St. Paul daily globe., 1889-03-08
FUN FOR THE PLUNGERS.
Wheat Unsettled---Lively Buying Runs
Nay Up to s1.04---Glosing Steady.
ACTIVITY IN PROVISIONS
A Dull Day in the New York Stock
Market---Range of
Prices.


ket was unsettled enough to-day tc
satisfy the greatest of plungers, and the
advance was some comfort to the bulls.
The tactics of Hutchinson and others
on the curb excited the pit at the open
ing, and first sales were all the way
from S1.O215 to Sl.03, At Sl.0S the first
heavy trading was done, and Linn
dropped 100000 bushels to Baldwin.
There was good buying all the way up
to S1.031S, when a turn let the price OIL
to 81 1.O3 again. After the pit had quiet
hour with May around S1.0314 there was
q second bulge started and the fellows
who wanted wheat put the price to
S1.04. This was followed by reaction
to S1.0312 and another rally to Sl.03Ja
before / p. N. The close was fairly
steady. June sold between s7$l and
9S115c, and July between 500 and 9O1ac.
The eaIly buying by Baldwin and Far
mum was credited to Hutchinson, who
was thought to be realizing through less
conspicuous brokers. Receipts ofWheat
here were 76 cars, with but ~ cars for
Friday. The interest in wheat was less
than usual because of the activity in
pats and provisions. Primary receipts
Of wheat were 2O6, 900 bushels. The only
wheat cleared at Atlantic ports was
about 10000 bu from Philadelphia. Dis
patches reported fair foreign demand
at New York. There was a big trade
in corn. The shorts in the May. June
and July futures were covering freely.
A good portion of the shorts were
frightened at the higher prices for cash
corn and the large export orders. Re-
ceipts were 249 cars. For an hour the
oat pit was the most conspicuous on the
floor. The heavy holders were appar-
emily demoralized. The covering of
nearly 100000 bu of short oats yester-
day did not cause an advance, and it be-
came the general opinion that the syn
dicate was unloading. This idea was
strengthened by the sale of about 600,-
600 bu by their brokers. May oats sold
to 2615c. Receipts o. cars. Provisions
opened firm and higher and advanced
several points. Shortly before noon the
the Price Current estimated that the
packing of hogs last week was more
than 10000 head greater than for the
corresponding week (estimated) last
year, started a break which was assisted
by realizing sales and the raiders. Pork
declined about 45c from the highest
point today; lard 10(@15c and ribs 1711Sc.
THE RECORD OF THE DAY.
CHICAGO, March IA far business
was transacted in wheat, and the mar
ket recovered somewhat from the re-
cent decline. May delivery sold TO a
point 2175c higher than yesterdays clos
ing. and closed about 15sc higher. Most
of the trading centered i'll the May fut-
ure, and there was pretty good buying,
which forced the 'Short'' interest in.
One large trader bought freely at the
inside figures of the day, and was also
credited with having been a large pur-
chaser yesterday, but at the advance of
to-day sold put fair quantity. For
July the market ruled rather quiet, and
after selling to point 1c above yeSter-
about nc higher than yesterday. Corn
ruled fairly active with the feeling
stronger in sympathy with wheat and
provisions. Trading was more active
than for some days past, there
being more doing on outside account.
The market opened firm at yes
terday's closing prices and gradually ad
vanced to 15c,eased Off &c, ruled steady
and closed &c higher than yesterday.
Oats were active, but weak and lower.
Prices for May declined &c. rallied a
@3sc, but receded 1sc, and the market
closed at sc below yesterdays last
sales. A very brisk trade was reported
in mess pork. Early in the day the
market was stronger and sales were
made at 10@12112c advance, and follow ed
nv furtbpr annrnpiafiOp Of r1[LG10a
Later the market weakened, with free
offerings, and reduction of 374@4Oc
was submitted to. From this point
prices rallied 10@121ac, but soon weak
ened again, and a reduction of 30(G32115c
was reported. Toward the close the
market was Steadier, and prices ad-
vanced 21s(05c, and closed rather quiet.
A weak and unsettled feeling prevailed
in lard during the greater portion of the
day, and a material reduction in prices
was submitted to. The close was tame.
Short ribs were active and irregular,
closing quiet and lower.
TIE DAYS QUOTATIONS.
The leading futures ranged as follows:
Wheat-No. March, closing at S1.OO% :;
May, S1.02115, closing at S1.0315; June,
9S14e, closing at 978c; July, soc, closing
at S9Mc. C0rn-No. 2 March, opened
at 35c, closing at S57Sc; May, SIC.
closing at 3611sc: June, 3555Sc closing at
35%c. Oats-No. 2 March opened at
25Hc, closing at 254e; May. 271sc,
closing at 265sc; June, 265sc, closing
at 2636c. Mess Pork (per bbll-March,
closing at S1L.70; May, opened at
S12.3211s, closing at s11.90: June, closing
at S11.971a. Lard (per 100 lbs)-March,
opened at S6.921a, closing at $6.S719 !:
May, $40, closing at s6.92115; June,
$7.l0, closing at 81. Short Ribs (per
100 lbs)-March closed at S6.15; May
opened at S6.40, closing at s6.45; June.
S6.4711z, closing at $3.50. Cash quota
tions were as follows: Flour quiet and
unchanged. Wheat-No. . spring,
s1.OO14@01. 1.e02l; No. spring, S4@91c;
No. 2 red, Sl.001I@1 002. Corn-No. 2,
35c. 0atS-NO. 2. 25Ic. Rye-No. 2,
42c. Barley-None. Flax Seed-No.
1, S1.4S. Timothy Seed-Prime. S1.4O@
1.43. Mess pork, per bbl. s12.05@12 10.
Lard, per 100 lbs, s6.9006.92115 Short
ribs sides Qoose). s6.1506.25. Dry salted
shoulders (boXed), S5.2505.3715. Short
clear sides (boXed) J, sc. .5o016.621S. Whisky
--Distillers' finished goods, per al,sl.O3.
Sugar-Unchanged. Receipts-Flour,
11,000 bbls: wheat, 200 bu; corn, no.
000 bu; oats, 10000 bu; rye, 5000 bu:
barley, $4,000 bu. Shipments-Flour
1000 bblS; wheat, $1,000 bu; corn, Co.
900 bu: oats, $4,000 bu; rye, 1000 bu;
barley, 10000 bu. On the produce eX-
change to-day the butter market was
steady and unchanged. Eggs un-
clanppd