St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-11-11
DECLINE IN WHEAT,
Firmness Abroad Had No Eff
feet on Prices on Chicago
Change.
Lower Prices Recorded in
s7a Nearly Every Article
Traded In.
sgs
Longs in Wheat Become Dis
couraged end Let Their
Holdings Go.
Sc
Strength and Firmness Char
aeterize the Trading on
"a Wall Street.

CHICAGO. Nov. 10.-In the face of firmness
in grain abroad, prices here for nearly every
article on the board of trade averaged lower
today. There was some recovery near the
close, but wheat, compared with last night
is 12c lower. Corn is up 4@8sc. Provisions
were steady at slight decline, except Janu-
airy lard. which was scarce and wanted.
While the early transactions in wheat were
at full yesterdays figures a weak feeling
soon developed, and there was steady drop
of nearly 1c, but a fraction of this
was recovered later. English cables
came in trfe higher, and at
the start domestic markets held
their own very well. But outside of this
there was nothing very encouraging for the
bulls, ana. as prices did not go up, holders
began to lose confidence and sold out their
holdings. Some of the large operators openly
took the selling SIDE. Partridge, Logan,
Brosseau and Schwartz Dupee were the lead
ers i'll this movement and the smaller opera
tors soon fell into line. A good deal Of wheat
bought on the bull wave yesterday was put
on the market and helped to cause depres-
sion. Another very influential bear fuctor
was Bradstreets report of the available sup
ply which showed an increase during the
week of 1881, 900 blu on both coasts. Opening
unchanged. quotations fell S4@078c, rallied
Ac and closed steady.
There were free offerings In the corn pit
and considerable that was bought OH yester-
days bulge was thrown overheard, while
short selling was also quite feature. There
was good demand for December at the
start from Shorts while May was more
freely offered and sold off slightly, while tine
tirsl-named month advanced. The decline
covered all futures as the day advanced
there being quite free realizing, which car
ried prices off sec, large local holder
being credited with moderate sales. At
fnA RI 1,,,t,
the car lots for tomorrow coming i'll light
at 10 cars. local traders started in 10 buy
which advanced the price 4Sc, but did not
hold, as offerings were being considerably
increased. 1t rallied afterWard and closed
with near futures lS1Ac lower and May SSc
higher. Sibley spread and the government
crop report were both subjects of active dis
cusson.
There was good trade in December and
May oats, particularly in May, and weaker
feeling prevailed most of the day. Prices
fiuctuated freely within 34crange and the
close was at slight gain over yesterday.
There was Ii eral buying by parties who
were closing out spreads between here and
New York, and also good selling by elevator
men.
The provision market was quiet and easier
early i'll the session, but firmed up on the
call and recovered its former bullish tone
later i'll the day, Armour WAS reported to be
q moderate buyer of lard and a rather free
seller of pork. Ribs were comparatively ne
elected. The hog market was reported easier
but the receipts were not such as to alarm
the longs. The most noticeable feature of
the trade was the buying of January lard by
Hately Bros. January lard, compared with
yesterdays closing is sc higher. January
pork is ~ lower, and January ribs 712c lower.
Freights were steady, with fair demand
for vessel room at 2S4c for wheat and 2l2c for
corn to Buffalo Estimated receipts for to-
morrow: Wheat, $50 cars; corn, PIG cars
oats, l65 cars: hogs, $4,000.
The leadin futures ranged as follows: