St. Paul daily globe., 1891-06-30
FINANCE And TRADE.

CHICAGO. June 29-Trading in wheat was
NOT very brisk to-day. and the feeling tended
to weakness during the early part of the ses-
zion. The news was all bearish. The
weather in the winter wheat belt was favor
able for harvesting operations; there were
some showers yesterday. but not enough TO IN
terfere with the gathering OF the crop: 1t was
fair weather to-day with high barometer,
and indications favorable for contln uation
of fair weather. Cables reported low ana
dull markets, and wheat was beginning 10
arrive freely at St Louis. Under these con-
ditions the demand was rather limited,
and there was free Liquidation of July.
which was comparatively weaker than the
more deferred deliveries. An attempt was
made by the bulls to check the downward
tendency by circulating a story from Ne"
York to the effect that the injury to the Rus
sian wheat crop was so serious that grave
alarm was felt in that country, and that
there was talk of prohibiting the export of
breadstuffs. But as all the private cables
continue TO quote increasing weakness and
n growing Indifference among buyers the
dispatch was quickly voted fake, and eX
cited but little influence. Later in the day
twas noticed that there was an increase OF
demand for December, partly IN the way Oh
Investment, and partly TO cover shorts' anu
prices hardened Pardrldge covered Dig
line, and Cudahy also took IN several larSe
lots July improved with December. ana the
general strength was increased by the sharp
up-turn in corn, the fact that the increase Ill
the visible supply was larger 'haH
V White, Milmiue & Bodman ana
Schwartz -Dupee, supposed to be short Wneat
for the account of New York men. me snip
melits from New York last week were heaVy,
aggregating 97 boatloads, most OF whlch.
aside from q loads for Antwerp Went 10
British ports Late cables quote Paris 2oO50
centimes lower on wheat; LNerPooi, 10
lower; Berlin lower. and Antwerp demoraI-
lied. July opened at 90Ssc, against 9J1Sc Ut
the close Saturday, sold OFF to S94sc. back 10
q SIC up to 907sc, and closed at gOlSc Corn
started slow and weak. on fine growing Weatn-
er. but when it was known that the receipts
were nearly 100 cars less than expected, Il
sharp demand sppng up from the
July shorts, and, with good bny-
ing led by Congdon, Boyden
and Harvey. there was sharp up-turn OF
fnliV c from the lowest point, tnougn part
of this was lost. Baldwin Farnum bought III
a good line on the early depression, but then
sold freely on the subsequent decline But
the feeling continued nervous ana the casn
demand becoming brisk and the prices hlgh-
er the shorts became excited, and July was
quickly bid up cents from the low point
early, and September advanced l$sc rms
was followed by Il period OF weakness, ac-
companed by a considerable recession IN
values July opened at 5lI5G5ls4c, against
5ls4c at the last price Saturday. advanced to
535sc, sold off TO 53c and closed at that Oats
were nervouslv strong, especially for July.
There appears to be a liberal short interest
i'll that month and the buying in started the
market Other futures followed suit. Bnck,
ley was good buy er most of the cay ana
Pratt also took on a good deal on fiuctuation
in July. which confined to range of 3SA0
c335sc, closing at 327sc. Provisions were firm,
partly i'll sympathy with the strength in grain
and partly from the light receipts OF hogs
and higher prices at the yards. Opening at
SIo1O. the final price of Saturday, September
pork touched Sl607I2, advanced to $40. 40. re-
.ceded to S10.25 and closed at 5000. Lard
and ribs followed the fluctuations in pork.
The leading futures ranged as follows: