St. Paul daily globe., 1889-02-21
THE COMMERCIAL RECORD.
Scalpirs by Zig Dealers Causes Slump
in the Price of Nay
Wheat.
Corn Dull, Cats a Trifle Firmer, Pro-
visions Opening Weak and
Declining.
Financial Operations in the Monetary
Ceniers---The General Quo
ati0nS.
Snecial 70 The Globe.

a15Ec limit for May to-day, and closed
15Sc lower than yesterdays close. The
opening price was &c lower for May, at
s1.11. and realizing sales and lack OF
bull support put the price down to
S1.o97s. Then the nervous fluctuations
began. The price jumped to S1.1lI,
went to S1.10X to Sill. to Sl.l04, to
to S1.11]4, to S1.l014, all inside of two
hours, without the transactions in the
pit being anything more than ordinary.
There was talk of the business being
carried out of May into July. The
prices early did not show it, with July
off from 9415c to 94c. up to 951lc, and off
again to Csc. About noon, however,
July took a bulge to 963sc, or nearly 212c
over the bottom price two hours before.
There were few outside orders, and
very many local operators were doing
nothing in the pit, because the market
was too erratic. Outside influences
had no effect. The wheat on
passage decreased for the week
$4,000 bushels to the United Kingdom.
British cables were dull. Among the
principal transactions were the selling
by Linn and buying by Hutchinson
early. Orr and Comes were liberal
sellers. 1t was said Fowler sold 250,0O0
bushels on foreign account. W. f.
Baker had advices of sales of $4,000
bushels to millers at st. Louis. EX
port clearances of wheat were 5000
bushels from Philadelphia. Receipts
here were "a cars, with 35 cars No. 2. of
which 20 cars were Oh special track.
During the last hour wheat eaSed off to
closing prices, which were about the
lowest of the session. Corn was dull
market. The range of prices for futures
was the narroweSt for some time. Re-
ceiptS here were 227 cars, and Ill cars
were billed through. Out of the re-
ceipts there we're 81 cars No. grade.
and but Is cars of No. 4. Shipments
were 10000 bushels. Oats were trifie
firmer to-day, both for cash and futures.
Receipts were 20 cars. Provisions
opened weak and declined a few cents
on further liquidation. After reaching
the lowest figures for the week there
was mild reaction, which left lard
steady, ribs few cents lower and mess
pork about 1Oc lower for the day.
THE ROUTINE REPORT.
CHICAGO. Feb. 20.-Wheat was active,
but nervous and unsettled. The open
Ing for May was 1S@0lc below the clos
Ing of yesterday, and sold off 5Sc more,
rallying 133sc, or 10 yesterdays closing
figure, again weakened, and then de-
clining 119c. and, after some changes,
closed 12sc lower than yesterday. July,
4 1ot> Ia
lower. sold up trit1e, tlien went off %c,
and later became very strong, advanc-
Ing 1]5c, closing about 1c higher than
yesterday. 1t was rumored that some
large houses, heretofore identified with
the 'bull'' side, were selling May and
buying July, the difference between the
two futures being too great. This
movement, however, may have been
done only for the purpose of making a
turn of few cents, and should May de-
cline a little further, a reverse move
ment be again attempted. 1t was ru-
mored that some buying orders for July
delivery had been received from Cali
fornia. st. Louis millers, it was
reported, had bought $1,000 bu of
wheat, and the party who sold
claimed he had inquiries from other
parties for the balance of the lot,
amounting to 10000 bushels. Corn
ruled rather quiet most of the session.
though there were occasional periods of
moderate activity. The feeling devel-
Oped was steady early in the day, but
as the session advanced better feeling
prevailed. There was nothing new of
importance developed, and prices were
governed largely by local influences.
Oats were steadier and higher range
of prices was established, with moder
ately free offerings early. A weak feel
ing prevailed in the market for hog
products. and prices were about as yes
terday, closing steady. Opening sales
of mess pork were made at 715e decline,
which was followed by further reduc-
ton of 10(0121Sc; later the market ruled
steadier, and prices rallied 715(0l0c.
Trading in lard was only fairly active,
and the changes in price were slight.
Short ribs declined 715@10c, but rallied
231@5c.
THE GENERAL QUOTATIONS.
Wheat-No. 2, February opened at
$i.0S, closing at s1061s; March, S1.0s14,
closing at Si.075S; May, Sill, closing at
$1.0955: July, 941sc, closing at $3.50.
Corn-No. 2 February closed at Sac;
March, opened at 351sc, closing at 5414c;
May, 3514c, closing at S5s5c. Oats-No.
2, February opened at 2519c, closing at
259lc; March closed at 26c; May opened
at 275sc. closing at 279zc. Mess Pork
per bbl)-February opened at $l1, clos
ing at Sl0.95; March, S11, closing at
BOSS; May. S11.171l5, closing at $11.O5.
Lard (per 100 lbs)-February opened at
$3.50, closing at $3.50; March, $3.50, clos
ing at $6571S; May, s6.65, closing
at s6.7O. Short Ribs (per loo lbs)1
February closed at $5.7215; March
opened at S5.70, closing at $5.7211a;
May opened at S5.95. closing at $3.50.
Cash quotations were as follows: Flour
firm and unchanged. Wheat - No. Q
spring, $l.06ssGI .06Y; No. 8 spring,
nominal: No. red, $1.063s@l Corn
No. 2, 34c. Oats-No. 2, 25&c. Rye
No. 2, 1880. Barley--No. 2, nominal.
Flax seed-No. l, Sl.57. PRIME timothy
seed, s1.42@143. Mess pork, per bbl,
FL. Lard, per 100 lbs, S6.55@6.5711S.
Short ribs sides Qoosel, $5.75@5.90.
Dry salted shoulders (boXed), $500
5.6215. Short clear sides boxed), 500
6.1215. Whisky-Distillers finished
goods, per gal. Sl.03. Sugar-Cut loaf,
unchanged. Receipts-Flour, Il, 900 bbls;
wheat, 5000 bu; corn. 245,0e0 bu; oats,
175,OO0 bu; rye, 5000 bu; barley, $1,000
bu. Shipments-Flour,7 Z. 900 bbls; wheat,
10000 bu; corn, 115,000 bu; oats, $4,000
bu; rye, 1l,000 bu: barley. $4,000 bu.
On the produce exchange to-day the
butter market was unchanged and eggs
weak; l3@l31ac.
- as NrxMoo1- e@N