St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-07-06
Wheat Declined 115c on Chi
cago Change, Closing at
the Bottom.
Foreign Markets We're Lower,
and Small Deere ase in
! the Visible.
Corn and Oats Also Decline,
but Lard and Ribs
Advance.
Reports Of Financial'TroubleS
Used to Depress the
Stock Market.

CHICAGO, July 5.-The grain markets
on the board of trade opened weak this
morning. Pork was dull and steady, but
lard and ribs were some what higher.
The animation in wheat which is usu-
ally found to succeed a holiday was al
together wanting, with orders from out
side points either to buy or sell con-
SpicuouSly scarce. Tie bulliSh feeling
which was noticed on the curb on Mon
day had given place to bearishness, and,
instead of from 7OAc and tic bid for
September wheat. as on Monday, there
were sellers at the start today at 7014c,
with an immediate decline to zoe, and
further drop to 69Ic in the next
few minutes. There was mar
rowing of the spread between
July and September to sc per bu in the
course of the first half hour of the Ses-
sion. The weakness today had several
contributing causes. Foreign markets
were not encouraging. Liverpool was
quoted steady and inactive, and English
stocks were reckoned to have increased
100000 bu last week. The board of
trade cablegram made the extraordi-
nary statement that in England heavy
rains, succeeded by protracted
drought, had materially improved the
crop prospects. The weather map here
showed rain fairly we'll distributed in
the Dakotas, where wheat was reported
10 have been previously suffering for
want of ii. There was an increase of
about l41,0J0 bu in the stock of contract
wheat in Chicago. These were the chief
features of the early market news.
The price kept within narrow range
after the decline until after the result
of the visible supply statement was
published, Immediately following which
there was rush of sellers and a rapid
decline to CSC for September. The
decrease, instead OF amounting to be-
tween 100000 and 100000 blu, as had
been confidently expected, was only
,000 blu. The close was weak at the
bottom figures of the dav. July started
out independently. 1t opened &c
lower than the closing price of Satur-
day at 64c, and sharp demand for the
cash article sold up 1c: but the strength
did not hold and the close showed the
gain all wiped out.
Corn was weak, partly in sympathy
with wheat and in part due to the fine
corn weather. The receipts were lib
eral also, and people in outside markets
were not sending any orders to speak
of. There was no activity in the trade
at any time. The spread between July
and September narrowed to &c per bu.
July was not traded i'll to any great ex-
tent, but was firm, even when Septem-
Der was showing weakness. July
opened at 911ic and kept improving UNI
til it had reached $3.50, the price on
which it closed Saturday, and closed at
$3.50. September opened at 42c, touched
451sc, then sank gradually to age, and
closed at 4lMc.
The oats market was quiet and lower,
partly i'll sympathy with wheat and
corn, and due some to heavier offerings.
The shorts bought freely Saturday, ex-
pecting big advance over the holidays,
but the crop reports were even better
than they have been lately, aud the Wis
ible supply was also disappointment,
showing a good increase. September
opened &c lower at 264c, touched 2635c,
sold off 10 26c and closed at 261Sc.
The provision market was very dull,
but the weakness which accompanied
the want of business at the close of the
previous week was succeeded by firm
ness. Hogs receipts were liberal. The
price quoted from the yards was about
10c over Saturdays rates. The carrying
charge from July to September was
.iuliOhCA AL WHO, 90 IL WAC IOl CdLs
rying of grain. Wright was credited
with some buying of ribs, and lard was
also we'll supported by the bulls. Sep
TENDER pork showed no change at the
opening compared with Saturdays last
figures, but worked off 215c during the
session, closing at inside figures. Sep
TENDER lard opened sc higher and adj
vanced 1870 more, but reacted 10c be-
fore the close. July ribs started soc up,
sold off csc and rallied sc, while Sep
TENDER opened only l0c higher, ad-
vanced loo more and declined 715c be-
fore the close.
Lake freights are extremely low. The
schooner }. f. Card was chartered to-
day for corn to Port Huron at 1c a
bushel. This is the first time in the
lake grain trade that the Port Huron
rate has dropped to cent. Shippers
are sending some grain for export via
Boston, and that is about all the bust
ness vessel men are doing. The local
demand for grain on the seaboard has
dropped to almost nothing. Estimated
receipts for tomorrow: Wheat, 100 cars;
corn, 500 cars; oats, 240 cars; hogs, a.
600.