St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-04-11
HEAVY OPERATORS UNLOAD
Extensive Sales of Wheat for Future
Delivery Cause a Break in
Prices.
There Was a Net Loss of Nearly a
Cent From Wednesdays
Close.
Financial Operations Of the Money
Kings---The General Quota
tons.

CHICAGO. ILL.,, April 1O.-The wheat market
repeated its action of yesterday during the
morning by opening very strong, and after
further slight gains selling off quite sharply
before noon. The reaction was more than
sufficient to wipe out the early advance. and
before o'clock there was recovery which
put prices of all futures to about the closing
points yesterday. The market was broad
one. and the changes almost violent at times.
A few large operators were kept track of. but
individual trading was largely lost sight Of
in the enormous general business in the pit
Liverpool cables were led up for futures,
with spot wheat steady. The strength in fu-
lures was considered but reflex Of
the strength here yesterday, and did
not lead to any bull feeling. The
anticipation of the government crop figures,
due late this afternoon, had an exciting
effect all day. 1t was Tumored that the con-
dition will be given out at 90 The Indian a
crop news continues to be of a sensatio nal
sort, and there was good buying on this.
New York and Baltimore cleared 10000 bu
of wheat and about SO, 900 bbls of flour.
Later it was reported that New York was
loading eighteen boats for Lisbon, but that
the wheat was taken some time ago. New
Orleans reported 100000 bu Of No. 2 red
this market the attitude of the leading trad
ers early was much like that of yesterday
Ream, Cudahy and Hutchinson were early
sellers. Ream's heavy selling had much to
do with the decline, and many small operat-
ors sold out. Later in the day Hutch
inson was buyer. The action of the lead
ing futures up to l o'clock was as follows:
May opened at e3c, sold at S31Ac, off to SPA
to sole to SIC to S2&c; June, S39sc, off to
925s to $3.50, off to $3.50 and up to S3lsc;
July opened at 80 C, sold at s2ss to 81A to
715s to 81 10 S1s4c. The wheat market was
heavy before the close. The sunshine, the
doubt about the crop figures and the loaded
condition of the trade caused some caution
and general selling. May went off to S21s@
s2Ac, and closed at S2Ac, or Sac lower for
the day, Receipts were, wheat, 20 cars /;
corn, 251 cars; oats, 149 cars. Shipments:
wheat. 262, 400 bu; oats, 2S7,313 blu. Corn
unsettled, weak and lower. The receipts
were about forty cars less than expected, and
the grading very poor, but the weak
feeling in wheat made corn heavy. and
there was falling off in the demand. while
realizing sales were large, and more than the
market could stand without breaking. The
longs who bought at the late low prices seem
generally disposed to take in their profits,
dLu Guo SuOTL3 bccul pIcllf WCll
Trade, while liberal, was less active and less
excited than yesterday. Oats were fairly
active but weak and lower. May sold early
at 24Ac and July to 241sc, but on free sell
ing and only moderate demand, together
with the weakness in other grains,
became heavy, and May fell gradually
to 234c and July 23c. The provision
trade to-day was large before the close and
prices generally were much improved. Two
large houses bid pork up early until May
touched S11s5, and July S11.05. Pork was
then fairly quiet until near the close, when
the prices were run up to $11.9O, May $ll
June and S11.1O July, an advance of about
% cents all around for the day. Lard was
narrow, but closed at about best prices after
heavy sales. Short ribs were very active.
Hutchinson bought altogether over 4,O0O,-
900 pounds. Poole. Baldwin and Ryan
were the principal sellers. One lot of nearly
100000 pounds went from Ryan to Hutch
inson in one block for July at S5.421a.
Fowles bought May lard. ana Hutchinson
sold 10000 tierces for July. There were out
side orders all day.
The leading futures ranged as follows:
|