St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-08-02
SLIGHT GAIN IN PRICE.
Postponement Of the Hatch
Bill has a Good Effect
on Trade.
Bearish Crop Prospects Offset
by an Unexpected Report
on Visible Supply.
Offers to Buy and Little for
Sale Cause FirmnesS in
the Corn Pit.
Heavy Trading, but Very Lit
tie Change in Provisions
stocks Dull.

CHICAGO, Aug Wheat and corn are
trifle higher tonight than Saturday evening
Good growing weather prevented buying
enthusiasm. although the country took an
active nibble at corn. Provisions are about
unchanged.
The thing uppermost in the minds of trad
ers was the action of the senate i'll deferring
consideration of the Hatch bill until Decem-
her, In all markets the first result was bet
Ter support and higher prices. Wheat showed
about Ssc improvement. Then the great re-
ccipis at ST. Louis and the prospects of an in
crease of 100000 bu in the visible supply
gave the price a setback to the opening fig
ures. Later the visible supply did not in
crease as expected, and the total enlargement
OF stocks fell below a million bushels. This
rescued the market from the natural dep:es-
sion resulting from the very bearish crop
prospects. st Louis dispatches reported Il
million bushels or more wheat delivered
here.
There were no deliveries here or in New
York. The Kentucky and Nebraska wheat
estimate was bearish showing great crop.
while Prime was quoted as saying that the
-hortage in Ohio will be 70 per cent, Mlchl-
gan %. and Indiana 30 to 35 per cent while
The majority of the reports from the North
west spoke of good yield for Minnesota and
south Dakota. The poorcrop talk was con
tinucd about the Red river valley, and the
fear of frost damage later was expressed.
The Austrian crop is estimated at 10000, 000
u, against 124.000.00G BIZ last year. New
York today reported the export takings of
grain there and at outportS as amounting to
- boatloads of wheat and 10000 bu of mixed
1ats.
The opening here was about 1sc better
than on Saturday. with prices subsequently
fuctuating within Ac range. the market
closing with an improvement of lsc.
There was good buying of corn, chiefly
% cover shorts put OH the recent high prices,
but there was also some investment buying,
Cutter Il Co. had big line Of buying orders
and their purchases impaired much strength
o the market. the crop news was generally
encouraging though some of the bulls were
claiming that Prime YVES reporting more or
ess damage from the late high temperature.
If Saturday, The market sold up. with small
factions. &c. receded l2c. ruled steady and
closed with gain for the day of I4G3sc.
Oats fluctuated with corn and closed from
u to ssc higher. Trade was quiet.
In provisions the heavy volume of trade
asted most of the session, while prices
showed no important change The heavy
receipts of hogs started prices lower. Pork
gas off 1l2c, ana other products &c from sat
friday. The packing companies became
good buyers and prices recovered, followed
he advance in corn. The lowest and high
ng the latter hours there was great deal of
hanging from September TO other months,
.hiefiy october, ribs changing even and lard
At sc difference.
Freighis were stronger and a shade better
1t 20: lc for wheat, and 1S4@y2c for corn TO
Buffalo.
Estimated receipts for tomorrow are:
Wheat, 737 cars; corn, $40 cars; oats, $40 cars,
and hogs 5000 head.
The leading futures ranged as follows: