St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-07-12
IlDEPaESSING REPORT
letter Crop Showing Than
Expected Affects Prices
at Chicago.
Low and Cautious Buying
az a. Confined Largely to
- Shorts.
Grains Lower Than Saturday,
But Provisions Nota-
:. bly, Higher.
q
lew York Stock Exchange
Is Still Dull and Trad
ing Stagnant.

Z CHICAGO, July 1.-THE government report
rowing the condition of the crops rather
Letter than expected, exerted depressing eff
'ct today upon all cereals. The condition
IF corn and oats was especially better than
The trade was looking for, and this fact,
;aken in connection with the other bearish
hciors which include the anti-option bill,
he labor troubles. the cholera in Europe.
The silver BILL with the June weather, the
weak cables and the general stagnation in
.peculation led to much depression.
Long property came out freely. stop-loss
orders became operative, and there was more
nr less selling for the short account. The
>uying was slow and cautious and confined
.rgely 10 shorts who had a good profit in
Il ,rmer sales and were disposed to secure it.
PROVISIONS were the only bull card. and they
we're not only sustained, but aggressively adj
:yanced, pork gaining 2lc, lard rec and
rs &C.
Wheat corn and oats opened weak. and al
''lough closing at some recovery from their
j west depth, were still under Saturday S
losing quotations when trading ceased to-
". Wheat is Ac lower; corner FAC and
.ats at l1ac decline.
Wheat was moderatively active The
e:.eniug was about lsc to lac lower, and
ices declined s4c. then rallied SsGl$4c and
LED steady to the close. The movement of
ew wheat is just starting Ill. and operators
.ther inclined to await developments. The
ig decrease in the visible supply was sur
Use to the trade, and caused the rally in
iriees. The recovery was helped by indica-
ols of wet weather. A noteworthy
paemu wns Of that &c July to a oTel
epte mber. The extreme break in the price
/ September from the close Saturday to the
low point today was 1l2c. The receipts We're
away over the estimate at $40 cars, and the
a fInn Of ftan nit
ans of No. corn ON the tracks. The local
locks were increased 375,01j bu. making
orn of all kinds in Chicago exceed 100000
II. With the aid of the bear news the trade
mt it was less than half a million bushels
40 much less than expected After the
''isble supply showed decrease of 10000
il and the estimate for two days was given
~ $50 cars there was better support. The
lie cable quoted July corn ID UP at Liver
,eool.
Oats were active, weaker and lower There
'ras large selliug by longs most of the day.
here was also considerable loading of July
nd buying September. July started at 1sc
premium. but later sold at lac discount
The provision trade got brought up with
round turn today. From decline of Zoe at
ne opening pork advanced TO 25c over the
losing price on Saturday, and retained the
most of the advance to the end. There was
lot as much change in lard or ribs, the spec
:lative activity finding its fullest expression
:, The article of barreled pork.
J. q. Steever ascribed the days advance
y increasing apprehensons regarding the
...obable reserves of hogs which he says are
:. It what has been heretofore supposed, or
resent prices at the yards would bring them
1t in much heavier droves "Be that as it
slay,' said another operator. IF Tom Ben
i EFT did have from someone what appeared to
g an unlimited buying order for pork. there
-ould have been no such advance in it to-
,ay.ns Trade was only moderate until about
haitian hour from the close. when the bull
,actics referred to were IN action.
The trade generally credit the effort to
control the market to the Cudahy interests.
ireights were steady with Il liberal inquiry
1T &c Tor wheat and 13Ic for corn TO Buffalo
estimated receipts for tomorrow: Wheat
50 cars; corn, $50 cars; OATS Gao cars; hogs,
5000.
the leading futures ranged as follows:
.nr,c,rS Open-I High Low Clos
ol-o. ing. est. | est ing