St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-10-13
The Government Crop Report
Had a Bad Effect on Chi
'cago Wheat.
A Loss Of Nearly a Cent From
Saturdays Close on the
Leading Option.
Corn Was Strong and Nervous,
Scoring an Advance Of
Two Cents.
Dull Trading on Wall Street
With a Loss to Nearly Ali
the List.

CHICAGO, Oct. 12.-Wheat opened weak
and lower to-day. The prime cause was the
government cIoD report OF Saturday, which
was promulgated after the close of the
board. 1t indicated the very large total of
about 591,000.o00 bu as the seasons yield
which will give surplus of about 23o, 900, 700
blu for export according to the local experts,
and heavy decline was looked for. Liver
pool reported decline of l2d in spot. and Id
in futures, but London was Cd higher on
California wheat TO arrive. and New York
started lower.
The first sales here showed a decline of
1Ac from Saturdays tclose, but almost i'm
mediately began TO develop strength, and
finally advanced lc, but lost part of the i'm
provement The early advance was the re.
suit of good buying orders from New York
and some bullish reports. One of these
was the published statement that Ger
many and the United States had signed a
convention by the terms of which ali Ameri-
can cereals would be admitted into Germany
duty free. in return for the free admission
into the United States of German beet sugar
free OF duty after January next. In spite of
dispatches somewhat conirmatory of this
report ii was not generally believed here but
it nevertheless caused some covering by
timid shorts, and helped the advance.
The news which had more decidedly
bullish effect upon the market in the early
trading twas the signal service report, indi-
eating rain. wiki probable snow. on the I'M
threShed wheat crops in the Northwest, with
continued clear dry weather in the South
west, hich. 1t was argued would further
delay winter wheat seeding.
Logan. Schwartz Dupee, Milmine- Bodman
and Clifford bought freely, with Kenneth
Hopkins the leading sellers. McDougall
bought good line early, but sold on subse-
quent advance. December opened a. 9;A0
9o12c, against 99l2c saturday at the close.
sold up TO 9Ss4c. OF TO os4c, up to g914t. re-
ceded TO GSlec, rallied near the close 10 R7sc,
and closed steady at SSS4c.
Corn was nervously Atrn The market
opened I40l2c lower on Inc government re
port placing the condition at 92.5, against
OIL last mcntn, and indicating q crop of
200e. co0.00l Blu, but soon sold up i6I2I2c Oh
liberal purchases by the local shipping con
tingent and shorts, who came i'll on the
advance. Realizing carried the market
back l201c. after which it ruled firm
October opened at 52l2c against BIC ST the
close on Satur lay, sold up irregularly to sc.
reacted TO sac. around which hgure ii held
for a long time, then near the CLOSE ad-
vanced to 5is4c and closed at 54l2c Oats
were quiet AID steady, and closed A@Ssc
higher.
Pork was active but lower, early, though
receiving most of the decline later in The
day. The liquidation was again very general
and the demand was slack and bids much
reduced. The big stock of pork here, which
will become irregular on Jan. l. was the de-
pressing factor. and the weakness in this
dragged down the long futures. The close
shows a loss of 742@1=c. Lard is ii20I2l2c
lower, and ribs 7I2015c.
The leading futures ranged as follows: