St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-10-22
WHEAT IS UNSTEADY.
The Opening Was Lower, an
Advance Followed, but Was
Partly Lost.
A Gain Of Almost One Cent Is
Scored on the Days
Trading.
Corn, Oats and Pork Also
Make Quite Material Adj
vances.
Activity and Higher Quota
lions Mark the Day on
Wall Street.

CHICAGO, Oct 21-Wheat was weak and
lower early, but the demand proved quite
sharp, and a reaction soon set in. carrying
the price up nearly cent and quarter from
the low point, but all the advance was not
held. There was little in the way of news.
Cables opened easier, New York and other
domestic markets were lower. and fine
weather was reported in the Northwest.
The weakness yesterday brought good deal
OF long wheat on the market at the start and
the pressure sent prices off fully s4c below
the close last night, but the crowd oversold
itself, and corn. oats and pork all developing
unusual strength, and good buying orders
coming in from New York and the North
west. wheat strengthened and made de-
cided rally The advance, however. brought
out short sellers and under free offerings the
market weakened and declined.
Then, during the last hour, a report was
circulated to the effect that Russia, having
already prohibited the expectation of rye and
oats, would not extend the prohibition to
wheat. On this there was a sharp rally TO
the highest point of the day. The market
weakened little on realizing sales after that.
but closed at the top. Bradstreet's report,
showing decrease of 1000. 600 bushels in the
available supply. helped the late advance.
December, which closed yesterday at 9i5Sc.
opened at $3.50, advanced gradually to Csc.
eased off to 9i1sc spur:ed up to 95lac, re-
acted to 954c, but rallied and closed strong
at 95I2c. Late cables were generally easy.
but it was reported that foreigners were buy
ing in New York.
Corn was again nervously strong. espe-
cially the nearby futures and scored an ad-
vance Of more than 1c, nearly all OF which it
held till the close. Continued light receipts
made the shorts nervous and caused brisk
covering demand. while the offerings were
limited. The old bull clique helped the al
vance aud there was fair shipping demand.
November started at 49c, sold up to SOC.
eased off to 49lsc. became firm and advanced
to 1890, at which II closed.
Oats showed great deal OF strength. due
partly to sympathy with corn, but mostly
TO the confirmation Of the report received
some days ago that Russia had prohibited
the further expectation of oats from that
country November, which closed yesterday
al 2SAc. advanced to 2976c and closed at
20ssc. A TELEGRAM from New York reported
100000 Blu taken there to-day for export, max
ing nearly million in two days Hog prod
ucts. which opened lower, grew strong, and
advanced in sympathy with corn, and be-
cause or new ruling by the board of direc-
ors, which makes OF pork n merchautatle
commodity after Jan. i as q second grade.
though it is not to be deliverable on con
tracts unless SO specified. The market was
dull during most of the session, but showed
an advance over yesterday of 1E@22l2c on
pork, t@1l2c on lard, and 5@10c on ribs
rThe leading futures ranged as follows: