St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-08-10
DAMAGE TO CORN CROP.
GOVERNMENT REPORT INDICATES nv
JURY FROM DR0UTK.
BUYING ORDERS NUMEROUS.

Wheat Crop in Minnesota Affected
by Drouth-A Light Yield in
Wisconsin and North Dakota
Bears Unusually Aggressive
Lowered the Price of Many
Stocks.
CHICAGO, Aug. 9.-The corn pit was
the center of interest most of the time
today. Wheat was largely side issue.
The government weekly weather bull
letln showed serious damage to corn
In many states by drouth, and reports
from the country were more emphatic
than before regarding the imminence
OF a great disaster to the crop. There
was some weakness near the close on a
report that rain was falling III Ne
braska. Compared with last night,
May corn left off 1c higher. Wheat Is
15@4c down. Pork and ribs are each
up zoe, and lard 40c.
Transactions in corn were not con-
fined so much as of late to tine local
trade, the outside interest increasing
and buying orders being numerous.
The government weekly weather crop
bulletin demonstrated that the past
week was a hard one, inflicting more
damage than any previous. Today
there were scattering showers through
Colorado and the extreme South
west, it being dry and hot else
where, and private advices reported
considerable injury in Nebraska and
other leading corn-raising states. which
q short time back promised an immense
yield. The money situation is in such
shape that the cash trade is greatly cur
tailed. and has happening effect on
the near futures, exchange cutting con-
siderable of figure.
Market opened at yesterdays final
figures, and under an urgent demand
from shorts, advanced 1@11sc for Sep
TENDER and 19lc for May, working back
respectively 5S(0$4c and nc, and at the
close the former was up 3s@15c and the
latter l@115c. Receipts were light, and
estimates for tomorrow also very mod
crate.
Wheat at the opening was easy and
from 5s@35c lower, then improved,
prices tor September advancing 1c and
December 1@118c, eased off again, and
the closing was about &c lower for
September and &c lower for December
than the closing figure of yesterday. The
lower opening was a continuation of
yesterdays weakness and the uncer-
tainty in regard to financial situation.
The reported suspension OF a New York
bank may also have had some effect, but
there was a fair demand at the
decline. Shorts bought some, and there
was buying from other sources on
aida tn
clearances from the seaboard and rather
unfavorable crop news. Operators also
expect that the government monthly re-
port will be publish" The weekly re
port said that the drought was affecting
the crop in Minnesota, that the spring
wheat crop in Wisconsin was light and
North Dakota suffering for rain. There
was S2,300,000 more gold taken in Eu-
rope for America. Cable adyices were
of an unfavOra5le tenor, but presum-
ably reflection of the American mar
ketS.
Oats showeda better trade and strong
er feeling, due 10 sympathy with corn,
also to crop reports being rather unfa-
vorable. The feature was the strength
and advance of &c in May, while Sep
TENDER advanced &c. The bulge
brought out liberal selling, and prices
reacted 4@3sc and the market closed
steady.
The provision market was very firm
on very moderate amount of business.
The tirmneSs was more the result of
the small offerings than of the extent of
the buying orders. The hog receipts,
as reported from the yards, were only
5000 head, instead of the $4,000 which
had been expected. Some buying, led
by Armour IL Co., caused some shorts
to cover. Lard was the most active
article on the list. On the advance
there was some long pork sold out,
which was said to be the cleaning up of
line which was only partially liqui-
dated on the slump a week ago.
Freights-There was no improvement
in the demand for vessel room. and
rates remained easy at 114c asked for
wheat and 1c for corn to Buffalo.
Estimated receipts for tomorrow:
Wheat, lis cars; corn, 270 cars; oats,
210 cars; hogs, 5000.
The leading futures ranged as follows: