St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-05-03
UNLOADING BY BL0M
Caused a Decided Slump in
Wheat on Change at
Chicago.
A Strong Opening, but the
Close Was at Lowest
Figures.
Corn, Pork and Ribs Gain
Small Amounts, Every
thing Else Down.
Trading in New York Stock
Market Lifeless in Mar
row Limits.

CHICAGO, May with remarkably light
deliveries of wheat. there was loss of l6llAc
i'll prices today. Compared with Saturdays
close, corn tonight is up lac. oats off lsc;
pork and ribs show 2l2c advance and lard
&c decline.
Wholesale unloading by Leopold Blom,
who was a buyer Saturday, was chiefly re-
sponsible for the slump i'll wheat. The
market left off at about the lowest prices
touched The opening had been rather
strong and prices were about lsc higher for
May and 140ssc higher for July than the
closing figures of Saturday, but the tone i'm
mediately weakened and prices declined h@
ssc-July suffering the largest reduction,
held steady. and the closing was about 1Ac
lower for May and 1c lower for July than
Saturdays closing.
The early strength was attributed to the re-
ported severe rain storms, which, IL was
thought, would tend to delay farm work, but
the offerings increased till all else was lost
track of. The deliveries of wheat were
small. as had been anticipated, amounting to
about 15J.l00 Du. For time there was
some uncertainty about the visible supply,
but the figures finally posted showed de-
crease in corn of 1.3S5, 90 bu, and an increase
i'll oats of $4,000 blu. This gave little frmer
tone to the market for a moment.
4 cold wave was also reported in the ex-
treme Northwest Pardridge was a good
seller on the strong opening. but covered
voraciously on the break. Some dispatches
from the Dakotas said that much of the seed
ing had already been accomplished, Il e
ground in fine condition. and that with
warmer or seasonable weather development
would be unusually rapid. Cudahy was
created with unloading some wheat on the
decline. The amount closed out for Bloom
was said to be fully l.0G.0J9 bu.
Light rains were reported over the West
and heavy in this vicinity, which, together
with the state reports. making the corn sea-
son late i'll most sections, had the effect of
hardening values. especially July which was
i'll good request and relatively firmer than
Nav. A good deal of changing took place.
selling the May and buying the July, lA0lssc
premium for the former.
deliveries OH May contracts were moder
ate, as expected, probably .50,0Y0 blu going
around. The visible decrease OF 1,3S5.0OJ blu
was hardly as much as generally anticipated.
Market opened 4@S5c better than the clos
ing prices on Saturday and sold up 4c. re-
acted Ac, rallied ssc, rcceded l4MSsc.
changed some and closed at exactly the
opening price. The liberal estimated re-
ceipts for tomorrow, with the weakness in
wheat were the bearish factors on the
wind-up.
Oats advanced Ac early. but later weak
ened. and prices receded ssc, and the market
closed easy at about the inside. The un-
favorable crop prospects were the strength
enng factors. but the decline in wheat and
increase of $4,000 blu in the visible supply
caused weakness and lower prices.
+. The deliveries OF provisions were about
BOOB barrels of pork, 10000 tierces lard and
| 5,00l.G00 pounds ribs. There was little trad
ding beyond changing over from May to July.
Ribs were firm on some buying by packers.
Freights were slow, but lake rates re-
manned steady at 24c for wheat and &c for
corn. Estimated receipts for tomorrow
Wheat 40 cars; corn. 62o cars; oats, $40 cars;
hogs, $1,000. sG-fz
The leading futures ranged as follows: