St. Paul daily globe., 1892-10-17
Rain AND RECEIPTS.
This Combination Forces
Wheat Down 1-2e on
Chicago Change.
Pardridge Said to Be a Buyer
Of December and a Seller
of May.
Estimated Heavy Receipts
Quickly Flatten a Bulge
in Corn.
Wall Streets Short Trading
Session Characterized by
Strength.

CHICAGO Oct. 15.-Pelted with rain and
heavy receipts, wheat fell down about l2c to-
day. Corn was firm for nearby months and
weak for May delivery, leaving off lsc higher
for November and 14c lower for May. The
provision deal seemed resting, but pork and
ribs on scant trading were placed on
somewhat higher plane of prices.
Rain during the night through the winter
wheat region was accepted as marking the
termination of the drouth and as the precur
sor Of more TO come. Even more influential
were the large local receipts and the heavy
deliveries in the grain which started pretty
tree selling. Later there was good covering
by shorts on the Decline and the offerings
being moderate, with some cash wheat
worked here and Pardridge's brokers being
good buyers, there was a slight rally, which,
however, was only temporary.
The market at the opening was ls@4c
lower and declined ss0Ac more. recovered
Slightly, but again settled back declining 1sc
more and closing easy. The export clear
ances from both coasts were smaller by about
100000 bu than the preceding week. 1t was
claimed that Indian shipments for the week
would again show light movement and was
one of the features which was sustaining the
English markets Partridge was said to be
buyer of December wheat and seller for
May, which was probably true of other shorts
as well. George A. Seaverns was buyer of
December wheat on a considerable scale
when the market got down around 75I2c for
December. His information from the North
west is that the farmers receipts last week
had fallen off about rs per cent. and fur
ther falling Oft next week to as heavy an eX
tent was expected.
There was quite furry in the corn trade.
1T was caused chiefly by scare among the
shorts in November. The theory has been
that new corn will move forward in Novem-
harf anti and in, th.a
East and leave the stocks of old corn heavy
on spectators. With the wet weather
spreading over most OF the country, the pros
poets for the new corn getting dry enough to
handle early were less favorable. At the
same time the rains checked the shipments
somewhat and receipts were 565 cars this
morning. The Withdrawals were again
heavy at $4,000 bushels. There was also
contracts. All this started the shorts to buy
ing and the November price was jumped up
L Use in hurry. Later the cars for Monday
were estimated at $50 and the market quickly
fattened out.
In oats the last day of the week brought
the lowest prices, and the market was rela-
lively lower than other leading cereals. At
the opening frmness was present, as the re-
celpts were less than expected. But some
lines of oats which had been previously
bought for Investment were offered at the
outside prices and there was not enough de-
mand to take them. Speculative offerings
soon increased. especially when it was an
nounced that 40 cars are expected for Mon
day. The market sold off one cent from top
prices closing weak at a decline of ssc for
the day.
Interest in provisions was restricted to
packers and scalpers. January pork was
easily advanced 17lpc over last nights prices,
but on an attempt to realize all but SC of the
gain was lost. November ribs were ad-
vanced 12l2c. Lard remained nearly station
Rry.
There were few boats on the market Rates
were steady at 2l2c wheat and 2I4c corn to
Buffalo. Estimated receipts for Monday:
Wheat 4S0 cars; corn, $50 cars; oats, 40
cars; hogs, 26,0G0. Should the inspectors
work on six of the leading roads Sunday.
which they probably will, the receipts of
corn will be about 1.3O0 cars
The leading futures ranged as follows: