St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-08-06

HEAVY DEALS IN WHEAT.
The Market Fluctuates Rapidly. the
Close Being Fractionaily
Higher.
Corn and Oats Active and Stronger
and Prices of Provisions
Advanced.
Financial Operations Of the Money
Kinas---The General Quo
tati0nS.

CHICAGO, Aug. 5.-The wheat market
to-day was lively one, but 1T was Oh
local sentiment and local business
rather than on any important outside
news or outside orders. After the re-
markable bulge yesterday just before
the close. the market was at first ABOUT
nc under last night and acted heavy.
The scalping fraternity proceeded to
sell for reaction. A number OF the
plungers sold to smash the market. Sew
eral conservative houses realized on
their holdings for two purposes-to take
profits and to get prices back to lower
level for new purchase. With all this
against the market the price OF
September yielded only sc from
the opening. This was sur
prise. A setback of 1c or more
was thought to be an easy matter to
bring about. When this did not occur
there was some hedging at once. Be-
fore the end of the hour the prices OF
September not only recovered the slight
decline, but went up to the closing price
yesterday. This was not wholesome
for those who sold for the break, nor
for those who let their wheat go early.
They wanted 1t back. They began bid
ding for it. The market moved away
from them. They bid Nc over the mar
ket, and yet no great lot of wheat could
be had. Those who wanted round lot
of 100000 bushels OF more had to pay
whatever was asked. This state OF af-
fairs created little panic among the
buyers, and in less than half an hour
prices went up 119c from the IL o'clock
figures, and fully &c over the bottom
prices of the morning. There were some
points on the bull side. Liverpool
cables were firm for spot and futures.
The visible supply figures were made
even more bullisb by correction max
ing decrease of $4,000 blu for the week.
The Pioneer Press, of st. Paul, was
authority for fresh damage to spring
wheat in the Northwest. South Dakota
dispatches said some thresherS were
getting six bushels to the acre. Min
neapolis reported much of spring wheat
samples received No. grade. Atlantic
ports cleared $4,000 bu. and fair guam
tity of flour. The last few minutes in
wheat brought no unusual action. Sep
TENDER, after touching $3.50, sold at
9554c, and closed at 968c, or &c over
the close yesterday. December closed
at 9s7sc, and May, after selling at
$1.OS115, closed at s1.O2%. August closed
at 1890. Five car loads were
taken for export at New York.
Corn was strong from the
start. Buying orders came in from
| Southern Illinois, from the far West.
and there was also good New York
demand. The local crowd did little
selling early in the session on account
of advance yesterday and this morning.
| Toward the close the local traders were
trying to get the grain back again. The
| Wall street contingent was buying on
account of the report of the Kansas ag-
ricultufal bureau that the corn crop of
tie state would be but 20 per cent of
that of 1889. Hutchinson was good
buyer early but he sold freely on the
advance. September opened at 472sc,
sold at 47%c to 1890 during the fore
noon and improved shortly after noon to
1871. Oats were in active demand at
further advances. Hutchinson was a
fair buyer. A lively business was trans
acted in provisions, and prices were
again advanced sharply all round. The
| outside demand was conspicuously
large, and corn operators were espe-
clally good purchasers.
| The leading futures ranged as follows: