St. Paul daily globe., 1889-03-07
AMONG BULLS AND BEARS.
Eothing Very Sensational in the Chi
cago Wheat Market Yesterday.
WEAK OPENING AND A RALLY
Stocks in New York Close a Fraction
Lower In Around
Prices.

Special TO The Globe.
CHICAGO, Ills, March 6.-The wheat
market was disappointment in many
respects to-day. The weak cables and
the magnificent weather added to the
action on Tuesday caused by very
weak opening. The early weakness
was of short duration, and fairly good
buying by both shorts and longs started
prices upward. After slight rally
there was enough strength to frighten
the remaining shorts, and still later
stop loss orders put prices up quite
sharply few points. The best prices
of the morning were touched shortly
before l2 O'Clock, and half an hour
later there was an easier feeling and
sc decline. May sales were
s1.O0s4 to opeu, then to Sf.Oo15
@1.014@1.01@1.0211s "a LOIS (@1.O1Y at
l p. m. There was little to
disturb the wheat market toward
the close and prices were little changed
after p. III. July sold between SS7sc
and S95sc. Among the leading buyers
early were Partridge & LinGblom.
Hutchinson bought freely around S1.01.
Receipts of wheat here were 81 ears,
with 90 cars of No. winter. Primary
receipts we're about 10000 bu. Out Of
$1,000 bu taken for milling at st. Louis
about $4,000 bu were No. 2 stuff. Lon
don cables say there was no sympathy
with the sharp decline here. There was
fair inquiry for cash spring wheat
here, but holders are not anxious to sell.
nnfc fbor al
There was some free selling by longs
early and the price of May yielded
to 26Mc. Shorts buying, later
caused an advance to closing
prices. Receipts were ITO cars.
Corn was fairly active and steady. Re-
ceipts. 292 cars. The advance in the
price of hogs, with the better feeling
which has existed for few days on the
floor, caused another very material ad-
vance in the price of hog products.
Sales for May were as follows: Short
ribs Of I'D &c higher at $3.50, sold at
$685., and closed 10c higher. Lard
opened at 81, sold at $T.10, and cl ;ed
nc higher. Mess pork was more act
i've and strong. The opening for May
was at S12 and the advance put the price
to Sl2.30-nearly soc over the close yes
t-rday, and the close to-day was 35c
higher fOr the day. Shorts were nerv-
Gus. There was talk of hutchinson
being under the pork, but nothing
showed it.
THE RECORD OF THE DAY.
CHICAGO, March 6.-Only moderate
business was transacted in wheat to-day
and the feeling was unsettled. Fluctu-
atiunS were not violent, but frequent,
within 15sc range for May. The open
ing for May was 1014lc lower than yes
the day, rallied with numerous fluctu-
atiOns, 12sc, declined &c. recovered 1lc
and closed abe { sc higher than yester-
day. July II g steadier and after
opening &c lower. advanced &c and
closed same as yesterday. There was
nothing new in the situation and a
mystery still surrounds the trade,
which operators are unable to de-
cipher. The impression prevails
that one of the large bull trad
ers had sold out his holdings, but
whether this operation merely repre-
sented side issue. and was actually in
conjunction with other bull houses. it
is difficult to say. There was ali effort
made to-day to hold the market and
prevent further decline, buying orders
Oh the break being sufficient to cause
reaction. A quiet, steady feeling pre-
vailed in corn most of the session, trad
ing being only moderate and almost en-
tirely local. The market opened
at yesterdays prices and closed
shade lower. Oats were more
active during the first half of the
session than Oh any day this week. On
unloading by longs, May declined &c,
but buying,by shorts caused a rally to
opening figures, and the closing was a
shade lower than yesterday. The mar
ket for hog products was the center of
speculative attraction. and trading was
quite brisk. Mess pork opened at i2I
@15c advance, but this was partially
lost. Later the market exhibited con-
siderable strength, and prices advanced
S5@371ac. This tended to enlarge the
offerings, and prices receded 1215(015c,
the market closing steady. Lard and
short ribs followed the lead of pork.
THE DAYS QUOTATIONS.
The leading futures ranged as follows
Wheat-No. 2 March opened at 9S14c,
closing at 9971sc; May, sl.O055, closing at
$1.01T; June, 96c, closing at 96Yc; July,
Ss5sc, closing at S915c. Corn-No. 9
March, closing at 343sc; May, closing
~ oo/SS. ouilSs CIOoiDS DIT OO%4C. odlS-
No. 2 March opened at 25sc, closing
at 254c; May. 2711sc, closing at 271sc;
June, 261ac, closing at 261ac. Mess
Pork per bbl)-March, closing at s12:
May, opened at s12, closing at S12. .171a
June. sl2.0211s. closing at S12.25. Lard
(per 100 lbS)-March, opened at $685.,
closing at S6.95; May, S7.071a, closing at
5000; June, $7.071s, closing at S7.1O.
Short Ribs (per 100 lbs)-March closed
at S6.25; May opened at S6.4O, closing at
$3.50; June, s6.3719, closing at s6.4O.
Cash quotations were as follows: Flour
quiet and unchanged. Wheat-No. 2
spring, 9S34@9919c; No. 3 spring, Csc /:
No. 2 red, 9s$l@9915c. Corn-No. 2,
S4Slc. Oats-No. 2, 254c. Rye-No. Q.
1870. Barley-None. Flax Seed-No.
l, $1.4S. Timothy Seed-Prime, s1.4O.
Mess pork, per bbi, S1l.05(912.1 10. Lard,
per 100 lbs, s6.971s(07. Short ribs sides
QOose), $7.2597.3O. Dry salted shoulders
(boXed), $5.25@5.3712. Short clear sides
(boxed), S6.50@6.621a. Whisky-Distil
lers' finished goods, per gal, sI.O3. Re-
ceipts-Flour, 13,000 bbls: wheat, 2S,OOO
bu; corn, 1Sl, ZOO bu; oats, 16S,O0O bu +:
rye, 1000 bu; barley. 4l,O0O bu. Ship,
ments Flour, 10000 bbis; wheat.
21,OO0 bu; corn, 14S,0OO bu; oats, 76, ,0OG
bu; rye, 1000 bu; barley, $4,000 bu. On
the produce exchange to-day the BUT
ter market was steady and nnchanpad