St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-04-24
THE LOWEST POINT YET.
Wheat Touched Bottom Yesterday, With
No Signs Of Improvement.
NOTHING DONE IN STOCKS.
Depression Is the Rule in All the Spec.
ulative Markets---The Days
Prices.
Special to the Globe.

Special to the Globe.
CHICAGO, ILL.,, April 23-The wheat market
reached that point to-day where short sellers
were slightly cautious and rather worked for
rally in order to get chance to put wheat
out at safer figures, Opinion was divided on
the amount Of short selling. George Smith
and Cudahy were heavy sellers of July. One
observer expressed the belief that no one
was selling except the tired longs, and that
no one was buying except to take profits.
NJ. c. Mitchell, after several weeks absence,
was good buyer. Hutchinson tested the
market early with sales, but on the whole he
bought large line. There was little to en-
courage immediate buying. except the fact
that prices were lower than at any other
time for the year. and July touched a point
said to be the lowest for. this future
at this season in the history of
the trade. British cables came lower with
spot and futures tending downward. At New
York there was hating in the decline and
July wheat there was nearly cents over the
price here. This is getting prices relatively
balanced as they have not been for months.
There was great break in prices here. May
sold Sic TO S1l2c, to S0I2c, to S11sc; June,
S1S4c to Sic, to Sls4c, to SO15c, to Sic; July
sold, 79c to 1850, to 1850, to 7Slsc, to 7984c,
to ISl2c at l o'clock. Receipts were Is cars
Export clearances of wheat and -four were
about 100000 bushels, mostly flour from
New York. Wheat was heavy and weak the
last half hour. and touched the lowest prices
of the day and of the season. Nav sold at
soc, closing at S016c: June at SOsSc. clos
ing at S0l2c; July at 7778c. closing at 7Sc, or
1850 under last night, There was considera-
BILE short selling by the crowd, while the big
now frNr- IL,
did not seem anxious to put out fresh lines
Oats were dull. There was but little business,
and prices were almost nominal Receipts
176 cars. Corn was dull and featureless The
range of prices was narrow Irwin-Green
sold moderate quantity Of the May future
and there was more or less changing of May
contracts to July. Atlantic coast clearings
yesterday were 10000 blu; New Orleans
cleared II, 900 bu. Receipts were 459 cars
The provision market early promised to be
very dull. Later in the day the trade began
changing May for July in mess pork, and May
for July and August in short ribs The esti-
mate for hogs tomorrow is 10000, and this
encouraged the raiders to SELL Manufac-
turers of product were sellers also Ribs sold
to S5.S712 for May and Sc O2la for July. a
decline of l0c and 7l2c respectively. Lard
sold to S6.92l2 for May and 80 for July.
Ness pork for May sold S11.75@11.25@
11.4212; July, 81. 95@11.55@116O
THE DAYS TRADING.
CHICAGO, April 23.-Ddring most of the
session dull and heavy feeling prevailed in
wheat and prices again touched lower point
than reached i'll the recent decline. In fact
the prices at which July wheat sold to-day
were lower that July wheat has sold in April
for many years, with the exception of the
early part of April last year, when July sold
as low as 7G1sc. The opening was easy and
prices is@$sc lower for July, and after sell
ing within narrow range, prices fur
Their declined 1c, rallied ssc, and closed l14c
lower than yesterday May opened about lie
lower, sold off lie more, and closed Use
lower. 1t was the sharp break in May and
June which helped to take July with
them. Foreign market advices were IN
favorable and domestic markets were lower
Corn ruled quiet the greater part of the ses-
sion, fluctuations being narrow and the feel
ing steady. The market opened at yester-
days closing prices, f1uctuated frequently
within 4c range and closed a shade lower
than yesterday. Oats were fairly active
early, but later became quiet, fluctuations
being confined to a range of 4c. The close
was at about yesterdays figures. Trading in
mess pork was active and the feeling was
weak. Prices declined 35@14Uc on the whole
range and the market closed quiet at inside
figures quiet and dull feeling prevailed
IN lard Prices ruled 5@7l2c lower and the
market closed easy. Rather more was doing
the greater portion of the day. Prices lea
12l2c lower and the market closed quiet at
inside figures.
The leading figures ranged as follows:
Wheat-No ? May opened at Sic, closing
at S0lsc; June, S1S4c, closing at S0I2c; july
I9c, closing at 7Sc; year, 7534c, closing at
75l2c. Corn-No- May opened at Slice,
closing at 34$sc: June, 3 Csc, closing at 3484c:
July, 35l2c, closing at 35l2c. Oats-No. 2
May opened at 22asc, closing al 225sc June,
2234c, closing at 227Sc; July, 235sc, closing
at 23Ac. Mess Pork. per bbI-May opened
1910, closing at 81 1.42la June, S1I S2I2,
closing at S11 .47l2; July, S11. 1924, closing at
SLIGO. Lard, per 100 lbs-May opened at
sG;s7l2' closing at $3.50; June, SG.s7l2,
S6.67l2. Short Ribs, per 100 lbs-May opened
opened at $500, closing at Sc;
July, S6.1O, closing at S6.O5Ia'
Cash quotations were as follows: Flour
nominally unchanged. Wheat-No. 2 spring.
795s@80c; No. spring, 69c for par; No. 2
red, 795s@s0c. Corn-No. 2, 34A@34ssc.
No. 2, nominal. Flaxseed-No. 1, S1.55.
Timothy Seed-Prime S1.35@1. SO. Mess
pork-Per Dbl, Sill .40@11.45 Lard-Per 100
lbs Sc. S0@6. see. Short Ribs-Sides Qoose).
$5.S712@5.95. Shoulders - Dry sailed
(boxed), S5.25@5.5O. Short Clear Sides
CBoxed); So. 25Q6.37l2c. Whisky--Distill-
ers' finished goods, per gal. $l,03: Sugars
Cut loaf, 9ls@9s4c; granulated S3sc; Stand
ard A, Sssc. Receipts-Flour Is, 900 bbls
wheat, 1900 bu; corn, 16S, 900 bu; oats,
141 900 bu; rye 1000 blu; barley, II OOU
Blu. Shipments-Flour, 25, 600 pbls; wheat.
$1,000 bu; corn, 429, 900 bu; oats, 12I, 900
bu; rye. 5000 blu; barley, 1900 blu. On
ket was weaker, but not quotably lower.
Eggs steady at 10In1 Ol5c