St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-10-31
A DECIDED DECLINE.
Speculative Business Was
Good at Chicago, but Ce-
reals Fell Away.
Wheat and Corn Suffer in the
Slump and Pork Is Also
Lower.
Confirmation ofRussian News
Was Lacking and Offer
ingS Heavy.
Little Animation in Trading
on Wall Street, but a Few
Losses.

CHICAGO, Oct. 30.-There was a decided
drop in wheat to day. but in the aggregate a
good speculative business was transacted at
lower range of prices. There was more dis
position to sell, and good deal of long
wheat was closed out. The offerings to-day
comprised considerable wheat bought yester-
day for an expected advance on the Russian
news and dry weather reports. But there
was no confirmation of the Russian news
about prohibiting the exports of grain, and
there were indications of rain in different
sections. and it was this which caused the
change in sentiment and reaction in the
market
New York advices claimed that the CONT
nent was selling there and other advlces said
that foreigners were buying. The export de-
mand is not up to expectations, the clear
ances yesterday were small and only moder-
ate ali through the week and another liberal
increase III the visible supply is expected
Gables were higher. but did not appear 20
nave any more than temporary effect upon
the market. The weather bureau reported
indications of colder weather but 1t was
cloudy here, and St Louis wired it was rain
ing in some sections of the winter wheat dis
trlcts. and also sent in selling orders. Beer
bohm is credited with saying that partial
or total prohibition of grain from Russia was
likely. 1t was also claimed that the German
cereal duties.
New York reported 300 Doat loads taken for
export. The export clearances aggregated
from four ports 263. 600 bushels wheat and
flour. Arrivals in One Northwest were lib
eral. Receipts at Duluth were 81 cars. and
Minneapolis 49S cars-a total of 1889 cars,
against 1858 cars yesterday, and $50 cars
year ago Local receipts were 30i cars, Of
which ITO cars were of contract grade. With
drawals from store, 5000 busnels. Receipts
at all points aggregated 1861, 3 bushels, and
shipments from same were $4,000 bushels
The export clearances from four ports were
42.5oJ barrels OF flour and I,6l4 bushels of
wheat.
The opening was about the same as yester-
day. closing to 1s1Ac higher, but became
weak and declined Ic, then advanced l261 SEC,
again receded, prices declining 7ac, ruled
irregular and closed about lac lower than
yesterday.
Corn seemed inclined to strength early,
and sold up some November touching 534c
early. year 45c and May 43c. But the selling
became urgent, and, the bulls failing to come
to the market s support, weakness set i'll. and
finally resulted in hard slump. November
went off to 5l5sc, year 447sc and May to 42l2c,
changed slightly, but these were the ruling
prices at noon The weakness i'll wheat was
an important factor in weakening corn.
The market reacted some during the last
hour on free covering by shorts to secure
profits. October went off TO 54S4c, but re-
acted TO 55i2c; November, after selling down
to 5i5Sc, reacted to 52SRc. and at l O'Clock was
52l5c; year, which sold off to 447sc, reacted to-
45Ssc, bat eaSed OF TO 45c. May held steady
at 42l20lt55sc.
Oats were quiet and easy, owing to the con-
tinued liberal receipts AID the weakness i'll
corn and wheat November sold at 3G@c30lsc,
and May from 3l34c to 3ll2c. The market
tor oats showed little change during the last
hour.
Hog products were decidedly lower,
largely in sympathy with the weakness in
the grain pits, and there was also some raid
ing by the bears. January pork sold early
up to S1l.25, but broke 10 Sll 05, and at IL
clock was S1l.07l2: January lard sold from
$3.50 to S6.15, and January ribs from So S2l2
to 1915. During the last hour there was a
big slump i'll hog products. Pork declined to-
5000 tor January. lard to S605 for January,
and ribs to S567l2 for Januery.
The leading futures ranged as follows: