St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-01-14
The COMMERCIAL RECORD.
Large Quantities Of Long Wheat Dumped
on the Market-.-Prices Slumpina
Two Points,
Pronounced Duiiness in Corn and Oats,
Provisions Holding Up Well ALI
Around.
Financial Transactions in the Monetary
Centers---Fhe General Quota.
tons.

CHICAGO. Jan. ia tremendous volume
of business was done in wheat during TO-
days session, and the tone was that OF ex-
ceeding nervousness. A large quantity OIL
long wheat was dumped on the successive
plunges and the bears were full OF agrees
siveness. After the regular closing III New
York, dispatches from there Indicated
panicky feeling. Some reports were re-
ceived of a little export business being done
at the break in Baltimore and New
York. but to offset that. information came OF
millions of bushels of long wheat pressing
for SALE Every other domestic market sym
pathized with Chicago. Minneapolis broke
&C. and the curb close in New York shows q
corresponding shrinkage. The local market
was left almost without support, except
what the shorts gave it. There was heavy
buying by Hutchinson down to Sl.u2 for
MAY, and later by the Fairbank contingent,
but the tide overwhelmed everything
and bore down all opposition. The extreme
range OH the day was &c. and the close was
2ISc under yesterday. Fluctuations were
very narrow in corn, business of the smallest
scalping character and pronounced dullness
was the most notable feature in that pit.
May was only lsc under yesterdays closing
quotation at the end to day. Oats were less
active than for two days previously, and the
feeling was nearly steady. The provis-
ion market was fairly active for Satur-
day, and there was no abatement III
the interest recently shown in the deal,
though the volume of trading was not as
large as on the earlier days of the week. Re
ceipts OF hogs we're nearly twice as large as
expected This caused weak opening i'll
provisions, and lower range of quotations
on the whole list. Pork started off Toe
below Yesterdays closing, and proceeded to
drop another Zoe, or to $3.50. In the
meantime lard broke 12lac, and ribs 7lac.
Then the market steadied, and throughout
the last half of the session all offerings
were quickly absorbed. The buying SO far
as could be judged by the gossip af1oat, was
by the same strong parties who have been
credited with bullish intent all the week.
The strongest feature to-day was recovery
of all of the ground lost early in pork right
in the face of &c break in wheat. The best
prices of the day were established in the last
half hour of the session. and the actual
shrinkage in speculative values was limited
to sc in pork, 5@10c in lard and 5@7lac in
ribs.
THE ROUTINE REPORT.
CHICAGO. Jan. 12.-The wheat market was
heavy, and the feeling at the same time IN
settled within lower range of prices. The
weakness developed yesterday, and the I'M
certainty in re gard to the final government
report created uneasinesS among traders.
especially the weaker longs" and when the
rush was made to sell. there was de-
moraliZation for the time being.
The opening was stronger than yester-
days closing, and prices from the
start were Is0DSsc higher, caused by some
shorts covering, but the speculative offerings
increased and prices settled back sSc and
fiuctuated for while within a small range,
but suddenly the speculative offerings became
heavy, supposed to be due to the receipts OF
the government report, and when prices
reached below 81 OF for May, stop limitloss
orders were reached, and, under a flood
of selling orders, prices declined TO q
point Dice below the top price reached early
in the morning. Although the government
report was not as large as expected, it had its
effect on the already weak market which eX-
listed. There was Il recovery of 7sc later. in
fuenced by covering Of shorts. but general
reaction occurred and the closing was &c
lower than yesterday. Very little interest
was shown in the corn, the market opened at
about yesterday closing figures ;changed but
little. Operators who usually trade i'll this
cereal, giving wheat their attention, and at
the close prices were about the same as the
final figures of yesterday. There was only
moderate interest in oats and quiet and
easy feeling prevailed in the near futures,
but the more distant ones were steady. A
fairly active trade was reported i'll mess
pork and the feeling was somewhat unset
tied and prices irregular. Opening sales
were made at 1Jc decline, and
further reduction of Zoe was submitted
TO. About the middle of the session
stronger feeling was developed. and prices
rallied 12la@l5c, closing steady. Trading
was moderately active in lard. Early u
weaker feeling prevailed and prices receded
7l2@1Oc. Later more steadiness prevailed,
and prices rallied slightly, closed compare
I;rl
ported in short ribs and the feeling was
easier Prices ruled 5Go7l2c lower and the
market closed steady at outside figures.
THE GENERAL QUOTATIONS.
The leading futures ranged as follows:
Wheat--No. . January closed at 96c; Feb
ruary opened at 99i4c, closing at 97c: May,
S1.03ss, closing at $1.0o7s; July, 943sc,
closing at 92l2c. Corn-No. Q, January,
closed at 335Sc; March opened at Soc,
closing at 35c; May, 3684c, closing at 3t5Sc.
May opened at 27s4c, closing at 27sSc
Mess Pork, per bbl-January, opened at
$13. 30, closing at $3.50: March, Sl3 30,
closing at $13.45; May, $500, closing at
$3.50: Lard, per 100 Disciplinary, opened
closing at S7.31l2; May, 81 so, closing at
STATE Short Ribs, per 100 lbs-January
opened at $3.50 closing at S6.S7l2; March,
closed at S695; May. 81. %, closing at 81 OLE
Cash quotations were as follows: Flour
nominally unchanged. Wheat-No. 2 spring,
95l26196c; No. spring s3c; No. red 95la
996c. Corn-No. ., 33l261355sc. Oats--No.
2, 24l26p24aeec. Rye-No. 2, 4sc Barley
No. nominal. Flax Seed-No. l, ST. .6212.
Timothy Seed-Plime, $1.54@1.55. Mess
pork, per Dbl. $3.50. Lard, per 100 lbs,
$3.50. Short ribs Qoose), $500. Dry sailed
shoulders (boxed(, S6.37l2@6.50. Short
clear sides, boxed, 81. 5@737l2. Whisky,
distiilers' finished goods. per gal, $lo3.
Receipts-Flour, 1000 bbls: wheat, $4,000
bu; corn, $4,000 bu; oats, $4,000 bu; rye,
1000 bu: barley, 45.00u bu. Shipments
Flour, 1000 bbis; wheat, $4,000 bu; corn.
$4,000 bu; OATS ~. 600 bu; rye, 5000 bu ;
barley, $4,000 bu. On the produce exchange
to-day the butter market was better; extra
creamery, 24026I2c; extra firsts. 2l@23c
fancy dairy, 21l2(D23c; extra firsts, 16@1Sc.
Eggs better at l66D17c.