St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-04-22
ANOTHER BE1R VICTORY.
ALI Wheat Features Open Lower and
Sink to the Close.
WON'T RISE FROM THE RUT.
Stocks Continue Dull With Little Hope
Of Improvement Provisions
and Produce.

| day than Oh any two days of the week.
The market opened with grand rush
on the part of holders to sell. This was
the event shorts were waiting for. The
day proved lively one for any one who
had to get wheat off his hands, and a
lucky one for those who covered, taking
profits all the way from l to 10c. The
cause of alarm among sellers was
nothing new-superb growing weather
and crop prospects the very highest.
The break in business yesterday gave
the bears time to accumulate, and when
the trade began to-day, high-priced
wheat had few advocates. The open
ing was 23Sc lower for May at SIC, 119c
off for June at s64c, and 11lc off for
July at Sic. This was break enough
for one day, but it was followed by a
sharp decline, which took May to $3.50,
June to Sac, July to S019c. Toward noon
there was rally on covering, which put
May to Soc, June Soc. and July. S136c.
The rally was soon over and still greater
depression followed. May and June
went off to the figures touched early,
while July, after ZigZag movement for
an hour, went off at l p. m. to 7912c
with rally to soc. The action in July,
Sic to S13sc to S019c, to 1890 to S01sc, to
1890 to 1870. The failure of the market
to rally after SO great break was eX-
planned by the fact that the shorts
had covered largely while the
longs were unloading and left
the market weak. Exports of wheat
and flour for the day were about 100000
bushels. Wheat for the week 100000
bushels, and flour 100000 barrels and
sacks. Wheat closed without any sign
of regaining any part of its loss. Re-
ceipts of wheat, IA cars. Corn was
dull and weak, and sold at lower
prices, closing 14@1&c lower. Re-
ceipts, S3s cars. Oats we're active
and weak on heavy offerings. Prices
declined IS to 1-3. Receipts, IA cars.
The provision market was fairly active
early with most of the trading in mess
pork. Ribs and lard changed but little
in price all day. May lard sold at $3.50
and ribs at $685. and s6.O219 closing at
Sc. May pork sold at S11.7O to Sl1.9219
to S1l.S215 at the close.
THE DAYS TRADING.
weather and best of crop prospects had
weakening effect upon holders of
wheat, and the market ruled lower.
The speculative offerings were quite
large. there being some short selling.
but the offerings consisted mostly Of
''lOng" wheat, which holders had be-
come tired of holding for an expected
advance, and which they were closing
out. The interim between Thursdays
closing and tO-day's opening developed
decided weakness, aud opening sales
were made at 21a@3c decline for May
and 1@14c for July, with May selling
than last Thursday, and July sold
off 11sc more and closed 215c lower
than last Thursday. Corn was only
moderately active with the feeling cas-
Ter. Trading was largely local. though
some selling was done for country ac-
count. Transactions consisted chiefly
in transferring May to the more dis
tant months. The market opened &c
lower than the closing prices
OF Thursday, was easy and
sold off re, recovered sc
ruled easier and closed 3s@1ac lower
than Thursday. Oats were active,
weaker and lower prices, declining 80
114c from Thursdays close: reacted
price. The weakness was due to good
receipts, fine weather and the
decline in wheat. May was the weak,
est, being sold freely by tired
local longs and against holdings in in
terror elevators. Shorts were the prin-
cipal buyers. Early in the day trading
was moderately active in mess pork, but
little interest was manifested during
the latter part of the session. Prices
were 7150lOc lower at the opening, but
the demand was sufficiently active to
advance prices 20@2215c. Toward the
close an easier feeling prevailed. and
prices receded 719@10c, and closed
quiet. Trading in lard was unusually
quiet, and changes i'll prices slight.
Prices ruled steady at about 212c adj
vance. 4 quiet feeling prevailed in
short ribs sides. Prices were 215@5c
higher early in the day, but receded
again slightly, and the market closed
steady.
TIE DAYS TRADING.
The leading futures ranged as follows:
Wheat-No. May opened at S5c,
closing at sac; June opened at S6Lic,
closing at S334c; July opened at Sic,
closing at 79a4c. Corn-No. 2 May
opened at 34}@sc. closing at 1880; June
opened at 1870, closing at $3.50: July
opened at 35$4c, closing at 3556c. Oats
No. 2 May opened at 23115c, closing at
2234c; June opened at 2313c. closing at
23c: July, opened at 23Mc, closing at
23114c. Mess Pork (per bbD-May
opened at S11.70; closing at S11.S211a;
June opened at S11.T15, closing at
sl1.9O; July opened at s11.s5. closing at
S11.9715. Lard (per 100 lbs)-May opened
at $3.50. closing at $500: June opened
at $685., closing at s6.95; July opened
at 500, closing at $500. Short Ribs
(per 100 lbs)-May opened at S5.97119 clos
ing at 5000; June opened at S6.05. clos
ing at s6.O5; July opened at S6.10, clos
ing at $6.1219.
Cash quotations were as follows: Flour
dull and unchanged. Wheat - No. 2
spring, S315c: No. 5 spring, 79(0S3c;
No. 2 red. S315c. COrn-No. 2, 34114c.
Oats-No. 9, 221lc. Rye-No. ., 4113c.
Barley-No. 2, none. Flax Seed-NO. l,
S1.5515(01 so. Prime Timothy Seed
81 .360l.3S. Mess Pork. per Dbl, Sl1.SO@
1l.S5. Lard-Per 100 lbs. $500. Short
Ribs - Sides Qoose), S6O65. Shoulders
Dry sailed (boxed), S5.25@5.5O. Short
clear sides (boxed), s6.2596.3715 Whisky
-Distillers' finished goods, per gal,
S1.O3. Sugars-Unchanged. Receipts
Flour. 10000 bbls; wheat, $4,000 bu;
corn, $4,000 bu; oats. $4,000 blu;
rye, 5000 bu; barley, $4,000 bu. Ship
ments Flour, 5000 bbls: wheat, 120,-
GOO bu; corn, $4,000 bu; oats, 1000
bu; rye, $1,000 bu; barley, $4,000 blu.
On the produce exchange to-day the
butter market was weak but not quo
tably lower. Eggs weak at 101ac.