St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-08-20
HIGHEST AT CLOSING.
The Chicago Wheat Market
Opens With a Good
Bulge.
Corn, However, Furnished the
Principal Interest in the
Trading.
In Sympathy With Wheat, the
Best Prices Obtained at
Closing.
An Unsettled Temper in the
Stock Market on Wall
Street.

CHICAGO, Aug. 19-As usual Of late there
was high tension at the opening of the
wheat market this morning, and because of a
prospect of a squeeze in corn and cold
wave n the Northwest there was a good
bulge the first half hour Cables received
were very conflicting. One class of Paris
cables said rainy and half franc up, with
a panic at Berlin. Duns Paris cable said
opening weak and continued weak; prices
low and no prospect of an advance. Law
sons adyices said that there would be an ex-
port tax on Russian wheat When the pub
lie cables came in at the close there was
nothing startling in them either way Sales
OF August wheat were principally between
81 OIL and 81 .02; September between 9934 C and
81 .02 December opened about 1c up around
S1.0312, touched SI.O4, sold back to tO2l2,
up to S1.03A. to S1.03 to S1.03l2, to S1.01L2. to
SL0l7s, to S1013s, to SL02A, to St.015s. to
SLOPES, to S102A. TO 81 .034, to S1.02s4 shortly
before o'clock. The market took another
bound at the close, and sold at the high point
of the day for December-S1. O44-and closed
strong at Sl.0l, or 1I2e up from last night
August closed at S103l2; September at
S1.021B.
The leading interest on change at the open
ing Was in the corn trade. The talk of large
holding of corn, which does not come out on
any advance yet made has caused a more
pronounced feeling about a September deal.
This put the traders on their mettle at the
opening The most general belief is that
Mr. hutchinson has a hand in hold
ing the long corn off the market and with
the farmers holding the actual stuff back a
squeeze would be very natural. The market
started very flghty. The first price was
quoted by many around SLICE for September,
| while sales were quickly made all the way
| from &c to CSC. There was a drop to 67l2c
and second bulge at the end of the nour to
| 6Sl2c. From this there was a sharp decline
with the break in wheat carrying the Sep
| TENDER to G6l4c. 1t then became a see-saW
| market, advancing to 674e selling again at
| 66l2c to 61l2c, 10 SIC. 10 67Ac, to &c at
! O'Clock. The early strength was helped by
| the Liverpool cables coming I'd for fut-
ures.
The corn market became very active and
| strong at the close, and again sold close on
| top figures. Then September recovered to
| Csc, and closed 21sc over last night. August
| sold 69I2c OH the early bulge, and back TO
! 6644c, closing at 6Slsc. October sold Gle to
| 6154c to 69Ssc 10 6ll2c at the close. Consider
| able strength was apparent in oats at the
| start, when prices were 4DI2c higher. Au-
| gust advanced to 2SI2c, and May to 32Bc
| when the market broke to 2Sc for August
| 2S3sc for September. and 32Ac for May The
| decline was due 10 the slump in wheat and
| free selling by Counseman. BOyden and Sib-
| ley. The market afterward rallied AQ4c
uuueF Idlr buying. 1neIe was quite purge
| just before the close, partially on account of
! the bulge in other markets and partially be-
| cause OF good buying.
The provision market was only moderately
active, fairly firm, without much business.
| Pork was active and prices were irregular.
| The market opened stronger at 7I2G110c ad-
| vance, and further appreciation of 12l2O
15c was gained. Later prices receded lea
l9c and clossd comparatively steady. Lard
had a fair demand. Prices ruled 5@712c
higher and the market closed steady Il
medium figures. Short ribs were fairly ac-
| tive, though the prices were somewhat ir-
regular. The close was rather steady to firm.
The leading futures ranged as follows: