St. Paul daily globe., 1892-05-28
The King Trader Of Chicago
Pits Supposed to Be Shy
on Corn.
May Advanced Seven Cents
and Closed With a Gain
of Four Cents.
Dealing in Wheat Was Of a
Local Character, With a
Trifling Rise. 10
New York Stock Market Is
Still in the Hands Of Pro-
feSSionals.

CHICAGO, May 27-May corn bobbed up &c
today, and closed at &c advance. The cash
market was well attended by the few May
shorts, who appear to be standing out wait
ing for an interpositon of providence in
their favor. 1t is surmised that the principal
short in the market is the same big trader
who for so long has been playing success
fully the short side of everything which il is
possible to sell for future delivery. Partridge
apparently, however, can stand as severe an
application of the thumb screws without
wincing us any one, and. although the guess
as to his position in the May corn deal may
be wrong, no one expects to discover con-
firmation or denial of it from his demeanor.
The amount of business for May was very
light. and the price was very erratic. 1t was
sold early al Csc, and later e4c, Csc, &c and
even as high as zoe was paid for a limited
quantity. The closing price was &c. july
from 45ss@45l2c at the opening declined to
454c, and sold as high as 45ssc later 1t
closed with sellers at 45l2c. or lsc under last
nights figures. The market was slightly
easier on account of the better weather and
heavier receipts. The latter numbered 4b2
cars. of which 100 cars were OF the much-de-
sired contract grade. OF those a little more
than One-half came out OF Chicago private
warehouses.
Wheat traiinff today was almost wholly of
a local character The opening was about
1S@4c lower; then it ralliedlaG1sSc, fiuctuat-
within narrow limits, and the closing was
about " higher than yesterday. The weak
er opening was due to clear weather and
lower cables; but there was fair demand,
a few outside buying orders being received,
New York doing some buying, and local op-
orators took on some wheat at the lower
prices, which caused the temporary advance.
There was q slight easing Off from tile
early advance, but larger clearanceS from
the seahua,d. reports of drouth in France
and firm market at Paris, together with re-
ports of another storm forming east of the
Rockies, which is likely to cause rain in the
Mississippi valley had a tendency to create
a rather firm feeling for the time being.
Cudahy bought half million bushels or
more through Mitchell.
Oats attracted little attention and ruled a
trifie easier, the weakness being due to
heavy receipts.
Provisions opened firm on higher prices
for live hogs at the yards and then fell off on
the longs unloading, the situation being
the reverse of what it was yesterday, with
the supposition that the market was pretty
we'll eVened up. although there may be a
few shorts out yet. The impression was
pretty generally expressed that ii corn held
up in the face of fine weather this market
would rule steady, otherwise it would go all
to pieces. 1t is estimated that the stocks of
provisions at the eud of the month will show
a decrease in old pork, an increase III lard
and q marked dec rease i'll ribs Compared
| with last night. pork this evening is 13c
lover lard 7l2c andriDs ZIP.
Freights were slow, with little demand for
vessel room at ll2c for wheat and l4e for
! corn TO Buffalo. Estimated receipts for to-
morrow: Wheat 81 cars; corn, 44O cars
| oats. go cars; hogs, 1S,00U.
The leading futures ranged eS follows: =.