St. Paul daily globe., 1889-07-04
.PETERED AT The CLOSE.
Bulls Bulge the Market and the Bears
Then Take an Inn
ing.
july Wheat Closes a Full Hall P0ln'
Under Wednesdays Fig
ureS.
Financial Operations in the Monetary
Centers---The General Quota
lions.

CHICAGO. July 3.-In wheat to-day the news
&ls conflicting, the trade nervous and prices
irregular. The majority of the trade was. no
doubt bearish, but the action in July 1rlght-
ened them fnto buying early and hlndered
short selling later. The reports OF pretty gen
eral rains in the Northwest were more tnan
counteracted at the opening by the rams III
the Southwest, which, if they did no positlVe
damage, delayed harvesting ano maze II
more impossible to get new wheat OF the con-
tract grade in the market to any extent thls
month. This encouraged the longs ana
scared those short of the July. The result
was natural. July opened 7sc higher at Soc
and never stopped TILL it touched o4l2c.
There was reaction to S3S4c, second
bulge to 84lac, and before l O'Clock the price
for the month was off again to S3c. he
action was quiet; sensational early. Com
mission houses called on outsiders 10 settle
their deals, and local parties called each
other for margins. The entire short buying
of July was estimated at 100000 bu, mostly
scattered. The long interest is also scat
tered, or a squeeze might be expected. other
futures were controlled by July. August
sold at 7Sl2@79c, and off to the opening
figure; September, 7S34 to 79l4c, ana on 10
7sl2c at l clock. December was the prin-
S05sc. sold at SOssc up to S07sc and off to
soc at ! o'clock. Cables were slightly in
favor of the bulls. The were steady for spot
at the close. with futures Ad dearer.
Seven loads were taken for Antwerp Cor New
York late yesterday, and another dispatch
reported three loads taken to-day for South
Amerc New York cleared $4,000 bu
wheat ana Il, 900 bbls of flour. There
we're heavy realizing sales in all
futures on the early advance. Out in
;pection here reached 10000 bu to-day.
The strength in wheat petered out toward
!he close, when Jay Gould sold the same as
at the close last night. Receipts were 10
cars. There was prospect of very ma
!erial advance in corn early, but it was all
lost before the close. At the opening there
was slight advance en- the unfavorable
weather, the good demand for cash and up
turn i'll wheat. Later the edge appeared to
be off the cash demand. and this inclined the
crowd to sell. At the close prices were gen
sral)y l8c under last night Receipts were
b76 cars. Out inspection 413, 900 bu. Lake
charters to-day 333 900. Oats were easier
and 1s to 4c lower at the close. Receipts
were 206 cars Provisions were active.
Opening prices were 2I2@5c lower than last
night. and there was pretty general selling Of
short ribs. Lard was also offered freely, and
offerings of pork were liberal. There was
little active support, and prices yielded, clos
ing 15@20c lower on pork; 7l2c lower on
lard and 5@7l2c lower on short ribs.
GENERAL QUOTATIONS.
The leading futures ranged as follows:
Wheat-No. 2 August, 7SI2c, closing at
7SAc; September, 7S34c, closing at 7eSSc;
December, S04Sc, closing at 797sc. Corn
No. 2 August, 3514c, closing at 355sc; Sep
tember, Soc, closing at 357Bc; October. 36Ssc,
closing at 36Ac. Oats-No. August 22S4c,
closing at 22l2c: September, 22S4c, closing
SI1.55, closing at $11.55; September,
B1l.85. closing at Sll.62l2. Lard (per 100
lbs)-August, S6.45, closing at S6.45: Sep
tember, S662l2 October. $685., Short Ribs
(per 100 lbs)-August, So. 80, closing S5.S712;
September, S., closing at S5:;92l2;
October, 50 80, closing at S3.9D.
Cash quotations were as follows: Flour firm
and unchanged. Wheat-No. . spring, S0A
9S2Aci No 8 spring, 76@77c; No. 2 red,
2, 22Bc. Rye-No 2, 42s4 Barley-No. .
nominal Flax Seed-No. l, S1.46. Prime
timothy seed, S1.55@1.56. Mess pork, per
bbl, Sl1.50. Lard, per 100 lbs, S6.37l2;
short ribs sides Qoose), S.. .85@5.90. Dry
Bated shoulders (boxed), S5;25@5. .37L2.
Short clear sides (boXed), S612l2@25.
Whisky-Distillers' finished goods, per gal,
SIC Sugar unchanged. Recepts-Flour,
1000 bbls; wheat 5000 bu; corn, 49,
900 bu; oats, 172.U00 bu; rye, 5000 bu:
barley, 300 bu. Shipments-Flour, 1000
bbls; wheat, $4,000 bu; corn, 470, 900 bu;
oats, $1,000 bu: rye. 1000 bu; barley, 1000
bu. On the produce exchange to-day the
butter market was quiet and fancy ceamery,
15@l5l2c: finest dairies, 12@13c; fine, 10
~ or