St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-09-26
WHEAT LACKS GINGER
Little Encouragement Of Any
Kind for Friends Of the
Leading Cereal.
Partridge Secured His Prof
it's, Ream Did the Same
and Every One Sold.
Corn Strong, Active and Dis
playing a Tendency to
Move Upward.
Wall Street Dealings Still
Unusually Active in All
Stocks.

CHICAGO, Sept. 25.-Wheat ruled lower and
weak to-day. The news was generally bear
ish. and the friends of wheat found but little
encouragement from any source. Cables
were weak and lower. New York also fell off
nearly 1c, and all the other domestic markets
were lower. Local receipts were in excess
of estimates, and the deliveries IN the North
west were large. being over LOCO cars. while
rains were reported i'll the Southwest, which
has greatly improved the prospects for fall
seeding. Additional bearish features were
the reported failure of prominent grain
house in Antwerp, and purchases of wheat
for future delivery there and at Paris were
said to have been Cancelled and thrown back
on sellers hands.
Exporters who bought freely at New York
yesterday were said to be reselling to-day at
loss, while speculative longs we're llqui-
dating freely. and short sellers were bold and
active. December opened at 977sc. against
9Slsc at the close yesterday, sold down to
97Ac, then, on free buying by shorts to take
profits, rallied to 9734c, eased off some, adj
yanced again during the last hour on re-
neWed coverings by shorts, going up TO 9SI4c,
but did not hold the advance, receding in the
last few minutes, and closing at 91l2c. The
final weakness was due TO let up in the
short demand and to late cables quoting Ber
lin lower and Paris and Antwerp unchanged
line of short wheat but Ream sold short on
the upturn and bought on the weak spots,
New FORK and Northwest were free sellers.
Corn was strong and active. The opening
sales were at q slight decline compared with
yesterday, but the demand was rather sharp
the local receipts smaller than expected and
the estimates for tomorrow light. There
was a steady advance in values for some
time, but the market eased off some. Shorts
covered freely, shippers were active buyers,
but there was good speculative buying.
Poole, Sherman, Congdon d Co., and Bartlett
Frasier were all good buyers and offerings
were light October opened at 4Ss46149c, sold
to 49q2c, broke to 49c, rallied TO 497sc, eased
off some then grew strong again, advancing
to 50lsc during the last hour, the purchases
Of shippers and some leading commits
sion houses driving the shorts to cover.
The close was at 49SSc. A telegram
from New York saving that much of the s.
V. White d Co. cash corn had been taken for
export, and that the rest of it would not be
pressed for sale, was strengthening feat
ure. In fact when some OF that corn still in
this market was offered here it was readily
absorbed.
Oats were quiet, firm and steady, with the
usual narrow fluctuations as Of late. Hog
products were weak and lower in the early
trading owing to short sales OF pork by
Ream, but the market grew steadier during
the latter part of the session as the opinion
became prevalent that Ream's sales were for
the purpose of making a soft market to buy
on and that he bought literally through
brokers. The close shows loss of 7I2(D12I2c
in pork. 10c in lard, and 1G@22l2c in ribs.
The leading futures ranged as follows