St. Paul daily globe., 1889-01-07
THE COMMERCIAL RECORD.
Old Hutch Unloads May Wheat, Fright
ems the Operators, and Causes
Prices to Drop.
Corn Dull, Oats Sag Fraction, Pro
visions Closing at Outside Prices
for the Day.
Financial Matters in the Monetary
Centers--- General Quota
tons.

Centers---The General Quota
tons.
Special 10 the Globe.
CHICAGO. Jan. 5.-The wheat market was
not affected by outside business or inf1u.
ences. There was more or less buying by
Dun & Co., Mitchell and others early, and
the buying by the crowd found them loaded
about noon, with the price of May about
S1.05. Hutchinson then turned seller, and
frightened the crowd into unloading, and
sent the price of May to 81. .O334, or nearly lc
below the bottom point touched after the
opening. After the scare Hutchinson was
light buyer and the market turned up l2c to
$1.t414 before l p. m. Up to the time OF this
sharp break the price had ruled above the
close last night. The action OF May was $1.O5
TO ST. O45s to 81 .O5l2 to 81 .03s4 to $1.04A at
1 p. m. July sold off from 96c to 94s4c.
Receipts So cars. with no No. 2, except IL
cars on special track. Primary receipts were
but 10000 bu. At Baltimore $4,000 bu
cleared. New York closed on slight bulge,
with May at S1.O6l2. The official stock of
wheat in the United Kingdom was reported
at 10000 bu. Opinion is divided on the Wis
ipAO supply: sOulO PlOulSoAh0 ~ UNSAOtsSS'
others an increase. The figures indicate
small decrease, depending more or less on
the action of Minneapolis millers. There
was another dip in prices in wheat just be-
fore the close, when May touched S1.037s,
and closed at 81 OILS, or s4c lower than yes
terday. Corn was very dull all session. The
range of prices was narrow and closing
prices were the same as last night.
The receipts were 233 cars, and
the estimate for Monday 242 cars. Only "a
cars OF No. 2 corn came in. The receipts
for the week were. a little over 1000, 900 bu,
while the shipments exceeded 100000 bu.
Atlantic ports to-day were 4l3, 900 bu. JAN
uary closed at 333sc; February, 34@36s4c to
close; May, 36ssc down to 36ssc, and closed
at 3634c. There was a stir among the oper-
ators in oats early, and the unloading which
has been going on for some time was contin-
ued, if not concluded. The free selling put
the price of May down to 27l2c, and the
close was at 27S4c, or Ac under last night.
ReceI pts were 90 cars, with Ill cars for
Monday. The provision market was weak
and strong by turns to-day. Opening prices
were 2l2c higher for ribs and lard and lOc
higher for mess pork. Before the call ribs
and pork settled back to the closing price for
May-S6 90 for ribs and $7.52I2 for lard.
About noon there w's return of strength,
and before the close May ribs sold up to
S.. .O2ls and Nav lard to S7.6512, an advance
over last night of 7l2c and 1Oc respectively.
Nav pork sold at $3.50 down to $l3.15,
and before the close at $1337l2, or 17l2c
over the close of yesterday. Receipts of hogs
for the week were but 81, 200, against $780,
600 last year. Packing is 337, 900 hogs be-
hind to date. Receipts at six packing points
to-day were $4,000 hogs, against $4,000 one
year ago. Prices at the yards were 5@1Oc
higher to-day. Provisions closed at about
outside prices for the day; January, $50
ribs. S745 lard. S12.95 pork; May, $7.O2
ribs, $7.62I2 lard, $l3.35 pork.
THE ROUTINE REPORT.
CHICAGO Jan. 5-There was very fair
aggregate trade in wheat to-day, and the
feeling was unsettled. The news was of a
variable character, and generally made to
appear favorable to the bull side, and al
though prices ruled higher at the start, the
speculative offerings were too heavy to sus-s
tain the market, and weakening set in. A
prominent local operator was credited with
having fed the market with wheat most of
the session, and as other operators were all
brought most of this out, thus aiding in
establishing the decline The opening was
some lsc higher than yesterday, advanced 12c.
and then declined lac. advanced s4c: and
closed B4c lower than yesterday. There was
a rumor that drouth in India was doing DAM
age to the crop there and that shipments
from Russian ports were cut off by ice. Some
export demand was again reported at Balt1-
more. Corn was in much the same condl-
ton as yesterday, there being but little d1spo-
sition among local operators to trade to any
extent, and the pit at times was quite de-
serted. The feeling was ouotably steady.
and fluctuations limited to 1Sc range, the
market closing about the same as yesterday.
In oats good business was transacted early
in the session. Offerings by several large
traders were freely made, and prices
declined lsc. After the urgent sell
ers had Withdrawn, there was little offered.
A few buyers came in, and prices
reacted to opening figures. Only a fair trade
was steadier. Little was doing outside Of
May contracts. Opening sales were made at
DC advance, and further Improvement OF
sc was gained. Later the offerings were in
creased Somewhat, and prices declined 1912
@15c. Towsrds the close the market was
stronger and prices rallied 20@22lac, clos
ing comparatively steady. Trading was only
moderately active in lard, and the feeling
was steadler. Prices ruled 71201Oc nj gner,
and the market closed steady. Only linn
tied trade was reported in short ribs, and the
market was comparatively steady. Prices
ruled about 7L2@10C higher and closed quiet.
THE GENERAL QUOTATIONS.
The leading futures ranged as follows:
WneaU-NO. z, obituary OpeHtu at S5o4C,
closing at 9s7sc; February S1.OOA; closing
at S1OOls: May, S1.O5, closing at ST. .04ls;
July, 95s4c, closing at 95c. Corn-No. 2,
january opened at 331sc. closing at :3Ac;
March opened at 34s4c, closing at 3484c;
Nav, 36S4c, closing at 365sc. Oats--No 2,
January opened at 24s4c, closing at 24ssc;
February opened at 25lsc, closing at 23lsc;
May, opened at 277sc, closing at 273sc.
Mess pork, per bbl-January opened at
S12.S5, closing at 81 2.95; February, S!2,95,
closing at sl3o5; May; s13.s5. closing at
ut $40, closing at $7.45; March,
$7.47l2. closing at $3.50: May, s7.57l2,
closing at S762la. Short ribs, per 100 lbs
January opened at S675, closing at
$3.50; March, $6.S712, closing at S6.92la;
May. S697l2, closing at $7.02l2.
Cash quotations were as follows: Flour
steady and unchanged. Wheat-No. 2 spring,
9sl2@95Bc; No. spring. 7S@sSec; No 2
Tsd @ 9sa5SesaHe &C. G0Tn,No Enaln i7o s9HG: Rsp
ley-No. 2, 74c, fob. Flax 'seed-No. /,
Si.62. Timothy Seed--Prime, $1.50@1.5 |.
Mess pork, per Dbl. $129u@1295. Lard,
per 100 lbs. $7.45. Short ribs Qoosel,
$3.50. Dry salted shoulders {boxed)
Sc. 25@6. .37l2. Short clear sides, lboxedl
$7@7. l2l2. Whisky, distillers' finished
goods, per gal, S1:O3. Sugars unchanged.
bu; corn, 161, 900 bu; oats, $4,000 bu; rye,
900 bu; barley, $4,000 bu. Shipments
Flour, 14,OO6 bbls; wheat, $4,000
bu; corn. 217,0OO bu; oats, 131, 600 bu;
rye, 2.OOO bu; barley, $4,000 bu. On
the produce exchange to-day the butter
market was dull; extra creamery, 27@
2Sc; extra first 23@24c; extra dairy, 22@
24c; extra firsts. 20021c. Eggs weak and
lower at 160lSc.