St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-07-10
VERY like A SKY ROCKET.
The Wheat Market a Surprise to Ali
but the Enthusiastic
Bulls.
Notwithstanding the Heavy Rains the
Market Shows Exceptional
Strength.
Financial Operations by the Monetary
Kings---The General Quota
tons.

CHICAGO, July 9.-The wheat market was
q surprise to all but the enthusiastic bulls to-
day. 1t not only opened strong and higher,
made couple of slight bulges early, but be-
fore noon set in for broad and strong mar
ket with an advance of fully lie i'll Septem
Der and December over last nights highest
and closing price. This much occurred an
hour before the close when there was no
signs of weakness The trade apparently
forgot the government report due to morrow
in watching the strenth of the foreign mar
ket The bull news came from the other
side Early cables gave spot wheat V2 pence
dearer at Liverpool. and closing cables gave
July and August from l to 2 pence dearer. At
New York the loca trade was bearish, but
exporters were buying options on the
strength of crops and politics on the other
side. The amount on passage shows small
decrease The new wheat at st. Louis is re-
ported to be of inferior quality. Hutchinson
was buyer in the ST. Louis market The
market here was controlled by no one. The
bulls were buying on the news and the shorts
were covering for fear the crop figures to-
morrow may not save them. In the early
trading George Smith sold July freely, and
MeMitchel was a good buyer Prices ranged
as follows; July. S3I2c, off to SIC to S3l2c
limits. September sold, 79f&c to 953Sc, to
794c, to 79Ac, to 8Ol2c: December, $3.50
to elssc, to sic, to slice, to 91Ac, to 9215c.
The latest cables were the strongest of the
dav. and wheat continued to advance here to
the close. Receipts were % cars. Corn was
frmer. The good demand for cash corn and
the strength in wheat lifted values little.
1t was the opinion of many traders that it
would require large receipts to hold the mar
ket down. Receipts to-day, 632 cars. Oats
were dull, and 1804c lower. Receipts, IA
cars. Withdrawals from store were 1,797 bu
winter wheat, %, 600 bu spring, 19l Al bu
corn and 81, 029 bu oats. Pork was dull, and
prices were but little changed. Lard and
short ribs were fairly active, and about 2l4c
lower Packers were free sellers
The leading futures ranged as follows
Wheat-No. 2 July. S3l2c, closing at S384c;
No. 2 August, soc, closing at 9llSc;
September 79a4e closing g2a at 00 Corn Ne Ne
August, 35asc, closing at 80 sc; September
357sc, closing at 36lsc; October 36lsc, clos
Ing at 3GAc. oats-No. 2 August 22e, clos
Ing at 22c; September, 22Ac, closing at
closing at 81 SO; septews65eGT, o SI 1d!S
1t $40 so. Lard (per 100 lbsl-August,
es2Es' closing at sSI2ls sS SePtem Rihs
6.45, closing at So.4o. SuorI -nlpS
$3.50; Ivy september. $3.50, closing at
$3.50; October, S.. 80. closing at S5:75.
Cash quotations were as follows: Flour firm
and tending upward. Wheat-No. spring,
844c; No 8 spring, nominal; No. red,
s3&c. Corn-No 2, SIC. Oats-No. 2,
22slc. Rye-No. 2, 42s4. Barley-No. 2,
nominal. Flax Seed-No. l, S1.33. Prime
timothy seed, $1.45. Mess pork. per Dbl,
$3.50. Lard, per 100 lbs. $3.50; short ribs:
sides Qoose), S5.80@5 50. Dry salted
shoulders ,(boxed), So; 25@5. 33zl2. w., Short 7
clear sides (boxed), S6.l2l2@6.25 Whisky
-Distillers' finished goods, per gal, 81. o.
Sugars unchanged. Receipts-Flour. 12,-
quo bbls; wheat, 10000 blu; corn, 81 900
bu; oats, 136. 900 bu; rye, 5000 bu: barley,
1000 bu Shipments 10000 bbls;
wheat, $4,000 bu; corn, $4,000 bu; oats
1000 bu; rye. 1000 bu, On the produce
exchange to-day the butter market r was
nuiet; fancy creamery, 1512@16c; fine: I4l2
Eggs demand light at 12c.