St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-08-09
CORN FLUCTUATED 8 CENTS
The Decline Caused by the
Disposition Of Holders to
Reap Profits.
WHEAT DROPPED WITH CORN
Partial Recovery Later, but
Market Closed Nervous
and Weak.


the opening today to buy corn there fol-
lowed in short order an equally urgent
and much more general struggle to sell.
No ordinary concessions on the break
could induce buyers to come forward.
September broke SIC per bushel before
a demand sufficient to arrest the decline
developed itself. The net decline at
the close since yesterday was limited to
3$lc. May lost 215c as the result of the
days trading.
Wheat followed corn and closed weak
at 119c below yesterdays latest quota
tons. Provisions and oats acted in
sympathy with corn and wheat.
Wheat was active and unsettled, with
fluctuations within range of 215925sc.
The opening was 1904 higher. at
5715c for September. but Immediately
weakened, and prices. with some fluc-
tuations. declined 23Sc, then rallied 1c.
again eased off, declining at 5S(9$4c.
and closed with September at sec. The
early advance and higher opening was
due to the continuation of previous
weather conditions, namely, dry, hot
weather and higher cables, but the
heavy selling pressure in corn in
fluenced free selling in wheat, and
under liberal offerings and a general
disposition. 10 realize the decline
followed. There were no reports
of rains in the West, and no
indications Of rain in that
quarter. The market. like that for sew
eral days past, was Influenced entirely
i,,,
good country buying reported today,
which prevented further decline.
Shorts also bought moderately at the
decline. There were very good export
clearances, aggregating 10000 bu. of
which 1Ol. 600 was flour. Weather i'll
England was reported showery. Cables
were higher, closing at Liverpool being
A@l11c higher and London firm. Ber-
lin about 11sc per bu higher. Paris
flour 25@75c higher, and wheat los C
per bu higher. Antwerp was UNI
changed.
Corn was again active and excited,
| with fluctuations the widest and most
sudden in years. Prices covered GO
SIC range. The feeling was nervous
and feverish all day, and all kinds of
prices prevailed at the same moment in
| different parts of the crowd. The OPEN
| ing was the scene of the widest con-
| fusion, and first trades were anywhere
from &c under to &c over the final clos
ing of yesterday, with September at
| 6l1lc. and soon rolled down 15c from
the previous low price, rallied re, then
broke 315@5c, rallied 34@5c, declined
239Q3c, ruling irregular, and closed at
55$Ic for September. There was heavy
realizing from the start, but the demand
was also brisk, and during the first half
hour the market held fairly steady.
| There were all kinds of orders in
the market early, but they were soon
filled at various prices. Later on the
buying fever died out some and the
selling increased, some of the largest
commission houses selling freely, re-
port being circulated that Iowa was
selling literally, and one concern was
credited with dispoSing of half a million
from that state, which started local
longs" to realizing. and prices declined
suddenly, with l@2c difference between
trades until Il SIC decline had taken
place 10 September and a &c break for
| May. The sudden reaction caught
countless numbers of stop-loss orders,
the executing of which only tended to
increase the panlcky feeling and de-
press the market. At the decline fresh
buying was enthused into the market
and values again turned up. advancing,
with little reactions, SIC for May and
SC for September. AS was the case
yesterday the interest ali centeted in
September and May: October and De-
cember were also traded in freely, and
sustained ups and downs with the
81, r. .I,,Ii
was a perfect deluge Of selling orders
on the market, commission houses and
brokers all endeavoring to dispose OF
long corn when The early break started
and was noticed until sic was touched
for May and 53c for September. There
was no rain in the corn belt and
advices from the West were about
as bullish as heretofore. The Wash.
ington forecast was not very en-.
couraging, indicating no rain in
the West. but cooler temperatures. The
market today was not governed by or.
binary influences, they cutting but lit.
tie figure; 1t was simply matter of the
selling orders exceeding the buying al
different times and vice versa. 1t was
nearly noon before the market haC
quoted down To any noticeable extent
and even then the market was very
nervous and unsettled
Oats were active and unsettled. TIL,
market followed corn In its fluctuations
The range for September was 25sc.
Provisions were uns settled, Influenced
by the wild fluctuations of corn. Com
pared with last night September pork i
TIC lower, September lard 2Lc lowe
September ribs &c lower.
Freglits slow at Xc for wheat an,
corn, and &c for oats 10 Buffalo ANT
and 21ac for wheat.
| The leading futures ranged as follows
Open High Low Clos