St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-04-12
CONTINUED CONSERVATISM
Prices of Wheat Futures Close a Shade
Lower ALI Around,
THOUGH JULY WAIVERS SOME
Stocks Again Record an Advance---An
Intellectual Drive at AtChison---
The Meat Market.

CHICAGO, ILL.,, April 11.-There was
lively market most of the session in
wheat. At p. m. there had been some
range of prices in all futures, but there
was no decided change. There had been
during the forenoon two declines and
two rallies. leaving prices very near
where they opened, but about &c under
the close yesterday. 1t was anything
but weak, slumpy market. The gov
ernment figures given out last night
were not very decisive, but were re-
garded as somewhat bearish. The
cloudy, warm weather, with rainfall
here and elswhere, helped the bearsh
feeling at the opening. The bears were
on top at the close yesterday, after good
bullying of the market early. When
prices opened &c lower there was adj
ditional pounding and short selling, but
the shorts were very numerous and
took fright easily, causing a bulge
from the bottom Of 1c to 114c the
first hour. Then the heavy selling
put prices down a second time about
noon to the lowest points Of the day.
This was followed by second rally of
e to lie in all futures. The buyers on
the bulges were all those who had
enough wheat short to make them nerv-
Gus. The big persistent sellers were
Ream and Cudahy. May sold at S61@c,
to S514c, to $3.50, to S514c, to sec. June,
s514c, to S5c, to S614c, to S5c, to sec.
July, S31Sc, to $3.50, TO S31lc, to sage,
S2slc, to S2115c at II O'Clock. Receipts,
IS cars. Export clearances light for
wheat and -four. There was no very
definite news from the crop sections,
Wheat continued weak and unsettled
to the close. July closed near the bot
tom at S2114c, or 1870 under last night.
Corn was less active to-day. Prices
were unchanged at the opening, but
went off slightly for all futures,
regaining the latter loss in the day
and closing fairly firm. Receipts were
300 cars. Oats were active, and price
were comparatively steady in May and
weak in June and July. The market
possessed no feature; longs were sell
ing and shorts were covering. Re-
ceipts. AZ ears. Provisions were weak.
There was break of SOLO cents in the
price of hogs at stock yards, and re-
ceipts overran the estimates by 1900
head. May pork opened at S11.50, a de-
cline over night of 15c. In the next ten
minutes it sold at S11.4O. Baldwin
Farnum, who helped to break prices,
bought large quantity of property on
The decline. hapin-Edwards were
also large buyers. Warren sold large
quantity of pork and ribs, and Armour
If fo5, ~ NTN l1,,
May pork recovered to $11.5O shortly
after the opening, but thereafter be-
came quite dull around S11.4215@
11.471l.
THE DAYS TRADING.
CHICAGO, April 11.-Trading in wheat
was quite active to-day, principally for
July delivery. which, at present, is at
tracting the most attention. The ieel-
Ing was weaker and prices ruled lower
all round. May closed &c and June sc
lower than closing figures of yesterday.
July opened 19@}sc lower, sold off &c
more, advanced re, and then declined
17sc, advanced 3Sc, and closed sc lower
than yesterday. The weakness and de-
cline resulted from renewed desire to
sell, Influenced by the favorable show
Ing made by the government crop re-
port, cloudy weather and rains in some
sections. The rain, it appears,
according to the weather map,
was scattering, pretty general fall
OF rain in Southern Dakota,
but little in Minnesota and scattering
over the Southwest. The surface spec
hlating trading Oh behalf of local opera
tors developed rather heavy selling, es-
pecially some two or three floor traders,
with good buying by others. The
course of the market would indicate
that selling predominated. Only mod
crate business was transacted in corn,
fluctuations being confined within mar.
row limits and trading chiefly of local
character. The feeling was compare
lively steady, though at times an easier
tone was apparent, but values did not
vary materially from the prices estab-
liShed late in yesterdays session. The
feature of the trading in oats was the
3sc on June and &c on July, due to
free general selling and a lack of de-
mand from local or outside resources.
At the decline sellers tried to buy part
of their early sales, and in so doing
caused reaction of 1s@4c. The weak
ness in the more deferred futures had
its effect Oh the May delivery, which,
late in the day, receded re from outside
figures. Mess pork was quite active at
irregular prices. Opening sales were
made at 10@1219c decline, and further
reduction of 10c was quickly Submitted
to. Later the demand improved 715(0
Zoe. but settled back again 219@5c and
the market closed steady. Lard was
easier, fuctuating within a narrow
range and closing at medium figures,
Short ribs were fairly active and closed
at medium prices, with small huctua-
tons.
PRICES FOR THE DAY.
Wheat-No. 2 May opened at S61Sc,
closing at S636c; June opened at S511c,
closing at SEC; July opened at S3115c,
closing at S2$4c; year opened at 7S15c,
closing at T$lc. Corn-No. 2 May
opened at 1890, closing at 3455sc; June
opened at 35c, closing at SIC; July
opened at 353lc, closing at 355c. Oats
No. 2 May opened at 25$lc, closing at
2515c; June, opened at 2511sc, closing at
241sc; July, opened at 25c, closing at
2419c. Mess Pork (per bbD-May
opened at S11.50, closing at S11.50; June
opened at S11.55, closing at SLIGO; July
opened at S11.65, closing at l.67155.
Lard (per 100 lbs)-May opened at
$685., closing at s6.S215; June opened
at S6.S77a. closing at S6.S715; July
opened at $685., closing at S692%.
Short Ribs per 100 lbs)-May opened
opened at 1896, closing at Sc: july
opened at S6.05, closing at S6.O715.
Cash quotations were as follows: Flour
steady and unchanged. Wheat-No. 2
spring, S5115@S53sc; No. 8 spring, 7Sc:
No. 2 red. S515@S53sc. Corn-No. 2,
341sc. Oats-No. 2, 25c. Rye No. 2,
43c. Barley-No. 2, nominal. Flax
seed-No. 1, Sl.54. Prime Timothy
Seed-S1. 2G(01.2S. Mess Pork Per
Dbl, S11.45011.50. Lard-Per loo
lbs $3.50. Short Ribs-Sides Qoose, J