St. Paul daily globe., 1889-05-25
PRICES IMPROVE A SHADE.
Wheat Shows General Upward Tend
ency, With Frequent Reactions.
TRADE IMPROVES SLOWLY.
Duu's Review Brings Encouraging News
From the Commercial
Centers.
SnnninI To the Clone.

Special to the Globe.
CHICAGO May o4.-Even if wheat is on the
way TO zoe, as the bears claim, 1t is natural
that it should have reaction occasionally.
A reaction came to-day. 1t was unexpected.
The trade started in at the opening 70 sell
down to 76Isc, and did succeed III putting
July lac lower the first few minutes; then
there was change. 1t was graouai haru-
ening at first on good buying. Then the early
cables came firm, with prices tending upward
for the first time in week. The seapoaru
cleared l03, 900 bu wheat and a falr amount
of -four The weather everywhere was per
feet but some doubt about winter wheat i'll
Illinois was raised by parties from that sec
tion. II took the crowd but minute to
change front The shorts were soon olodlng
for wheat and the price was advancing. In
thirty minutes July went from 76lsc to 77ssc.
There was yielding at IL O'Clock to nc,
and a second bulge at noon to o77lsc, a second
reaction to 77c at 1880. and another bulge
10 77ssc at o'clock. Other futures moved
the same way IN smaller fractions. At New
York July opened al Sl7sc and went to S27Sc.
Whel, the closing Liverpool cable came 1t
gave wheat a4d higher. Receipts here were
80 ears. The business in the pit was more
than the average of late. Wheat closed qute
firm, with July lie over the bottom price OF
the morning at 77ISc, or s4c over the close
last night large number of people VINO
have sold corn recently on the strength OF
large receipts, fine weather. etc., were puy-
ing il back this morning. The strength in
wheat and the fact that the cash article con-
tiuues to bring comparatively good prices,
ware the main reasons for their buying
July opened at 34c sold Immediately after
ward NJ 34lsc, and from this time on till
afternoon ranged between 34lSc and 34Ac.
Exporters claim that foreign orders are now
sc per bu below our prices. Receipts
were 1000 cars. Oats were active
and a trifle lower on account OF heavy
selling by some of the "longs." Receipts
were 800 cars, The unsettled feeling OF yes
terdav was continued to-day with even more
variable prices. The strength which ap-
peared on the buying by shorts was also more
marked. The receipts of hogs were about
5000 snort of expectations at $4,000. This
made the shorts more nervous. The talk
about Armour and the pork war was re-
peated. At any rate, there was higher
opening, and sudden bound in prices. July
pork started at Sll.92l2, Is cents over last
night. and went to Sl2. .05 at once. Then Off
toSI197I2. and on second bulge, up to
El2 l7Is0122O, or 40 cents over last night.
The close was at S11. .97l2, or 90 cents higher.
Lard and ribs sold 10 cents higher with pork
at one time, but at the close, the gain was
but 5 cents in each product July ribs,
k5.s2la, lard $3.50.
To-DAYs TRADING.
CHICAGO, May 24.-There was favorable
turn in the wheat market tor holders to-day
and prices were higher. Trading was more
active both in covering 'shorts" and IN buy
ing for investment. The advance was looked
upon mainly by some operators as .oulge.
caused by an endeavor OF the shorts TO cover.
The opening was easy and 1s@Ac lower than
Yesterdays closing, but turned quickly, and
steadily advanced ! Sac above inside figures
As the most urgent demand was supplied,
and the offerings increased, the market began
ruled steady, and closed s4c higher for July
than closing figures yesterday. June closed
about Ac higher. moderate trade was re-
ported in corn, feeling firm. Fluctuations,
however, kept within ssc range, and trans
actions were mainly local: The market
opened at Yesterdays closing prices, was
firm and advanced 4c, ruled weaker and
closed about the same as yesterday. oats
were traded in moderately and an easier feel-
ing prevailed. Price changes were confined
to Ac. An active business was transacted in
pork, mainly in July and August contracts.
Opening saleswere made atl242@l5c advance
and further appreciation of 27!2@30c was
gained, about the middle OF tne session.. n.
settled back 17l2@20c. and closed compare
lively steady. A little more interest was
manifested in the lard market Opening
sales were made at 2l2@5c advance, ana
Later the offerings were slightly increased
and prices receded 2l2@5c. and closed
steady. Quite an active business was re-
ported in short ribs. Opening sales WERE
made at 5@l7I2c advance, and a further ap-
probation of sc was gained, Outside
figures were not supported, and the market
closed easier.
THE QUOTATIONS..
The leading futures ranged as follows:
Wheat-No2 June opened at 9OAc, closing
at Sic; July, 76Ac, closing at 77lsc:
August 74c. closing at 74t4c; year, 73c.
closing at 1850. Corn-No. June opened
at 33s4e, closing at S3sse; July, s4c' sac
Oats-No. 2 June opened at 22asc, closing at
22Ac: July, 22s4c, closing at 22ssc. Mess
Pork (per bbD-June opened at ST.. clos.
Ing Jg1y q slaa2s sises.ng go, at
Lard (per 100 lbs)-June opened at S6.72s4,
closing at 1878; July, S6.77I2, closing at
$3.50; August, S6:s7l2; closing at $6. s5c:
Short Ribs (per 100 lbs)-July closed at
s5.s2l3; August s5.95, closing at s5.s7l2;
September So, closing at $5.92H2.
Cash quotations were as follows: Flour
unchanged. Wheat-No. spring, S1&082c;
No 8, nominal; No. 2 red. s1A@s2c. Corn
No: 2. 35Ac: oats-,No. 2, 22asc. Rye
Seed-No. 1, $1.54; Prime timothy seed.
S13O. Mess Pork-Per bbl, $11. .9O@12 Lard
Per 100 lbs S6.72ls@s.75. Short ribs.
sides Qoose,. $5.75@5.e5. Dry salted shoul-
ders (boxed), IS. .12la@5.25. Short clear
sides (boxed), So. 12la@6.2 .25. Whisky-Dis-
tillers' finished goods, per gal, $1.25. Sugars
Unchanged. Receipts-Flour, 10, 900 bbls;
wheat 5000 bu: corn, 500. 600 bu; oats.
200, 900 bu; rye, 5000 bu; barley, 5000 bu.
Shipments-Flour,1 10000 bbls; wheat, "a,
600 bu; corn, 454, 600 bu; oats l42, 900 bu;
rye 5000 bu; barley, 1900 bu. On the
produce exchange to-day the butter market
was frmer; fancy creamery, 15g2@1612c;
choice to fine 12l2@15c: fancy dairy, 100
l212c.