St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-07-15
AN INNING FOR BEARS
More Activity in Chicago
Trading Pits Than Usual
Of Late.
Wheat Was Weak and Bears
Worked It Down as Far
as Possible.
After an Exciting Rally, Corn
Closed About at the
Top.
Trading in Wall Street. Is
Practically Paralyzed
at Present.

CHICAGO, July 14.-Whle business on the
board of trade to-day could not properly be
termed brisk it was nevertheless much more
active than it was Saturday and yesterday
Wheat though it started higher than at the
close Monday afternoon, was weak from the
beginning. The news was about all in favor
of the bears and they took advantage of the
opportunity to pound the market. July was
the chief sufferer. but December sympat hiZed
with it to some extent. There was reaction
later and part of the loss was recovered. The
early weather news showed rains in some
portions of the Northwest and in Missouri
but 1t was generally clear where the winter
wheat harvest is in progress. The arrivals
of new wheat were about 30 cars more than
had been estimated and the quality
continued at the high standard set by pre-
vious arrivals. Cables were dull and easy
and exports were light. A Paris cable to
Logan said that there was an overplus of i'm
port wheat in port; that farmers deliveries
were becoming more free: that the crop con-
ditions were good, ana that the outlook -here
was not favorable to higher prices unless
American wheat growers should carry out
their threat to combine and hold their grain
The result of this combination of weak
news was to stimulate the selling. and as
there was not enough demand TO absorb the
offerings, the market gradually weakened.
December was at SSc for moment near the
start, 1iuctuated narrowly with downward
tendency, finally touching S1S5c. AT that
point q decrease of 600, 100 bushels on ocean
passage was reported, the estimates for to-
morrow put the receipts at 275 cars against
SOB received to-day, and at the same time corn
began 10 go up. The result was that the
downward movement in wheat was checked
and an advance started December rallied
to S75sc, but on receipt of cablegram from
BeerDohms from London, that the talk of
failure of the Russian wheat crop was great
ly exaggerated, and that Russia would have
64.000.000 bushels for export, against average
exports OF four years Oh yoOOO,0OO bushels.
the downward movement was resumed, and
the price touched S14c and closed at S1l2c.
July was the weakest, and fell from S9SSc 10
SS4c, with hardly any demand, and later to
S1ssc, closing at SIlSc. New ork wired that
cables were easier; that they were bringing
fewer buying orders, and that only seven
boat loads had been taken for export. fard-
ridge covered good deal of wheat around
S7l2c, but Cottrell sold heavily on the reac-
ton Boyden Il Co. and Baldwin were also
free sellers. TarzSs
Corn opened slightly higher, mainly on the
light offerings and smaller receipts than were
expected, but the weakness in wheat caused
temporary recession in the price OF corn
also; then came the estimate of very light re-
ceipts tomorrow; there was an active de-
mand for cash corn, and the shorts attempts
ed to cover. The result was an eXciteCS
rally, ana after fluctuating narrowly during
the last hour of the session the market closed
about at the top. September opened at slice,
declined to Size, held for a time around
Slice. advanced to 524c, fuctuated and
closed there. July started at SEC, sold at
5584c, advanced to 5Slsc, and closed at 5sc.
Oats followed the fluctuations IN corn. Pro-
visions opened strong and higher ON lighter
receipts of hogs than expected and an adj
vance of 561lCc in hogs at the stOckyards.
But free selling carried prices off some.
though there was recovery later and the
close was at insignificant changes from yes
terday's prices.
Tine leading futures ranged as follows:
Open- High Low | Clos
re NO