St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-11-30
MARKETS OPEN WEAK
Wheat for May Delivery
Starts in at an UneX-
peeted Decline.
Local Spectators Depressed
by Recent Shaking Out
Of Bulls.
Prices On Wall Street Droop
All Along the Whole
Line.
General List Was Quite Irpeg-
ulap and Shaded Off
Slightly.

CHICAGO, Nov. 29.-The grain and pro-
vision markets opened weak and lower than
they closed on Friday, and while the days
business had Few hard spots interspsrsed,
the final result was decline in all the specu-
latiVe articles. The wheat market was heavy
IL the opening and the price of the May de-
livery started al a decline of 12c from the
closing quotation of the day before. The
spirits OF The local SPECTATORS were de-
presSedb by the evidence which continued to
crop up of the far-reaching effects of the re-
cent shaking out of the bulls in the stock
market. Money is StiH scarce, even for such
necessary purposes as the CARRYING of grain
and provisions, as evidenced by the widening
of the premium between December and May
wheat to Sc per bushel The receipts
here were again liberal and considerable in
excess of the estimates made yes.e rday. The
foreign markets were quoted dun. put
steady. Stocks were weak, the New York
bank statement was expected TO be unfavora-
bic and gold exports were expected as q pos
sibiliIy within the next few days. These
we're the influences under which the specu-
lalors in grain could see nothing but gloom
in the outlook when they started trading
The crowd in the wheat pit was unanimously
on the selling side during the first tel min
uIes Of the session. and the May delivery de-
clined lsc under the opening quotation
After this spell of weakness, the news which
came TO hand being of a less somber char
aeter than the fOrebodings of the SPECTATORS,
there was period of strength which lasted
up to scout u o'clock. The clearances from
The Atlantic ports were again heavy in the
article of -four but only slightly above zero
In the outgoing OF wheat. Dispatches from
the Northwest advised falling-off of farm
srs' deliveries ana the demand for cash
wheat in Minneapolis was reported such as
10 keep the spot article al q premium of from
212c 10 Sc over the December delivery The
increase of stocks for the week at Minneap-
oils and ST. Paul was estimated at 275, 100
bushels and ST. Louis expects TO show de-
crease of 10000 bushels The estimates
Ventured on the official visible supply were
In the neighborhood of 10000 bushels in
crease. There was a fair degree of firm
ness every time the price of May wheat
got to the nelghborhood of SlOul2,
which it did several times during the dav,
Sl.OLSs being the low point. Shorts were
unwilling to sell at under those prices but,
on the contrary, preferred covering their pre-
vlous ventures. In the meantime the differ
ence between December and May had wid-
ened 10 sac, and that was the spread pre-
ya1ling as the market closed. The final trad
ing in May was at Sl.UO84@1 .007s. and De
cember was therefore normally worth 92l2c,
with nothing doing in the latter at the last
moment. Some OF the recovery toward the
close was due TO the reported purchase in
New York of 10 boat loads for shipment to
Lisbon. The corn market opened weak, in
sympathy with wheat. and first sales were
made at a decline of 14c from yesterdays
closing quotations The trading was not
particularly active at the time referred toand
rather dragged during the first half of the
session. Lacking any sufficient support the
prices inclined downward, answering i'll this
respect the predominating feeling of the
local spectators, which fayors a lower
range. reports from Kansas and Nebraska
were IS gloomy with regard TO the outcome
III the crop as any previously received, but the
active demand for shipment which charac-
leriZed the closing days of lake navigation is
now abated, and has now to adjust itself to
aI-rail rates. The business was heaviest in
the last half of the session. during when all
semblance of strength was eradicoted. and
The weakness developed continued to the
end The closing price being within 1sc of the
lowest figures of the day. The
ately after the opening. Oats were
fairly active, but weaker. unsettled and
prices ranged lower The opening was at lac
decline. but on fair buying by large oper-
ttor rallied I2c. The weakness in other grains.
md free selling by parties who bought freely
Yesterday, produced heavy feeling and
prices receded S4c, rallied slightly and closed
easy, 12c lower than yesterday. Pork-Only
fair trade was reported in and the feeling
was easier. Opening sales were made at Is
02Oc decline. Later prices rallied 5@7I2c.
and closed quiet at about medium figures
Lard-Qulte good business was transacted.
Opening sales were made at 7I201Uc de-
cline, but moderate buying tended to @
steadier feeling, and prices rallied 2I2M5c.
Later prices settled back again and closed
quiet Short ribs-A fairly active trade was
reported, and the market in general wav
the market closed quiet a. inside figures.
The leading futures ranged as follows: