St. Paul daily globe., 1889-02-05
THE COMMERCIAL RECORD,
Substantial Decrease in the Visible Sup
ply Frightens Bears and May Wheat
Touches the Dollar Mark.
Corn Dull and Weak, Little Doing in
Oats, Provisions Showing Strength II
at the Close.
Financial Operations in the Monetary
Centers---The General Quo
tati0ns. :,
Special to the Globe.

Special to the Globe.
CHICAGO, Feb. 4.-The early market In
wheat showed strength, but there was no
great activity, and the trade anticipated an
easier feeling after the visible supply figures
had their temporary effect. The visible sup
ply was announced a little before noon. The
total supply was figured at 34,s74, 900 bu, a
decrease fo1 the week Of 721, 200 bu. This
was near enough the estimate to have no sud-
den effect. The stock in Chicago decreased
10000 bu, and the amount here now is
LABS, ,327 bu. The substantial decrease and
the belief that the amount on ocean passage
will also show decrease, took the nerve
out of bear operators. Then, too, the mar
ket here opened lac higher, with good buy
ing by Mitchell. Baxter and Baker, followed
by the scalpers and plungers. May
started at 99c, went to 9Ss4c, off to
9S4Yc, and up to 9S12c before the visible
supply reportwas posted. Then there was
an easy shot with May at 99asc. when other
good houses turned i'll to buy. After slight
advance Swartz-Dupee turned active buy
ers. There was little for sale. The crowd
was long but not in hurry to realize. When
this was discovered the buying was re-
doubled and the price Of May went quickly
from 9e12c TO 99c, and on another little
squirt the price went to 99Ac, with a reaction
to 99c. A third furry put the price to 99l2.
and a fourth effort made it touch 81, an ad-
vance of 2l2c over the close of Saturday,
which looked as if it would stand with the
close at the outside for the day. The out
side markets moved up readily with Chicago.
Local receipts were but Is cars. There was
a great influx of corn here to-day. aggregat-
ing 526 cars. This was very largely
No. stuff, and a great deal of it from
To-, n ftlo
billed through. The No. stuff was Is cars,
of which 6 cars were billed through. The
market was dull. with May shade lower and
nearer futures A@asc lower. Shipments were
10000 bu The stock of corn here now is
2,41s, 900 bu. The visibly supply increased
las, 900 bu. There was no change i'll oats,
and very little doing in the pit Receipts,
110 cars. Visible supply decreased A, 400 bu.
Provisions opened weak and sold lower all
around, with decided reaction before the
close. The later strength was attributed to
the advance i'll the price of hogs and the
strength III wheat. May ribs sold at S. 17l2
to $6.12l2 reacting to So .2212. Lard $6.95
off to $6.92l2, and reacted at the close to
S7.O2l2. Mess pork sold SLIGO Off to $1145,
and closed S11.7O.
THE ROUTINE REPORT.
CHICAGO. Feb. 4.-Trading in wheat to-day
was light and the market quiet during most
of the early session, with more doing later.
The feeling developed, however, was firm
and an apparently strong undertone existed
there was nothing specially new brought to
light, but one thing noticeable was that there
was less pressure to sell or fight the advanc-
ing prices. There was good steady buying.
The opening was A@I2c higher than Satur
days closing and quickly advanced 5sc more,
later receded Iac, but again became strong, I
advancing 1ssc, ruled strong and closed 2l2c
1.
about wheat in California being advanced
Influenced some by fears of damage to the
crop on account Of too dry weather. Corn 1
was very quiet and fluctuations were
The feeling developed was easier, de
largely to ! prospective larger receipts. /
Oats were rather more active during the lat
ter part Of the session The feeling was easy
and prices declined a shade. A moderately
active trade was reported in mess pork, but
the market wins unsettled. Offerings were
fair early, and prices opened fully lUc lower
than the closing figures of Saturday, followed
by further reduction TO 1Oc during the early
part of the session. Later the demand i'm
proved slightly and prices rallied 22la@25cg
and closed firm. Trading in lard was mod
crate Prices were about sc lower at the
opening, and a further reduction of 2l2@5c /
submitted to. Near the close the feeling was
steadier. and prices rallied 7N@IOc the
market closing steady. Short ribs were in
moderate demand and easier. Opening sales
were made at sc decline, and further re-
duction of 5@I7l2c was submitted to. Toward
the close prices rallied again, and the market
closed comparatively steady at outside fig
ureS.
THE GENERAL QUOTATIONS.
The leading futures ranged as follows:
Wheat--No. 2, February opened at 95c, clos
ing at 96lac; March, 9534c, closing at 96ssc;"
May, 977sc closing at ST.; July, SOC, closing
at 9O14c. Cern-No. 2. February opening
at 3514c, closing at 35lsc; March, 35@c
closing at 353sc; May, 367sc. closing at
367sc. Oats-No. 2, February closed at 25Ac;
closing at 27ssc. Mess Pork (per bbD-Feb-
ruary closed at S11.4O; March closed at
SlI.5O; May opened at $11.55, closing at
$l1.7O. Lard (per 100 lbs)-Feb bruary closed
at $500; March opened at S6.92l2, closing
at Sc. 9212; May, S6,95, closing at $7.o2l2.
So; March opened at S6.O5, closing at
S6.O7l2: Nay. S6.17l2. closing at Sc. 22I2.
Cash quotations were as followa: Flour un-
changed. Wheat-No. 2 spring, 9612c; No.
3 spring. 75@7sc: No. 2 red, 96l2c; Corn
No; 2. s55sci oass-No. ?, 25Ae. Rye-No;;
No. l. S160. Timothy seed-Prime, nomi
nal. Mess pork, per bbl, .31l2@11. 40.
Lard, per 100 lbs. $500. Short ribs sides
goose(, s6.o5@610. Dry salted shoulders
boxed, Sc 37l2@6.5O Whisk y-Dstllers'
finished goods, per gal. S1.O3. Sugars-Cut
loaf, 7ss@SI2c; granula,ed, Else; standard
A. 67s. Receipts-Flour: 6,Oo0 bbls;
wheat 5000 bu; corn. 144, 900 bn; oats,
bu Shipments-Flou 5000 bbls; wheat,
1000 bu; corn, 100000 bu; oats, 5000 bu;
rye, 900 bu; barley, $4,000. On the pro-
duce exchange to-day the butter market was
steady. Fancy creamery, 26@27c; choice
to fine, 20@22c; fine daries, 1S6l22c; good,
1l@12c. Eggs-Wea& at l2l2@l3c.