St. Paul daily globe., 1889-06-11
FEEDING WHEAT TO LAMBS
Wheat Higher at the Opening. but
Sagsed Off and Closed Lower.
SMALL DECREASE IN VISIBLE
The Sleek Market Was Mere Active
al Fractionally Lower
Prices.

Cu1cAco. June lO-The wheat market 10
day proved quite interesting 10 the traoe III
more ways than one. Many parties, naluraii!
bearish, began buying wheat inns lhoriius
for some reason. The crowd was easily leu'
and the first hour showed quite bulge, WIFI
july carried to 77lac. This was the opPor-
unity of number who were long, ana they
fed the crowd on the advance. There was no
real strength, and prices soon yleloeu from
host f,pures. the claim of some that the de-
crease in the visible supply might reach
. Ooo. 600 bu was believed by those not
posted. and this helped the early buying.
Milwaukee telegraphed that the decrease
would be 2,250,u0) bu. The decrease
when all points were heard 1fom'
was l313.0U0 bu, or about the con-
servatiye estimate. On this there was weak
ness and prices dragged slowly down from y
to lie from early figures There was no I'M
portant outside news. New lork cleared ioi,
600 bu ana Philadelphia 400 ou. len loaos
were reported taken for export. Inc weather
was not such as to cut much hgure. ois-
patch was on the floor stating that crop pros
pects in England, Germany ana france are
brilliant, and that Russia can be ~ per cent
short and Europe still be as independent ol
America as last wear. The action i'll July up
10 ! o CLOCK was us lOlloMS. OPSAiSe" "e : - " .
sold ut 7G7sc 10 7712c, to 77lsc, to I14c, TO
T6lsc Other futures were weak with July.
Receipts were SO cars In corn To-Day tue
action was much the same as IN
wheat. Prices started where they closed
saturday. There was at first good buy
ing on wet weather and on the bulge nwheat'
This made the shorts buyers. and scalpers
helped on the temporary advance. Then the
visible supply increased 422, 600 bu Tor the
week instead of decreasing d hail mllno!l,
as some expected. The scalperS turned sell
ers and prices declined to the closing hgures.
Receipts were 633 cars. Estimate foI 1ues-
day. $50 cars Out inspection. $4,000 ou.
Shipments. 81 900 bu. Lake charters were
33S. .OOObu Oats were quiet and shade hlgh-
er The visible supply decreased 2,Ouo pu.
Receipts were 19S cars. The important 1eat-
IRE of the provision market was the purchase
of 1000, COO lbs of short ribs by Wright.
They were sold bv scattering longs" Wolf
also bought ribs rather freely. Little was
done in pork or lard and fluctuations were
narrow.
ROUTINE REPORT.
CHICAGO June 10.-A very falr business
was transacted in wheat at varlable prices:
The feeling was rather unsettled, the marker
early showing considerable strength; ana
later was weaker. The opening was SseGl2c
higher than Saturdays closing, eased on
temporarily and then sold up 9sc, decllheo
7sc. and JULY closed the same as SATURDAY
The more deferred futures closed is(a &c
lower June advanced l2c, and closed Use
higher than Saturday. The advancing tenu-
encv early was attributed to the weather,
which was again cloudy and rainy. The
weather bulletin showed ram throughout
the West and Southwest, and this induced
the covering of shorts as well as buying from
other sources. But later. advleeS denoted
higher barometer, and private adVlces oe
noted clearing weather. The weather al
present in the Southwest forms quite an i'm
portant item as harvesting is in progress. lhe
visible supply was about what was generally
expected, though less than some parues had
calculated upon. Quite an active trade was
witnessed in corn during the early part of the
session. after which more quiet feeling pre-,
vailed. A frmer feeling was developed and
transactions were at hIgher prices. Ine
market opened at SATURDAYS closing prices:
was tlrmEand advanced ss@lsc; eased off !4@
ssc; became quiet, closing shade higher
tnan Saturday. Oats were moderately acllve
and stronger and prices advanced 1s@ssc
early in the session on fair purchases by
shorts. who became scared at the advance IN
corn and reports of bad weather Later,
uuietness prevailed. and prices receded
slightly, and last sales were at almost the
same as on Saturday. comparatively light
trade was reported in the market for hog
products Outside parties forwarded very
81
ferent about trading to any extent Changes
in prices were slight and the bulk OF the
business was in evening up small trades.
GENERAL QUOTATIONS.
The leading futures ranged as follows:
Wheat-No 2 July opened at 714c, closing
at 7684c: August opened at 72Ac, closing at
74c5s: December opened at 771sc. closing at
766sc. Corn-No. 2 July opened at 34ssc,
closing at 34Ssc: August opened at 341sc,
closing at 347sc; September opened at 35ssc;
closing at 351Ac 0ats-No. 9 July opened
at 22Ssc. closing at 2242c August closed at
225sc; September opened at 22s4c, closing at
225sc Mess Pork (per bhD-July opened at
Sl1;s5, closing at sll 511a; august opened opened
opened at S11.92l2. closing at 81 .?2la.
Lard, per 100 lbs)-,July opened at 67212,
closing at S6.7O; August opened at S67712,
Closing at ss e. ss ssPtemsseT sSG oRfned Rbs naT at
1862 SS5 6s2 69s1g at sSened at sHS @ elos
as S. ci6sins f5 S2i at sS "5aTs 0sepea sepemner
opened at se.o5, closing at seo5.
Cash quotations were as follows: Flour
frmer. but not quotably higher. Wheat-No.
2 spring, 1880; No. spring, 6s@70c:
No 9 red, 1899. Corn--No. 2, 34@341sc
bid Oats-No. 2. 224@22ssc. Rye-No; 2,
3Sl2@3SS4c. Barley-No. q nominal. Flax
seed@No: l, Sl.5l Prime timothy not seed
Lard, per 1GO lbs. s6.62la Short ribs, sides
0ooseJ. S.. .9C@5. .95. Dry salted shoulders
boxed), S5.2ll2@5. .25. Short clear sides
(boxed). S6.21@6.25. Whisky-Distillers'
finished goods, per gal. S1.O2. Sugars-Un-
changed. Receipts-Flour, 1000 bbls;
wheat. 6,0oo bu; corn, $50, 900 bu; oats.
10000 bu; rye, 1900 bu; barley, 5000
bu. Shipments-Flour, Ia, 900 bbls; wheat,
10000 bu: corn, 81 COO bn; oats, COS, 600
bu; rye, 10000 bu; barley, 5000 bu. On
the produce exchange to-day the butter mar
ket was firm; fancy creamery. 15ls@16l2c;
fine, 15@l542c; finest dairy, 12@13l2c. Eggs
firm at 1Oc