St. Paul daily globe., 1893-06-12
Government Crop Figures
Caused a Reaction In Chi
eago Grain Pits.
,Bradstreet's Claim Helped
i 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 5se lower than on the day before.
Corn was dull, closing with a decline of 4c
tor the day. Provisions were never before
speculated in Oh so small scale. The nom
inal closing prices are trife lower than yes.
terday's.
Bradstreets figures helped drag the wheat
market down at the start. The claim was
made that 0,000000 bu OF wheat would be on
hand July 1, which would more than make
good all deficiencies in the crop, rs the dam
age had been greatly over estimated. 1t
was SAID that stocks in America an in
Europe and afloat for Europe were 167 000,-
600 bu. or 70 per cent more than last
year. while the available supply in this coua-
try was now s9G00000 bu, against 41000, 0O0
bu year ago. The bank statement was also
depressing influence. An error in 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 correction made to 63c This gave the
market considerable recovery, and at the
same time strong aud higher cables were re-
ceived. The feeling soon got quite enthu
siastic and prices went up 1c very quickly,
but the advance did not hold, the closing be-
ing easy at Sac reaction from top figures. 1t is
difficult to make much of guess on the visl-
BILE supply. but it is thought there will not be
much of any change from last week. though
it may possibly show moderate decrease.
The opening was easier ana prices SSGg3Sc
lower than yesterdays closing; ruled weak
and further declined l2G15sc, then became
stronger and steadily advanced s4mlc. the
July feature taking the Lead then eaSed off.
ruled steady und the closing was about 7sc
lower for July and 7sc 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@l6sc. The
market opened a fraction under the final
quotation or yesterday, was steady for
while, then sagged off 4c. rallied 3sc. be-
came easier, and at the close closed trltie
lower. The out inspection here was very lib
eral
There was fair trade in oats and at easier
feeling prices averaging lower, and after
42c 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 4c.
.si There was only one trade in pork, at S2025
for July, and not transaction in 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 20c in pork, from 2I2c to &c in lard and
9l2c in July ribs.
Freights-Vessel rates to Buffalo were
firm at 2Ac for wheat and &c for corn. Est-
mated receipts for Monday: Wheat 35 cars;
corn. 40 cars; oats, 300 cars; hogs, $1,000.
The leading futures ranged as follows