St. Paul daily globe., 1892-10-06
DUMPED LONG WHEAT
Four Million Bushels Let
Loose by Bulls on Chi
cago Change.
Nevertheless the Price Only
Went Off a Small
Fraction. o
sc
Cold Weather in the East,
Steadied Corn at the
Decline.
Stock Dealings on Wall Street
Held Within Narrower
Limits.

CHICAGO, Oct. 5.-Four million bushels Of
long wheat was dumped into the pit today
Nevertheless, wheat tonight is only 1s@Ac
lower than at the close yesterday. Corn is
down from Ac to l2c. Provisions were firm
and higher under the lead of January pork,
which advanced 32l2c per barrel.
Wheat opened very strong and first sales
were at some advance. the strength being
based on higher cables, and brisk local de-
mand. But there seemed to be any amount
1or sale at the advance, and there was a
gradual loss Of ssc, from which there was
subsequently but little rebound. One of the
potent reasons for the early display of
strength was the unfavo rable condition
Oh the winter wheat. In Illinois,
Indiana and Missouri the fall
sowing was said to be suffering severely from
drought and q great deal had not germinat-
ed. Logan, Mitchell, Dunn and Comstock
were 0ood buyers early. but later the crowd
turned largely to the selling side, led by Rum.
sey-Llghtner, Walker Il Co. and Partridge,
ana there was a steady decline 1t was part
OF the gossip on the floor that Bloom WIS
selling out large line through Rumsey L.
Llghtner. Armour was also liberal seller
Inc receipts i'll the Northwest were more
liberal, and exports from the seaboard were
smaller. A dispatch from Marshall. Ind.
said that only IS per cent of an average had
peen sown around there; that very little of it
ndu come up, ana that crickets and graSShop-
pers were me nopolizing what appeared
above ground. The dispatch is being pa
RACED as warning that while this continent
mas been favored with TWO consecutive heavy
crops or wheat, three big crops i'll succession
nave SO far never occurred here or elsewhere
IN the world
Closing cables were for the most part for
maj, and Bradstreet's estimate of the visible
supply dld not show as heavy ali increase as
had Deen looked for, but the fact of the re-
celpts at primary markets exceeding I,735,-
w pusheis, which are the heaviest for one
Gay on this crop. encouraged short selling
Inc corn market was firm at the opening
ana little higher, due In part to colder
weather and some frost in Northern Michi-
gan The receipts were somewhat less than
nao been estimated which also helped the
market at the start. The firmness began to
give way to a different feeling when wheat
was observed TO be sagging and the slight
gam with which the market opened and lac
besides were knocked off the starting values
BUSINESS IN the pit was fairly active at times,
but there were also long intervals of dull
ness. Frosts predicted by the signal service
bureau for the states of Ohio, PENNSYLVANIA
and New York stcadied the market at the de-
cline. The estimated receipts of COB cars tor
tomorrow was considered too heavy a move.
ment to wake up the bull side of the market
Iherc was general frming up of all prod
ucts In the provision trade. The bulk of the
business was for January, with october gen
orally neglected. Ever since the fist cholera
scare there has been more or less shortening
OF the market for January so as TO be ready
for the decline which might follow the breaki
ing down of the Wright corner in short ribsa
OF late the hogs have not come up to expec-
tations. Instead of heavy movement and
lower prices at the yards. the hogs are being
marketed up gradually. The shorts are now
beginning to get even on The January con-
tracts. In pork it was known that Wright
was pretty good buyer, aud this gave the
market a lift. Altogether, the broad, strong
market was surprise, with corn heavy and
lower.
Freights were weaker and lower at 214c for
wheat and &c for corn to Buffalo. Estimated
receipts for tomorrow: Wheat, $50 cars !.
corn, 600 cars: oats, $40 cars; hogs, $4,000.
The leading futures ranged as follows: