St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-11-03
PRICES SAGGED DOWN
On the Chicago Board of
Trade Cereals Are Fpac-
tionally Lower.
Heavy Speculative Offerings
Of Wheat Caused a Sharp
Break.
Corn and Oats Irregular, But
Hog Products Active and
Higher.
The Boston Bank Failure En-
-livened New York Trad
ing a Trifle.

CHICAGO Nov. 2.-On the whole range the
feeling developed to-day in the wheat mar
ket was weaker and f1uctuating. due to various
causes. The drought continues, although it
is cloudy nearly ell over the winter wheat
country, but indications were generally for
colder weather. This, together with high
cables and report that the Russian govern
ment had prohibited the export of all grains
except wheat had the effect of holding the
market pretty steady during the early part of
the day. But the speculative offerings were
quite heavy toward noon-larger than the
demand would absorb-and the result was
sharp break in prices
Cables were stronger. Liverpool was l20
lad higher, and London cargoes A6l2d
higher through private sources. Mark Lane
was reported a shade dearer. Stock of wheat
decreased 275, 900 bushels. and of -four Il, 900
sacks. New York reported thirty loads of
wheat taken for export and the clearances
from four ports ag ;regated 752, 009 bushels,
rather larger than for some days. The visible
supply did not show quite as large an in
crease as was generally expected, being only
1.AS9, 600 bushels larger than last week. A
year ago there was ali increase of 100000
bushels. The aggregate supply was reported
at &c. 2232. 001 bushels, and q wear ago was 81
225,UJ0 bushels. Domestic markets also closed
weaker.
Arrivals in the Northwest were liberal.
Receipts at Duluth were 1924 cars and Mini
neapoliS. 693 cars a total of 1927 cars,
against |, TBS cars Saturday, and 1,215 cars a
year ago Local receipts were 342 cars, of
which 90 cars were of contract grade. With
drawals from store. 40. 1877 bu. Receipts at
all points aggregated 2,0Gi,6bS blu, and ship
ments from same were 1,431.362 bu. The eX
port clearanceS from four ports were 25. go
bblS of flour and $50. 4S bu of wheat. III adj
dltlon, New Orleans shipped 1900 bu.
Early in the session there was but little
change from closing figures of Saturday
opening sales being from the same as Satur-
days closing to lac higher. then eased off
l2(95sc from top figures, recovered again.
held fairly steady, until well toward noon.
when the market became weak under freer
offerings, and prices declined Csc, or 1hc in
all. then became stronger and the closing
was about S4lp7sc lower han Saturday.
Corn was strong and higher. owing to the
reports OF Russian prohibition and the fact
that only 80 per cent of the moderate receipts
were Of OLD corn. Shorts began to cover freely
at the start. and November sold from 52c to
5es4c, eased off. and at II O'Clock was 52ssc.
\ ear sold at 44S40 l6lsc, and at y Oclock was
457sc. May was active and strong. selling
from 426sc to 42ssc, and then al 4314c. The
market turned easy during the last hour, No
vember falling to Sc year to 45Ssc and May
10 43c.
Oats strong at 3ls4132Isc for May, but eased
on some The feeling grew weak toward
the close. and November sold to 313sc, aud
May to 31s4c.
Hog products were active and higher The
receipts or hogs were 10000 head. or 5000
head more than expected, and 5000 head
are estimated for tomorrow. But the short
interest is pretty large, and as there was very
little disposition to sell in advance to-day,
the covering soon became brisk and a sharp
advance resulted. January pork sold from
SI0.S5 10 SlL15. and at - o'clock was S11.1O.
January lard sold at Sc. 02ls to S6.l7l2, off 10
So l2l2. January ribs sold from $500 to
$40, easing off 10 S551la. During the last
hour weakness ruled, January pork selling
to SLOPE; January lard to S6.12l2 and Jan
uary ribs Off to $40.
The LEADING futures ranged as follows: