St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-10-28
WHEAT IS IRREGULAR.
Strength Early in the Day
Followed by Decided
Weakness.
Closing Prices Three-Quarters
Lower Than Saturdays
Best Figures.
Corn and Oats Active and
Lower, Hog Products Clos
ing Easy.
Through Sugar Trust Shares,
Bears Pound Stocks Out
Of Shape.

CHICAGO, Oct. 27.-Deveiopments in wheat
were quite rapid and unexpected during the
session. Two or three distinct times the
market acted bullish, the trading became
broad and general and it looked as if higher
prices would be sustained. Before l o'clock
all the indications failed, the bull news lost
its force and the market was fiat at lac drop
from early prices and l2c to s4c under the
closing figures Saturday. 1t was scalping
market very largely, with Hutchinson very
full of whims aud the crowd trying TO follow
first the natural influences and second
Hutchinson, and missing it in both cases.
The news was conflicting from the start. The
firm and slightly higher Liverpool cable was
the first bull influence. Private cables were
strong and quoted an upward tendency. At
the same time Hutchinson started in free
buyer. After bulge he turned seller. and
scalpers sold on the receipts in the North
west-Minneapolis 948 cars, Duluth 2O6
There was selling on the increase in stocks
at Minneapolis ZAP. 900 blu, and at Chicago
over 30 ,uOu Blu. The visible supply figures
at first indicated a big increase and at Il
O'Clock prices were off &c from the opening.
Then there was rally or bullish cables re-
ceived by Geddes and by Haley both going
to show lineral decrease in the final official
estimate on the Russian crop. The figures in
the Geddes cable indicated a reduction of
100000 bu to total of 6,uUO, 200 Du.
AT The same time the Milwaukee estimate
on the visi. lie, usually nearly correct
was given at 100000 bu increase,
or less than half the increase
year ago. On this sort of news prices went
again to the best points of the morning The
figures of the visible supply were posed
about noon at an increase of 1,11S,OUO bu.
1t was shortly after this that the dispatches
reported Hutchinson selling out wheat at
New York. The Russian crop estimate lost
its force. The market dropped back 1c in
quick time to the bottom prices of the day up
to That hour. The action was: December
opened $1.O3A, sold 81 .O3ss to SLOPE to
S1.O3A to S1.Ol7s; May, SI..7as to Sl.O7 to
S1.O7s4 to S1.U6l2. Receipts here were over
the estimate at 1877 cars, and for tomorrow
the estimate was 195 cars Trading was
slow until the market turned down. but from
S1.o212 TO S1.0l7s the transactions were
heavy and the noise in the pit was up to it's
general average. The buying around SI.O17s
and $1.02 was good. but Sl.c1s4 was touched
for moment and the reaction from these
was only lac, leaving December at Sl.02, or
esc lower than on Saturday. On the curb
puts on December wheat sold at S1.U1B and
calls at 81 .oaA Corn opened strong, but
followed the influence of wheat and at the
close was weak and 1s@Ac lower. The oats
market was weak on heavy selling by Hutch
inson in connection with the heavy receipts
The near futures were dull and inactive.
May closed Ac lower Provisions SYM
pathfzed with the feeling in the corn deal,
opening firm and closing easier and trifie
lever at the close.
The leading futures ranged as follows: