St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-07-25
FIRST STRONG, THEN WEAK
The Fluctuations OF the Wheat Market
Puzzle the Small
Fry.
Local Traders Played for Slump, but
It Failed to Materi-
alize.
Financial Operations Of the Money
Kings---The General Quo
tati0ns.

CHICAGO July 24.-The wheat market to-
day was strong and weak by turns. Although
the local trade played for reaction and
lower prices. they did not come and after
some dumping many loaded up again. AS
for several days past, the strength OF the
market was due to foreign adv1ces and buy
ing for foreign account. Early Liverpool
cables gave spot and futures strong and
tending upward, with spot wheat s4d dearer.
On this and on lighter receipts in this market
and because of rains prices were opened
higher, and at once advanced fraction.
Then came slight decline on the heavy
local selling for down turn. The buying was
heavy and persistent, however, and
still higher prices were reached be.
fore noon. From the top figures
there was a break Of about s4c shortly
after IL o'clock. This was ON selling caused
. by the prospect of 200 cars of new wheat
here tomorrow, and larger receipts at South
western points. For the third time, how
ever, the bull party was successful, and an
other bulge carried prices to about the best
points for the day. The action was as fol-
lows: July opened at soc, sold S1a4c to
SIC to Sl7sc to $50 to SIC to S3c. Septem
Der opened at zoe. sold 7Ss4c to 79Ac to
7912c to 79c. December opened at Sic, sold
o. TSC W cOS6C W O1AC W OO9SC W OO 9SC W
91Isc at L p. m. Receipts here were 149
cars, 1ncluding@139 cars Of new wheat, with
rs cars of No. 2 grade. The estimate for
ances were light from New York.
only 44,0G0 blu. The amount of
wheat ocean passage decrease $50, 900 bu
according to the board of trade cablegram.
Receipts at st. Louis were but 10000 blu, and
at MlOnponnliC IL 0nn h11 Tho intQraSt N
wheat kept up to the close, when prices were
a quarter off the top, and lst9lAc over the
close last night. Corn declined ss@l2c. The
crowd began to suspect that much of the
cash corn recently purchased was for fall
July contracts instead of for shipment. This
and the report that the cash men had re-
ceived great deal of corn on bids sent out
yesterday caused rather heavy selling. Re-
ceipts, 4 80 cars. Oats were quiet and fairly
steady. Receipts, 1l9 cars. The light re-
ceipts of hogs caused pork to open 7l2c high
er for September. but the advance did not
hold. After a fair trade, the market closed
7I2c lower for FORK, and 2l2@5c lower for
lard and ribs.
THE QUOTATIONS.
The leading futures ranged as follows:
Wheat-No. 2, July, opened at 92c closing
at e2%c; August, 7e7sc, closing at 79Ac;
September, 79c. closing at 1890; Decem-
Der, SIC, closing at SOs4c. Corn-No. 2,
August, opened at 3612c, closing at 361sc !;
September, 369sc, closing at 3614c; October,
367sc, closing at 36ssc. Oats-No. 2, August,
closing at 22c; September, opened at 221sc,
closing at 22c; october, 22Ac, closing at
22Ae., Mess Pork (per bbDmoAugust,
tembers SLIP, closing at s11.lo; oc.
tober, SlO.65. closing at $1,000. Lard (per
100 20 lbs)-August opened at $500 closing
66;;27ls; October, $3.50, closing at Sc. 80.
opened at $3.50, closing at s5l.55 !;
october, S5,64l2, closing at 1856.
Cash quos tons were as follows: Flour
Quiet and unchanged. Wheat No. spring,
S24c; No.3 spring, nominal; No. red, S2s4c.
Corn--No. 2, 36c. Oats-No 2, 22Ac
Rye-No. 2, 42@43c. Barley-No nomi-
nal. Flax Seed-No. 1, S1.33l2. Prime
timothy seed, S1.4e@1 so. Mess pork, per Dbl,
S11.O5@I1.10. Lard, per 100 lbs, Sc. 20.
Short ribs sides, loose, S55O@5. So; dry
sailed shoulders, boxed, S. l2la@t .25; short
clear sides, boxed, So. 97l2@6. Whisky, dis
tillers' finished goods, per gal, $1.O2. Sugar,
cut loaf: unchanged. Receipts-Flour. 81 900
bbls; wheat, $1,000 blu; corn. 1888 900 bu;
oats $4,000 bu; rye, 10000 bu; barley,
1000 blu. Shipments-Flour, 1900 blu ;
wheat, $4,000 bu; corn, 299, 900 bu; oats,
10000 bu; rye, 5000 bu; barley, none. On
the produce exchange to-day the butter mark
ct was fairly active; fancy creamery,
1512@16l2c; fine, 14@1412c; finest dairies,
1l12@12ci fine, 10@111sc. Eggs quiet at
1101142c.