St. Paul daily globe., 1889-06-16
.SCALPERS ARE ALL AT SEA.
Wheat Higher, With Old "Hutch" a Very
Liberal Buyer.
A WHIRL OF EXCITEMENT.
Stocks Opened Dull and Lower,
but Prices Closed at an Ad-
vance.

CHICAGO June 15.-The wheat market was,
in many respects, a continuation Of that Fri
day. The strength at the opening was a sur
prise to those who looked for a reaction, and
the later advance completely upset the plans
of the scalping trade. The market was the
same as on yesterday, because the news was
of the same character. Rains continue In
the Southwest, where they are not needed,
and drought continues In the Northwest,
where rains are needed. British cables were
again firm, and prices tending up for spot
and futures The outside markets were
again in keeping with Chicago, and this en-
couraged many in buying. The market here
opened with a whirl of excitement, with
June selling from 7S7Sc to 79lsc, and quoted
officially at 79c There was a dip to 1880
7SAc, but the price went back to 79c in a
hurry, and in few minutes to 79Ac. June
in the same time sold at 9lAc and up to
S1l2c The deferred futures were less active
and less strong. September went to
76Ac. New York dispatches gave
the opening of that market very
excited, and July ssc higheron tine start, with
further advance to S4lsc on nervous buy
ing of shorts. Here the action of July was
79@7Sasc at s4c to 79Ac, to 7sssc, to 79Ac,
to 79c. to 73Ac. to 7S7sc at o'clock. 1t was
estimated that Hutchinson bought 100000
bu of wheat during the forenoon. and pre-
dicted that the price would reach soc to-
day. The crowd coppered his talk and sold
after 12 o'clock. Partridge bought heavily
also. There was not the same number of
buyers to-day, as many shorts have covered.
The wheat was sold by conservative houses
where it is regarded that the advance has
been quite sufficient until something more
like crop scare appears. The wheat mar
ket closed without any change to speak Of.
Receipts were II cars. Corn was active and
prices a trifie higher. Receipts were 346
cars. Oats were steady. Receipts, 1873 cars.
Pork was strong and higher, gaining 7l2@lOc
over Yesterday. Lard and ribs quiet and
trifle lower.
CHICAGO. June 15.-Wheat was quite active
again. and a nervous, unsettled feeling eX-
listed, with further improvement in prices es-
tablshed. but full advance not sustained.
June advanced lac, and closed s4c higher
than yesterday. July opened ssc higher;
further advanced 1sc. after numerous f1uctu-
ations, and closed ssc higher than yesterday.
Deferred futures advanced l20ssc. and closed
from same to 1sc under yesterday. Local
speculative operations had about as much to
do with the change in the market as any
other influences brought to bear on the mar
ket. Crop advices were so conflicting that
operators could place but little reliance on
them. From some sections in the North
received stating that while the growing
wheat looked fine, showed no damage, but
rain would be beneficial; others claimed the
crop looking very badly: again other advlces
noted rain, and others no rain at all. From
the West. crop advices continue favorable
and harvesting progressing rapidly. Foreign
markets were stronger. A moderate busl-
ness was transacted in corn early in the ses-
sion, after which the market became quiet
and inactive. The feeling developed was
higher prices, Influenced largely by the
strength in wheat. There was but little do
ing on outside account and transactions
were confined principally to local operators.
July and September received the most atten-
ton. The market opened at yesterdays clos
ing prices; advanced 1s@Ac. reacted to in
side prices, and closed about the same as yes
terday. Oats were stronger, and shade
higher. Trading was fair, and chiefly IN the
way OF changing contracts from July to Sep
tember. Rather more life was manifested i'll
the market for mess pork. The feeling, how
ever. was somewhat unsettled, and prices
ruled irregular. Early decline of 1Oc was
submitted to- but toward the close the market
The lard market was dull and decidedly weak
during the greater portion of the day. Prices
declined 2I2@5c, but rallied slightly. and the
market closed quiet fair trade was re-
change TO note in prices. Early prices de-
cined 2E2@5c. Later the market ruled
steadier, and portion of the reduction was
recovered.
GENERAL QUOTATIONS.
The leading futures ranged as follows:
Wheat-No July opened at 777sc, closing
at zoe; August opened at 76lhc, closing at
76c; september opened at 76Ac, closing
at 757sc; December opened at 7sc, closing
at 77l2c. Corn-No: 2 July opened at 34Ac,
closing at 34Ac: August opened at 34a4c,
closing at 34a4c; September opened at 35lsc,
closing at 3514c. Oats-No. 2 July opened
al 225sc., closing at 22ssc; August opened at
22lsc, closing at 22lsc; September opened
bbD-July opened at SLIGO, closing at
S11. .62Is; August opened at S11.7O. clos
ing at SI1.75; September opened at S11:77l2.
closing at S11.8O Lard, (per 100 lbsl--
E opened at sseo closing osnagIa at $eS7; &
September opened at S6.75, closing at
S6.721a. Short Ribs (per 100 lbs)-July
opened at 80, closing at $3.50; August
opened at S5.s7l2, closing at So. s7h; Sep
tember opened at S5.95: closing at s5;95;
winters, 81. 25@4.5o: bakers, s3@s5o:
Wheat,No. 2 spring, Sic; No. 3 spring -
Barley-No. 2. nominal Flax seed-No. l,
SI.54. Prime timothy seed. S125@1 .26.
Mess pork, per Dbl, Sl1.6O@11 IS. Lard,
per 100 lbs, $6.52E. Short ribs. sides Qoose),
$5.7O@5. so. Dry salted shoulders (boxed),
S.. l2I2@5.25 Short clear sides (boxed).
So. 12la@6.25. Whisky-Distilers' finished
goods, per gah S1.O2. Sugars-Unchanged
Receipts-Flour, 5000 bbls; wheat, 5000
bu; corn, 223. 900 bu; oats. 100000 bu;
rye, LOCO bu: barley. 1000 bu. Shipments
Flour, $4,000 bbls; wheat, $4,000 bu;
corn, 165, coo bu; oats, 42O,OOn bu: rye,
1000 bu; barley, 5000 bu. On the produce
exchange today the butter market was firm;
fancy creamery, 154s@16c; fine. 15@1545c;
finest dalries, l2@l3l2c; fine, 1O@12c. Eggs
firm at lZc