St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-09-12
UNCLE SANS SAY SO.
The Government Crop Report
Causes the Bulls to Feel
Very Jubilant.
Wheat Bobs Upward Over Six
Cents and Closes Four
Cents Higher.
The Reduction in the Esti-
mated Yield About 49,
100000 Bushels.
Corn, Oats and Pork Slide Up
the Scale in Sympathy
With the Leader.

CHICAGO. Sept. 11.-Wheat trading was
very active and the market excited, closing
&c higher than yesterday. The opening was
very unsettled. with sales varying 1h@1c in
different parts of the crowd, and ranged from
&c to &c higher than yesterdays closing, fol-
lowed by further advance of 1@112c, or to
$1.O6ss for December and 81. 1O12 for May,
or some 6A@612c above the inside figures
reached Tuesday. Later the market eased
Off some, declining A@ssc, held firm and
closed about DC higher. The advance was
attributed to the government report. The
report, while expected to show a further de-
crease, proved rather a surprise to the most
sanguine bull. 1t was generally supposed
that spring wheat would show lower aver
age, but this was hardly looked for in
winter wheat and the decline in both makes
an estimated reduction in the total crop of
about 10, DOC, 600 bushels, as compared with
the August report. Trading was very heavy,
both on outside and local account, and every
body wanted to buy at the start. The shorts
covered freely, with heavy realizing on the
top. On the way up the offerings were not
heavy, and the short interest experienced
some difficulty in executing their orders
without bidding the market up. Some large
lines were covered.
Corn was active and excited most of the
cCooAOh, PiiCO SIduScS Ucluk SlitIp duQ IF6-
quent within an irregular range. The feel
ing developed was much stronger and
higher prices the rule on all futures,
due almost exclusively to the gov
eminent crop report. which showed
still further decline in condition, and indicat-
ing yield of 1.54O, OO0, 900 bushels First
trades were at 1l2D2 cents advance, without
much being offered and under active buying
for shorts and investment another bulge of 1
cent Immediately followed. There was free
realizing by local longs around 81 cents, and
prices receded 7s cents, rallied, selling up
LIS cents, ruled steady, and closed with a
gain of 3szD4 cents. The business was al
most entirely in May, and several large short
lines were covered. The reported cold
weather in the Canadian Northwest helped
the advance. Oats-An active business was
transacted at a decidedly high range of
prices. The advance and frmness in price
was due to the government crop report
showing a decline in condition during
August of ST. points, making a re-
duction in the estimated yield for month
ago 45.000,00O blu, and from last year of
100000 blu. First sales were at S4c ad-
vance; further appreciation of 1@142c was
recorded, and, after several small fluctua-
tons, the market closed firm at about out
side figures.
Mess Pork-Trading quite active, and open
ing sales made at 10@I2I2c advance A
temporary decline of 21a@l5c was submitted
to. Later prices rallied 35@4Oc, and the i'm
provement was moderately maintained to the
close.
Lard attracted very little attention. Prices
ruled 7l2@10c higher, and closed compare
lively steady at outside figures
Short Rib Sales.--future was fair bust
ness. Opening sales were at 5@1Oc advance,
followed by further Improvement of 2l2c
Later a reduction of 212@5c was submitted
to. Near the close prices rallied 5@71ac,
closing at outside figures. toH
The leading futures ranged as follows: