St. Paul daily globe., 1889-06-08
THE BULLS ARE ON TOP.
Unfavorable Crop Reports Cause Ex-
citement in the Wheat Pit.
ALL FUTURES CLOSE HIGHER
The Stock Market Was Less Active
and Without Important
Features.

Cu1cAco. June 7-There was well sus-
taiued market in wheat most OF the ses sloh'
with more than usual activity at tmes.
slight turn in prices, either up or down,
would enliven the pit, and it is evident that
there is want of confidence in the dealings
of bulls as well as bears. 1t was an hour pe-
fore the close that July wheat touched lhe
closing price of Wednesday, 16Ac, or lee
over the close last night. The market early
was weak July started at 7o7sc, touched
76e for a few trades; went Oft to ioesc'
rallied TO 75as@ 7o7Sc; went again 10 'ossc'
and, as stated bulged to 7614c shortly a1ter
noon. The market was largely scalping
one during the forenoon, but later IN the
day there was buying which indicated falth
in the wheat. The seaboard closed about
l75.OOO bushels of wheat and Du-
luth showed 100000 bushels shipped,
with but little or no receipts.
Receipts at principal points were lA',ooo'
while shipments were 46O,ouo pusnels.
Early cables were weak, with spot aud fntures
tending downward. Receipts here were put
2S ears with but 20 ears estimated for Sat
urday. The wheat market of the day was
made the last half hour of the session. The
official crop figures from Ohio and Missouri.
showing a loss of 1@6 per cent. in the conol-
tlOn or ueluS IN tnOSe StdteS, ustu puiiiSii ~
feet. Mitchell was the most extensive buyer
taking about 500, 600 bushels III a short unle
This started other shorts, and the market
was exciting and advancing to the very close.
,Julv moved from 761 to 77lsc, the highest
and closing price. i'll about twenty minutes.
Corn was dull. and the range of prices mar
row, Oats were quiet, but shade stronger
and closed a trife higher. Provisions were
stronger.
ROUTINE REPORT.
CHICAGO. June THE wheat market pre-
sented more animation, and the feeling was
rather strong with steady appreciation IN
prices most of the session. July opened ls0
14c higher and advanced with slight changes
lIse more. ruled strong and closed 1Ssc
higher than yesterday. The strength was
attributed to advices which would indicate
that the next government report will make
less favorable show ng than last month.
This, together with Il e ra-her larger export
clearanees and reportec exp 'rs buying at
the seaboard to-day. wiz: in 'ications that
the visible supply will SHOW a liberal de-
crease again this week, caused prices to ad-
vance The weather bulletin showed rain
in the West and Northwest clear and bright
weather would be more favorable. Shorts
took alarm at the action, OF the, market
and bought quite freely, and there
was also some investment buying. Around
76 for July local trader sold rather freely
mand was active and all offerings being alb
sorbed. the market passed and held above
that figure Corn ruled quiet and inactive.
with the exception of a short time after the
opening, trading being limited to room oper-
ators. The feeling developed on the whole
was tritle firmer The market opened at
Yesterdays closing prices, fiuctuated within
A@ssc range and closed Ac higher than yes
tercav. Oats were quiet and shade easier
early. but later became steady. While there
oh, fn in q
products. the feeling was rather firm. and
prices averaged higher for the leading specu-
1ative articles. There was no pressure to
sell and the demand was only fair, with short
rib sides attracting most attention OUTSIDE
prices were not maintained. though the close
exhibited considerable stead1ness.
GENERAL QUOTATIONS.
The leading futures ranged as folio ws:
Wheat-No 2 July opened at 757sc, closing
at 77lsc; August opened at 74Ac, closing at
75Ac; September opened at 74l2c. closing at
753Sc; December opened at 76c, closing at
771sc Corn-No. 2 July opened at 34c,
closing at 34Ae: August opened at 34l2c,
closing at 345sc; September opened at 34Sc;;
at 22i4c. closing at 22Ac; August opened at
22Ac, closing at 22Ssc; September opened at
22Ssc, closing at 22Lac, Mess Pork lper bbD
July opened at tS11.S0, closing at S11.s2l2;
September opened at ,$12. closing at
Sl2 Lard, (per 100 lbs)--July opened
at Sc. 7el2, closing at Sc. 72l2; August opened
at $3.50, closing at Sc. so; September opened
al S6.s5, closing at Sos s5. Short Ribs (per
100 lbs)-Inlg ~ ~ opened at s5.s1h, soa clos
S5.92l2, closing at ,s5.97ls; ssepttsemr-
Der opened at Sc, closing at s602H2.
Cash quotations were as follows: Flour
firm and unchanged. Wheat-No. 2 spring,
z88s4e; No. spring. gs.. CSC; No: 2 red
217s@22e. .Rye-No. 2, 3s@3sAc. Barley
No. 2, Nominal. Flax seed-No. !, $l;54
@155 Prime timothy seed 81 .2O@1.22.
Mess Pork, per bbl-Sl1.sO@11.S .S5. Lard,
per 100 lbs-S6. .665@667l2. Short ribs;
clear sides (boxedj. Sc. 12ls@6.25. Whisky
-Distillers' finished goods, per gal. S1.O2.
Sugars-Cut loaf, 9ssG11Oc: granulated, 9c;
standard a. sac, Receipts-Flour, IL
600 bbls: wheat, 10000 bu; corn, 29s, 900
bu; oats. 49, 200 bu; rye, 5000 bu; barley,
1000 bu. Shipments-Flour Is, 900 bbls;
wheat. 10000 bu: corn, 413,OO0 bu; oats,
$4,000 bu; rye. 6OO0 bu; barley, 1000
bu. On the produce exchange to-day the
butter market was weak; but unchanged.
Eggs steady at 10c.