St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-07-12
WEAKER THAN KILRAIN.
Foreign Cables Cause the Backbone of
the Wheat Market to
Timber.
The Unexpected Break Is Most Violent
on the Early Fut-
ures.
Financial Operations Of the Money Ma
nipulators---The General
Quotations.

CHICAGO, July 1.-the wheat market TO-
day was weak but lively. The government
crop figures were better than anticipated by
the bulls, but prices nevertheless opened
fraction higher. and tor few minutes the
buying was sufficient to make show OF
strength. This did not last long. Gables
came UNEXPECTEDLY weak. Liverpool quoted
spot wheat pence lower, with futures quiet
and prices tending down. London quoted
spot 3 pence to 6 pence lower. Antwerp
also sent weak and lower cables The ex
PLANTATION of the cables was said to be the
offerings of Russian wheat and the brilliant
weather abroad. Prices yielding slowly at
first, the bulls waiting the prospects OF
new wheat here. Three cars received graded
No. 8. Bills were received for other cars to
follow in few days. Later in the day it was
learned that twenty-eight cars of new wheat
had alrerdy arrived for to-morrow's inspec-
ton, and it was given out that eighteen of
the twenty eight cars will grade No. 2. This
caused sharp break in July and the general
selling which followed caused the other fu-
lures. already shaky to decline also. Several
good houses who sold yesterday also sold
heavily on the break to-day. The break was
most Violent in the early futures, but in De-
cember the price yielded 1l2c from the bot
tom and closing price last night. July sold
at 93I2c to 91a4c, reacted to 92Ac
and went off to soc before
l O'Clock. September opened Ac
higher at 79Ssc. and sold down &c to 77ssc.
December, SO7sc to Sic, to S1Bc, and off
84c to 1890 half an hour before the close.
There was an item of bull news in the clear
ances. New York cleared about 80, 600 bu
of wheat and Is, 900 bbls of flour, while Bal
timore cleared the largest amount of flour
from any one port for months, viz: so, 600
packages. The Dodge report from Washing
ton was as usual puzzle. 1t gave the gen.
eral condition of winter wheat at 90, and
that Of spring wheat at S3. One estimate on
these figures is a total crop of 321 ,OOO,0
bu winter and 1914 900, COO bu spring, aggre-
eating 495, 100000 bu for the crop. An
other method of figuring made the total 1885,
100000 bu. The Price Current estimates the
crop at AS, 100000 bu. Outside markets
were lower with Chicago. The corn market
was narrow, and it had very weak
tendency. This tendency would undoubt-
eddy have been more marked were it not for
the fact that Hutchinson was persistent
buyer of September all the morning. Oats
were easy and A@Ssc lower. Receipts were
% cars of winter wheat, cars spring, 419
cars corn and 189 cars oats. Withdrawals
from store were 9,O56 blu winter wheat,
1924 bu spring, 22S,964 bu corn and 49,
GIG blu oats. Provisions were dull, and in
clined to weakness. The decline of sc in
hogs at the yards, and the weakness OF
grains, caused this feeling. There was no
business of importance transacted, the larg-
est trade being the purchase Of 5O0,C lbs
Of ribs by the Weare Commission company.
THE QUOTATIONS..
The leading futures ranged as follows:
Wheat-No. 2 July opened at S3L2c, closing
at 7s12c; August 7912c, closing at nc;
September, 1850, closing at 771sc; De-
cember, 807ec closing at 797sc. Corn-No.
2 August, 50 7sc, closing at 35Ac; septem-
Der, 361sc, closing at 3512c; October. 36ssc,
closing at 35S4c. Oats-No. 2 August &c,
closing at 2I7sc: September, 22lsc, closing
at 2234c. Mess Pork (per bbD = August,
$11,25l2, closing at 81 SOC; September,
$1,000, closing at $40. 40. Lard per 100
Gbs)-August, Sc. 80 closing at S6.2712; Sep
TENDER, $40. closing at Sc. 3712 October,
$40, closing at S6.37l2. Short Ribs
SCI 100 sep p6 Aus S. ST. cios fl9sa az
S.. so; october, S5.s2l3, closing at S.. 72la,
Cash quotations were as follows Flour firm
and unchanged. Wheat-No. 2 spring, 76I2
@@59c; No: spring, none; No. 2 red, 7sl29
2 a2&c cG RReSo g. 5oAf Bar 4stsSo'
timothy seed, $142@43. Mess pork, per
Dbl, $11.3o. Lard, per 100 lbs, $625; short
ribs, sides Qoose), 500. Dry salted
shoulders (boxeO,. SIS. 25@5. 37l2. Short
clear sides (boxed), $6.12I2@16.25. Whisky
-Distillers' finished goods, per gal, S1.02.
Sugars unchanged Receipts-Flonr 1000
bbls; wheat 5000 bu; corn, 300, 900 blu /;
oats, 114.o00 bu; rye, 1000 bu; barley,
5000 bu. hipments-Flour 5000 bbls;
wheat, LOCO bu; corn, 2S2,O0O bu; oats,
exchange to-day the butter market was
quiet and unchanged. Eggs quiet at liz
M12c