St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-06-24
QUIET AND BEARISH.
Favorable Conditions for the
Harvest Gave Comfort to
Bears.
Statements AS to Amount on
Passage Created Some
Nervousness.
No Special Features De-
veIoped in Corn, Oats or
Provisions.
Less Confident Feeling in
Wall Street on Gold Ship
ments.

CHICAGO, June 23-It was a rather quiet
day in wheat. The conditions at the open
ing were mostly bearish. The weather map
showed, and private dispatches confirmed
the fact that the weather throughout the
winter wheat belt was clear, and that the
conditions for harvesting were favorable.
Cables were weak, Liverpool quoting prices
l9d lower. The weather abroad was also
said to be fine. Along with these items of
pearish intelligence came a statement that
the amount of wheat on ocean passage had
increased nearly one and half million
bushels. This was questioned, and, after a
time, correction came, saying that there
was decrease of that amount, instead of an
increase. This put quite another face
on the matter. Then dispatches were
received saying that sixteen boatloads had
been taken at New York for prompt ship
ment, and that 10000 bushels had been
cleared from New Orleans. There were some
evidences in the pit for nervousness among
some of the July shorts, including even
such heavy and pronounced bear as Pard-
ridge, who was reported as engaged in cover
ing in a very quiet and unstentatious way.
The fears of the shorts in the face of fiatter-
ing crop outlook are the result of the light
offerings the constantly decreasing domestic
stocks, the steady export movement, and
the fear of manipulation. There may or
may not be good ground for suspicion in the
last named futures, but with July at the
threshold, and not enough in store i'll all the
elevators in Chicago to cover a healthy line
of shorts, those having outstanding con-
tracts for that month are inclined to wade
ashore and not take the chances. The dispo-
sition among the longs was also to get out of
the July deal, and their offerings let the
shorts down easily. July opened at 94lsc,
sold to 94c. hung for a time around 941SM
94Ac, advanced to 945sc, dropped 10 $3.50.
ba OK 10 SIC, later sagged again, this time
touching 93lsc on later cables and closed at
93l2c. Corn opened quiet, and developed no
special features during the day. There was
at times good demand for July, which re-
suited in an advance, as the offerings were
only moderate but the long futures were
offered freely, and the tendency was to
weakness July shorts seemed disposed
to even up, and at one time the
month was &c over September, the general
difference being 3l203s4c. The receipts
were considerably in excess of the estimates.
July started at 54s4c advanced, fluctuated
between 55&554c, touched 55l2c. broke to the
opening price on the announcement of
heavy estimated receipts for tomorrow,
sagged to 5414e with wheat and clofed at
54ssc, Oats were fairly active. Shorts COW
ering made strong opening, but the mar
ket weakened with other cereals later. July
started at 555sc sold to 36Ac, off TO 35I2c and
closed al that. Provisions were rather quiet
the early strength in corn. There was a sag
ging in prices all day with a few reactions.
and the close shows q loss of 12l2@gl5c in
pork, SC in lard ana sc in ribs.
The leading futures ranged as follows: