St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-07-13
WHIPSAWED THE CROWD.
Tailers Beaten on the Decline and Also
on the Rally in
Wheat.
The Russian Crop Scare Rehashed as a
Cable From an American
Consul.
Financial Opera tons Of the Money
Kings---The General Quo
tations.

CHICAGO, July 12.-It looked very much as
If the crowd got whipsawed in the wheat
market to-day. The market opened with
prices little changed from last night. Dur
ing the first half hour there was further
decline, with the trade generally in selling
mood. caused by the weak cables and the un-
expected arrival and grading of new wheat.
July went to 7Sc, September to 761sc and
December to 7SSsc. Just then one or two
houses attempted to take some July, and the
price went TO soc in short order. Other
futures reacted slightly from the bottom, but
smaller traders went on selling. This was the
opportunity of the plungers, and heavy sell
ers for two days past. They bought quickly
and bought heavily to cover. The tallers
were beaten on the decline and on the rally,
when September recovered to 77lsc and De-
cember to 791sc about noon. August ana
July went TO 7Sl2c and back to 79l2c, Sep
TENDER to 1850 and back to ne, and Deem
Der to 7S34c and back to 791Sc before L
o'clock. The new wheat here reached 80
cars, with 81 cars of No. 2 grade. Outside
influences were conflicting. Liverpool quoted
spot wheat penny lower. The Russian crop
scare was rehashed as a cable from the
American consul at Odessa, saying
that the damage was even worse
than reported A New York dispatch
said NO wheat taken for export to-day, and
five boat loads previously taken for London
resold." Export clearances were but %
900 bu of wheat and 1000 bbls of flour from
New York. When the close was reached
prices in wheat were irregular. The trade
was heavy to the close, and as broker re-
marked, about three crops were handled in
the pit to-day" Receipts were sc cars. The
froi6 ~ oil fn-6a
the break of yesterday. A few of the shorts
were, however disposed to buy little, and
the result was a frmer market The
crowd bealish, but as spectators
are afraid to sell the trade is
quite dull. Receipts we're 4O3 cars. The
trade in oats was light, except in spurts. On
the whole prices were slightly better than
last night Receipts were 179 cars. With
trawals from store were 20, 14S bu winter
wheat. 23,91S bu spring, 424 1863 bu corn
and 1s3,90S bu oats. There was considera-
BILE activity, some raiding, general selling
aud quite break in provisions during the
morning. The receipts of hogs have contin-
ued large so long that the trade appears to
have fixed on lower prices for the products.
Toward midday there was q reaction caused
by shorts covering and last sales were but
2l207l2c lower than yesterday.
THE QUOTATIONS..
The leading futures ranged as follows:
Wheat-No. 2 July opened at 7Sl2c, closing
at 7sa4e; August 764c, closing at 764sc;
cember, zoe, closing at 7ss4c Corn-No
August, 3514c, closing at 33Ac; Septem-
ber 35l2c, closing at 3j4sc; october. 356sc,
closing at 357se Oats-No. 2 August, 216sc,
closing at 2l5sc; September, 21a4c, closing
at 2lS4c. Mess Pork (per bbD August,
S11.1212, closing at $11.2712; September,
S1l 27l2, closing at Sll.30: Lard per 100
lbs)-August, S6.27l2 closing at So. y u: Sep
TENDER, SG.33, closing at S6.35; October,
$6.32I2, closing at $6.35. Short Ribs
(per 100 lbs) = August $40. closing
$5.z2l2; September, S5.77l2. closing at
1913; October, S5.67l2. closing at S.. 67la.
and unchanged. Wheat-No.2 spring, 784
@D79Ac; No. 3 spring, 7Sc: No. red, 76s4@
79Ac Corn-No. 9, 35$Sc Oats-No. 2
22Ac. Rye-No. 2, 43c. Barley-No. 2,
nominal Flax Seed-No. l, S1.33. Prime
timothy Seed 81 42@1.43. Mess pork, per
Dbl, S11.25. Lard, per 100 lbs. Sophia
Shortribs, sides Qoose), S5.G5. Dry sailed
shoulders (boxed), S5.25@5.37l2. Short
clear sides (boxed), $G96.l2t2. Whisky
-Distillers' finished goods, per gal, S1.02.
Sugars unchanged. ReceiptS-Flour, 1000
bbls; wheat IL 900 bu; corn, OBS, 900 bu;
oats, 10000 bu; rye, 1000 bu. Shipments
Flour, 1000 bbls; wheat, 10000 bu; corn
$4,000 bu; oats, 161, 900 bu: rye, 1000 bu;
barley, 5000 bu. On the produce exchange
to-day the butter market was quiet; fancy
dairy, l l2@ l 2l2c; fine, 10@12c. Eggs quiet
or 11InG1Dn