St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-09-30
CEREALS WENT DOWN
An Epidemic Of Liquidation
Seized the Chicago Grain
Pits.
Corn and Oats Lead the Pro-
ceSsion Toward Lower
Prices.

CHICAGO, Sept 29.-An epidemic of liuulda
ton seized the grain pits today. Hog product.
on the contrary, IN the hands of clever
manipulators, seemed possessed of tairy-like
Duoyancy. Corn and oats led the procession
OF cereals toward lower prices. the brilliant
weather and the unexpected aggregation of
loaded cars arriving from the fields being the
chief bugaboos for the bears. Wheat COM
pared with yesterdays closing price. is Isc
lower tor December and sac lower for Nav.
Corn declined Nc for October and 1Iac for
May. Oats fell lc. October ribs are 57I9e
higher.
Every day of such weather as now prevail
Ing lnsures the safety from frost damage of
many additional millions OF bushels of the
maturing corn, and that fact, together with
an excess of 10 cars over the estimates in the
local receipts, caused much weakness in that
market The estimate of the Iowa crop by
the Cincinnati Price Current, placing the
probable yield at 220. 009, 900 blu, against u.s.
U0J00j bu as claimed by the state authorities
IN their recent report, was also ground upon
which the bears based a hope. Lines of
long corn came out i'll considerable volume
and commission houses had numerous SELL
Ing orders of small lots which augmented as
the drop III prices caught successive patches
of stop loss orders. The greatest decline &C.
CURED after the publication of the estimates
for tomorrow, which are placed at 700 cars
The bottom slid out of oats. Receivers and
longs sold freely and shorts bought. The
close was about at the bottom.
In wheat the trade was not large The
opening was about 1sc lower than Yesterdays
cosing.and with slight fluctuations prices de-
cllned l2c more. The closing was about I2c
lower than yesterday. Market was Influenced
considerably today by the weakness in corn
and oats. Cables also were weaker and buy
ing limits of exporters were reduced about lc
per bushel. Predictions were for another
liberal increase in the visible supply next
week.
red-hot. The most powerful interests in the
trade are apparently arraved against each
other and, aside from the speculative deals
and natural conditions, favor big and broad
ribs week ago. Since then the operations
in lard and pork have attracted general
notice. The interest III the products was i'll
tensified today by the advance estimates
figures were bullish. The Cudahy- Wright
combination bought November and January
ribs today and matched the October bid up
to still higher figures The Cudahys also
going for the first time over S.
The Armour brokers continued to buy
October pork. HeImholz, Beasly, Packing
company. brokers. and others who could not
change their trades to November, were
obliged to buy in their october pork sale
of 100000 lbs of cash ribs, Norton orthing-
ton to Cudahy, at $40, was given out today.
The stuff was from Kansas City. Price were
advanced all round, but extreme figures were
not maintained on pork and lard. In pork
near deliveries went upi G5035c, while Janu-
airy ruled from 7I2c lower tol5c higher Lard
advanced 50l7l2c. Ribs were sent 50@55c
skyward for October on scant trading
There was a fair business in charters at 4c
for wheat and &c for corn to Buffalo. Esti-
mated receipts tor tomorrow: Wheat $50
cars; corn, 700 cars; OATS $40 cars; hogs
10000 head.
The leading futures ranged as follows: