St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-05-08
RAIN WORKS WONDERS.
1t Sets Them ALI Sailing Wheat, and
Prices Take a Little Slide.
STOCKS A SHADE LOWER.
The DAYS Transactions in Provisions,
Produce, Live Stock and Dry
Goods.
Speeial 10 the Globe.

Special to the Globe.
CHICAGO, Ill.,, May THE trade in wheat
was surprised to-day, not by break III prices
such as they expected when the first ram
was announced, but by the firm and steady
market in the face of wet weather dispatches
from the Northwest. The news on the Whele
was pretty well divided, and the reaction on
rain too well discounted, and this may ac-
count for it. Prices started 4@l2c lower,
and during the first hour went off little
more. June touched Sl5sc, ssc under last
night, and July Use, Use under last night.
These were the lowest prices of the morning,
with dispatches thick and fast that Dakota
and Minnesota were being soaked. n few
people in the Northwest sent word that there
was more wind than water, and, altogether,
the wet weather news was not very decisive.
Reports from Illinois that the fields were
suffering offset the bearish news. Following
the slight decline early was fair reaction to
S2I3c for June and to 7S9sc for July, after
which prices held pretty steady until l
o'clock. Hutchinson was good buyer with
Cudahy good seller through brokers. Three
boatloads were reported taken for export at
New York, where clearanceS were but 5000
bushels of wheat and about 100, 600 barrels
of flour. Receipts here were twenty-one cars,
with none of the contract grade. Wheat held
steady until the close. Corn had quiet day
The principal influence is the shipping de-
mand. The movement figures were favora-
BILE today, but not SO large as on previous
DAYS. Out inspection, $4,000 bushels:
shipments, $4,000 bushels. Charters to-
DAY, POI coo bushels Receipts were 403
cars, with $50 cars of No. corn.
There was little business done in oats this
morning. The market was steady and the
dry weather prevented spectators from
selling. The sales made early were insigniti-
cant Receipts were l53 ears and $500 bu
by canal. Provisions started in strong ana
continued 10 improve all the morning. There
were only $4,000 hogs at the yards, prices
we're 5@IOc higher. and there was large
short interest i'll ribs which was trying to
cover Several traders took advantage of
this and began bidding up pork. July, which
started at S1l.75 and sold momentarily at
Sl17O, improved 10 SD. Raymond was a
buyer OF ribs early. Floyd Huffman, Cudahy
and Armour bought a little pork. Mitchell
and sam Wolf, however, started the bulge by
bidding for pork and stampeding the shorts.
THE DAYS TRADING.
CHICAGO May Only light business was
transacted in wheat to-day. and speculation.
rs on yesterday, was based almost wholly
npon the weather. especially in the North
yesterdays closing, and steadily decline d 34c
more under rather free speculative offerings;
some lines of long wheat coming on the
market. Prices were influenced by reports
Of rain from the Northwest, but later advices
reported the rain not heavy and that it was
clearing up, the wind hot and the ground
drying up fast. There was recovery of $50
i4c above inside figures but again eased off,
closing lac lower than yesterday. Outside
news had but little effect on the market.
session, transactions being limited to local
traders, and fluctuations were confined with
IN i4c range. The prevailing feeling was one
OF SteadinesS and prices showed but little
change from yesterday. Oats were fairly act
I've. but weaker and lower. Operators loaded
up freely yesterday and wanted to sell to day.
Outside orders were in light supply, and an
increase in offerings caused weak feeling
and decline of l2c on June and July, which
were the chief deliveries traded in. May,
however, remained slow, and only declined
ssc. Considerable interest was manifested
IN mess pork. and speculative trading was
quite active, though largely in contracts for
July. Sales at the opening were made at
slight advance, but this was quickly lost.
With good buhing prices, rallied 25@27l2c.
closed steady. Trading was light i'll lard and
the feeling was stronger. Prices were ad-
vanced 5@7l2c: these appropriations being
moderately well supported. A fairly active
trade was reported in short ribs and the feel
Ing was stronger. Prices advanced 7l2@10c,
and closed steady.
The leading futures ranged as follows:
Wheat-No. 3 June opened at see, closing at
S24c; July 7Sl2c. closing at 7S3sc; August
77l8c, closing at nc; year 76lsc, closing at
zee. Corn-No. 2, June closed at 345sc; July,
35Ac, closing at 35Ac; August 357sc,
closing at see. Oats-No. 2, June opened
at 239sc, closing at 23c; July 235sc, closing,
at 23Ac; September closed at 23l2c. Mess
Pork per bbD-June opened at SLIGO,
closing at SLIGO; July opened at $11.75,
closing at $l1.90; August, opened at
ST.. 92l?, closing al Si2; Lard Per 100 lb9
July opened at S695, closing at $685.;
August opened at $696l2, closing at 81.
Short Ribs (per 100 lbs)-June opened at
S6-o212, closing at .071a; July opened
at $5.0712 closing at S6.1212; August
opened at $6.l5, closing at $500.
Cash quotations were as follows: Flour
steady and unchanged Wheat-No spring,
S3c: No. 3sprlng, 7l@7Sc; No. 2 red, s3c.
Corn-No. 2, Slice. Oats-No. 2. 22s4@227Sc;
Rye-No. 2, 40s4c. Barley-No. 2, none Flax
Seed-No. 1, $1.55. Pure timothy seed,
S1.33. Mess Pork-Per Dbl, S11.75@ll. 80.
Lard-Per 100 lbs, S6S2l2@6S5. Short
ribs sides Qoose), S. .95@6. Dry sailed
shoulders (boxed), S.. 25@5 so. Short clear
sides (boXed), $4,000. 37l2. Whisky-Dis-
illers' finished goods, per gal, $1.O2. Sugars
unchanged. Receipts-Flour. 1900 bbls;
wheat, $4,000 bu; corn, 219,0O0 bu; oats,
100000 blu; rye, 10000 bu; barley, &c.
900 bu: Shipments-Flonr, 1900 bbls;
$50, 600 bu; rye, 10000 bu; barley, 1900
bu On the produce exchange today the
butter market was weak but unchanged eggs
firm nj Dc