St. Paul daily globe., 1889-06-17
SCALPERS ARE ALL AT SEA.
Wheat HIGHER, With Old ''Hutch" Very
Liberal Buyer.
A WHIRL OF EXCITEMENT.
Stocks Opened Dull and Lower,
but Prices Closed at an Ad-
vance,.

vance,.
CHICAGO, June 15.-The wheat market was,
in many respects, a continuation OF that FIJI
day. The strength at the opening was sur
prise to those who looked for reaction, and
the later advance completely upset the plans
of the scalping trade. The market was the
same as on yesterday, because the news was
of the same character. Rains continue IN
the Southwest where they are not needed.
and drought continues in the Northwest.
where rains are needed. British cables were
again firm, and prices tending up for spot
and futures. The outside markets were
again in keeping with Chicago, and this en-
couraged many in buying The market here
opened with a whirl of excitement, with
June selling from 7S7sc to 19lsc, and quoted
officially at 79c. There was dip to 1880
7Sa4c, but the price went back to 79c in
hurry, and in few minutes to 79Ac. June
in the same time sold at S1Ac and up to
Slice. The deferred futures were less active
and less strong. September went to
76Ac. New York dispatches gave
the opening of that market very
excited, and July ssc hisheron tine start with
a further advance to S41sc on nervous buy
ing of shorts. Here the action of July was
79@7s5sc at s4c to 79Nc, to 79ssc, to 79sc,
to zoe. to 794c. to 7S7sc at o'clock. 1t was
estimated that Hutchinson bought 100000
bu of wheat during the forenoon, and pre-
dicted that the price would reach soc to-
day. The crowd coppered his talk and sold
after 12 o'clock. Partridge bought heavily
also. There was not the same number OF
buyers to-day. as many shorts have covered
Tba Nv horses
where it is regarded that the advance has
been quite sufficient until something more
like crop scare appears. The wheat mar
ket closed without any change to speak of.
Receipts were II cars. Corn was active and
prices tri1e higher. Receipts were 346
cars. Oats were steady. Receipts, 1873 cars.
Pork was strong and higher, gaining 712@lOc
over yesterday. Lard and ribs quiet and q
trife lower.
ROUTINE REPORT.
CHICAGO, June 15.-Wheat was quite active
again, and nervous, unsettled feehng eX-
listed, with further improvement in prices es-
tablished. but full advance not sustained.
June advanced 1Ac, and closed Sc higher
than yesterday. July opened sSc higher;
further advanced 1hc after numerous f1uctu-
ations, and closed 3sc higher than yesterday.
Deferred futures advanced l2@ssc and closed
from same to 1sc. under yesterday. Local
speculative operations had about as much to
do with the change i'll the market as any
other influences brought to bear on the mar
ket. Crop advices were SO conflicting that
operators could place but little reliance on
them. From some sections in the North
west, referring to Dakota. telegrams were
received stating that while the growing
wheat looked fine. showed no damage, but
rain would be beneficial; others claimed the
crop looking very badly: again other adylces
noted rain, and others no rain at all. From
the West, crop advices continue favorable
and harvesting progressing rapidly. Forelgn
markets were stronger A moderate busl-
ness was transacted in corn early in the ses-
sion, after which the market became quiet
and inactive. The feeling. developed was
comparatively firm. and early trades were at
higher prices, Influenced largely by the
strength in wheat. There was but little do
ing on outside account and transactions
were confined principally to local operators.
July and September received the most atten-
ton The market opened atyesterdays clos
ing prices; advanced 1s@Ac. reacted to in
side prices, and closed about the same as yes
terday. Oats were stronger, and shade
higher. Trading was fair, and chiefly in the
way OF changing contracts from July to Sep
tember. Rather more life was manifested Ill
the market for mess pork. The feeling, how
ruled irregular. Early decline of 1Oc was
submitted to, but toward the close the market
was steadier. and the decline was recovered.
The lard market was Gull and decidedly weak
during the greater portion OF the day. Prlces
declined 212@5c, but rallied slightly. and the
market closed quiet. A fair trade was re-
ported in short rib sides, and there was little
change TO note in prices. Early prices de-
clined 242@5c. Later the market ruled
steadier and q portion of the reduction was
recovered.
GENERAL QUOTATIONS.
The leading futures ranged as follows:
Wheat-No 2 July opened at 7775c, closing
at 79c; August opened at 76l2c, closing at
"a a1o cfv,rr
at 75Bc; December opened at 7sc, closing
at 77I2c. Corn-No. July openedat 344c,
closing at 34Ac; August opened at 34Ac,
closing at 34Ac; September opened at 35lsc,
closing at ,35Ac. Oats-No. July opened
at 22I5c, closing at 22l2c. Mess Pork (per
bbD-July opened at SLIGO, closing, at
s11.621S; August opened at Sa1 ;79' e19s el9s-
ing a1s at s5 Il harS 9pensa per aSo bs
ly opened at $3.50. closing at $6. 57l2;
August opened at $6.65, closing at $3.50;
September opened at $6.75, closing at
S6..72Hs. Short Ribs (per. 100 lbs)-July
opened at s5.s7ls, closing at s5.s7H2: Sep
tember opened at 1896. closing at $3.50;
Cash quotations were as follows: Flour
firm; spring wheat patents, .75g5; 90;
winters, $4.25@4. so; bakers, $3@35
@75c: No. red, 81c. Corn-No. 2, 34c
bid. oats-No. 2 22ssc Rye-No. 2, 39Ac.
Barley-No. 2. nominal. Flax Seed-No. !,
S1.54. Prime timothy seed, $1.25@1. 90.
Mess pork, per bbl, Sll COOL: :65 Lard,
per 100 lbs, $6.5212. Short ribs: sides Qoose).
$5.7O@5 so. Dry salted shoulders (boxed),
Sc. 12I2@6.25. Whisky-Distilers finished
goods, per gal, SlO2 Unchanged.
Receipts Flour, 5000 bbls; wheat. 5000
bu; corn, 223, 900 bu; oats, 100000 bu:
rye, 1000 bu; barley. 1000 bu. Shipments
corn, 165, coo bu; oats, 100000 bu; rye,
1000 bu; barley, 6.OOO bu. On the produce
exchange to-day the butter market was firm;
fancy creamery, 15l2@16c; fine, l5@15l2c;
finest dalries, l2@l3lec; fine, lO@12c. Eggs
firm at 12c.