St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-08-11
NERVOUS BUT STRONG
Was the Condition of Trade
in the Wheat Pit at
Chicago.
Fluctuations Were Wide, Sud-
den and Erpatic, With an
Advance.
Sharp Changes in Values in
the Corn Pit--The Other
Markets.
Bullish Feeling in New York
Markets, and the Bears
Aggressive.

CHICAGO, Aug. AUTHORIZATIONS in values
on the board of trade were rather wide to-
day; in grains they were very sudden and
cratic, but closing with good advances over
Saturdays last prices. Provisions were
weak, breaking badly early in the season and
closing with only part of the loss recovered.
Wheat was nervous and spasmodic, but gen
orally strong The early news was bullish;
cables reported an advance of I2d at Liv
erpool, Paris was 30 confines higher; the
weather both in Great Britain and on the
continent, was reported unsettled; the dis
patches published this morning, reporting
damage by the extreme hot, dry weather in
the Northwest, were partially confirmed by
private advices to commission houses here
and the weather map showed continued
clear, warm weather in that region. These
things, taken together, scared the shorts, and
they were anxious bidders at the opening
The start was ragged and was accompanied
by considerable excitement
In addition 10 the bidding by shorts, some
of the leading commission houses had heavy
buying orders, while on the other hand hold
ers were disincliued to part with their grain.
The result was that while bids around The
opening were anywhere between 9Jl5@92c,
against 9O34c at The close on Saturday, the
price had reached 92I2c before any conSidera-
vance. however, the longs began to take
their profits, and there was considerable sell
ing against puts. About this time, also. the
early buying orders were about filled and the
sellers soon outnumbered the buyers This
caused a recession i'll the price of December
to 9l12c; there was a reaction TO 92c The
market held around that figure till the visi-
bic supply report was received, showing an
increase of nearly 100000 bu where little or
no increase was expected; then it weakened
and went off to Ole. The market grew
dull during the afternoon. traders being
inclined to await the appearance of the gov
eminent crop report, and numerous contra
dietiOns of the reports of crop damage in the
Northwest were received. These assisted
the decline; but later the market firmed up,
advancing to 9l5s and il closed firm at 9il2c.
The corn market ranged higher, and While
the price ranged higher, the changes in val
ues were sharp. The feeling at the outset
was weak, owing to the hot weather OF the
past few days, which was reported as bring
ing corn forward very rapidly: but the weak
ness finally gave place to strength when a
few brokers with buying orders came into
the pit and tried to fill them. There was
very little corn for sale. and the result was
rapid advance of 1Ac in price. The clique
is known to hold large amount of corn,
and has held it tenaciou sly, buying 1t on
nearly every break, so that the trade is
getting apprehensive and begins to fear the
short size in view of the possible manlDula-
ton. September opened at 5SQ5S14c, sold at
5Sc, reacted to 595Sc, declined to 5Sc. adj
vanced 10 59lsc. became slow and weak on
good realizing sales and the break in wheat,
and. during the last hour, sold off TO 5Sl2c,
and back 10 59c. at which it closed steady.
Oats were quiet, but firm in sympathy with
wheat and corn and closed at the top figures
of the day. Hog products were lower. The
receipts of hogs were $500 more than esti-
mated and there was urgent selling almost
from the start. Poole-Sherman, Norton
Worthington, Schwar,z-Dupee and Ryan all
sold heavily. September pork started at
Sl0.52I2 against $1,000 at the close on SatGr-
day. broke 10 $i0.25, rallied to 042l2 and
closed at Sl0.31I2 a loss for the day of 22L2c.
Lard was steady and closed unchanged. Ribs
closed with net loss of &c.
The leading futures RANGED as follows: