St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-09-29
Yesterdays Opening and
Close Was a Cent Lower
Than Saturday.
Rains, Large Receipts and the
Visible Supply Aided the
Weakness.
Corn Is in Demand, Prices
Firm and a Good Advance
Scored.
Missouri Pacific Deals En-
livened Early Trading on
Wall Street.

CHICAGO, Sept. 2S.-Wheat opened and
closed about 1c lower to-day than the final
price Saturday. During the session the price
huctuated both above and below the open
ing. but the tone was generally weak and the
market dull. The news was generally I'M
favorable to holders Cables quoted the for
eign markets lower. both on the continent
and in the United Kingdom. and the domes
tic markets were all tending downward. The
home situation had many elements of weak
ness including the rains in the winter wheat
belt, the big receipts in the Northwest and a
very large increase in the visible supply
The receipts at Duluth and Minneapolis
aggregate nearly LOO carloads; the receipts
at eleven leading points were 1885 BUSH
els. and the shipments 1, 75S 900 bushels The
visible supply was increased to an unusual
amount making regular seven private ele-
yators containing 1,252000 bushels which
have not heretofore been included in the re-
port The receipts here were over 100 car
loads above the estimate. and the seaboard
export clearances were light. ALI this served
to weaken the confidence OF holders, and
there was free selling of long wheat but
the demand was quite sluggish, and an easy
feeling prevailed. The short selling was
rather free, though not very aggressive Puts
held the market good portion of the day,
as there was liberal buying against them.
Hutchinson's brokers sold rather freely
early and Logan had free selling orders from
New York but on the weak spots Schwartz
Dupree and Hopkins were good buyers, while
George Smith also bought good deal ana
Hutchinson also took back large portion of
his early sales. December opened at 967sc,
sold to 971sc. receded to 96ssc advanced
to 96S4c, at which it held for a con-
siderable lime. then, during the last
hour, weakened to 96Isc, nut there was
good buying at the decline and corn turning
very strong and consols making a drop of
5-16c, there was a stronger feeling, December
selling at 96s4c and closing at that price bid.
Corn was in good demand, but offerings
were rather light and prices firm and grad
ually higher. The receipts were about as ex-
pected, but nearly everybody seemed to be
looking forward to small arrivals during tn e
coming months, and shorts were inclined to
cover. The decrease in the visiDly supply
was also a strengthening factor. Shippers
were bidding sharply for cash corn which
helped futures. The cash corn seems to have
gone into strong hands, and is firmly held or
is being shipped without going into the mar
Bet. October opened at 49s4c sold up to 5Ussc,
eased off 5o4c, advanced to 5Os4c, then
just after the noon hour became very
strong, shippers bidding uD the price
of cash corn and October followed. shorts
being good buyers; October sod to 5Il4c
eased off TO 50s4c, rallied to slice, and closed
at 5l8sc. Reports of a brisk export movement
at New York assisted the advance.
Oats were easy owing 10 heavy receipts
and, with fluctuations confined to Isc closed
unchanged
Pork was in fair demand, firm and higher
There was report from New York that ad-
vices there indicated that I rance would soon
remove the prohibition on american pork,
and that Italy would also soon extend well
70 0nrIn hfp IN
shorts to cover freely
The advance in corn was also felt in the
provision pit. There was slight recession
in the price of hog products during the last
hour but the close was at small advances
over the final prices of Saturday.
The leading futures ranged as follows: