St. Paul daily globe., 1889-06-28
SHORTS GET TO THE FRONT
Havinu Covered They Defy the Bears,
and Manipulate the Market at
Will.
A Spasm of Weakness at the Close---
Prices Touching the Lowest Point
Of the Day.
Financial Operations Of the Money
Kings on Wall street-..General
Quotations.

CuIcAso. June 27.-The wheat market was
OF a less decisive and vigorous character than
for the two big bull days preceding. There
was no mlstaking the spirit OF the trade AT
the opening this morning. 1t was pretty
clear that the shorts big and little, were
mostly covered, and that following the ell
max of yesterday there would be httle W
s,1pport the market at the top figures. At
the start prices were just 1c under the close
for most futures. July, SOssc; August ano
September 7Sl2c and December, llac OH AT
SOIsc. Prices Welded at once to 1880 Tor
July and December and rallied to Sols@Sossc
for July and S0ss@S0lsc for December. Then
realizing sales started second decline III
which july suffered most at first, going to
795sc. while December held close 10 soc.
Later there was heavy selling of December,
and while July found bottom at 79l2c, De-
cember went to 79k@79ssc. About noon
there was second rally, taking both the
leading futures back to the nelghborhood OF
Soc July hung around between 797e@SoAc,
while December was slow to get above
797sc. At l O'clock July was steady
at soc and the pit comparatively quiet.
Bearish news came from lie Northwest.
Rains were reported i'll California III the
midst of the dry season. The Price Current
estimated makes the crop OF winter wheat
are 90 per cent, of normal, and states that
the total crop of the year must fall 12,Ooo,-
900 to 100000 below 5Oo,00O,OOO bu.
Export clearances to-day aggregated 10000
bu of wheat. Other markets were weak with
Chicago. Cudahy was the big seller OF De-
eember here. Selling was general early.
There was spasm of weakness just before
the close III wheat which rut prices about
tI,o Euy,, tha
26 cars Corn was dull and closed A@ssc
lower: receipts, 374 cars. Oats were weaker
and closed lse lower; receipts, 185 cars by
rail- and 4, 200 bu. corn and 1000 bu oats
by canal. The provision market was OF
steady, firm sort the greater part of the day.
First prices were Il few cents under the close
of last night, but when business got under
way after the call some better prices were
reached. The close, however, was 7l2@10c
lower on pork. steady for lard and 2l2@5c
lower on ribs.
GENERAL QUOTATIONS..
The leading features ranged as follows:
Wheat-No. July opened at S0asc. closing
at 79l2c; August, 7SAc, closing at 77l2c;
September, 7sl2c. closing at 71&c; Decem,
ber, solsc, closing at 79asc. Corn-No; 2
July opened at 35Lc. closing at 35c; Au-
gust, 35ssc. closing at 35ssc; September.
$500, closing at 35s4c. Oats-No. July
opened at 22ssc, closing at 22sSc; August,
22lsc, closing at 22l2c: September, 22ssc, clos
ing at 22asc. Mess Pork (per bbl-July
opened at $l1.s7la. closing at S1i. S2l3; Au-
gust Sl2 O5, closing at S11 .92l2; September,
SI2.O5, closing at S12.97I2. Lard tper 100
lbs)-July opened at S6.65, closing at
s6e2ls; August se,75, closing at s6.52ns;
September, Sc. 80. closing at $3.50. Short
Ribs (per loo lbs)-July opened at S5.95,
closing at S5.95; August, Sc. 10. closing at
S6.O2la; September. Sc. 10, closing at S. 10.
Cash quotations were as follows: Flour firm
and dealers ask an advance of lGc. Wheat
No. spring, Sll2@S2c; No. 3 spring. 100
76c; red, S1I2@9Gc. Corn-No. 2. 35c
bid. Oats-No. 2, 22l2c. Rye-No. g 42l2c.
Barev-No. nominal. Flax Seed-No. l,
S1.49@1.50. Prime timothy seed. $11.4S.
Mess pork. per bbl, S11. S5@1l 80. Lard
(per 100 lbs), S6.62l2. Short ribs sides
Goose), So 9O@@6.O5 Dry salted shoulders
(boxed), S.. 25@5. .37l2. Short clear sides
(hoxed). $6.25@6.37l2. Whsky-Distilers'
finished goods, per gal $1.O2. Sugars
Cut loaf unchanged. Recipts-Flour. 13, 900
bbls; wheat H. 900 bu; corn, 212,O0O hu;
oats. 2l6,OOO bu; rye, 1000 bu; barley,
1000 bu. Shipments-Flour, 5000 bbls;
wheat, $4,000 bu; corn, 203, 900 bu; oats,
$4,000 bu; rye, 1000 blu. On the produce
exchange to-day the butter market was firm
and unchanged. Eggs firm at l2c.