St. Paul daily globe., 1889-02-22
Bears Dump Large Blocks Of May Wheat
Into the Pit, Causing Finan-
cial Decline.
Corn Advances a Trifle, and All Manner
Of Hog Products Show Up
Stronger.
Financial Operations in the Monetary
Centers-.-The General Quo
tati0nS.


wheat. There was range of 11ac in
the price of May. but the transactions
were at no time heavy. The tendency
was lower early, with a strong, quick
rally of 111{c shortly after 10 O'Clock.
Opening prices were lower, and the
forenoon was spent i'll light trading and
&c to 24c fluctuations. The crowd felt
bearish, and many appear to think the
big longs have realized so much that the
corner is off. The clique takers took
no pains to deny such talk, but it was
noticed that when prices reached Ger
tain point there was always buyer.
The short interest increased in the pit
early, and this was what the bulls
wanted and what they will probably
make good use of before the week
closes. AS outside news there was re-
port that forty cars of Milwaukee, No. 2
were on Chicago tracks shipped
from the St. Paul elevator. This was
significant only as showing that contract
wheat is headed for Chicago. The mid
day bulge was helped along by La
Crosse dispatches, saying that $4,000 bu
equal to Chicago No. 2 and $4,000 bu
equal to our No. were sold to Mime
ap0iiS millers at S1.15 and $1.09, respec-
lively. j. 3. Lyons sold about 10000
bu openly about II q. m., causing
break of re. w. T. Baker sold No. 2
spring in London at IS, which was
higher than any price cabled. Pri-
mary markets received about 5,0o0 bu.
The action in May was as follows:
Opened at s1.09ll; sold at s1.09, to
s1.09A to sf.093s, to s1.095s, to $l.0914,
to $1.091s, to s1.O914, to s1.1o1G. to s1.loX
at p. m. Receipts 29 cars. During the
last fifteen minutes Of the session May
wheat sold at $1.097s. to Sl.0914 to $l.093s
at the close, or !lc lower for the day.
Corn was dull and 3a@asc higher. Re-
ceipts 233 cars; oats were quiet, re-
celpts 80 cars. Provisions were strong
er. There was some good early buying
led by Stauifer and Baldwin, which,
because of the parties they were sup
posed to represent. had decided eff
feet on prices. Sales for May early
were $3.50 to $5.971s; for short ribs.
$6.70 to $685., for lard and $11.O715 to
SLIPS for mess pork. The advance in
ribs was nearly lost before noon. Lard
sold back to s6.7711l and rested at $500
before the close. Mess pork dropped to
Sll. Is, rallied to $11.2211s, and closed at
$11.20.
THE ROUTINE REPORT.
CHICAGO. Feb. 21.-The wheat mar
ket was dull during most OF the session,
and prices were somewhat irregular.
The opening was 5s(01sc lower than the
closing figures of yesterday. rallied Ic,
declined 5Sc, and then suddenly ad-
vanceu 1880, eaSed off 1c. and closed
about 4c lower than yesterday. There
were moderate offerings early in the
the day aud but little demand. After
fiuctuatiDg within small range for
some little time there was sudden adj
vance on covering by shorts, which
action was Influenced some by reports
of buying of wheat in Wisconsin by
Minneapolis millers and reported
blizzard in Dakota, heading eastward.
Shorts probably were also induced to
cover to some extent on account Of it
being holiday tomorrow. Corn was
OF the session the market ruled very
quiet. There was nothing new of con-
sequence developed that had any ap-
parent effect on values. and fluctua-
tionS were narrow, being limited to 40
&c range. Oats were quiet, with trad
ing of local character and narrow
price; changes. Rather more interest
was manifested in hog products, and
the feeling was stronger in a general
way. Mess pork opened at sc decline,
advanced 15@171ac, reacted 2115@5c, and
closed rather steady. Lard advanced
121S@15c, but receded 2I(05c. Short
ribs gained an advance Of 1115@10e, and
closed steady.
THE GENERAL QUOTATIONS.
Wheat t. No. 2, February closed at
$1.06as; March closed at $1.073s; May,
S1.09A, closing at S1.095s: july, 947sc.
closing at 95}5c. Corn-No. 2 Febru-
ary opened at 34c, closing at 3414c;
March, 3414c, closing at 34114c; May.
353sc, closing at 352sc. Oats-No.2, Feb
ruary closed at 25s4c; March opened at
257sc, closing at 2511sc: May, 2734c, clos
ing at 272sc. Mess Pork .per bbD-
February closed ats11.o5; March closed
ing at sl1.2O. Lard per 100 lbs)-Feb-
ruary closed at s670; March closed at
Sc. .722]a: May opened at sS.6715, closing
at $685.. Short Ribs (per loo lbs)-
February closed at s5.7711S: March
opened at $50, closing at $5.7715:
May opened at $500. closing at s5.971S.
Cash quotations were as follows: Flour
unchanged. Wheat-No. Q spring. s1(@
1.ON3s; No. 8 spring, 9699Sc: No. 9 red,
S1.O6@1 .063s. Corn-NO. 2, 341sc bid.
Oats-No. 2, 25%sc. Rye-No. 2, 44c.
Barley-No. 2, nominal. Flax seed-No.
l, sl.57. Prime timothy seed, s1.42 bid.
Mess pork, per bbl, sl1. Lard, per 100
lbs, $685. @6.70. Short ribs sides
Qoose), $5.75@5.90. Dry salted shoul-
ders (boxed), s5.50@5.6211s5. Short clear
sides (boxed), $6@6.121S. Whisky-Dis-
tillers' finished goods, per gal, $l.O3.
Sugar-Cut loaf, unchanged. Receipts
Flour, 1900 bbls; wheat, $1,000 bu;
corn, 11s.OOO bu; oats, 1000 bu: rye,
1000 bu; barley, $4,000 bu. Shipments
Flour, 5000 bbls; wheat, %, 900 bu; corn,
$4,000 bu; oats, $4,000 ,bu; rye, 5000
bu; barley. 10000 bu. On the produce
exchange to-day the butter market was
steady and unchanged; eggs steady;
1211a913c.
r. M. NEWPORT & SON,
EruaeS,oan% 1onEoc,