St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-07-31
A RAISE OF ONE CENT
Marked the Close Of Trading
in the Wheat Pit at
Chicago.
The Opening Was High and
Strong on the Bullish
Reports.
Corn Was Wavering, Firm
and Active by Turns in
the Deals.
Activity on Wall Street Re-
suits in Lower Prices at
the Close.

CHICAGO, July 30.-The net result of to-day S
trading in wheat was an advance of about 1
cent in prices. The market opened strong
and higher Oh a run of decidedly bullish
news. To begin with, New York reported
that Yesterdays export clearances reached
the phenomenal total of about ., ZOO, 900 bush
els, that the market was 1c higher and had
numerous buying orders here. In addition
to this the public London cable quoted car
goes for prompt shipment He'd higher and a
private Paris cable said that the weather
was bad that the estimated crop damage
was 40 per cent and that prices were 1 franc
higher. Receipts here were also below the
estimates. The result was that December
opened 340lc higher at 901.G1S4c and quickly
sold to 9034c which proved to be the highest
figure for the day. At about this time Logan
& Co. got Paris cable giving decline Of
franc, and Immediately commenced selling.
New York and st. Louis also turned to the
selling side and the scalping element soon
tailed on and the price quickly began to
slide downward.
1t did not take December long to get to
S934c, and it hung for a considerable time
around zoe. S. V. White & Co. began buying
around this figure, and were Joined by
Schwartz Dupea, Milmine Bodman and Glf-
ford. The New Workers also began buying
private cables were more hopeful, and there
was said to be resumption of active export
buving in New York, and the market turned
up trifle. December selling to 904@90SSc.
Late continental cables TO the board of trade
quoted weak markets, with Paris lO@l5 cen
times lower. During the last hour wheat was
dull and steady, December keeping at 9y(0
90i4c for a time, then sold to 90l2c,and closed
at 905sc a dispatch from New York re-
ported Power d Son as claiming to have an
order for cargo of wheat for ST. Petersburg.
AS this was regarded as equivalent TO ship
ping Goals to Newcastle" it was received
with incredulity.
wheat, continued cool weather and the fact
that the receipts were about seventy cars be-
low the estimates. There was also a sus-
picion that New York clique was disposed
to get higher market 10 sell. September
started ragged at 5734GljSlsc and sold up to
5SAc. Offerings then became plenty and
wheat weakening, corn quickly broke to
56ssc Then came prediction of frost in
Wisconsin, Michigan and Minnesota tonight
and that, with the Cincinnati Price Current S
statement that low temperature was keeping
back the development of the corn plant,
caused a reaction to 57s4c. This was fol
lowed by drop to 57Isc. and that by rally
to 577sc, at which it closed firm. Oats were
quiet and easy during most of the session,
but turned up with the closing rally in corn.
Hog products were strong around the open
ing on the decrease of over 50 per cent in
the hog packing of the country for the past
week compared with the corresponding
week last year. but later weakened with corn
and rallied with it near the close, closing at
about the highest figures of the day. Pork
shows an advance of 12l2Ql15c. and ribs of
and scored a gain of about sc.
The leading futures RANGED &c fNitN-'--'