St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-08-12
TOUCHED THEDOLLAR MARK
September Wheat Moves the Same as
When Hutch Held ALI in
Silht.
Corn and Oats Follow the Same Course
as Wheat, Provisions :.
Strong. =
Oh
Financial Operations Of the Money,
Kiags---Ths General Qaota- ~
tons. -

0CHICAGO, Aug. 1.-THE visible sup
ply report was lost sight of the first
hour in wheat because of the remarka-3
able opening of the market. an advance
OF &c from Saturday. Later in the day,
when the visible supply showed an in
crease of $4,000 bu., there was little
disappointment Not because an in
crease is not natural at this season, for
a year ago the increase was 10000 bu.,
but because the early figures received
from Minneapolis and few other cities
made it look as if there might lie de-
crease. This would have added to the
bull ammunition greatly. The situa-
ito n in wheat here at the opening was
peculiar. Notwithstanding the big bus
mess of last week, the trade prepared
for the Dodge crop figures by getting
opened up. Then when his report came
after hours Saturday it was harm
less. 1t proved to be quite bullish.-
1t gave the average of spring wheat,
over which there has been so much con-
troversy, at 83. The extreme estimates
of the trade were from 50 to SO. The
government estimate very nearly con-
firmed the worst feature. and this, with
the damage done since Aug. l, made it
a cause for sharp bulge. The market
opened with bound of over SC. This
was not followed by any panic, any
great coverings by shorts or unloading
by longs. That was out of the way, and
business began on higher range, with
bulls and bears still even. Leopold
Bloom was the first to sell long wheat
heavily, and this checked the up
ward movement. Later in the day
Roche and others sold freely. A big line
of long wheat, taken by S.V. White & Co.
last week was partly liquidated at the
advance figures. While opening prices
were about the top for the day there
was no violent reaction. The range for
leading months up to o'clock was but
1c, and the trading was not equal in
volume to many days of late. Liver
pool cables were very firm and I'D up
for spot and futures and private cables
later were bnllish. New York cleared
only 10000 bu wheat and other ports
practically nothing. After 1 o'clock
there was considerable activity in
wheat. Prices yielded second time
going to $3.50 for September, and
Sl.025s December. This was followed
by bulge at the close when there was
no wheat for sale. September went up
quickly to 1890, and $3.50 was
bid after the regular close; December
closed at s1.oS seller; May, s1.O7. The
market closed buoyant and strong.
Wheat was stronger ON the curb, and
Yves quoted at 81 for September. Puts
sold 975sc to 9s1lc to 9s5sc; calls, s1.ol1s
to S1.025s to s1.0236. Corn opened strong
and nc higher OH the government crop
report, but late in the day an easier
feeling developed on some local reallz-
ing and selling on country orders on
the strength of rains throughout the
West. The close was &c higher than,
Saturday. Oats followed the same
course as wheat. and corn advancing
early and then declining as the longs
took their profits. September closed
&c higher. The provision market was
strong in sympathy with corn. January
pork gained zoe, lard to nc, and ribs
10c.
The leading futures range as follows: