St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-07-10
DULL, WEAK TRADING.
This Tells the Tale Of the
Action in the Chicago
Wheat Pit.
Nearly All the Business Ac-
complished Was Local in
Character.
Corn Was Lifeless, But Oats
and Provisions We're
Quite Brisk.
No Change in the Stagnant
Condition Of Affairs in
Wall Street.

CHICAGO, July o--Wheat was dull and weak
to-day, and most of the business that was
accomplished was of local character. The
preponderance of news favored the bear side.
Liverpool reported prices I'D lower. Lon
don quoted cargoes to arrive within one
month Sd lower, while those due in two
months were Is and Cd lower. The weather
throughout the district where harvest is III
progress was fine. The Cincinnati Price Cur
rent in its weekly summary of the crop stu
alton, reported all the recent favorable lnd1-
cations fully maintained, and that thresh1ng
was being pushed by the farmers in order to
get the grain quickly to market, in order to
take advantage of present values. This led
to belief in heavy receipts at an early day,
and started holders to unloading, and slim
ulated the shorts selling. The Price Current
estimates the deficiency in the European
wheat crop at 160000,000 bushels. but says
that with our big crop, no greatly enhanced
prices can be expected as the worlds supply
will probably fall short of the ordinary
aggregate consumption only three per cent.
ST. Louis reported $4,000 bushels OF new
wheat received there to day. Toledo's re-
ceipts were also reported heavy while chicago
got eighty-tN cars of new wheat, Win sixty
weak market and prices finally made SHARP
decline. The export movement however,
was reported liberal New York alone send
ing out over 100000 bushels of wheat and
-four while the three ports cleared over
100000 bushels. At the start, the buying by
Logan and White, on New York account kept
the market toleraDly steady for time: then
ST. Louis began to sell, mainly through Logan
and Partridge began to put out
liberal short line. The market rallied some
about noon on a report that sixty boat
loads had been taken at New York for ex-
port Henry CleWs sent Il telegram saying
that there was no room TO doubt that tne
Russian wheat crop would snow large ae-
feiency. Late cables reported some decnhe
at Paris, but prices higher at Berlin and New
York, wired "a good continental demand
with unfavorable weather in Russia. Estlm-
ated neavy receipts for 10 morrow. indicating
the forwarding of some OF the new crop,
proved check on any decided bull move
ment December opened at S9lsc, eased off
some. but held for long time between eo4sc
and S0lsc, then broke to SSl2c, recovered TO
S9lsc, held steady for time. advanced to
S9ssc but weakened again and closed at e9c
Corn was weak from the start, and Sep
TENDER sold off nearly 1c from yesterdays
close. The warmer weather improved crop
prospects and the weakness in wheat were
weakening factors. The offerings were gen
erous and, while early sales were very close
TO the resting price yesterday. the weakness
increased and buyers reduced their BIOS.
Gables were reported to be lower, and the
cash demand less active and at lower prices
In the afternoon the market was tribe
firmer in sympathy with wheat, but eased off
some toward the close. September started at
52lsc sold at 52Ac broke to 51ssc, reacted to
SIC. and closed at 517sc Oats were fairly
active and steady for July, but ranged some
what lower for August and september. FRO
visions started firm on some good buying.
Smaller receipts of hogs than expected, and
some advance in price at the yards. Later it
weakened IN sympathy with corn and
wheat September opened at 5000. ad-
vanced to 10.32I2, sold back TO S10.9212 and
closed at S1027l2.
The leading futures ranged as follows: