St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-06-12
WEAKNESS PREVAILED
Wheat Was Heavy on Pres
sure to Sell From All
Sides.
The Market, After a Nervous
Day, Closed at a Re-
duction.
1t Was a Bear Day in Corn,
With Oats and Provisions
in Line.
Trading in Wall Street Was
Confined to a Few
Stocks.

CHICAGO, June II. A week feeling pre-
vailed at the pits at the start and prices took
the down grace, all grain and products scor-
ing sharp decline. There was some reac-
ton from the extreme depression, but the
prevailing tone was one of weakness during
nearly the entire session. Wheat was very
heavy at the start; the trade seemed to give
the governmental crop report decidedly
bearish Interpretation, and the liquidation
and short selling were heavy. The condition
of winter wheat is reported far above an
average Cables were hence lower for Liver
pool, and quiet and unchanged on the con-
tinent. From London it was reported as
impossible to make sales except at conces-
sions, and all American markets were
lower and weak, st. Louis taking the
lead in the decline. There was rery little
bullish news. New York reported thirty
boatloads taken for export; the receipts
there were largely below the estimates, and
outinspection rather liberal, though the de-
mand for cash wheat was light. July started
at 01ss@97s4c, against 9S78c at the close yes
terday. The selling pressure was very heavy,
long wheat coming out in large blocks. The
result was slump, amid much excitement,
TO 96l2c, with some sales reported at 96S5c.
At this point heavy buying orders from New
York and ST. Louis began to come into the
pit, and the free covering by shorts,
which had been buying in their lines
on the decline, began to make it.
self felt. The result was an ir
regular reaction 10 97s4c. Partridge
and Cudahy covered q big line from 97l2c
down. but put large part of it out again
after the rally; and, the load of long and
short sales becoming again too heavy, there
was another slump near the close, the price
dropping to 96c. and il stood at 96Ac at the
close. 1t was a decided bear day in corn as
well as in wheat, and it seemed to be race
between them to decide which could go down
the faster. The bull clique, which has been
resisting the downward pressure for some
time seemed to have withdrawn its support.
The frost predicted for most OF the North
western corn belt by the signal service for
last night did not mateIialize. On the con-
trary, the weather was reported fine for
the growing crop. Liverpool prices
were l2das-lower, and receipts were
this was added the slump in wheat. Long
corn went overheard freely short sellers
were steadily increasing their line. and conf
dence was seemingly, exhausted. July
started at 5684@57c, against 575s@5I54c at the
close yesterday, and sold off rapidly to 55slc.
reacted with wheat to 56l2c, and in the final
scramble went down with that cereal, touch
ing 55c, and closing lBc above the bottom.
Oats shared in the general Generalization
They started at 427sc, touched 43c, sold off TO
417Sc reacted to 42l2c broke to 41lsc. and
corn rather closely. There big slump
during the first hour, pork leading in the de-
cline, but there was some recovery later in
the day, and another drop at the close. Sep
TENDER. in parison with yesterdays close.
shows a loss of 3112c in pork, 7l2c in lard and
ribs.
The leading futures ranged as tollows: