St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-07-17
STILL ON THE DOWN GRADE
Only Moderate Trading in Wheat and
Lower Range Of Prices
Established.
Corn Declines in Sympathy, While Oats
Advance Sharply and Close
Higher.
Financial Operations Of the Honey
Kings--The General QUO
tations.

( CHICAGO, July 16.-The wheat mar
ket was very irregular. both in the mat
ter of price and general features OF the
trading. Near the opening the price
was steady to firm, and the trading of a
slim, scalping character; later it was
still dull. but the price very weak,
which was succeeded by lively rally
causing recovery from break OF l
cent, which had previously taken place
and left the price of September wheat
at the same point as on Tuesday, SS1ac.
The weakness arose from the weather
conditions at home and abroad, which
were generally favorable to the crops.
In addition to the prospective plenty
was the fact of the apparent lack of de-
mand from abroad, as indicated by the
very light clearances from Atlantic
ports. Neither New York nor Baltimore
has shipped any wheat or much flour for
two days. and the cable reports OF for
eign markets were not suggestive of
shipments from this country being ur-
gently needed in the near future. Liv-
erpool was quoted dull and easier, and
the weather in England was described
as brilliant. A similar condition of
mercantile affairs and climatic condl-
lions was also reported from the Eu-
ropean continent. The reports from the
Northwest were generally to the effect
that considerable damage had been done
to wheat from rust and blight, but Opin-
ion here appears to have been made up
to the fact of such injury being local
and insufficient to prevent the harvest
ing of an excellent crop of spring
wheat. The market opened at $500
for September. and for some time
fuctuated within &c either way of that
price, but began to droop slowly at first.
then more rapidly, until S71ac was
reached. At the latter figure there was
good buying. which was stimulated by
the receipt of the Farmers Review re-
port of unsatisfactory returns from the
threshing of winter wheat in several
states. A rapid advance followed,
bringing prices back TO about the OPEN
ing figures. Corn was fairly active. but
weaker on the fact of cloudy weather
being generally reported as prevailing
over Nebraska. Iowa and Kansas, with
rains predicted by the signal service
for those states. The July future had
the lead in the Oat market, although it
showed comparatively small amount
of business. The shorts suddenly con-
cluded to cover, and rushed the price
up from 1880 on the opening to 311ac,
where it closed. Futures were also
strong. but closed only 4@5sc higher.
The provision market was very weak at
the opening, and ruled so during the
greater part of the session. The heavy
receipts of hogs, both here and in the
West generally, were the cause assigned
for the weakness. Toward the close
lively rally was occasioned by the re-
port that some buying orders on the
market had been received, acting with
the intelligence that Germany had re-
moved the embargo upon American side
bacon. The close showed. however, a
slight decline since yesterday.
The leading futures ranged as follows: