St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-07-18
OPERATORS ARE UNEASY.
Wheat Opens Higher, Eases Off Again
and Finally Closes a Shade
Lower.
Corn Advances a Fraction, Oats Close
Steady, Provisions Being
Neglected.
Financial Operations Of the Money
Kings--The General Quo
tati0nS.

CHICAGO. July 17.-It was Hutchin-
son against the crowd in the wheat mar
ket, with the one-man power on top at
the end. The same parties commended
in the corn pit, but the crowd there was
more unanimous than in the other pit
and won easily. The tendency in wheat
was mainly bullish, the reasons given
for which were, in the first place, the
Cincinnati Price Currents decreased
estimate of the spring and winter wheat
crops; next, the reports of more rainy
weather in England; lingering rem
nant of the feeling carried home on the
night BEFORE, that on the general out
look wheat waS-ln Scalper'S phraSe-a
buy. This sentiment was far from
unanimous. however, and lacked the
support of a once very influential
trader. Hutchinson was free seller of
the December and September deliver
les. and appeared at one time as If he
meant to supply the shorts of the en-
tire speculative fraternity from New
York to Minneapolis. AS soon as he
took his hand off the market-as he did
occasionally-the price, which had been
depressed by his sales, showed cOnsid-
cradle buoyancy. The Northwest, from
whence came much bull news, also sup
piled liberal allowance of an opposite
character, and nearly every one on
'change was prepared to dispute with
his neighbor on the subject of the out
look for crop of spring wheat. The
foreigners were reported as selling in
the New York market, and William
Dunn was doing the same thing here,
his sales being also supposed to
be on orders from abroad. The
price of September at the start was $3.50
or NC higher than the close Wednesday,
and it was Immediately bid up to SOC,
which was the highest it realized dur
ing the session. 1t declined to $3.50
more than once, and worked back again
to about the opening figures, but toward
the close feeling was heavy and the
price dragged at near the bottom fig
ures of the day. The corn market was
very strong from start to finish. The
dry weather, accompanied by excessive
heat. which was reported as still the
condition of the weather in Kansas, Ne
braska, Iowa and Wisconsin. but more
especially in the first-named state was
the stimulant from which was derived
the pronounced strength. Oats devel-
oped additional strength. July showed
an advance of a cent over yesterday.
The advance in the other futures was
not as pronounced. The light receipts
and small amount Of grain in store were
the principal causes for the advance in
July. The provision market was stiff,
and prices were well maintained. Al
though an emphatic contradiction was
given to the reported removal of the
duty imposed by Germany on American
hog products, the demand at the yards
for hogs was reported active at high
prices, which was credited with the
strengthening of the market. Trade in
the speculative branches was inactive,
but a good demand was said to exist for
cash meats and lard. Ribs improved
about 21ac. July pork declined 25c, and
other articles were unchanged.
The leading futures ranged as follows: