St. Paul daily globe., 1889-06-29
BULLS WORK A BIG BULGE.
Z Tame Wheat Market Develops Into a
Very Rushing Bull
Affair.
Onfavorab!e News From the Northwest
and Abroad Causes Prices to
Advance Sharply.
Financial Operations in the Monetary
Centers---The General Quo
tations.

CHICAGO, June 28.-What started as tame
wheat market this morning turned into very
rushing bull market with materially ad-
vanced prices before noon. After sort Of
climax of strength was reached, about mid.
day, there was slight yield in prices before
] o'clock, but nothing like break. Wheat
took turn upward on bull news very shortly
after the opening. At the start cables were
weak, and outside news was not influential.
On this July started steady at 79l2c, touched
79ssc, reacted to 79&@797sc. and went off
to 1850. December opened at 79ssc. touched
79Ac. went to 79l2c, and rested again at
79ssc. At this point the dispatches and
cable advices began to come in, and they
were bullish almost without exception.
Every house with outside connections had
advices of dry weather and hot winds
in the Northwest. Private cables came a
little better than the first foreign ad-
vices On this sort Of news July went up to
sOssc and December to 797sc. Scond cables
from London and Liverpool said Russian
crops cannot escape the serious damage re-
ported. With this from London came lad
advance in wheat at Liverpool. The bull
news caused hound in prices at New York.
where it was claimed twenty boat loads Of
wheat were engaged for export late last
night. Still more definite dispatches from
Dakota points estimating the crop as low as
45 per cent, and others making the crop for
Dakota and Minnesota no better than last
year came thick and fast. This was enough,
July went up another cent to 81 lsc with
rush, reacted to 8O7sc, went to 91Ac and
yielded to 8Ol2c at l o'clock. December
touched 911sc and fell back to 9O5sc. Sep
tember reached 791B. The whole trade
seemed to be buyers on the bulge, with Linn
and Hutchison prominent Export clearances
were but 80, 900 bus IF wheat and 10000
bbls of -four from Atlantic ports. There was
q furry in wheat just before the close. which
carried July and December both up to S1c
again, and at the close the deferred future
was at Ac premium. Receipts were 81 cars
Corn was dull nearly all day, with signs of
weakness early on large receipts but firm,
steady feeling later on the good cash de-
mand. Receipts were 348 cars by rail and
1900 bu by canal. Oats were firmer and a
trifie higher. Receipts were 1919 cars by rail
and 1900 bu by canal Withdrawals from
store were 5O,21 bu of wheat, 366, ,532 bu
of corn and SO, 147 bu of oats. There was
nothing exciting about the provision market
to-day. There was a fair amount of cash
business, and trading in futures was by
spurts. while prices were generally lower
of 10c in prices at the yards caused first
prices in the pit to be somewhat lower. The
losses from last night were 2l9c in lard, &c
in short ribs and 712c in mess pork.
GENERAL QUOTATIONS..
The leading features ranged as fol1owsi
Wheat-No. 2 July opened at 79hc, closing
ct 9Ossc; August 77Ac, closing at 79c;
September, 77Iac, closing at 79lkc; Decem.
Der, 794sc, closing at S0Bc. Corn-No. 2
July opened at 347sc, closing at 34Ac; Au-
gust, S5Ac, closing ct 35Nc, Eeptember,
B5Nc, closing at $3.50 Oats-No. 2 July
oppel opened Ia at 22aac closing at 224sc; August
ing at 2ossc. Mess Pork (per bbi)-Juiy
ouened at $11.75. closing at $11.75; Au-
gust. $11. IS, closing at $11.s5; September,
$11.95, closing at S12.92Ya. Lard tper 100
1bsl-July opened at $500. closing at
$6.571a; August, laS7ls. closing at Sc. S7gs
Ribs (per loo lbs)-July opened at S.. 50,
closing at S. .95; August, $5.97h, closing at
So; September. Sc. .O2H3, closing at &C. O7ls.
Cash quotations were as follows: Flour firm
and unchanged. Wheat-No. spring,