St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-05-28
SLUGGISH SPECULATION.
Chicago Wheat Market Dull, With MAJ
row Range Of Prices.
DULUTH is IN SYMPATHY,
And There Is No Apparent Effort to
Trade or Advance Prices---St0Cks
Active.
Special TO the Globe.

Special to the Globe.
CHICAGO, May &-The wheat market here
the greater part of the session was good Tor
IL or lac for scalpers. but outside OF this 1t
had little significance. At 1 O'Clock the
price of July touched 76sSe, and the pit was
excited for the first time during the day.
Perhaps this was because the touching of
that figure completed the Ice fluctuation up
to that hour. July started at I6A@16sSc,
touched T6l2c, moved up 10 16s4c, OF to
76lsc, I'D to 767sc, off to 73SSc up to 76s4c,
and off to 76Ssc as stated. There was even
less action in other futures. There was little
TO cause any decisive action and just now
the trade is hating between low prices and
big crops, and afraid to do anything without
an influence to back them The visible sup
ply decreased trifie over 100000 bushels,
as expected and had no effect. New York
wired that there was really no live market
there The best prices of the day were
reached on buyingen the strength of the first
dispatches from Northwestern points. The
stock of wheat has decreased POI 900 bu,
and now is ). 242, OG0 bu. Hutchinson was
buyer early at 76l2c, which point was touched
several times and not passed until near the
close. Receipts here were 33 cars. The best
business of the day in wheat was during the
last nail uOur. With lIe ludIhct pIohc uiiuSi
free selling In spite of the fact that receipts
were much smaller than were locked for, and
that there were free shipments, the corn
market weakened. The prospect of very
large receipts tomorrow and henceforth. to-
gether with the excellent weather and crop
prospects, were the depressing influences.
Receipts were l, 124 cars. Oats were weak
and closed ssc lower than Saturday. Re-
ceiptS were 301 ears. Trade in provisions
was moderate in volume. The only promi-
nent feature in the market was sharp little
bulge in pork, engineered by the scalpers
who took advantage of the little upturn i'll
wheat, and the necessities of the shorts, and
bid the market up. July pork, which opened
at Sill S2l2, was bulged to So. TO- but it
afterwards reacted to Sl1.95, when the early
buyers began to realize. Pork closed 100
l5c higher, lard about steady and ribs so
7l2c higher.
THE ROUTINE REPORT.
CHICAGO, May 27.-Wheat was dull to-day:
The opening for July was shade easier and
advanced ssc declined ssc, which was the
entire range for the day. and closed sSc
lower. Domestic markets are all quiet. The
visible supply showed decrease OF 1.O5S,-
900 bu. Last year the visible supply was re-
duced to 21,6SO.000 bu in July. The pres
ent stock is the smallest since 1884. Crop
advices continue favorable, though from
some points in Illinois reports of damage to
crops by too much rain is heard. The
weather map noted cold weather in the
Northwest, with frost at Minnedosa.
European crop advices continue favorable.
The weakness in the market late IN the SEES
sion was due to the break in June. for
which there appeared to be no demand, and
ported in corn early in the session.
after which more quiet feeling
prevailed. The feeling was com
parativelly steady. though slightly
opened at about the closing pricess of Sat
urday and gradually sold off 1sMAc. became
quiet and steady. closing shade lower than
Saturday. Public cables were unchanged
and lower on large arrivals and the weakness
in corn. Prices declined 4@Ssc, and closed
al inside figures. A fairly active trade was
reported in mess pork ana the market was
stronger. Prices were advanced 25@21l2c
early in the day, but settled back again 1919
@15c, and closed comparatively steady.
Very little business was transacted i'll lard,
and the market ruled steady. Prices We're
little more favorable to sellers early, but
ruled weaker later, and closed lower. Rather
more business was transacted in short ribs.
and the feeling was tirmer. Early sales were
made at 2I2c advance, and further i'm
provement of 2l215c was gained later. To
ward the close prices receded Slightly, and
APPROPRIATIONS.
The leading futures ranged as follows:
Wheat-No.2 June opened at S0lac. closing
Mt 79c; July. 76l2c, closing at 76Ac;
August. 71c, closing at 73l2c; year,
closed at 727sc. Corn-No. June closed
at 334e; July opened at 335sc, clos
ing at 33ssc: August, 34Mc. closing at 341sc.
Oats-No. 2 June opened at 22c, closing at
2ls4c; July, 22ssc. closing at 22lsc: Au-
Pork per bbD-June opened at Sll so clos
ing at S1l.S5; July, Sl1.S2l2 closing at
Sl1.95; August, S11.90. closing at Sl2.
Lard (per 100 lbs)-June opened at 1913,
closing at S6.7212: July, $3.50, closing at
Sc. 77l2 August, So So. closing at Sc. S2I2c.
Short Ribs (per 100 lbs)-June opened at
$50, closing at $5.72la: July $3.50. clos
ing, So S212; August, $5.S7l2 closing, $500.
Cash quotations were as follows: Flour
steady and unchanged: Wheat-So aspiring
59l2Q soc; No. 3, nominal; No. red, 7slA@
21ss@21Ac. Rye-No. 2, see. Barley-No.
2, nominal. Flax Seed-No. 1, $1.54. Prime
timothy seed S1.27. Mess Pork-Per Dbl,
S11. S7I2@11.95. Lard-Per 100 lbs. S6.724a
@6.75. Short ribs, sides Qoosel. So. 700
$50. Dry sailed shoulders (boxed), o.12h
@5.25. Short clear SIDES iboxed), Sc.
GEES. Whisky-Distillers' finished goods
ceipts-Flour, Is, 900 bbls: wheat, 90, 900 bu;
corn, $4,000 blu; oats. 241, 900 bu; rye,
1000 bu; barley, 1000 bu. Shipments
Flour, IL 900 bbls; wheat. $4,000 bu; corn,
10000 bu: oats. 100000 bu; rye, 5000
bu; barley, 1000 bu. On the produce ex-
change to-day the butter market was firm
and unchanged. Eggs firm at 12l2c
r. M, NEWPORT E. SON.