St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-05-29
This LOOKS MORE LIKE IT.
Influences That May Cause a Bull
Movement in Wheat.
FLUCTUATIONS WERE SMALL

FLUCTUATIONS WERE SMALL
But All Sigus Indicate an Upward Fand-
ency.-Stocks Are Less
Active.
Special to the Globe.
CHICAGO. May 2S.-There was quite
change of sentiment in wheat to-day. There
was no sharp move in prices, but the infi-
eaoes causing the upward turn were Oh a
character that may cause general pun
movement here and elsewhere. 1t being
weather market the cold weather was the III
fluence that gave strength. Dispatches re-
. Jrted frost this morning at points Ill In
diana. Michigan and the Northwest while
the temperature in the vicinity OF chicago
was cool enough 10 make the frost reports
seem very probable. The advance was
fought at the start and with the weakness i'll
early futures Oh account of the trade trying
/, ge; ont of May and June, the price OF July
opened steady at 7Gssc, and sold several
times between 76l2@76Ee and 76ss0 .6l2c'
with move up to I6sSc at the
end of the first hour on buying
fot Cudahy At neon the price
touched nc, went off TO 16l2e, ana at
o'clock rested at 76s4c, with the pit duli.
September sold up to 7ll2c and December 10
76i4c or about lie over last night. New
York dispatches indicated that the trade
there was ready to accept bull news and act
on it. Outside of the cold weather there was
nothing significant. Receipts were 81 cars.
New York cleared As, zoo bU OF wheat Ten
minutes before it closed July touched 77ise,
with squirt of activity i'll the pit, but The
strength appeared 10 result largely from COW
erirg bv those who were nervous about being
short. The market closed active at about
outside prices The strength was considered
the result of cold weather reports and at
tempts of shorts to cover. Corn was higher
Receipts were 40 cars less than the lowest
estimate. The expectation is that to-mor
rows receipts will be comparatively light
and there were fears that the frost might
extend into the corn belt. In addition, the
demand for the cash article was good he
ceipts, 1877 ears. Oats were also stronger
fin sympathy with wheat and corn. Receipts
:;54 cars The provision market, If left to
itself would have been extremely dull. The
trade was surprised early by the posted re-
ceipts OF 10000 hogs at the yards, and
break in prices there of lo015c on an active
market. This caused prices on the floor TO
open 7I2c lower for short ribs and lard, and
l5c lower for mess pork. There was no great
change from fist prices all day. July ribs
sold at S5.77la. off to S5.75 back to $780,
and closed at 1915, or Zoe lower. July lard
sold at 500. to Sc. 72latsnd S6.75, closing at
S672l2. July pork, sold at S11 80 to $11.7O
to ST.. so, to S11. 72t2, to Si1.sO at the close.
The estimate on hogs for Wednesday is 2s,-
GOO and $4,000. Hogs at six points to-day.
$1,000 against $4,000 year ago. Armour
d Co. sold products early.
THE DAY TRADING.
CHICAGO, May 2S.-The wheat market pre-
sented a little more life and animation today,
and the volume OF trading was larger than
yesterday. At times, however, trade dragged
Slowly. The feeling was a little unsettled,
opening up firm for July, and sold OF I'M,
mediately i4@ssc, then gained strength ana
gradually advanced 7sc, became easier sell
ing of ss@I.c. rallied, and closed s4c higher
than Yesterday. May sold down and ranged
about the same as June, and both these tut
lires were weak. 1t was easy to obtain cash
wheat, quite lot having been held in ez-
pectation of a corner in May having
come on the market yesterday and to-day:
August, September and December showed
some strength ana closed A07sc higher than
yesterday. The reason given for the appar-
ent strength in these deferred futures is that
market values are now about on legitimate
basis. and operators take in consideration
the low prices and are more disposed to
cover, Influenced some BY, the cold weather
acted in corn. the feeling developed some
what frmer transactions being at slightly
higher price. The market opened at yester;;
days closing prices, was firm and advanced
to ss@lsc higher than yesterday. Oats
were traded i'll moderately, d stronger
feeling developed and prices ad-
vanced ls@Ac. The strength was due to fair
position TO sell. Trading was only moder-
ately active in pork. Opening sales were
made at 15c decline on the close yesterday,
and further reduction of Zoe was submitted
the session the feeling was steadier, and
prices rallied THO Zoe, and closed steady.
little more interest was manifested i'll lard,
and the feeling was easier. Prices ruled 2le
05c lower, and the market closed quiet at
medium figures. Trading was fairly active
in the market for short rib sides, and espe-
cially early in the day. Prices declined 7l2
@1Oc, and the market closed quiet.
THE QUOTATIONS.
The leading futures ranged as follows:
Wheat-No.2 June opened at zoe. closing
At 5se yn a1 ;dsas closing ss at y ne
73c, closing at 74lsc. Corn-No. 2 June
opened at 33ssc, closing at 335sc; July, $3.50,
closing at Sac; August. 34ssc. closing at 34l2c
Oats-No. June opened at lac. closing at
Z.ts JuiS. L-c, ClOSiIS az S~AC. pCptch-
Der closed at 22lae. Mess Pork (per bbD-
June opened at 81. 6212. closing at S1I.70;
July. SI1.SO, closing at S11.SO; August
S1IS0. closing at Si1.S5. Lard (per 100
lbsl-June closed at S6.67l2; July opened at
S612I2, closing at s6.72la; August Sc 80.
closing at S6.77l2. Short Ribs (per 100 lps)
June opened at S5.621a. closing at
August, s5.s5, closing at $3.50. Cash
quotations were as follows: Flour
dull and unchanged. Wheat-No. 2 spring,
T91794c; No. 3, 76c: No. 2 red, 100
79Ac. Corn-No. O. 33tsc. Oats-No. 2,
217sc Rye-No. 2, 3ac. Barley-No. 2,
nominal. Flax Seed-No. l, $1.54. Prime
timothy seed nominal. Mess Pork-Per Dbl,
shor. ribs, sides doose,. s5.es@5.75. Dry
sailed shoulders (boxed), So. 12is@5. 25.
Short clear sides (boxed), S6@6 1919.
WhiSky-Distillers' finished goods, per gal,
$lO2. Sugars-Cut loaf 9A@97sc; granu-
lated, 97sc: standard A, eksc. Receipts
Flour. 10000 bbls; wheat 5000 bu; corn,
$4,000 bu oats. ZIG. 900 bu; rye, 1000
bu; barley, 5000 bu. Improvisation,
1000 bbls; wheat. 10000 bu: corn, 1856. 500
bu: oats. $4,000 bu; rye, 1000 blu. On the
produce exchange to-day the butter market
was firm and unchanged. Eggs firm at l2lac
r. Nj. NEWPORT & SON,
Investment Bankers.
1852, 153, 154 Drake Block. Loan Money