St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-01-16
THE COMMERCIAL RECORD.
Covering by Timid Shorts and Heavy
Buying by Bulls Helps the
Wheat Market.
1 Rally in Corn and Oats, bog Prod
ucts Taking Big
Tumble.
Financial Transactions in the Monetary
Centers---The General Quota
tons.
Rnecial TO the Globe.


CHICAGO, Jan. I5.-There were good
many bull influences in wheat to-day. The
strongest was the covering by the timid
ones. Another was pretty good and persist
ent buying by Kent. 1t was also thought that
Fairbank was increasing his line. Among the
houses which were taking wheat quite freely
were Schwartz & Dupee Milmine, Bodman,
Bond Bros and Broker Mills. Later in the
session Hutchinson was ranked as the heaV-
lest buyer, and Leopold Blom not only
bought heavily, but bid 81 for 2000,OO blu
at one time. The trading by Stauffer was
credited to Cudahy. Outside bull news was
the report that the winter crop is suffering in
places. Exports. including -four were 10000
bu. The action in May was 81 to 997sc to
$1.0014, to 81, TO Sl.01. to 99SSc, to S10Ol2,
TO 1.0014 at p. m. The trading was at times
OF the heaviest kind. There was no sys-
tematic covering by the big bears and they
will no doubt attempt to press prices still
lower. Receipts here to-day were 4S cars.
During the last fifteen minutes the wheat
market was quite active and strong. May
sold at 81 00s4 and closed at 1.005s, or Ice
over last night. The unexpected number of
hogs at the yards upset all calculations in the
provision pit. Following the decline of Mon
day. ribs and lard opened 10 to 15c lower
and mess pork 30 to soc lower, and showed
still further declines. Short ribs sold down
10 S6.65 for February and 1919 for May
with rally to Sc. S5for May before the close.
Lard went off to Sis for May, rallying to
81. % before the close. Mess pork sold at
$12.60 for February. and $3.50 for May.
Corn sold at bottom prices early, with bet
ter feeling and a rally OF 14@sac, before the
close There was fair cash and shipping
demand, and the rally IN futures was easy
with improved feeling in wheat. There was
little change in oats for the session. The
price of May touched 27A@27ssc, and 27l2c
TO close. Receipts were III cars.
THE ROUTINE REPORT.
CHICAGO. Jan. 15.-Trading in wheat was
active and the feeling developed decidedly
unsettled and nervous There was big buy
ing and big selling, and between the two
fluctuations were frequent, with moderate
range. The market was again largely local.
The opening was strong, and prices sS0l2c
higher, and with slight fluctuations advanced
lie more. This was due to good buying,
largely covering on short. There was some
wheat taken in for the advance anticipated
after the recent large decline. But the
speculative offerings increased, and the
prices settled back l5sc below the top prices
reached early in the morning. influenced
some by reported failure in the grain trade
at Antwerp. But active buying again set in,
and the purchases credited to large floor
traders and prices recovered S 4c b the
rhe market opened at about yes.
terday's closing prices, advanced Ssc, ruled
steady and closed lac higher than yesterday.
Oats were quiet and steady, and prices
changes were confined to kc. Mess pork
was active and unsettled. Opening sales
were made at zoe decline on yesterdays clos
ing figures, and was followed with further
reduction of 12I2@15c. Later, the market
developed considerable strength and prices
rallied 20Ql22l2c, and closed comparatively
steady at outside figures. Lard was moder-
ately active and unsettled. Opening sales
were made ut 2l20l5c decline; and further
reduction of 5@7lac was submitted to later
IN the day. At the decline, the demand i'm
proved and prices gradually rallied 7l2G910c
and the market closed comparatively steady.
Short ribs were rather more active. Opening
sales were made at 1G@l2l2c decline, and
further reduction of sc followed. During
the latter part OF the session the feeling was
stronger. and prices improved lU@1l2l2c, and
closed rather steady
THE GENERAL QUOTATIONS..
The leading futures ranged as follows:
Wheat-No. . January closed at $3.50; Febr-
uary opened at 96sSc, closing at 96l2c; May,
92l4c. Corn-No. 2, January opened at
3358c. closing at 3354 March, 3434c, closing
at 35c; May, 36l2c, closing at 3t6sc. Oats
No 2 January closed at 24Act February
per bbl-January opened at Sl2.67l2, closing
Mt S1277I2; March. S1295, closing at
$12.S7i May, Sl3G5, closing at S13 121a.
Lard per 100 lbs-January opened at
So 97l2, closing at SOD: March, S7.05,
closing at S7.12l2; May, $7.22l2, closing at
1875: Short Ribs, 90 per 100 lbs
S6.72l2; March, $3.50, closing at
S6.77l2; May. $3.50, closing at $6.S7l2.
Cash quotations were as follows: Flour
nominally unchanged Wheat--No. spring,
S6@SSc; No. . red, 95l8@955Sc Corn-No. 2,
33S4c. Oats--No. 2, 243sD2412c. Rye-No.
., 47c. Barley-No. 2, nominal. Flax Seed
No. 1, S1.64. Timothy seed.P1ime, ST.
@1.57. Mess pork. per Dbl. S12.75@12.sO.
Lard, per 100 TBS, S7.O5. Short ribs Qoose),
500. Dry sailed shoulders (boxed), $6.25
@6.37l2. Short clear sides. (boxed},
$7.22l2@7.25. Whisky, distillers' finished
goods. per gal, $1.03. Sugars-Cut loaf,
7S4@SIzc: granulaled, VAC; standard A, &c.
Receipts-Flour, $1,000 bbls; wheat, 10000
bu; corn, 126, 900 bu; oats, 112 900 bu;
rye, 1000 bu; barley, $1,000 bu. Ship
ments-Flour 5000 bbls: wheat, $4,000 bu;
corn. $4,000 bu; oats, 130, 900 bu; rye,
1000 bu; barley. d, 900 bu. On the produce
exchange to-day the butter market was dull
and neglected: fancy creamery, 25@26c;
choice 10 fine, 20@l22c: fine dairy, 16@19c;
good to choice, I2i2@14c. Eggs easier at
15@16c.