St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-09-22
THE EXPORTS WERE LARGE.
As A RESULT WHEAT MAKES A GOOD
ADVANCE.
GREEsEsLIPs DoxNTHEsL1DE
Slight Slump in Stocks at the
Close of the New York Market
Everybody Bearish and the
Wonder Is Stocks Do Not Go
Down More Rapidly-Rains
Not as General as Expected.


Wonder Is Stocks Do Not Go
Down More Rapidly-Rains
Not as General as Expected.
CHICAGO, Sept. 2l.-A bewildering
surprise was given The wheat trade to-
day in the exports. The whole crowd
practically sold out on the theory that
the clearances had petered out. An
hour later the wheat and flour for the
day reached nearly 100000 bushels.
The market recovered from a loss of
sc, and closed at sc lower than it did
yesterday. Corn and oats were very
strong, more especially the latter. which
closed with a gain of &c. Corn adj
vanced about &c. Provisions were
weak.
Wheat at the opening was weaker and
prices &c lower, followed by further
decline of 1a(05sc, then became stronger
and prices were advanced 7S(61c, eased
off slightly and the closing was steady
The early decline was attributed to the
lower Liverpool cables and continued
lquldatlOnS of local longs and inhu-
enced some by the belief that there was
time yet for seeding. Farmers reported
10 be selling more freely in the winter
wheat country, But the decline in
prices seemed to develop good demand
Some OF the parties who had sold short
evidently wanted to cover. and buying
orders were received from New York.
In addition to the fact that the clear
ances were larger, it was rumOred that
reports from the Northwest indicated a
letting up in the receipts. 1t also said
that the rains were not as general
and did not cover as wide territory as
expected. The demand for the car load
offerings of corn in the cash crowd was
active. Armour IL Co. and other elevator
concerns competing with the shippers
IN offerings. That appears to be the
true lnwardnesS of the bullish feeling.
The heavy receipts have so far COM
manded ready market, and stocks do
not accumulate to any great extent.
People WHO have been waiting for a
break in prices OH account of the great
receipts To get possession of the article
they think will sell much higher appear
to have become impatient, and believ-
ing IN 1t i'll any way, are willing to start
Ill from its recent level.
There was an active trade of the
SpasmOdic order i'll oats. Opening trades
were OH weak market at Ac QecHnG
for the active months and May receded
&c more, but became stronger on good
buying by shipping houses and shorts.
The exports of 1888 bu from New
York with higher prices there and a
good cash demand here, started values
up and they advanced l14c. On the
bulge there was good selling by some of
the early buyers and prices receded $50
lIc and closed steady
In provisions, packers showed an in
clinat!on to sell January product, but
there was no one to unload it upon;
local operators would have none of it,
and there were no orders from outside.
Perhaps not over one dozen transactions
were recorded from after the call to the
close. AT the close everything showed
considerable reductions. Pork is NOM
lnally l5c lower for near July deliveries
and 25c off for January. Lard is 21zc
lower for September, 15c lower for DC
tober and l0c off for January. Ribs for
September are down 715c, October 2211ac
and January 15c lower.
FreIghts were firm, with a fair de-
mand. at 1}Sc for wheat, lie for corn
and oats, and l$4c for tiaXSeed to Buff
falo.
Estimated receipts tor tomorrow are:
W neat, 230 cars; corn, 3O2 cars; oats,
$50 cars; hogs, 1900.
The leading futures ranged as follows: