St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-04-05
SOMEBODY WAS SELLING.
Nay Wheat Cuts Funny Capers Which
Puzzle the Knowing Ones.
UNACCOUNTABLE FLOPS.
Sharp Changes Followed by a Swift
Drop---Stocks, Provisions, Dry
Goods.
Special to the Globe

Special to the Globe.
CHICAGO, Ill.,, April 1.-The action of
the wheat market to-day was in some
respects the most remarkable for many
weeks. Many regard it as practically
the end of the May deal, while others
think the clique still under it. If the
gossip is anything like correct a second
airy clique, composed largely of the He
brew element in the trade and headed
by Bloom, will be the victims of the
present collapse. When the market
opened with May 11ac higher at 9714c,
Bloom was a buyer, and some shorts
also bought. The prices started and
reached the high point of $3.50, with
Bloom bidding. The old bull clique let
20 wheat and prices started down.
Baker sold on the way down.
Brokers of the Fairbank clique sold
also. The shorts who were not already
satisfied got wheat as the price dropped
down 4@15c at a time. About noon
May touched Csc, nearly &c from the
top. After noon there was slight ad-
vance on good buying. Bloom is said
to have about 100000 bu May, and the
trade regard him as not likely to con-
tlOl MAJ hCG 40 l. Jain anu
insOn have done. June ranged between
9334c and S9$lc. July between S71sc and
S55sc. The prediction is that June will
sell at premium over May very shortly.
The action was purely local. At New
York, st. Louis, Detroit and Duluth
prices were little changed. British
cables were bullish if anything. Clear
ances Of wheat and flour were fair at
New York, and twelve loads were
taken for export. Receipts here
were eighty cars. Corn was firm, and
values did not fluctuate much. Re-
ceipts 344 cars. Oats were quiet and a
shade firmer. Receipts, III cars. The
provision trade was dull to-day and
prices were the narrOwest for some
time. Prices opened about steady.
with ribs 21505c lower than last night
The range for the day for May con-
tracts was as follows: Short ribs, S6.15,
closing at 1920. Lard, $685., closing
at 81. Mess pork. S1215, closing at
$3.50. Receipts at six packing points
were 31,700 against $4,000 the same day
last year. Packing for the week esti-
mated at 10000 hogs against 100000
last year.
THE DAYS TRADING.
CHICAGO, April 4.-Whatever the
opinion as to the future market, there
was one thing certain, and that was
that somebody was selling wheat very
freely. Trading was quite active, and
the feeling unsettled. Prices. although
reaching higher range early, finally
went down with rush. May wheat
opened firm, and soon sold at figures
naNlv- Az 81, lorys al
then started off, declining rapidly, and
reached a figure CSC below the top
prices paid early, and closed about
25sc lower than yesterday. 1t is i'm
possible to give any reasons for
these sharp changes other than manip-
ulation and the changing of views of
spectators on the possible doings of
some of the larger traders. Consider
able interest is manifested in May, and
the trading evidently puzzled operators
more than ever. July opened firm and
advanced PC, then declined under rather
steady offerings to sell, and prices re-
ceded H9c,ruled steady and closed about
Ne lower than yesterday. Corn ruled
rather quiet most of the session,
though there were periods of
temporary activity. The prevail
Ing feeling was one of firmness. The
market opened at yesterdays closing
prices. was steady for time, then be-
came easier, declining 15@14c, recov-
cred, ruled steady and closed a shade
higher than yesterday. A firmer feel
ing developed in oats, and a large bust
ness transpired. There was less press
ure to sell, and the buying by several
large houses caused an advance of &c.
a slight recession followed the
appreciation, but the close was
quiet at nearly the same as yesterday.
Less business was transacted in mess
pork than for several days past. Open
Ing sales were made at 5(0715c decline,
and further reduction of sc was sub
mitted to later, the feeling was steadi
and prices rallied 15@l71ac, but were
not fully supported to the close. Very
little was doing in lard. Prices were
without material change. A compare
lively light trade was reported in short
ribs and the market was easier, prices
about 21ac lower, closing quiet.
THE QUOTATIONS.
Wheat-No. 2 May opened at 971lc,
closing at $3.50 June opened at 9314c,
closing at 9Oc; July opened at
at 791lc, closing at 7s5lc. Corn~No.
May closed at Csc; June opened at
See, closing at Soc; July opened at
$500, closing at 5000. Oats-No. 2
May opened at 2519c, closing at 255Sc:
June, opened at 253Sc. closing at 25llc;
July opened at 25c, closing at 25Ic.
Mess Pork (Der bbl)-May opened at
S1220, closing at $12.35; June opened at
S12.25, closing at S12.35; July opened at
$3.50, closing at S12.4215. Lard (per
100 lbS)-May opened at $685., closing
at 81; June opened at 81, closing at
S7.021a: July opened at S7O215, closing
at S7.0715. Short Ribs (per 100 lbs)-
May opened at S615, closing at $500:
June opened at $500, closing at 1925.
July, opened at S6.27c, closing at $50.
Cash quotations were as follows: Flour
nominally unchanged. Wheat-No. 2
spring, 92(99214c; No.. 3 spring soc; No.
2 red, 9299214c. Corn-NO. 2, 35c. Oats
No. 2, 245sc. Rye-No. 2, 43c. Barley
Nominal. Flax oeed-No. l, S1.52.
Timothy Seed-Prime, 81. 33(01 .35. Mess
Pork-Per Dbl, S12.2O@12.25. Lard
Per 100 lbs, S6.9596.971S. Short Ribs
Sides Qoose) S6.1506.20. Shoulders
Dry sailed (boXed), S5.5O@5.75. Short
Clear sides (bOXed), S6.5O@6 621S.
Whisky-Distillers' finished goods.
per gal. S1.03. Sugars-Cut loaf, S$S09c:
graduated, S1Sc: standard s'A,' 75Sc.
Receipts-Flour, 1,0OOb bls: wheat, 90.
ZOO bu; corn, $4,000 Blu: oats, 117,OOo
bu: rye, none; barley, 10000 bn. Shin
ments = Flour. 1000 bbIs; wheat. g.
600 bu; corn, 10000 bu; oats, 81 900 bu;
produce exchange to-day the butter
market was firm; fancy creamery, 24@
25c: choice to fine, 2l@23c: fine diaries,
20(q21c; good to choice, 1S(920c Eggs,
quiet, 10@1019c.