St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-08-22
WHEAT SLIGHTLY LOWER.
A Nervous and Eccentric Market, a
Bearish Feeling Predomi-
mating.
Corn Gains Half Point. Oats the
Same, Provisions
Steady.
Financial Operations OF the Money
Kiugs---The General Quo
ta.i0ns.

CHICAGO, Aug. 21.-The wheat
market was eccentric. nervous and nm
settled all day. There were many in
fiuences at work on both sides, and
prices were dragged back and forth
over range of about 1c very often, and
in some cases very quickly. On the,
whole prices ruled lower and this was
because the bearsh feeling predomin-
ated on the floor. Very many holders
of wheat who bought from below 81 up
to the present figures still stand firm,
and predict that the sellers of to-day
will have to buy their wheat back at
higher prices. On the other hand very
many felt that it was too much of one
man market, and thatif Mr.. Hutchinson
for any reason gave up his line that
crash would follow. While many
sold out long wheat it may be said that
few had the nerve to operate very
largely on the short side, for a reaction
would result. There was considerable
pressure to sell wheat early, and that
was when the principal decline took
place. Later in the day the cold
weather talk in the Northwest made
bears cautious. During the morning
Hutchinson took considerable wheat
and supported the market. When he
stopped buying prices went to the low
est fl cures of the forenoon. Baker d
Co., Rumsey d Chandler, Logan & Co..
followed by host of others, were SELL
ers. Later in the day Linn did his
worst, as yesterday, to start prices Oh
No
Liverpool cables were firm all around
early and closed I'D up for Califor-
mia futures. Private cables were more
bullish than the public dispatches.
Bristol reported unsettled weather.
New York cleared $4,000 bu wheat and
10000 bbls flour, and Baltimore 10000
bu wheat and $4,000 bbls -four. in the
face of New York dispatches saying
that Liverpool had ordered two boat
loads of wheat back to Baltimore. The
action of the market up to O'Clock was:
September, Sl.O4 to sl.O3 to S1.0311s to
S1.03 to $l.O3%: December, $l.O7s to
s1.OS to S1.06M to S1.07M to $1.07 to
sl.Oss4 to s1.071a to s1.07sl; May, Sl.11%
to SLIPS to Sill to SLIP to Sl.11H to
$1.11%. The last half-hour i'll wheat
brought violent action. December sold
up to S1.OS1s and off to S1.0719 in a few
minutes, and closed at s1.O75s, OF but
sc under yesterdays. September closed
sl.O35s. only a fraction lower. and
May was at Sl.11T, &c lower. There
were some late dispatches claiming
damage from the frost of the 18th in the
Northwest. The foreign market showed
firm. and the efforts OF the bears here
were not successful. The corn market
was firm toward the middle of the ses-
sion, after showing some weakness
early. Trading was fairly liberal, and
prices in the end were within nc of the
best figures of the day, and about nc
better than at the corresponding time
yesterday. The firmness was due to
frost news. Oats followed the other
grains, closing &c higher. The pro-
vision market was firm on the strength
in the market for the raw material at
the yards, Prices in the end, however,
were about the same as on the proceed
ing day.
The leading futures ranged as follows: