St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-06-21
BULLS ON THE BUYING SIDE
4 Broad, Strong Market Carries Prices
Steadily Upward With Slight
Reaction.
Rms and Grain Lice Add to the Disconl-
future of the Bears and Bolster
Prices.
Money Kings and Their Doings in Wall
Street.-The General Quo
tons.

CHICAGO. June 2O.-The wheat market was
active again to-day. Unlike the acuon on
other DAYS, the market went all one way.
The trade was on the buying side ana
broad, strong market carried prices steaoliy
upward without Ii reaction until nearly
o'clock. The advance in July at II o'clock
was lac over the close last night, with Aug
ust and September Use higher. July sold
77s.c to 777sc to 77ssc to 77s4c, to Use, to
77%c, to 7ss4c and off Ito 7sisc
at one. August 75c to 76lsc on
10 75s4c Different results might have
been expected early, as cables were weak,
and the weather southwest and northwest
favorable to the crops and the BEARS But
there was no news The Illinois agricultural
report saws winter wheat is thin on the
ground Dispatches brought reports OF bugs
in the wheat in Illinois and Indiana. Inc
Price Current not only reduced It's total crop
estimate from 512,O0O,G0O bushels to less
than 500, 900. 900, but also expanded on the
fact that an old enemy, the grain
louise is at work in Ohio fields, ana
predicts much shriveled wheat was result.
Another bull influence as the good clear
anees, l35, 900 bu of wheat and 10000 bbls
of -four from New York. In this market the
demand for flour was also better, and cash
wheat was wanted at better prices. wash
ington adviceS said that the official reports
gave Russia very poor outlook Tor Wheat.
At the top many of the early buyers OF July
sold very freely, and nearly half OF the adj
vance of the forenoon was lost. Receipts
were 10 cars. The extremely wet weather,
the washouts. light receipts, etc, caused a
little buying of corn by country traders and
made the local shorts a little nervous. The
,,,.;,,rr ,a,.a,,cod NIL, from ALSO S51sc. but
Ous az az - ~ -, - H. oo,,,,tr,
al TINS ADVANCE huteniilsuli anu 'te ny
were selling, causing silgut reactioh. ne
ceipts were 240 cars. Oats were fairly active
pnd q trife higher. Receipts 1863 cars Pork
,,.os ,,ool- ~, fron offerings and declined lon
"os "e'> va S. -. 80 o,hc0Eo
loo. Lara anu Ilos "e'e quio' "-0 -'zes'o
lower.
THE ROUTINE REPORT.
CHICAGO. June 2O.-Wheat was stronger to-
dav. The news was more favorable TO the
hnil interest and created some little anxiety
among the short interest. Damage to wheat
bv bugs. unsettled and rainy weather, espec-
lally in sections where dry weather would be
preferable, and large clearances changed the
sentiment OF local traders ana the feeling at
domestic markets was likewise affected. June
advanced lie. but closed with advance lost.
July opened ls@14c higher, advanced 1lsc,
recedeJ sac and closed asc higher than yes
!erday Deferred futures shared in the i'm
nroyement advancing 1@l4c, and closing
B.1Ic higher. Yesterdays closing developed
a rather bearish feeling but this morning at
the start there was not much wheat for sale,
and under the nature of the influences
brought to bear on the market, good buy
Ing set in, which caused the steady and sharp
advance noted Probably the principal in
fiuence was the reported appearance of
green bugs in the wheat fields of Indiana
and Ohio. and the report that considerable
damage would be the result more especially
In the way of shriveled wheat. Rain was
also reported west and south and cloudy
weather in the southwest. There was some
buying on unsettled weather. Damage to
the Russian crop was also brought to the sur
face again, which, it is claimed, is greater in
some sections than had been calculated
upon. Considerable interest was manifested
in corn. trading being quite active at times.
and higher prices were established. Most of
half of the session, after which the market
became more quiet. Trading was more gen.
eral to-day than for some time past, the
volume of business being larger, with more
was the Strengthening factor and country
shorts covered freely which made local
operators rather nervous. who in
turn also covered The market opened
shade higher than the closing prices of
yesterday. was firm. and generally advanced
Zoe, reacted A@ssc ruled quiet and steady,
oats larger business was transacted. and
stronger feeling developed, especially in the
creased freedom by shorts, who became
scared at the advance in corn and reports of
bad weather, and wanted to cover. Offer
ings during the early part of the day were
light, especially of July, which advanced W
@5sc, but reacted ssc, and closed easy. Au-
gust, September and the more deferred de-
1iveries were offered freely, and prices only
advanced 14c Trading was more active in
the market for mess pork, and the feeling
was somewhat unsettled. Early sales were
made at::5@ 7l2c advance, but a weaker feeling
d deeyeloped later and prices receded 15!s@
only a fair trade was reported in the flour
market, and the feeling was easy. Prices
ruled 2la@5c lower, and The market closed
tame al the reduction. In short rib sides
trading was moderate, and the feeling was
easy. Prices declined 2Ia65c, and the mar.
ket closed quiet and steady at the reduction:
GENERAL QUOTATIONS..
The leading features ranged as follows:
Wheat-No. july opened at 77Ac, closing
at 7sIsc; August, 75lsc closing at 75ssc;
September. 75hc. closing at 75s4c; Deem
=.