St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-08-01
RAPID FLUCTUATIONS.
Heavy Speculative Business Trans-
acted in Wheat on Change at
Chicago.
The Close Nearly a Pull Point Below
Wednesdays Final Fig
ures.
Financial Operations Of the Money
Kings---The General Quo
tati0ns.

CHICAGO. July 81. = The wheat
market was changeable affair to-day.
1t started with great deal of bull
force carried from the curb and from
the corn trade. There was barely a
fraction gain from first prices until the
market began to yield on the liberal
offerings OF long wheat. The news of
the day was at first quite bullish, but
later there were decidedly bearish dis
patches and cables. Both longs and
shorts became free sellers, and prices
went off before o'clock to points 11ac
and &c under the top figures early, and
materially below the closing prices
yesterday. The Price Current report
as telegraphed was that winter wheat
threshing returns continue dis
appointing, and spring wheat
further impaired by the unfavor-
able weather in the Northwest.
Such bullish dispatches as came from
the Northwest were disbelieved by the
bearish crowd. Later in the day they
they were justified in this, for the truth
appeared to be that the Dakotas and
Minnesota had lower temperature and
light rains in many places. A cable
gram gave the London Daily News as
authority for the statement that two
thirds of the English crop is an average
and one-third above the average yield.
This was very beariSh, in view of the
bad weather reports. Liverpool cables
were of a bearish nature also. On the
other hand, Chicago inspected $4,000
bushels out of store and shipped $1,000
bushels. New York cleared $4,000
bushels wheat and Baltimore 10000
bushels wheat and $4,000 barrels -four.
The wheat market was further de-
pressed before the close. September
sold down to 92c, December to 9414c,
May to CSC. Closing prices were: July
90Zc, August 80 1-20c, September 9214@
923sc, December 945sc, May $500. The
opening of the corn market to-day was
the widest of the year. The transac-
lions OH the curb were the disturbing
element. When the rush began in the
pit trade became excited, and while
some were trying to buy September at
49c or above, others were trying to sell
at 4Sc and under. 1t is safe to say that
trades were made for a moment all the
way from 4719c to 1870, and SOC. At
this the market scattered. A little
principal trading was under 4Sc, but
even that was more than &c over the close
yesterday. From 47s4c, few minutes
after the start, the price went slowly to
1890. but recovered to 471ac, and was
quoted at 472s@4715c at the close of the
market. The dry weather is of course
still the source from which the market
gets it's strength. The reaction to 1870
was on the report of promised rains for
Kansas tomorrow, but the drouth being
advised as continuing to-day made the
market firm at the close. Oats were ex-
cited and higher at the start, but ease d
off with the other grains. There was,
as in the other pits. free realizing sales
by those who had profit in their deals.
The provision market was fairly active,
and prices were we'll maintained under
the influence of the strength of the corn
deals. Pork was easier except for jan
nary, which improved 16c. The jan
uary deliveries of lard and ribs each
made slight improvement. Outsiders
supported the bulls. The packers were
again the sellers.
The leading futures ranged as follows: