St. Paul daily globe., 1893-06-11
Government Crop Figures
Caused a Reaction in Chi
eago Grain Pits.
.Bradstreet's Claim Helped
Drag Down Wheat From
the Start.
Only One Trade in Pork Fut-
upes in the Provision
Pit.
Wall Street Speculation in
Stocks Characterized by
Strength.

CHICAGO June 10-Fear of the government
crop report was the main cause of a reaction
in the grain pits today from the recent big
advance Business in wheat was brisk. The
close was 5sc lower than on the day before.
Corn was dull, closing with decline of 4c
for the day. Provisions were never before
specuIated in OH so small q scale. The NOM
inal closing prices are a trifle lower than yes
terdavs.
Bradstreet's figures helped drag the wheat
market down at the start. The claim was
made that 80, 000,01J Du of wheat would be on
hand July 1, which would more than make
good all deficiencies i'll the crop. rs the dam
age had been greatly over estimated. 1t
was said that stocks in America an in
Europe and afoat for Europe were 167, O0',-
900 bu, or 20 per cert more than last
year, while the available supply in this coun-
try was now S9,000.000 bu against 100000
bu a year ago. The bank statement was also
d depressing influence. An error i'll trans
mitting quotation from Duluth proved quite
factor From 62L2c for July the next quota
ton was '62" sellers and the trade here got
very uneasy. The quotation was challenged
and a correction made to 63c. This gave the
market considerable recovery. and at the
same time strong aud higher cables were re-
celVeQ. Iuc leclILS soOH SOt qultS Cituu
SieStic and prices went up lc very quickly,
but the advance did not hold, the closing be-
ing easy at 34c reaction from top figures. 1t is
difficult to make much of guess Oh the vlS1-
Bile supply but it is thought there will not be
much of any change from last week. though
il may possibly show moderate decrease.
The opening was easier and prices Ss03sc
lower than Yesterdays closing; ruled weak
and further declined l203Sc, then became
stronger and steadily advanced 4Wic. the
July feature taking the lead, then eased off,
ruled steady and the closing was about Bc
lower for July and l5c lower for September
than yesterday.
Some disposition was manifested on the
part of many operators in corn TO take in the
July and put out the September, the differ
ence most of the day being 1l2@ .5Sc. The
market opened q fraction under the final
quotation or yesterday, was steady for
while, then sagged off lac, rallied ssc, be-
came easier, and at the close closed trifle
lower. The out inspection here was very lib.
eral.
There was fair trade in oats and at easier
feeling. ptces averaging lower, and, after
I2c range on the near futures closed steady
on June and l2c lower for July. September
held within small range, and closed with
net loss of Ac.
There was only one trade in pork, at S20.2
for July, and not transaction i'll any other
futures. There was also noticeable scarcity
of operators III lard and ribs. What might
have been the result of some more business
it is impossible to guess. Compared with
yesterday, the nominal declines are from 10c'
to 2Jc in pork, from 212c to sc in lard and
3l2c in July ribs.
treights-Vessel rates to Buffalo were
firm at 24c for wheat and &c for corn. Esti-
mated receipts for Monday: Wheat, 50 cars;
corn. 40 cars; oats. 300 cars; hogs. 23.00o
The leading futures ranged as follows.