St. Paul daily globe., 1894-10-09
TOO BIG A VISIBLE.
-.
Increase & Shewn5Y by the.
Weeks Statement Weak
g. ened the Market.
.s$ss tsss,
A BIG ADVANCE LOST.
All Grains Opened Strong
and Higher, But Closed -
Weak.
STOCKS IN LITTLE DEMAND.
Sharp Selling Movement
Caused a Heavy Decline
All Around.
STOCKS IN LITTLE DEMAND.

was strong today until the visible supply
statement was received. When over
100000 bushels was found to have
accumulated during the week the mar
ket became weak, closing with all the
early &c advance gone and Nc besides.
Corn opened strong and closed weak, nc
lower for May, and May oats closed &c
lower. Provisions also finished at de-
clineS.
Wheat opened strong at from SAC to
5414c for December and from 595sc to
594c for May. The former sold as high
for moment as 545sc and May at 60c,
after which the tendency was down.
ward for a matter of two hours. At
1880 o'clock December was down to
SAC ana May to 594c. The visible sup
ply statement had been received by the
time named, and during the time the
figures were being received their bear
ish indications were the cause of the de-
clining tendency of the market. The
final result, giving an increase of 2.201.-
600 bu where some had looked for less
than 500, 900 bu, settled the contention
over the matter OF tho visible
and in favor of the bears.
The price of December sank
little lowers SIZE, becoming lower for
a half-minute or so about 12 O'clock
The reasons for the firmness of wheat
at the opening were the decrease of
1.072, 900 bushels in the quantity on
ocean passage and the firmness of the
early English cables. Liverpool re-
ported American spring and winter
from NJ above to I'd higher. .andArgen-
tine cargOes were quoted I'D per quarter
previous quotations. Indian shipments
for the week were reported by Beer
bohms at $780, 900 bushels. The remain
der of the days routine news was
rather bearish. Continental markets
were reported easier. Northwest
ern receipts were heavy, Min
neapolis and Duluth returning
1.O76 carloads. The total at primary
markets was 966.000 bu, including what
was received at Kansas City and the
Atlantic ports. Clearances since last
reported amounted to 365.000 bushels,
only 81. 900 bushels of which was in the
shape of wheat. Regarding exports of
-four, the Northwestern Miller re-
marked that considerable portion Of
the present shipments are merely con-
signed. Selling became quite general
near the close, the crowd beginning to
think OF what might be the effect upon
prices, should Bradstreet's tomorrow
discover another 2, ,O00 900 bu Increase i'll
the visible supply, in addition to that
of the official statement today, Decem-
Der sold off to 1890 and closed at $3.50.
The corn market was strong at the
beginning and weak toward the close.
The receipts, although somewhat heav-
ier than the estimates, were OniysT9
cars. There was decrease of $4,000
a decrease of 400, 900 bushels in the visi-
BILE supply. The total of the latter is
now 3,9O5,000 bu. against S,SO5,0O0 bu
last year. The feature of the early
trading was the bidding up of the Octo-
ber delivery from SIC to sac per
bu, but the principal buyers OF
that delivery were the most diligent
sellers of May at that time and up to
the close. May opened strong at $3.50
5l15c bid, with 5l%c paid for a little
about the same time.s The demand was
quite brisk at around those prices for
about an hour, the price touching size
for an instant. The weakness in wheat
near the end encouraged short selling,
and prices, which had begun to decline,
began to give way more rapidly. and the
May tumbled to 50Tc, and closed at
5O%@51c. October, which sold early at
535sc, with that price bid. alone de-
cllned to 5154c, and closed at 5155sc.
Business IN oats was quiet: the fluc-
tuations were governed entirely by the
corn market opening tirmer and selling
off later. Norton W orthington. at the
opening. bought quite freely, compare
lively, and later ON in the day Harrlng-
tom Hannah sold some. May started
nc up from Saturdays closing price. at
344c, sold at 34ss@341ac, declined TO
3355c, when 1t closed. Provisions, in
general way, followed the lead of the
wheat and corn markets. They were
strong at the opening and weak at the
close. Hog receipts were about as bad
been expected, and there was no i'm
portant change in their price. Receipts
for tomorrow are very moderately placed
at 10000 head. January pork started at
S12.S0 and sold off to sl2.671a at the close.
or SC decline since Saturday. Lard
opened with gain of sc. and closed
with the advance lost and without
change since Saturday. Ribs rose 715c,
declined 1870, making net loss of SC.
Freights steady at 13sc for wheat, 114c
for corn. and nc for oats to Buffalo.
The tpaninu futures ramp ed az follows.