St. Paul daily globe., 1889-05-24
FINANCE AND COMMERCE.
Wheat Closes 3-8c Higher on Chicago
Change.
.ARGE EXPORT BUYING.
st. Paul the Feature In the Stock Mar
kets---Everything Moves Up
ward.


Special TO the Globe.
CHICAGO. May 23.-There was fresh activ-
ity and little show of returning strength in
wheat. The market sagged so low that an
item or two of anything like bull news had
sudden effect. Early dispatches brought re-
ports of light frosts in the South and frost
sufficient TO injure garden products at Toledo
and points in Indiana This made the small
shorts feel uneasy This news was helped
also by the twenty eight boat loads taken for
export at New York yesterday and the cash
wheat taken here yesterday and to-day. The
change of feeling wss most noticeable at the
opening when futures started ks0s4c higher
mere and at New York, and Ac better at
Toledo and st. Louis. While cables were as
bearsh as on previous days. the eX-
port clearances were better-123,0OO bu
of wheat and . $4,000 barrels of
flour from New York, with some
$4,000 bu, of wheat from Baltimore. This
made even the bears cautious about over
selling and made temporary rally qulte
easy. The action of July in this market was
76ss 10 76s4, to 76Ss, TO 767s. to 16l2 at p.
m. June sold at so and S014; September at
73s4 and 74ls; December 75Ss and 753s. 1t
was conceded that more advance would have
been made bu. for the attitude Of Hutehin-
son. who opposed any upward action: Cud-
ahy and Partridge sold on the advance.
Among the best buyers were Irwin, Greene
& Co. Helmholz. Lamson Brothers and Jones'
Kennett. Receipts were light. only Is cars.
The estimate for Friday is 90 ears. The
bullish feeling wore off in wheat before the
close Last prices were about the bottom
for the day, yet u to So better than
last night few OF the ELL Iocal com pro o.
the outset on account of the cold weather.
The receipts. however, were too much Tor
them. and the market soon got back to its
closing figures of yesterday. The reeelpts
III Il
highest estimate made. and there are also
1900 received by canal. The early estl-
mate of 1850 cars for tomorrow also helped
TO depress values. Receipts to-day, S63 ears.
Oats were quiet and steady. Receipts, 2Sl.
There was good activity. without heavy bust
ness, in hog products all day. The receipts
of hogs were first posted at 10000 and later
at $4,000. and dispatches reported hogs 60
ing quickly. At the same time mess pork.
after opening sc lower, started up IN nerv-
ous way. July sold at S11:50 and up to
S11SO before the call. Short ribs also
moved up 17l2c to $3.50 for July. Lard was
but little changed and cables gave spot lard
5 pence lower. The shorts created yesterday
thought it prudent to cover and the bulge
was soon over. July pork closed S11.I7l2,
22l2e higher; lard, S6.75. 2lsc better; short
ribs. S5.77l2, or 71ae higher. Hogs at six
points, $1,000, against Il, ,uCO last year.
ROUTINE REPORT.
CHICAGO. May 23.-There was more doing
In wheat to-day, and a better feeling existed
early. The opening for July was l2c higher
than Yesterdays closing; sold both lsc below
about ssc higher than yesterdays closing,
with feeling easier The tirmness was attri-
buted to reported large export buying at the
seaboard late yesterday, confirmed by more
some by fears of frost i'll the. Northwest:
There was better buying, and in spite of
some rather liberal selling the market held
up well most of the session. shorts coy
cred freely. The weather bulletin indi-
also reported weather getting warmer.
This induced the selling OF some wheat
bought early and full outside prices were not
maintained. Cables were bearish. A quiet
firm feeling prevailed in corn: fluctuations
kept within ssc range, and the volume of
business was only moderate. There was no
new feature of Importance developed and
the market showed little. if any, change from
yesterday, operations being confined largely
to local traders. The market opened at Ac
advance over the closing prices of yesterday,
eased off u, changed frequently within Csc
range, and closed 4sGD14c higher than yester-
day. In oats a fair business was transacted
III June and July, but other deliveries we're
neglected, not enough trades being made to
establish quotations. A firmer feeling
prevailed and prices advanced slightly
quite an active business was done in
irregularity Opening sales were made at sc
decline, but the inquiry was sufficiently ac-
tive TO advance prices to 37l2@4Oc, especially
for July delivery. Later the market ruled
rather quiet and prices settled back 1O@12l2c,
closing comparatively steady. a little more
life was manifested in the lard market and
trading was fairly active. The feeling was
easy at the opening and prices ruled 2la@5c
loEeT Later, the he market market showed more
recovered Demand mainly from the ''short'
interest. Speculative trading was brisk in
short ribs, especially during the early part of
the day. Prices were advanced 12l2@15c.
Later the inquiry slackened somewhat and
prices sagged back again 5@7l2c aid the
market closed steady.
Wheat-No.2 June opened at sOa4c, closing
at s0Ac; July, 76lsc, closing at 76ssc;
soslns ogHs f?e ec closing at year nM
at 3Slac. closing at 33ssc; July, 34c,
closing at 34c; August. 34l2c closing at 34i2c.
Oats-No. 2 June opened at 2254c, closing at
5i 225sc; July, 22s4e, closing at 2294e Mess
sII.77ls: August, SI1.67Is. closing at ST 80.
Lard (per 100 lbs)-June opened at S6.65,
closing at s6.67ls; July, s6.70 closing at
Short Ribs per 100 lbs)-June opened at
$3.50, closing at $50: July, 3.7G. closing
at S5.76; August, S5.S7ls, closing at SIS. S7l2.
Cash quotations were as follows: Flour
spring, slf.@s2Ac; No. g. 771sc; No. 2 red,
No. 2, 225sc. Rye-No. 2, 4Oc. Barley
No. 2, nominal; Flax seed-No. l, $1.53;
Per Dbl. s11.7O@11.75. Lard-Per 100 lbs,
S6.67l2@6.7O. Short ribs, sides Qoose).
S5.70@5.75. Dry salted shoulders (boxed),
5.121205.2 25. Short clear sides (boxed),
s6. 12l2@6.25., Whiskya.Distillers' finished
Receipts-Flonr, Is, 900 bbls; wheat, 13, 900
bu; corn. 545, 900 bu; oats. 179, 1000 bu;
rye, 5000 bu: barley, 5000 bu. Ship
bn; corn, 81 too bu oats oats 12s eo ooS ba rye
1000 bu; barley, 1000 bu. On the prod
uce exchange to-day the butter market was
firm; fancy creamery, 15@16c; choice to
fine, 12l2@ lie; fancy dairies, 12@l4c; fair
to good, o@10c. Eggs firm at 12@1212c.
r. M. NEWPORT & SON,
fnvocf1,o0f Qnnknre