St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-08-04
1t Takes a Big Bob Upward
and Then Drops a Long
Ways.
The Corn Market Strong for a
Time, but. Turns Down.
ward Later.
Wall Street Bulls Seem to
Have Abandoned the
Market to Its Fate.

CHICAGO, Aug. "a swift turn in pric es
made matters interesting today Oh the board
of trade. Wheat, after an advance OF 45c,
closed at decline of Ac. and corn lost l2c 1T
gained early. and was without change from
yesterdays closing prices in the end. Oats
retained at the close haif-cent gain, just
one-half of the days advance. Provisions
were not far from their best as the session
ended. and show gains of 5012l2c for the
day. The decline in wheat was principally
due to the pressure of the August delivery.
There was temporarily premium OF llac
per bu over shipments of No. red wheat
from Kansas and Nebraska points to Chicago
and country shippers in consequence
switched their consignments in this direc-
ton.
Buying by the St. Louis shorts and dis
position by the local traders to bull the mar
ket on the bulge in oats by reason Of damag-
ing reports from Missouri and Illinois were
the main causes of the advance in wheat
early. while New York and the Northwest
were liberal sellers. A lull followed the act
iyity, whereupon the local crowd dumped
their long wheat on the market and drove
it down to the lowest point or the day. The
opening sales were ls0Ac better. with an i'm
provement OF lec. A rapid reaction followed,
The market breaking 1Isc and closing Sc
from the bottom. Pardridge was liberal
seller of septsm6er wheat, and his
offerings contributed largely to the weak
ness. The budget failure at Liverpool
seemed to have no effect on the Chicago
grain market. The Bradstreets estimate on
available stocks was builish, as 1t gave the
increase for the week at but 5O00CO blu, in
GLIDING the Pacific coast. North Dakota dis
patches spoke of a repetition of the blight Of
two years ago, with straw turning white and
heads black. Export clearances for the day
were 100000 blu in wheat, besides q fair
amount of -four. TO offset this there was a
very free movement to principal ponts-340
cars here, 304 cars at Minneapolis 2os,OCO blu
at Toledo and 20l.090 blu at st. Louis. The
weather was most perfect for maturing and
harvesting crops.
In corn, first trades were at A@112c advance,
and the market held firm for some time.
bulge in oats, and many lad loads received
from the western portion OF the corn belt
from private sources, being responsible
for the better undertone. AT the top Of
ferings considerably increased, and it was i'm
agined that several large and long lines were
being unloaded, the price breaking with
very little reaction at s4c, rallied ssc, ruled
steady TO the close. Leopold, Bloom and
Bryant we're SAID to be among the longs
whose corn came out on the break.
Another session of unusual activity was
experienced today by the oats traders
I rade was heavy and scattered, although
large portion of the stuff was bought up by
the receivers. The cereal was inclined to
boom at The start. aud sold up 11sc from yes
terday's close.
Bad crop reports were very general, and
settled the shorts to covering literally. When
the most urgent buying was over and the
other markets became heavy, oats partly lost
their grip, and corn ruled lower.
The provision consisted of pulling and
hauling for advantage among local traders.
The market started stronger and higher, made
a fair advance. eased OH realizing sales. and
filmed up again at the close on buying by
those who sold out products early.
Freights were firm, with a fair demand at
3l4c for wheat and &c for corn 10 Buffalo.
Estimated receipts for tomorrow: Wheat,
40 cars: corn, 325 cars; oats, 2l0 cars; hogs,
| 17,C00.
| The leading futures ranged as follows: