St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-10-11
WHEATLOST The GAIN
a Seeming Bo m at Opening
Develops Into a Weak
ening Close,
Cautious Bears, Slack Bust
ness and Good Weather
Affected Trading.
Corn Lost in Sympathy With
Wheat, and Provisions
We're Weak.
q Strong Tone in Wall Street
Markets Peters Out Be-
fore the Close.

CHICAGO, Oct 10.-The price of wheat was
chiefly governed by the tone of foreign adj
vices to-day. Prices were higher most of the
day as the result of speculative excitement
and decidedly higher prices i'll Liverpool
but toward the close prices abroad weak
ened, and under the heavy realizing sales the
market here responded and all Of the gain
over yesterdays last figures was lost. with
something besides. AT the opening the board
cable quoted futures in Liverpool 101l2d
higher, while private advices quoted the ad-
vance at 262l2d. Continental markets were
quiet, but domestic markets all showed adj
Vances, with New York i'll the lead and send
ing buying orders TO commission houses
here.
Logan. Schwartz-Dupee, Lamson Bros.
and Kenneth Hopkins were all liberal buyers
at the start, and shorts covered very freely.
For a few minutes it looked as though the
market was shaping fora boom, but outside
trade was excessively dull, and after the first
buying rustswas over business got very slack.
realizing became quite general and prices
weakened, but still presented a very stub
born if not a strong front, and yielded
slowly. The bears were cautious and kept
near shore so theyscould readily get into
port on indications of storm. The fact
that the government estimate was kdue this
afternoon had a tendency TO make trade dull,
as operators were disposed to wait and see
what the final conclusions OH the crop were.
Later on, with weaker cables and brilliant
weather in the Northwest. under which the
rain soaked wheat shocks were reported TO
be drying out rapidly. with the prospect of
general resumption of threshing Monday. the
market grew weak and continued so to the
end. December opened at SlOGs401Ol,
touched Sl.G1ls. then receded with numerous
small rallies TO Sl.0034 then. on the lower ca
bles, the Northwestern weather reports. lib
eral realizing, and reports that foreigners
were reselling, q downward movement set in,
which continued to the close when the price
was at the lowest figure of the day and weak
at 9912c against Sl.0Ol4 at the close yesterday.
Corn was little more active and generally
stronger. though there was not much ANNA
ton in the trade. The speculative demand
gent. BratletU & Fraser were buying mod
and Scewartz & Dupee were moderate sell
ers, The receipts were only 6l carloads.
october opened at 5assc, or Ac higher than
yesterdays close, touched 53Ac, advanced TO
63s4c, then grew weak in sympathy with
wheat and the slump in hog products, and
sold off to 53c, at which IL closed. Oats were
neglected and steady.
bog products were very weak, packers
selling freely and bears raiding the market
for pork. With the exception of a small
rally during the latter part of the session
caused by realizing bear purchases, the
course was downward throughout the day,
with the result that pork shows a decline of
47l2G160c: lard is off 7l2@10c. and ribs 5@D15.
The leading futures ranged as follows: