St. Paul daily globe., 1889-02-08
THE COMMERCIAL RECORD.
Bulls Take Hold of a Weak Wheat
Market and Shove Up the
Piic,s.
Corn and Oats Take Tumble and Pro-
visions InCl.ne to Extreme
Heaviness.
Financial Operations in the Monetary
Centers---The General Quo
tations.

CnsAeo, Feb. 1.-THE wheat market
showed weakness at the opening this morn
Ing, but as the session advanced there was
better feeling. The price during the Toe
noon held close around 81, but after o
clock there was quite good buying feeling
developed, and the price of May advanced
1ase over the lowest point of the morni' g
and 5sc over the close last night. There was
no important news and little outside trade
The report reg arGing heavy sales OF Hour
at Minneapolis was the best piece OF Dull
news The strength i'll wheat increased TO-
wad rthe close. The price of May advanced
toSl. 7s1l o2 and closed at Sl.01s4, or
1I2c over last night. and 34c over the Dot
tom this morning. The removal OF all re-
stricton from milling had a good influence.
Receipts of corn this morning were 800 cars.
The talk about any let-up i'll the close IN
spection was exploded when only cars out
of the entire receipts graded No. 2. There
were 112 cars billed through. There was
out inspection OF $4,000 bu, No. = and ship
meuts here of lOl 900 hu. ClearanceS at
Atlantic ports were unusually light. There
was in the pit further liquidation by local
operators and prices declined about l2c from
the close last night There was furry Ill
oats shortly before the close. The deal was
in May Shaw d Baldwin sold VIZ
freely and the prices went Off from 2'sSc
cents early to 2o78c. Wadhams was the
principal buyer on the break. Receipts, Ioo
cars On account of large receipts OF hogs
and lower prices the provision market started
slow and weak. Short ribs and lard opened
712@10c lower, and mess pork, after opening
12l2c under last night at the lowest point
heretofore touched for May this season,
i lima To
the bottom for the day. There was one or
two bulges to Sl1.47la, but the market was
heavy and without good support Ten min
utes before the close May was at $11.47l2, or
10 cents under last night This was OH bet
ter buying by packers on the floor and at the
yards late in the day. Short ribs. after sell
ing at So 10 for May, rallied to S6.l5. and
lard reacted from $500 to S6.97l2. There is
still some talk of 4c hogs and 50 pork.
THE ROUTINE REPORT
CHICAGO. Feb. 7.-Operators in wheat were
again treated 10 a surprise to-day. The early
market was weak and oDening sales 34c low
er, as compared with Yesterdays closing.
This, however, proved to be the lowest price
of The day. and was followed by an advance
of 224c, receded some and closed ll2c higher
than yesterday. The tirmness was attributed
to very good buying OH The part OF some
local traders, and as there was not much
wheat offered at times it was a com para
lively easy matter with the assistance OF
shorts covering to advance prices stlmu-
lated by some bull news. Some bad crop
news was received from The winter wheat
districts, but were not connrmed and dis
patch was received denying that the crop
news could not have been bad when markets
nearer the winter wheat region than Chicago
advanced only l2c. Corn was more active,
more interest being manifested in
the market than for some days past.
The market opened a trife lower
than the closing price OF yesterday, ana
gradually sold off l2c. reacted a trifie, but
closed 9sGDl2c lower than yesterday. In the
early trading, oats were active. but weak,
and later the market became dull. Trading
was confined almost exclusively TO May,
whicn declined ss@l2c. and closed easy.
mess pork early in the day and trading was
quite active. Opening sales were made at
1O@l2l2c decline, and rally of 2120Qoc was
gained temporarily Later the market weak
quickly recovered again. Toward the close
prices settled back to medium figures. and
closed steady at medium figures. A fair
trade was reported in lard and the feeling
was easier; prices ruled 7sG11uc lower and
the market closed steady. Short ribs were
more active al easier. Opening sales were
made at 5@7l2c decline, and further re-
duction of 2l2c was submitted 10. Later
prices rallied l2@5c, and the market closed
steady.
THE GENERAL QUOTATIONS..
The leading futures ranged as follows:
Wheat-No >, February, opening at 90s4c,
closing at 9Sl2c; May, 99lac, closing at
$l.'l&; July, 9Ss4c closing at 9nl4c' Corn
No. 2, February, opening at 34s6c, closing
at 345sc: March, 35c, closing at 34s4c; May,
363sc. closing at 35s4c. Oats-No. q May,
opening at 21A Ac, closing at 267sc; June.
27lsc. closing at 27c. Mess Pork (per bbD-
May, opening at IL 1.45, closing at $l147l2:
June, $115O. closing at $l1.51l2c. Lard
(per 100 lbs)-February opening at S6.S2i2.
closing at Sc. so; March, $6.e5, closing at
$6:82l2; May s6:92l2, closing; at $50.
ruary, opening at s5.97l2, closing at
S5.37l2; March, S5.97l2, closing at
Sc; May, S6.l2l2. closing. at S6.12la
Cash quotations were as follows: Flour
steady and unchanged. Wheat-No. 2 spring,
S9A@9Sl2c MOB spring, nominal No 2 red,
9cI4@9SI2. Corn-No. 2. 347sc. Oats-No
2, 24s4@25c. Rye-No. 2, 46i2. Bar
ley, nominal. Flax seed--No. l, 81 $50 l.6I.
Timothy seed, 81. .50@151. Mess pork, per bbl
$ll. l.20111.3r. Lard, per 100 lbs, S6.S2l2
@6.S5. Short ribs sides Qoose). S6061U.
Dry salted shoulders tboxedD. So. S7l2@l6.
Short clear sides (boxed), s.. 25@6. 3112.
Whisky-Distillers' finished goods, per gal.
S1.03. Sugars-Cut af.unchanged. Receipts
Flour Il. 900 bbls; wheat, 5000 bu corn,
10000 bn; oats, $4,000 bu: rye, 5000
bu: barley, 10000 bu. Shipmeats-Flou
5000 bbls: wheat 12,000bu; corn, l01,OJ0
$4,000. On the produce exchange to-day
The butter market was firm. Fancy
creamery 27G029c; choice to fine, 20@22c;
fine dalries,2 6l22c: good to choice, 1SG1-0c.
Eggs-Steady. l3@l3l2e.