St. Paul daily globe., 1889-02-26
The COMMERCIAL RECORD.
Extreme Weakness in the Wheat Pit,
the Price of the May Future De-
clining Hail Point.
Corn Slumps in Sympathy, Oats Dull,
and the Trade in Provisions
Very Sow.
Financial Operations in the Monetary
Centers.--T General Quo
tati0ns.
speeiai to the Globe.

Sp6Cldt 10 InC OiODS'
CHICAGO, Feb. 25.-The wheat mar
ket was not without few new feat
ures, but they did not cause great activ-
ity or decided change in prices. Very
soon after the opening there was
weaker feeling apparent. The weather
furnished no crop scare news. Pacific
coast dispatches reported good rains,
and there was weakness noticed in
the Northwest. The market opened
weak, and on free selling by number
of good houses, there was decline in
the price OF May from Sl.0914 to Sl.0S12.
Then there was rally of 1c started by
the prospects of good decrease i'll the
visible supply, and held along by buy
ing by Baker around S1.09, and others
above that figure. At IL a. m. May
touched Sl.0915, the outside price for the
day. and the realizing which usually
follows little bulge on the visible fig
ures put the price back to S1.0Ss4, where
it was dull until afternoon. Later there
was q second rally to $1.094, and at p.
m. the price went off to Sl.0S, the lowest
point up to that hour. This price ull-
doubtedly touched stop orders, for the
pit was the most excited for the day, as
the price dropped to Sl.07$l, and went
Immediately back to $1.0S, where it
closed weak. The movement of wheat
was not very significant. The visible
supply decreased 695.000 bushels, or
about % per cent more than was eX-
pected; the stock here increased $1,000
bushels. Receipts to-day were l34 cars,
with 90 cars of contract wheat on the
inspection sheet. The stock OF wheat
here is now 4.477,000 bushels. and at
New York S,244,O00 bushels. Corn was
quiet and the market trifle weak for
the day, with closing prices about &c
lower Receipts were 52G cars, with 437
cars estimated for Tuesday. The visi-
BILE supply increased $4,000 bushels.
The stock here is now 3.073,000 bushels.
Oats were comparatively dull. There
was a little show Of strength early and
buying by Boyd and others, but the
close was the same as on Saturday. Re-
ceipts, 2l2 cars. Visible supply de-
creased 10000 bushels. The provision
trade was very slow to-day, and the
principal action in futures was early.
Prices ranged lower. and the close was
at the bottom for the session.
TIE GENERAL QUOTATIONS.
Wheat-No. 2 February closed at
S1.04sl; March closed S1.O59l; May
9515c, closing at 94c. Corn-NO. 3 Feb
rliary closed at 341sc; March opened at
254c, closing at 3411sc; May, 351sc. clos
ing at 3512c. Oats-No. 2 February
opened at 251%c; March, 25Mc, closing
at 25$lc; May 273c. closing at 275s.
Mess Pork (per bbl)-March closed at
Sl1.05: May opened at sl1.40, closing at
s11.25; June opened at $1l.40, closing at
s11.35. Lard (per 100 lbs)-March closed
at s6.7715: May opened at s6.9215, clos
ing at $G.S7!@: June. $6,92l5, closing at
$6.G21$. Short Ribs per 100 lbs
March opened at SSH, closing at
S5.S71 May. $G10, closing at S6.05:
June, $6.l5, closing at S6.l21a;
Cash quotations were as follows: Flour
firm and unchanged. Wheat-No. 2
No. 2 red, S1.04$[. Corn-No. 9, 3417s@
3414c. Oats-No. Q. 2514c. Rye-No. 2.
43slc. Barley-No. , nominal. Flax
Seed--No, i, $1.54. Timothy Seed
Prime. $1.42ta1.43. Mess pork, per bbi,
$l1,05M1l.10. Lard, per 100 lbs, 1.75(G
G.711s. Short ribs sides Qoose), $6.S5(0
695. Dry salted shoulders (boXed), S5.25
(05.311@ Short clear sides (boyed), S6.12%
625. Whisky y-Distilers finished goods,
per gal, Sl.03. Sugars unchanged. Re-
ceipts-Four, 1900 bbls: wheat, $4,000
bu; corn, 114,000 bu: oats, $4,000 bu;
rye, 5000 bu; barley, $1,000 bu. Ship
ments-Flour. 1000 bbls; wheat. 10000
bu; corn, $4,000 bu: oats. $4,000 bu;
rye. 1900 bu: barley, $1,000 bu. On the
produce exchange to-day the butter
market was steady and unchanged.
Eggs steady at 13Q0l311ac.
THE ROUTINE REPORT.
CHICAGO, Feb. 25.-A moderate busi-
ness was transacted in wheat, and the
feeling was weaker. with prices aver
aging somewhat lower all round. The
opening was At63Sc lower than Satur-
days closing, declined 119c more, then
rallied 1c, declined 1$lc, and closed
about 13Sc lower than Saturday. Do
mestic markets were all weaker, and
Minneapolis, which has been sore over
Chicago, is now selling OH a par with
Chicago prices. Reports were also re-
ceivcd of rains in California, and that
the winter wheat crop in the South and
Southwest was looking well. Corn was
quiet and steady all day, trading being
rather light and almost entirely local.
There was nothing new of Importance
developed. and fluctuations did
not show much change from
Saturday. In oats during the
first part of the session fair
business transpired, one buyer taking
all the May offered. Prices advanced a
fraction. After early buyers had been
filled up. dullness prevailed. Offerings
increased and the market closed quiet
and easy. A little more life was mani
tested i'll hog products and the market
was stronger in general way. A fairly
active trade was reported in mess pork.
but almost exclusively in contracts for
May delivery. Early the market was
stronger and prices ruled 71a@l0c
higher. but gradually settled back again
I5G1715c and closed quiet. A moderate
trade was reported in the lard market
and the feeling was steadier. Prices
were advanced 219@5c early, but re-
ceSed and closed quiet. Less interest
was manifested in ribs, and trading was
lighter. Early sales were made at 219@
sc advance, but prices were not support
al 60 l, al