St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-05-24

CHICAGO, May GA surprise was in store
for the spectators today-tte biggest weekly
decrease ever reported in the records Of the
visible supply of wheat. 1t caused sharp
recovery from general decline in prices
caused by the sudden general Improvement
in the weather. Nevertheless, compared
with Saturdays closing. everything on the
list is lower this evening-wheat s4c, corn
1ssc. oats a4c, pork l2l9c. May corn is nom
inal and shows a decline of l0c.
The signal service map was the first thing
that attracted the attention of operators. 1t
showed that the weather everywhere was
splendid for the crops ami for farming opera
tons. There were only two points west of
Chicago where any rainfall was reported,
and the barometer indicated q continuance
of these conditions
Values were still further demoralized bv
drop of l2d TO Id reported in Liverpool and Il
sharp rn-dOwn in domestic markets. Long
wheat was freely liQuidated, and the bears.
who have been held in check by the bad
weather, sold short freely. and there was a
gradual drop of lHc from the closing figure
of Saturday. Partridge was not doing
much
There was some good buying by those who
put out short lines on the recent bulge and
were inclined 10 take Profits. Purchases by
Logan, Schwartz-Dupee and Milmine- Bod
man were largely covering of short sales
HuuO FTluay anu NdluTUHN. uC NlSlDlG sup
ply, it was thought, would show good de-
crease of anywhere from 100000 20 2.000,0 900
bushels, but the report of the lakes was the
last in, and when that was posted showing
q decrease of nearly i.0U0.GCO bushels. and an
aggregate decrease of 4.5J4,0G0 bushels, the
market took Il sudden jump of Isc. But the
advance was met with news OF big Indian
shipments-2,2 00,0 600 busheis-and a rumor
that the worlds shipments to Europe were
over S.000.0a0 bushels. The opening was
an In yuc than IN olOSipU
ruled weak and declined lsc more, then raj
lied llsc, again easad off s4c Mt the close.
Corn was weak and lower on the fine
weather, the marked improvement i'll the
grading and the free realizing and short
selling. The May deal looked to be on the
point of collapse: the short interest was ap-
parently largely eliminated last week, and
there was not much wanted today while the
realizing by the longs was heavy. There was
considerable talk of large settlements by
shorts on private terms. Initial trades were
at ia @2c decline from Saturdays close, and
further weakening of 6s@S4c set in, prices
advancing 1ls@lAc. easing off later lac
There were no transactions i'll May corn I'M
til about fifteen minutes after the opening,
when Baldwin took from Hess 10000 bu at
Csc. or &c lower thac nominal value of the
article at the close of the market on Satur-
day. There were few sellers who cOntin-
ued to offer May at lower and still lower
prices until il finally touched &c. Royden
Il Co. were the most conspicuous of those
who bad May corn to sell during the decline.
but altogether the amount OF it which
changed hands probably did not exceed
10O,00J bu.
Oats were traded in fairly and an unset
tied feeling prevailed. The market opened
weaker and S4@lc lower, and declined A@
sSc more in sympathy with wheat and corn,
but when they advanced and the visible sup
ply statement came in Il firmer feeling de-
veloped and prices advanced 5s01. The
close was steady.
Notwithstanding firm ness in live hogs at
the stockyards provisions opened 2l2@5c
lower than Saturdays final figures on reports
of fine weather. The offerings of pork for
September delivery by prominent packing
institution drove the market down several
points, but lard and ribs scarcely participated
i'll the break. The decline in grain wasialso
n strong element in producing weakness.
" hen wheat advanced on the visible supply
figures, provisions became dull in sympathy,
the local crowd, who had bought early, rush
ing in to cover. This was followed by a
slight reaction. the market closing steady for
pork, firm for lard ard strong for ribs. r.
Lake rates were easy at lac for wneatland
1l2c for corn to Buffalo. The estimated re-
ceipts for tomorrow are: Wheat. 100 cars;
corn, $50 cars: oats, go cars: hogs, $1,000.
The leading futures ranged os follows.