St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-08-18
Heavy Movement of Wheat
and Hogs to Chicago Hav-
ing It's Effect.
Prices Are Apparently Going
Lower on Natural Influ- - ..
enceS. ~
The Reactionary Temper Is
Still Strongly Prevalent
in Wall Street.
Strength in Industrials Not
Sufficient to Maintain Adj :.
VanceS. Il

CHICAGO. Aug. 1.-THE heavy movement
of wheat and hogs to Chicago gave markets
for grain and provisions a further decline
today. The weaker cables and more favor
able crop news added to the heaviness. and
prices went lower all around.
The action in The wheat market in drop
ping to 65l3c for September was not at a !
surprising 10 either buyers or sellers. The
price went eff slc from the close yesterday
on natural influences. The cables were
bearish, the weather perfect the crop returns
more favorable and the movement to mar
ket heavy. Cables were lower and Western
receipts were free The weekly crop bulletin
from Washington was very favorable. A
Paris private cable said the Fren"h wheat
yield was larger and of better quality than
was expected, and the market was weaken
ing
The export clearances were lighter at 277
COO blu wheat and Il moderate amount of flour
from Atlantic ports. Offsetting all this bear
news buyers had only for assurance of in
vestment the free outward movement. The
market opened easier at nc for September,
sold, 76s4@7G7sc, to 7Cl2c. to 76ss@75s4c to
76l2c, and closed, at 7c7sc II is feared
that if the Buffalo railroad strike continues
longer 1t will inJure the grain markets very
seriously, as parties will fear to ship with
such great risks.
The corn market opened weak. ostensibiy
because of the Washington, d. c., weekly
CROP, and weather report, which indi-
Gated general improvement for the
crop throughout the entire country
The weather conditions SO far this
week have been considered favorable, also
the weather map this morning being so con-
strued. Scattered droppings of long stuff
which overstayed its opportunity has been
one OF the sources of weakness for the last
eight days, and was still feature of the bust
ness today.
September started with sellers at sec, and
sold at that to 5l7sc. 1t dipped to 5l4sc, re-
covered to 5l7Sc, and then sank gradually to
5llSc. taking about two hours to reach the
last-named price. 1t was wanted at the lat
ter III greater quantities than were for sale
and gradually worked back again to 5lssc
Inc latest trading was 8 sc for September.
Ihe oats market showed another decline.
Ihere were selling orders in the market from
the outside. crop reports were unchanged.
and other markets on the floor were weak
and the close shows loss of 4c Lard is
Tor the same option.
Tnere was decided change in the tone of
the provision market, and from leading all
others III strength, it became decidedly weak
ana generally dull. and later was raided
badly. The eaSiness was helped by the lower
hog receipts. Scalpers felt it was not safe TO
be on the short side. After the first break
there was some recovery to September ribs
and lard, but this was followed by general
decline. Stop orders were caught; pork went
Oft 6Jc from last night, closing 57l2c lower.
Lara is down. .
Estimated receipts for tomorrow: Wheat,
$50 cars; corn. 295 cars; oats. 235 cars; hogs,
2l.00O head. Lake freights steady on a basis
OF &c for corn to Buffalo.