St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-06-28
Rains in the Northwest Check
the Bullish Sentiment Of
Monday.
Growing Weather and Light
I Demand Cause Corn to
Sd Close Lower.
Lighter Receipts Of Hogs Re-
sponsible for an Advance
in Pork.
Buying Orders Stop the Down.
ward Movement IN Wall
Street.

CHICAGO, June 27.-The people sold
wheat today who bought 1t yesterday.
Timely rains where needed for spring
wheat unsettled the bull sentiment. AT
the close July wheat was &c and Sep
TENDER 5sc below yesterdays closing
prices. The good growing weather
and slack shipping demand dragged
down corn to the extent 0f56c for July
and &c for September. There were
some sustaining orders in pork and an
advance of about SOC per barrel. Lara
and ribs closed without change.
Wheat at the opening was about 40
&c lower than yesterdays closing, and
prices receded A@Ac more, then ruled
stronger and prices advanced &(9Hc,
but again ruled weak and prices de-
clined &c for July and 7sc for Septrm-
Der, held steady. and the closing was e
@1lc from bottom. The December fut-
ure ruled comparatively stronger than
the other futures, and closed about &c
lower. There were numerous lnf1u-
ences which contributed to the decline
today. Reports of cooler weather and
rains in the Northwest, and adylces
WulCu SluICU iudt llO spins NiiN~o
crop was not so badly damaged as had
been reported; cable advices were re-
ceived which said that there was some
Improvement in the European crops,
and that the yield would be
larger than expected. Part OF the
trading today was in the way OF
closing out July and replacing by taking
December, which accounts for the wild
ening out of the premium for the latter
future. There were reports OF small
receipts of new wheat which affected
the market some. st. Louis reported
three cars and Baltimore $500 blu.
ThreShing is progressing. On the break
some of yesterdays short sellers began
to buy in and gave the market little
show of activity and strength. Then
news came from New York that ar
engagements had been made to import
81, 100000 in gold from Europe to relieve
the money stringency. The effect OF
this was to create more confidence ana
increase the demand. under which there
was steady advance OF &c. But doubt
and dullness followed, lasting through
out the remainder of the session.
Corn was easy at the start, first trades
being off a traction, and the market
sold down nc soon afterward. AT the
decline the demand improved, the I'M
preston going around that prominent
| local trader was picking up good deal
Of September having strengthening
influence. Offerings fell off consider
| ably and the price advanced 1a(9s4c, but
| the arrivals for tomorrow came in
heavy at $40 cars, and the price again
weakened 405sc, rallied, ruled easier,
and at the close had lost 14@56c.
| In oats there was a steadler feeling
| early, prices advancing 5s@%c, but
| later reacted 3S@1ac, and closed quiet
/ atlabout the same prices as Oh yester-
| day. Harvey was large buyer of cash
| oats.
Provisions opened frmer at slight
advance in prices because of the re-
ceipt of aboat only 1900 hogs instead OF
| $4,000 as estimated yesterday. There
! was decline from opening prices due
| to the attempt by the leaders in the
| market to unload at the Improvement.
| but finding that impossible, they de-
sisted and bid for enough to prevent a
| break to any extent. Attention was
| directed to the receipts of hogs at Kan
sas City and Omaha. which together
! amounted to 10000 head, and that led
| to the idea that bigger receipts were tC
| be expected here in the near future.
Freights were dull. with fair offerings
| of vessel room at 15Sc for wheat and 114t
| for corn to Buffalo. Estimated receipts
| for tomorrow: Wheat, 1875 cars; corn
440 cars; oats, 2l0 cars; hogs, $4,000.
| The leading futures ranged as follows.