St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-10-13
REBOUND IN WHEAT,
Tuesdays Depression Partly
Overcome in the Chicago
Wheat Pit.
Good Buying Orders at the
Start by Shorts and
Investors.
Corn Ruled Weak Early, but
AftepWard Recovered the
Loss.
Provisions Ruled Firm, With
a scent Advance in
Pork.

CHICAGO. Oct. 12.-Reaction was the potent
word today on change. The depression
wrought by Dodge was partly overcome, a
natural bound back after the sudden impact
being as much the cause perhaps as any
thing. At the close wheat was l2c better
than at the corresponding time yesterday
Corn ruled very weak early. but recovered
and closed at yesterdays prices for October
and May. but Hc lower for November and
December. Provisions ruled firm and closed
DC higher for pork. about unchanged for ribs,
but little lower for lard.
There were some good buying orders at the
start in wheat, partly to cover shorts and
partly for investment, the feeling seeming to
be quite general that after such a break as
yesterday some recovery could reasonably be
looked for. The advices from Great Britain
that the wheat crop in the United Kingdom
was 20 000,00J bu less than last year and of q
very poor quality,a and that the country would
have to import $50 000,000 this year. also
helped to give the market frmness. But the
report that there had been good showers in
many sections Of the winter wheat belt, and
that indications were for general rainfall,
together With the decided weakness in corn
soon undermined the tirmness, and the price
went off to yesterdays low point, but after
ward improved.
If there was any disposition yesterday to
crlticise the government crop report on
wheat or claim that it had exaggerated the
crop it was pretty efficiently SET at rest by The
fact that the various state reports as they
come i'll estimate their crop decidedly larger
than given in the government report. The
strength late in the session was caused, it
was claimed, by report that the weight per
bushel of wheat will be lighter than last
year, and that by figuring commercial bush
els the yield would be much smaller than the
figures recently given out would indicate
Besides cables did not decline as much as
expected considering the breaks in the
American markets. The opening was about
4c higher than yesterdays closing, ruled
weaker. and prices declined ss0l2c; again
became stead1er, prices advancing 7sc, and
closed easy 4c from the top.
Corn was very weak part of the session
on free selling, fine weather and prospects Of
heavy interior deliveries. Later, however,
there was rally largely due to the free COW
ering of shorts on the decline, and the
smaller anticipated receipts for tomorrow.
Price changes were limited 10 7s1lc range.
Receivers were sellers at the start, many
claiming they are unable to obtain one
quarter enough cars at the present time.
Oats opened steady, but as other grains
were weaker, oats sympathiZed, and with lib
eral selling prices rece deu L905sc. On the
decline there was good buying, and, other
grains showing more strength, prices ad-
vanced l2@lssc.
The provision market was firmer at the
opening and was generally maintained
throughout the day at an improvement upon
yesterdays closing prices. Prices had their
GIBBS and flows. but on the whole The market
was firm. January pork was the article
principally traded in. The feature was the
taking by Wright on the call of ali the offer
ings. His purchases were about 5000 bbls.
There was good demand for vessel room,
but the offerings were light. Rates to Buffalo
held steady at :12c for wheat and 2Ac for
corn. Estimated receipts for tomorrow:
Wheat, $50 cars; corn, 400 cars; oats, @6J
cars; hogs. $4,000.
The leading futures ranged as follows: