St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-10-21

WHEAT ISSTILL WEAK.
Yesterdays Opening Was
Low, and the Closing Fig
ures Lowest OF All.
The Cause Was Weaker Ca
bles, Free Selling Orders
and Good Weather.
Corn Moved Up Strong, but
Part OF the Gain Was Lost
Before Closing.
Small Volume Of Business, but
a Firm Tone and Slight
Gain in New York.

CHICAGO, Oct 20.-Wheat opened a small
fraction lower this morning than the closing
figures last hi ght, but soon strengthened and
sold up S4@7sc, eGsed off slightly above yes
terday S close, then, IN the last hour, made a
decided break and closed weak at the bottom
figures of the day. The weaker opening was
attributed to q weaker tone in the cables and
to rather free selling orders following the
weakness of yesterday. The continued
favorable weather for threshing i'll the North
west was also weakening factor. But the
offerings were readily absorbed, and there
were free buying orders in the mrrket from
New York.
Otner strengthening features were the
light receipts at Minneapolis and Duluth,
which together got only 925 cars, against
2,130 cars yesterday. the good seaboard ex-
port movement and the reduction of 10000
bu in the amount of wheat and flour on
ocean passage. These, together with the
New York buying, scared the shorts, who
began to cover. Logan, Lamson and Mil
mine. Bodman were good buyers early in the
session, with Kennett-Hopkins free sellers.
McDougall sold good line on the advance
and some of the early buyers also let go.
Partridge covered some of his wheat early,
but put il out again on the advance.
December opened at 96lsc. against 9GSsc at
the close yesterday. advanced steadily to
9G34c, sagged off To 96lsc. and held steady I or
a time around 96l2c. AT about noon there
was sharp rally, during which 97c was
touched tor an instant. Then whole batch
of weak cables came in bunch Berlin was
quoted I@o2 marks off, Liverpool ll1?d lower,
Paris 30 centimeS and Antwerp p censlmes
lower On this there was rush to sell, aud
the bottom went out. December tumbled to
and closed at 94asc.
Corn was strong during most of the ses-
SION, especially the nearby futures. OH ac-
count of the decreasing stocks of old corn.
Stocks are low. only about 100000 bu of con
tract grade being now in store, with good
demand for cash corn ana the current re-
ceipts rather light. The old bull clique, led
by Bartlett-FraZier, was helping the advance.
Poole Sherman was about the best individual
buyer. but the shorts generally were anxious
and trying to cover. Near the close,
however, when wheat went to pieces.
corn broke in sympathy with it, and
closed slightly higher than on yes
terday. November opeoed at 4Sl4 and sold
up TO 49sSc; but when the slump came
dropped 10 4S5sc. at which il closed. Oats
followed corn in its fluctuations and closed
with an advance of 14@l2c on the near fut-
ures
Hog products were also under the in
1luence of the corn market, being firm during
the forenoon, and weak during the after
noon. The fluctuations were confined TO
moderate range. and the close shows loss
i'll comparison with yesterdays last prices of
5@2Cc in pork, 5@7l2c in lard, and 50lOc in
ribs
The leading futures ranged as follows:
open High Low Clos
ARTICLES. ing. est est. ing.