St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-06-09
Weakness at Minneapolis
One Of the Causes of
the Slump.
Corn Sympathized With
Wheat, but the Loss Was
Nearly Recovered.
Decline in Sterling Exchange
Impaired a Stronger
Tone to Stock.

CHICAGO. June 7.-Wheat broke all records
today by selling down to 63c bushel for the
cash article the lowest price ever touched on
the board Of trace. The market started firm
and for about twenty minutes it looked as
if the improvement would last At the end
of that time there was a return of yesterday S
Weakness and the slightly higher prices
which ruled for the time mentioned were
succeeded by decline in July to 12c below
the lowest price it had ever previously
reached. At the opening it sold from 66s4c to
667Sc, and before it began to decline it just
touched &c for moment. Following that,
and continuing about an hour, prices were
cut down by siXteenths and eighths until
July was selling at 6; l3c, and. before Il rally
of more than lsc had been effected. it
dropped to 644c. That at the present rate
OF discount would make cash or June wheat
worth only 63c. The decline was due to Il
fear of further trouble among the elevator
concerns in the Northwest and in measure
confirmed by the weakness of the inne-
apOlls market July wheat at Minnea polls
declined to 56Ac or 9l2c below the lowest it
touched here. The market quoted edown
after the break alluded to above and recov-
cred little. but there was no great buoy
ancy. and, after reactng about sac, the i'm
provement stopped, and the close was lIsc
lower for July and Sac lower for September
than yesterdays final figures.
In corn there was considerable dropping
the market being quite active at times. but
near the close duilness ruled. The market
opened with July 35l4c and 3334c, september
4 7sc and up to Ale. The break was to 3SI2c
for July. 40l2c for September, with the rally
later 70 3: lSc and lie June was quoted at
3Ac and back to 3i1sc. The close was $50
Ssc lower than Yesterday.
In oats there was a fair demand and a
steady feeling but no special features de
, veioped Prices had 12c range and the close
was at the top figures with a net gain of sec
on June and Ac on July and lsc on Septem-
Der. Receipts were 26l cars.
The speculative market for hog products
continued dull, the volume of trade early be-
ing very light; especially in mess Dork, there
being scarcely enough business to make q
market. The market ruled staSuant, closing
firm and 10c higher than yesterday Trading
in lard was light. The market opened 3L2e
higher, improved to Il like extent and then
declined 2l2c OH prominent Spectator sell
ing july september being carried down.
Jnly broke 25c. The market then oul, d fairly
steady during the balance of the session. i'm
proving 10c for September. OH some buyin :
by prominent commission house, and then
huctuating within sc range and closing
firm SC lower. In short, there was very little
doing. The market closed 2l2c lower than
at the same time yesterday.
Lake freights were steady, with a fair de
mand at 2l2c for wheat and &c for corn to
Buffalo. Estimated receipts for tomorrow:
Wheat 52 cars: corn 500 cars; oats, IS. cars;
hogs. 14,0O) head