barley, $4,000. Shipmenis-Flour TO-
300 bbls; wheat, 10000 bu; corn, 3S4, 900
bu; oats, 1000 bu; rye, %, 900 pu; barley,
81 900 bu. On the produce exchange to-
bay the butter market was active and IN
hanged. Eggs, 15@15I2c.