St. Paul daily globe., 1894-08-16
NERVOUS GIsAIN MARKETS
Active and Strong at Opening,
Weak at Close.

CHICAGO, Aug. 1.-THE grain mar
kets were strong at the start and weak
at the finish today. BeariSh news was
In the majority in wheat and free real
iZing affected corn. September wheat
closed sc lower at 553sc, and September
corn &c lower. at 561sc. September oats
finished 1ic higher, and provision
cl2sed at decline. -
Wheat was moderately active. The
feeling was rather mixed. ruling strong
early and weaker later. closing easy.
First trades were at 1G@slc advance,
but gradually worked down 54G01c, raj
lied &c, changed some and closed as
stated. The trade bought freely at the
start on the theory that corn Was going
to advance sharply. though the higher
cables and higher opening at New York
helped to strengthen the situation. The
weather in England was reported as
unsettled, and this was minor
factor. Tue reaction was due 10
free realizing. several of the
large commission houses selling llb-
orally, which caused weak feeling 10
set in, and in the absence OF any out
size support the price steadily declined.
The large arrivals at primary markets,
light clearances and falling off in the
export business in the East were the in
L
trade evidently overbought at the start,
and Oh the first show of weakness hold
ers fastened to sell out, which created a
sharp break. The export clearances of
wheat and flour aggregated $4,000
bushels, of which only 10000 bushels
was in flour. New York reported
thirty-five boat loads taken for export.
and there was quite little demand for
cash wheat here.
Corn continued to rule active. nervous
and unsettled. A good trade was wit
messed, and the feeling prevalent was,
on the whole, easier. There was not
much corn Tor sal" Oh the start, while
quite an urgent demand prevailed. and it
was some tine before the call was sat-
iShcd when offerings increased. and
prices sagged back, but again rallied.
The county bought to a moderate eX-
tent toIay, the selling, as usual. coming
from local professionals and "lOngs"
who purchased earlier in the week and
today took their profits. The principal
bulllsh Influence was the various weekly
crop bulletins, which were generally
much worse than the trade had looked
FOR, ana most of the reports conceded
that TIE rains had come too late i'll
many places to improve corn.
The Washington forecast for the next
tnlrty-SlX hours indicated clear and fair
conditions through the West. The West
bought considerable during the first
hour, and elevator people sold consider
able September. The speculative mar
ket opened with an advance of I@1c
and sold off slightly, advanced sc,
declined 3S@54c, rallied 1904, then ue-
cllned l@l1Sc, changed some and closed
as mentioned. &
Oats.advanced early on the strengths
i'll corn, reactlng later. but closing firm.
he market was active, with range
for September of }5c. =
Provisions were fairly active, advanc-
ing early with corn and better prices
for live hogs. Offerings increased later
and prices declined. Compared with
last night, September pork is 1715c low
er, September lard a115c higher and Sep
tember ribs 2119c lower.
Freights-Corn to Buffalo at 1c and
corn and oats TO Port Huron at 5sc.
The leading futures ranged as follows