St. Paul daily globe., 1889-04-13
FEvERISH And FRETFuL.
Three Cent Advances in May and June
Followed by a Decline.
NORTHWEST RAIN REPORTS
Worked for ALI They Are Worth by the
Bears--St0eks and
Money.

ket turned face about before noon
to-day in very graceful manner. The
opening found prices steady for May
and June. and Sc lower for July. The
action of the market for few days had
allowed the formation of quite a short
interest among local operators. The
first thing done was to run the shorts
in. There was little May for sale. and
Hutchinson began bidding for that
month and the shorts took the hint.
The price went from S6114c to S912c in a
few minutes; June went from S61sc to
S9l5c at the same time. Schwartz and
Dupee were early buyers also. The
sudden squirt in May caused July shorts
to protect themselves. and that future
went from S2Ssc TO 335c the first hour.
For half an hour after the top prices
were reached there was wavering
market, with the crowd hesitating.
Gables contained nothing to hold prices,
as British markets were quoting spot
and futures lower. There was nothing
here to support prices, as the shorts
were all in. Then came the dispatches
from the Northwest about soaking rains
and happy farmers, while the weather
maps showed that Nebraska, Iowa, Da-
k0ta and Minnesota were all receiving
rainfall. The Northwest also sent heavy
selling orders to this market. Selling
here was led by y]ones-Kennett, Stauffer,
Cudahy and Roche, while Swartz-Dupee
also changed to the bear side. The
crowd noticed the turn. Theresult was
a sharp decline, which astOnished all
those not in the pit. May and June
tumbled down few fractions, but July,
the principal future, went from S3$lc to
size in short order. There was great
activity and some excitement. Linn
was the first to buy boldly at about bot
tom figures, and his purchases around
S1l@c held the market for time. There
was nothing on which to base q reac-
ton. Liverpool closed Id lower. At l
p. m. July rested at Sl%5c. Receipts here
were eighteen cars, with thirty-one cars
for Saturday. Wheat continued active
to the close. There was some
strength shown the last few minutes.
There was fair activity in corn early,
and prices, after opening steady, adj
vanced slightly in sympathy with the
early bulge i'll wheat. There was good
selling at the top, led by Cudahy, and
with the large estimate for Saturday.
$50 c&rs-put prices back TO the closing
figures of yesterday. Receipts were PSI
cars, with 50 cars No. 2. Shipments
were large, 461,O0O bushels. Export
clearanceS but about 10000 bushels.
To-day was an active one for oats. May
sold at 2515c, 24$$sc, 2419c, 241901245Gc;
June, 24$fc, 243Sc and 2415c: July, 245Sc,
243sc. There were an immense amount
of oats for sale and the sales were at
tributed to the clique, The impression
prevailed that some difference of opin-
ion among the clique had caused them
TO relinquiSh the idea of 5ornering May
oats. Receipts 135 cars. The provision
trade was a narrow one to-day. There
was the usual amount of scalping, and
prices opened steady, except &c better
for pork. Sales in the pit for May
were: Short ribs, $5.9O@5.921z; lard,
s6.711t5@6.S2, closing $3.50; pork, s1i.45
,d1l.55, closing S11.5215. Hogs at six
packing points $1,000, against $4,000 one
year ago.
TIE DAYS TRADING.
CHICAGO. April f2.-There was good
trading in wheat during most of the Ses-
sion, principally for July delivery. The
feeling was somewhat unsettled. and
the course of the various futures was
somewhat Irregular. May, for instance,
advanced SIC, broke off Sc, and closed
12Ic- higher than yesterday. Not much
interest was manifest in May, and little
attention given that month, conse-
quently light trading, either buying or
selling. caused wide fluctuations. For
June prices advanced SIZE, declined
2${c, and closed l sc higher than yeSter-
day. July opened 4@35c lower, adj
yanced sc. and then for awhile fluc-
tuated with moderate range until after
II o'clock, when the market broke off
about sc, reacted some and closed 111ic
lower than yesterday. 1t was the
opinion of traders that the May futures
was bid up to affect the de-
ferred futures and give operators a
better opportunity to sell. Shorts
covered freely. and operators. too got
loaded with long" wheat. which came
out again on the break. and helped to
Increase the weakness. 1t was rumOred
also that the wheat brought here yes
terday for shipment had been sold out
again for May delivery. and whether
this IS so or net, the rumor had its infiu-
ence on the market. Rains were re-
ported throughout the Northwest, and
this has made sellers more confident. A
fair business WAS transacted in corn
early in the session, after which the
market became quiet and inactive. The
feeling developed was steady, opening
sales being at yesterdays closing
prices, and under a fair local demand
the market advanced 3sc. The demand
was soon satisfied, however. and the
market reacted to inside figures, and
3inaI fnnt0finnS al,nnt ha
as Yesterday. Oats were weak and
lower. The opening was at yester
days close TO sc lower, with down
ward tendency. Prices for Nav de-
clined sc, rallied slightly, but closed
steady at nearly inside figures. Fluc-
tuations in June and July were small,
and the feeling rather steady. An un-
settled feeling prevailed in hog pro-
ducts, and prices fiuctuated frequently
within a small range. AT the opening
the market was stronger, owing to the
steady hog market, and increased Or
derS to purchase on behalf of outside
parties. Prices were slighsS advanced
on the leading articles. Rather free Of
ferings. however, caused weaker feel
ing and prices declined again, but soon
rallied with fair buying by local
'shorts." The upward tendency was
checked again and prices receded, but
toward the close the feeling was stead
ier and prices improved again slightly,
the market closing at about medium
figures.
PRICES FOR THE DAY.
Wheat-NO. 2 May opened at S614c,
closing at SSc; June opened at S615c
closing at S715c: July opened at S2sSS c,
closing at S13sc; year opened at 77a4c,
closing at 774c. Corn-No. 2 May
opened at "a &c. closing at 34@3SSc; June