St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-08-29
BIG BULLS TAKE WATER.
Afraid to Stand Their Ground, They IN
load and Cause
Slump.
Corn and Oats Lower in Sympathy, Pro-
visions Advancing
Shade.
Financial Operations of the Money
Kings..-The General Quota
tons.

CHICAGO, Aug. 2S.-The early news was
Just bearish enough to induce great zeal OF
short selling, and the later news was SUM-
GENTLY bullish to brighten those selling into
buying back their wheat The local receipts
were So cars more than were looked for
There was an increase according to the reg
Mar cable to the board of 100000 blu in
the quantity of wheat and flour on ocean
passage and the weather everywhere was
very favorable to the marketing OF new
grain The Liverpool cable, which quoted
wheat tending higher for spot and future de-
liveries, was the only fresh bullish news in
sight at the opening of change. For an
hour December wheat which opened at 79c
hung between 7Ss4c and 79@79lsc, with the
lower figure the one oftenest quoted. When
the news came in that 274, 600 bu wheat had
cleared from New York, the market shot to
S01sc. The New York clearings OF wheatrep-
resented less than half of the actual exports
These were $4,000 bu from the Atlantic
ports, and $4,000 blu from New Orleans.
With the flour exports reduced to wheat, the
local clearings were 651 900 bu, the largest
export in many months. In addition to this
there were rs, 900 bu taken at st. Louis for
direct export. 1t was given out that foreign
ers were sending selling orders here. This
has been the story for the last two or three
days, and it is beginning to be taken with
little bit of allowance by the local trade
After the buying Juror caused by the export
news was over, December sagged back to
1850. This was its price at 1880. The
wheat market during the last hour was as re-
markable as during the morning. The
smaller class of longs did not dare to stand
their ground and they sold right and left.
This was started by somewhat bearish clos
ing cables Prices melted away as quicklyas
they were piled up early and before the
closing bell December dropped to 7S7sc. or
lac from the bottom. Receipts were 1914
cars winter wheat, 10 cars spring wheat $40
cars corn. and 500 cars corn. Withdrawals
from store were 132, 1874 bu winter wheat,
l,SSS bu spring wheat, 42l, 232 bu corn and
1884 bu oats. Large receipts of corn and
fine weather made prices easier. There was
but small business. Oats were trifie
weaker at the opening and weak and 4c
lower for all futures at the close. The trade
was light There was another good day in
provisions. The feature of The day was the
partial squeeze of the straddlers in mess
pork those who had sold October and
bought January for a month past. One
trader bought fully $4,000 bbls OF October
pork. Last sales were / 212c higher for pork
and without material change in lard and
ribs.
THE QUOTATIONS.
The leading futures ranged as follows;
Wheat-No. september, opened at 77l2c,
closing at 77I2c; December, zoe. closing at
1850; year, 7714c closing at 77Ssc: May,
93c, closing at 93c. Corn-No 2 September
opened at 33a4c, closing at 1850; october
Sac, closing at 33lsc; December, 33l2c clos
ing at 334c. Oats No. September
opened at 1899, closing at 19S4c; Octo-
Der, 20c. closing at zoe: May, 23c, clos
ing at 227sc. Mess Pork (per September
opened at So. S2l2, closing at 50. 50; Octo-
Der, SO. 80, closing at SO. 92l2 January. SO %,
closing at SO. 10. Lard (per 100 lbs)-Sep-
TENDER opened at So. OLE. closing at $500;
October, $500, closing at S5.97l2; January,
So. So, closing at $3.50 Short Ribs (per 100
lbs September opened at S4S5, closing
at IS; October, 81 So, closing at
$4.97l9; January, $4.63, closing at 81. 1922;
Cash quotations were as follows: Flour
firm and unchanged Wheat-No. spring.
Use; No. 3 spring, 70@71c; No. 2 red,
7Sc. Corn-No. 2, 335sc. Oats-No. g 1934c,
Rye-No. 2, 4212c. Barley-No. 2, none.
Flaxseed-No. l, S1.26. Prime timothy seed.
$l.33@l 81. Mess Pork-Per Dbl, 50 80.
Lard-Per 100 lbs, $6O2l2@6.O5. Short
rib sides Qoose), S4.s5. Dry sailed shout
ders(boxed) "a. 62l2@4.75. Short clear sides
{boxedl, $o.i212@5.25 Whlsky-Distllers
finished goods. per gal, S1.O2 Sugars-Cut
loaf unchanged. Receipts-Flour $4,000
bbls; wheat, 16S, GOO blu: corn, 745, 900 bu;
oats, $4,000 bu; rye, $4,000 bu; barley,
1900 bu. hipments-Flour, 1900 bbls;
wheat, 2O3, 900 bu; corn, 449, 900 bu; oats,
$4,000 bu; rye $4,000 bu. On the produce
exchange to-day the butter market was fairly
active and unchanged. Eggs in fair de-
mand at l461IA