St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-07-30
VERY SHAKY Market
Trading in the Chicago Wheat
Pit Wobbly and Uneer-
tain.
After Narrow Fluctuations, a
Low Figure Marked the
Closing.
Corn, Oats and Provisions
We're Strong and Weak
by Turns.
& Generally Weak Tone Pre-
vailed in Wall Street
Dealings.

CHICAGO, July S9.-The wheat market was
wci blv today. TIE news was not Of char
acter to give ii decided impetus in either
direction. so it veered up and down within
comparatively narrow limits, according to
The temporary temper of the pit, closing near
ihe lowest prices of the day. December
opened a o Il c against 99l2c at the close of
Yesterday. Cables were somewhat conflict
.ag. Eui reported wet weather on the CONT
Gent. The weather in this country was con-
sidered favorable and receipts were about as
estimated There was a weak tendency for
81 time. but good buying soon gave the mar
ket turn upward, December advancing 10
gc5sc. the top price of the daY. New York
was strong early, and had large buying
orders here; the confident feeling there was
attributed 10 he big export purchases made
there yesterday. The local buying was led
0v Clifford. White. Logan and COunselman IL
Day The scal:ing crowd was, as a rule, dis
posed to sell. For Il time the offerings were
readily absorbed, and the feeling kept firm.
But the offerings finally became too heavy
fer the bulls. and late cables showing some
appearance of weakness abroad, the market
began 10 wobble. Then came Bradstreet re-
porting an increase of 1,525,900 bu in the
available supply last week. and some of the
leading houses turned sellers0Mllmine-B Bod
man being conspicuous IN that line. There
was a SpaSm Of weakness, under which De-
cember fell to S934c. Then private advices
brought strong London market, tirmnesS In
Paris and very unfaVOrable weather IN Rus
sia and large export buying at New York.
Shorts began 10 cover, sending December
back 10 9Ji2c. The advance was only tenn
porary. however, as later public cables con-
Iradicted the reported strength on the CONT
Eent IN the afternoon, there was consider
able pressure to sell. but as the big buyers
had flied up and Withdrawn, 1t was very DIT
hcult to place il, and weakness was the re-
suit December sold off TO S9l4c and closed
at SsI2c. Il loss Of 1c compared with YeSter-
day. close.
Corn was weak early. owing to an excess of
selling orders over the demand. The con-
timed fine corn weather induced the longs
10 throw over their holdings especially in
view of the fact that the shorts had APP
paTtntly about covered their deals. Starting
at 5S65SI2c. September sold off to 575sc. and
rested for a time at about 51S4c. Later on,
wheat making partial recovery, corn rallied
some, September selling back TO 5S14c, then
broke TO 57l9c. There was a little squirt IN
July. caused by an attempt TO cover a small
short line, and il sold from 6ll2c up to 64c,
while September was on the down grade.
There WAS a reaction later. and ii sold to &c
and closed at &c. In the afternoon Septem-
Der was very weak, and finally touched 56Ssc.
Selling against puts disposed OF yesterday at
SIC demOraliZed the market when it reached
that figure. Toward the close there was
rally, and the close was at 5714c, against 5S5sc
yesterday.
Oats were weak during most Of the session,
in sympathy with wheat and corn and De
cause of rather heavy receipts, of which $50
ears were new. Provisions were weak i'll
sympathy with grains during a considerable
;,ortiou Of the day. The opening for pork
was slightly lower than yesterdays close. but
the loss was quickly recovered. Then there
was a recession TO a point 15c below the
opening. followed by an advance to the high
est points OF the day, and then another de
cline to medium figures, at which il closed.
Lard and RIBS were somewhat frmer and
closed al about the opening ngures.
The leading futures ranged as follows: