St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-05-12
OPERATORS UNDECIDED.
Trading in Wheat Active, but the Vol
ume Of Business Not
Large.
Prices Rule Very Irregular and Close
Shade Higher Than
Friday.
Financial Operations of the Money
Kings---The General Quota
tons.

CHICAGO, May 10.-The record of the
week on change was kept up this morn
ing and all markets opened nervous and
excited, with prices in all grain pits
sharply advanced from the close yes
terday. The gains over night in prices
for July were: Wheat, BE; corn, re;
oats, &c. In both wheat and corn prices
moved up still further, but all markets
were either raided or showed weakness
before the end of the hour. There was
but one feature to the news uncer-
tainty as to what the government crop
figures might be of winter wheat and
the acreage of spring. For week past
the expectation of very bullish news
from Washington has caused more
than one bulge in prices. To-
day, as the time of the report
approached, the strain became more
intense and all else was forgotten.
Crop Export Prime was OH the floor
and gave his belief that the Dodge
figures would show condition of
about 7Sc for winter wheat against Sic
April 10. But whatever was given out
was entirely conjectured, and each
trader acted as erratic as if he feared
the result whether he bought OF sold.
The market started with great rush
and the greatest strength of the day
with July wheat at 95}4@96c the first
minute. There was slight drop to
9515c, a rally to sec, and on general
raid led by Baldwin and Farnum the
price went off to sac. There was
rally to 9424c, then decline to 94c,
another rally to 9455sc. and just before
! O'Clock a drop to 9S19c, the low point
of the day up TO that hour. Part of the
downward tendency was due to the
raiding, but the delicacy of the sup
port on the breaks indicated
change of sentiment from the opening.
There was great deal of unloading of
long wheat on each break and heavy
selling of short by the bears. The mar
ket was simply demoralized. During
the last fifteen minutes there was
great rush to cover short sales, and the
market closed strong at 945sc, re-
coYery of 1c from the bottom. After
the close of the regular board wheat
spectators went clean daft" The
regular market had scarcely closed
when from 1890 July wheat mounted
to 9519c, and the wild uncertainty re-
garding the government report is
wildly illustrated by the range in
privileges for Monday. Puts sold all
the way from SOC to Ole, and calls
from s1.O2 to $1.04 on July wheat.
Baldwin sold calls on many millions
of July corn at 3515c. Puts ranged from
3434@345sc. The wet weather, which
will interfere little with the market
ing and grading of corn, caused higher
prices at the beginning of business this
morning. The strenth did not last.
Elevator men were selling not only the
far futures, but May as well. Armour,
Baldwin, and also number of receiy-
ing firms, were heavy sellers. July
opened at 3514c, but sold off to 349lc.
May oats started in at 2Sc, sold to 2916c,
and afterward gradually eased down to
214c. There was very little trading in
them. July oats opened at 26c, sold to
267Sc, and afterward SOLD off to 25sIe.
Provisions were dull from first to last
Receipts of hogs were 5000 head below
the estimates, but the shortage had no
visible effect on values of product.
The leading futures ranged at follows: