St. Paul daily globe., 1889-10-22
TWO MILLION BUSHELS.
Heavy Increase in the Visible Supply
of Wheat.
THE MARKET DROPS A BIT.
Good Speculative Trade in Gorn-''Tne
Stock Market Active, but
Weak.
THE MARKET DROPS A BIT.

cUIoAGo. Oct. 21-Wheat-Rather large
trading III a speculative way, and the market
ruled weak and lower. The speculative otfer-
ings were heavy, and prominent local
trader was reported 10 have sold 1.OOO,OoO
bushels with other traders selling moderate
quantities. But, with all the influences
brought 10 bear on the market prices suffered
q decline of only Ic for December and s4c
for May Fair buying prevented another
break, shorts" covered freely, and there
was also some buying from other sources at
the bottom, evidently in expectation OF q re-
action following so large break. and some
on the prediction of smaller receipts. The
onening was weak and Is@Ac lower than
Saturdays closing, held for little whlleand
later broke off 7Sc more for December
and 6sc for May. Then it became stronger
and recovered slightly, but closed easy ana
about s4c lower for December ana SIC lower
for May than the closing figures of Saturday,
Il viii be noticed that May dld not rule rs
weak as the December future. and the pre-
mium was widened from 2ssG3s4c SATURDAY
70 3G3lsc today. The principal feature OF
weakness was in the visible supply. An in
crease of about 500. 900 bu had been ex-
pected. butwhen the figures began TO indi-
cate an increase of over :, 100000 bu selling
became general. The final figures showed an
increase of 2.2I2,GOO bu. 4 great deal OF
"long'' wheat came on the market. The in
crease was at Minneapolis, Duluth, Buffalo,
Chicago, and on the canal.
CORN.
A good speculative trade was witnessed IN
the market to-day and the feeling developed
was weaker, lower prices being the rule all
round. The chief weakening influence was
the free offerings by prominent local spec
ulator. whose sales probably reached in the
neighborhOod OF l.500,0Uu bushels, chiefly
May and November. A very good demand
existed for May around 32s4c, and several
short lines for the other futures were Gov
cred to-day. The market opened at about
Saturdays closing prices, was weak and sold
off I2c, rallied ls6114c when the visible was
made known. showing q decrease in the
amount in sight of L, ,122 900 bu; ruled
steady and closed Is@Ac lower. Oats were
depressed Ac by the weakness in
wheat and large receiDts. The visible
supply also increased 56S,000 bu.
Trading was active. One large opera
tor, who was heavy buyer last week. selling
freely. Several operators also bought May
early, but reSold at the decline. The depres
sion in the near futures was the most
marked, October delivery to 277se. Later,
May became stronger, most of The decline
being regained. Mess Pork-The market at
tracted very little attention. Offerings were
comparatively light, and the demand was
limited-confined to filing a few shorts.
Prices exhibited very little change. Lard
More strength was developed, but the trading
was only moderate. The belief prevails that
the market is Oversold for October delivery
and the inquiry in a quiet way tended to
confirm it. Prices were advanced 5l7I2c on
October. while other deliveries were strong
at 2l205c advance. Short Rib Sides-Trad
Ing was somewhat limited, and the feeling
easier. Prices ruled about 2i.c lower, and
the market closed quiet
The leading futures ranged as follows: