St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-02-13
BIG BREAK IN CORN.
Everybody Rushed to Sell
and the Price Went
Off 1e.
Wheat and Oats Close Lower
/, in Sympathy With
Corn.
Lard the Only Thing Traded
In Which Showed an
Advance.
Wall Street Trading Moderate
and Confined to Pro-
fessionals.

CHICAGO, Feb. ia break of 1c
took place in corn today. Trading was
active IN all the pits. Everything ex-
cept lard moved downward. Compared
with last night, the declines at the close
were &c for wheat, &c in corn, 4c in
oats, 2215c in pork and 1870 in ribs.
Lard is 10c higher for May delivery
than it closed on Friday.
The slide in corn did not begin until
after a period OF stagnation. N. B.
Ream appeared upon the top platform
of the pit. and without any preliminary
shouting began to sell corn at the price
the brokers were then bidding for it.
The crowd Immediately desisted bid
ding and turned sellers al
most to man. Capt. Phillips
about the same time put brokers into
the pit to sell, and T. NJ. Baxter, along
with crowd of brokers from the wheat
pit. rushed into the melee as sellers.
There was speedy slump in the price,
with so much unanimity among the
spectators. The days receipts were
276 cars. or 40 over the estimates. There
were only 80 cars of contract corn in the
above. The receipts at Chicago for the
week amounted to 1897, 460 bu and the
shipments to 55S,939 blu, showing only
Oh moderate receipts an accumulation
of 543, 52l blu, and that was considered
one of the weak features of the present
situation. The milder weather was
likewise expected to release a good deal
of corn which was loaded on cars, but
sidetracKed at country stations during
the recent severe weather. The close
was unsettled at 10 from bottom fig
ureS.
Conflicting crop advices, buying Or
derS from st. Louis and reluctance to
sell short kept the wheat market steady
for time. But as the day advanced
the market began to show weakness, in
fluenced largely by the decided break
which started IN corn and oats, while
the finer and milder weather and more
assurance that the wheat had been I'M
injured also helped to weaken values.
Holders got encouraged and sold freely,
while there was also growing DISPOSE
ton to short the market. The opening
was about &c lower than yesterdays
closing, ruled easy and prices further
declined &c, held steady aud the clos
ing was about 3scloWer for May and &c
lower for July than yesterday.
Offerings Of oats were liberal and
good deal of ''short" selling was in
dulged in. This, combined with the de-
preston in corn, made the market weak
and prices receded &c. At the decline
there was good general buying, but
prices only rallied slightly.
The government report on swine was
considered bearish at first by the pro-
vision crowd, but they modified their
views a little later. For about half an
hour it looked as if a considerable
break would occur. There was lively
rally at the end of the time named, but
pork and ribs were too freely offered to
hold. Lard was held with firm grip
after it's early break and was bid up by
the speculator, who is thought to be
the most heavily interested in seeing it
decline. A. j. Wright bid for May
lard until it had advanced to $1,000, the
highest figures yet, but the close was at
reaction of 1870.
Estimated receipts for Monday:
Wheat, 125 cars; corn, 200 cars; oats,
100 cars; hogs, $1,000.
The leading futures ranged as follows: