St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-12-15
ON The DOWN GRADE.
Increase in the Available
Supply Causes a Slump
in Wheat.
Corn Shows a Firm Tendon
cy in Spite Of w heats
Weakness.
Provisions Stronger for May
and Easier for January
Futures.
Wall Street Bears Devote
Special Attention to Read
ing and Atchison.

CHICAGO, Dec. 14.-IL was day of heavy
liquidation in wheat and reduction Of S4c
occurred in its price. None of the other mar
kets were rs weak. Corn appeared 10 tend
upward at those times when wheat was not
being subjected TO extraordinary pressure,
and oats declined lsc very reluctantly. Pro-
visions were stronger for May and a shade
easier for January.
While first transactions in wheat were
about yesterdays closing figures. the feeling
was weak and there was quick decline. i'll
addition TO the enormous increase in the
worlds available supply made public, Brad
streets reported an increase i'll the STOCKS
east of the Rockies of 4,9s6,0C0 bu and a37,1OJ
bu increase on the Pacific coast, making
total increase for the week of 5,5i3,UO0 Du.
Cables were lower and all domestic markets
were Oh the down grade. The receipts IN the
Northwest showed some falling oH-bclng
only 152 cGrS-but were still REGARDED as heavy
for the seaSUn,e especially when the enormous
consignments already received there are con-
sidered.
There was general disposition to get rid
of long wheat md short selling was very
urgent. baldwin q Fnrnum were supposed
to be buying for Pardrdge 10 cover shorts.
Partridge is credited with having bought
fully ON, csc bu of wheat during the last TWO
days good deal OF the liquidation was
credited to Cudahy. The discussion OF the
Hatch bill was claimed TO be weakening
factor. After opening unchanged, me mar
ket with some tiuctuation declined ssc' then
followed little steadier feeling. ana prices
recovered So Of he decline, but ruled easier
again, and the closing was 5sQS4c per bushel
lower than yesterday.
The traders iii corn were affected at tDe
opening by the heaYinesS Of the wheat mar
keL but there was an undertone OF commence
which stopped the decline after &c had been
knocked OF the price. Nebraska farmers,
who have more good corn than is to be found
III any other state, were sail TO nave sun
some in the fields tor which they have not
provided cribs, and it was said that as soon
as that was forwarded to market receipts
from there would. 10 i great extent, dry up.
a good deal of chang ng took place, buying
July and selling the May, the premium at
one time Being only sixteenth.
Extreme dizziness was the most notable
feature of the oats trade. Fluctuations we've
so light and so infrequent that the most
Lightning minded scaper could scarcely
snatch fitc profit out OF trade during the
entire session.
While nine out of every ten III the pit are
said to consider hog products artiiicially high
in price, no one apparently dared sell The
stuff short and the market was so sensitive
and nervous that ii took very little buying or
selling to raise or depress prices. Re
ceipts Of hogs were fair with sales
at slightly advanced figures, and
this factor encouraged considerable
buying Of products early at q moderate adj
vance in pr.ces. At the Improvement there
was more pressure to sell-local brokers APP
parently wsn supplied with orders-and
weaker feeling was developed. with quite
sharp reaction in prices. The difference be
tween January and May contracts was wild
ened sCmer hat Toward the close the feel
ing was steGder, and prices rallied TO me
dium figures. there was fair selling Of Jan
uary property and buying of Nav. Compared
with yesterday closing prices january pork
is 2Iac lower, May @12c higher, January lard
is1Cc lower and May 7l2c higher, while ribs
for January are 2l2c lower and unchanged
for May.
Estimated receipts for tomorrow Wheat,
$50 cars; corn, 230 cars; oats, 100 cars; hogs,
10000.
The leading futures ranged as follows: