St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-08-11
A SEE-SAW MARKET.
Cereals Drop a Ways and
Then Take a Decided Turn
Upward.
Conservative People Refuse
to Believe Stories About
Ruined Corn.
Not Much Activity in Pork
All Short Ribs offered
Taken.
Stagnation Rules in the Stock
Market--No Pressure to
Sell.

CHICAGO. Aug. 1O-There were rains all
over the corn belt yesterday and last night.
as noted in the Associated Press dispatches.
AS consequence, the price of corn was IA
@1l2c lower at the opening of the board of
trade this morning. In sympathy with that
cereal, everything else was lower at the start
But at the recession. the demand outstripped
the supply, and there was unanimous ad-
vance. though it was accomplished in hog
products only after little further decline
The result of the davis trading was to leave
final prices for cereals near where they stood
at the close yesterday. with provisions con-
siderably lower. The wheat arket was
dull throughout-stagnant at times, in fact.
Aside from the weakening effect of
the break i'll corn at the opening weak cables
assisted to start prices on a slightly lower
plane; but the buying by shorts and longs
prevented any further recession and prices
moved gradually up and closing within a
point of the top. The continued liberal
shipments to Europe more than counter
balanced the bearish effect of Bradstreet's
available supply statement, showing an in
crease of List, 900 blu east of the Rocky
Mountains end of $4,000 Blu on the Pacific
coast. september opened lac lower at use,
advanced to 1s5sc and closed at 7siac. or &c
higher than Yesterday. The chief interest
centered in the corn pit, where there was
crowd OF excited operators. good
many traders were disposed to wait for
the United States government crop report
due this afternoon. but there was still good
deal of activity, and the general rains i'll Kan
sas Nebraska and other states caused a
sharp break in prices. Around the opening
September corn sold at 5is4c. a decline of 1lac
from the last quotation of yesterday, but
there was such an active demand that it rose
later to 53Ac. Crop reports are still conflict.
ing, but conservative people refuse to be-
stories
that are being circulated on the board. Still
most of the crowd are strongly buliish. which
accounts for the fact that the shorts were
glad to come in at the break. Another bull
the signal service officer at Kan
sas City as saying that the news
paper reports about yesterdays rams
were greatly exaggerated. Congdon.
LamSon, Bartlett-FraZlcr and Baldwin-Far
mum were all big buyers on line bread. Sep
TENDER closed only lsc lower than yesterday.
Oats were active and comparatively stronger
than corn. closing with all advance of s4c
for September.
Provisions failed to show The great activity
noticed yesterday, but there was good
amount of business. On the call board
Wright took all the October ribs offered. The
Cudahy Packing company sold good
amount of January lard TO Ryan aud En-
glish packers.
The Cudahys have sold great quantity of
provisions MitnIn the last three days. and it
Is supposeu tliat tney nave nearly lQulQateu
their lines. September pork sold at Sl2.i0
just after The opening, decline of 32Iae
from yesterdays closing price, but advanced
10 Sl2.9 on active buying, and closed ut
Sl2 SIZE, loss of 17l2c compared with yes
terday. Lard is 1C@2U lower, and ribs TO
lilac. Lake freights were easy at 2l4c for
corn to Buffalo.
Estimated receipts for tomorrow: Wheat,
$50 cars: corn, $50 cars. oats, FAC cars; hogs,
10000.
The leading futures ranged as follows: =.