St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-08-02
SLOW TO SPECULATE.
Talk Of the Great Yield Of
Crops Causes a Drop in
Prices,
But Very Little Wheat Was
Bought or Sold on
Change.
Corn, Oats and Provisions
Were Dull and Without
Feature.
Moderate Activity and Strong
Tone in Wall Street
Markets.

CHICAGO. Aug. Talk of great crops
cereals on the floor to-day caused quite
luxuriant growth TO the local bear crop, but
when prices had declined under the weight
of the conjectured years yield, it was found
that it was not all for sale. In fact, not as
much of it as was wanted toward the close,
and this latter phase of the deal was the pre-
vailing feature of the last half hour. A
short session here and holiday in Liverpool
predisposed the spectators to go slow. Trad
ing was very light. but there was a nervous,
unsettled feeling which kept the crowd close
TO the trading pits while the session lasted.
The market for wheat started apparently
firm but in reality weak. as shown by an
almost tumble i'll December from S9ssc. the
opening, to S98sc The market for wheat
opened firm, if judged by the price paid for
a few lots in December wheat at the instant
of starting. and it was really very weak, as
shown by an immediate tumble TO S9gSc
Having sustained the loss referred to, the
traders became shy of each other. both buy
ers and sellers became scarce and the price
almost stationary for long time The pri-
Vate dispatches from Paris reported weak
ness and a decline there, owing to improved
weather. December finally reached S9l6c,
but later in the day the news began to come
in more favorable for the friends of wheat
New York was said to have taken 121 boat
loads yesterday and TO have cleared 2S5, 900
bu to-day, though 100000 Du of wheat and
5000 sacks of flour and Bradstreet's reported
the clearings from both coasts for the week
OF 3 l64, 600 bu. Under this sort of tonic the
market braced up. December going up g2c, or
to S95sc, but soon had a relapse and sold back
10 S9ssc. reacted 4c, and at IL o'clock was
S95sc against S9s4c al the close Yesterday
Corn was about as dull as wheat, and quite
as steady until near the close. when it sold
up cent on bad weather in the West. The
local receipts were about eighty cars less than
y ~
weather in the interior more favorable. and
dull narrow trade, the market was inclined
TO weakness. The trading was scattered and
without any significance. The big receiving
houses were the best sellers. Near the close.
however, the market made a rally of nearly
cent september opened at 56l20565sc,
sold to 567sc, then off to 56SSc, reacted to
5714c and at the close was about 57lgc.
Oats were quiet; September rose to &c
premium over August. The local receipts
were about fifty cars under the estimate. Au-
gustsold srom 21s4c to 277sc, and at 10 o'clock
was about 27s4c. September at the close was
274c May sold at 31l314c. Hog products
were excessively dull and lower. The re-
ceipts of live hogs were 1900 below the esti-
mates, but the prices at the stockyards were
unchanged. The weakness in grains how
ever made weak market September pors
sold from Sll.45 down to SIl 40. then I'D &c
S1147l2, eased off and closed at about 81 IS
September lard was dull at S6.67l2016 10. and
at II o'clock S6.61I2 was bid. September
ribs sold from S6.97l2 TO $3.50, and closed a.
ST. 92l2. Estimated receipts for Monday
Wheat. go cars; corn, $40 cars; oats 80 cars
hogs 1900.
Wheat receipts for the week, 2o0G, 900 bu
shipments. /, 100000 bu; receipts for the same
week last year, 4S5000 bu; shipments, ZIG,
Geo bu.
Cash quotations were az follows: Flour
Quiet and steady; winters, 81 1901 60
springs, s.. 30G5. 10; rye, s.. 1904. 81. Whea
Mop spring, S7AGlS7ssc; No. g spring nom
inal; No. red, SSc. Corn-No. g Soc. Dat
No. .. 27s4e; No white, 2Sl29c new: No
3.white, 2SG32c new. Reno. 9. iiew, 73lsc
Barley-No. = nominal; No. &. no.aiae!; 40