St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-08-05
ALL CEREALS HIGHER,
A Genuine Scare Is Developed
Upon Both Corn and
Oats.
Wheat Goes UP, Too, in SYM
pathy, and Closes 3-4c
Higher.
Pork Takes a Jump, and Is
Now 20 Cents Higher All
Round. /
The Stock Market Opens Act
The Stock Market Opens Act
i've, But Drops Into the
Old Rut.

CHICAGO, Aug. 4.-The troadest and strong.
est trading for many weeks was witnessed
today on the board of trade Corn and OATS
were excited, the crop news develo ping a
genuine scare. Wheat went up in sympathy
closing S4c higher than last night. Corn
gained 1ssc, oats 1l2c, and pork zoe. The
corn trade had lively day, the market
started nervous and prices were up L or mure
over night on the hot weather and the hot
winds talk on the curb last night and this
morning. Some points in Kansas had
temperature Of about 100 deg for little
time yesterday, and the dispatches quickly
raised the cry Of damage to corn. Kansas
City messages this morning said the situation
was growing daily worse. Other stories were
to the effect that corn was heading in
many sections while only three feet high
On the early advance there was free realiz-
ing and drop of sSc from best prices all
around. The Price Current comment was
bearlsh, saying that the average was well
maintained and the prospect generally en-
couraging. The receipts were quite liberal
AZ $50 cars. while the estimate for Friday was
light at rs. 1t was about midday that a
batch OF fresh dispatches from Atchison,
wichita. l-eavenworth and other points were
circulated saying that. with the best of
weather, the crop will be from half to three
quarters of an average. The trade was largely
short and there was a furry instanter.
From the low point of the day prices
were advanced about 34c all around in
few minutes. Previous TO the bulge there
was some good selling credited TO Bryant.
The buying was led by Bartlett-FraZer and
Congdon. When the late advance started
there was general scramble by shorts. The
ball fever was not allayed during the re-
mainder of the session. the close being at Ac
from the top for the day.
A heavy business was transacted in oats
| tendency n nCr,in
terday was continued with Increased force
Inc cause for the activity and advance was
the liberal local and outside buying, parties
VINO handled large quantities being heavy
buyers. Their purchases were based on The
continued unfavorable tone of the crop re-
ports which are coming in from this state
Iowa. and, in fact, all the sur plus oat states
Inc threshlng returns are disappointing, the
yield per acre being 20 to IS bushels and the
weight ~ TO 20 lbs per buShel The offerings
were not large and the demand good. SO that
prices were kept on the upward course the
greater part OF the day. Opening trades were
more, then receded I2c but advanced lie,
yielded slightly and closed steady.
In wheat a firmer feeling was established
ana the market was fairly active early and
then dull, followed by some activity a
strong feeling was established at the opening
on higher cables, firmer domestic markets.
the improvement i'll the local market for
corn and oats, more liberal exports
at TIC sedDOafO, reported hot
winds in Kansas, and greater
disposition by the local crowd
! to buy than to sell. After the expiration OF
| the first hour reaction set in on estimated
heavy receipts for tomorrow, and the market
| ruled lower. 1t subsequently, advanced i'm
| sympathy with the increased strength in
| corn. oats and provisions. The opening sales
exhibited an Improvement of ssc over YES
! terday closing price. advanced shade and
! then fell off about l2c. fluctuated within The
limited range, and then advanced lc. closing
| firm.
| The situation i'll provisions is q surprise to
many who regarded the advance which
| started III few weeks ago as a Temporary
affair.
! The shipments of meats. the reduction OF
| stocks, the decrease in the movement OF
hogs. all continue beyond expectations. In
! addition to these influences The market had
help today from very decided buyng by
shorts. additional buying by the big holders,
who were bulling the market. and from the
| gram markets which were excited and
| hlgher. There was an advance from last
| nights best prices of about 22yac in pork
| l2l2c i'll lard ana 12I2c in ribs The close
was at shade from the top.
| Frelghts were firm, with fair demand al
| 2Hc for wheat and &c for corn to Buffalo.
| Estimated receipts for tomorrow: Wheat
| 13000 Ao7''
| The leading futures ranged as follows: