St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-08-22
WHEAT FAIRLY STEADY.
Bearish Event Of the Day Was
the Big Illinois Wheat
Estimate.
CORN MARKET CHURNED
Clique Manipulation Prevents
Natural Upward Tend
eney in New York.

CHICAGO, Aug. 21.-Board of trade
spectators were anxious to buy today,
and as result the grain markets fin
ished with gains all around. Wheat
closed 35c higher. corn 114c higher and
oats 2lc higher. Provisions closed with
but little change after an early adj
vance.
Wheat was somewhat irregular, with
price changes rather frequent within
11sc range. The market exhibited a
fairly steady tone. Initial trades were
at 11s@4c decline, at 545s(D55c Septem-
Der. and sold off at once 1s@15c more,
advanced &c, worked back &c, then
advanced 115c, held steady, and
closed with September at 5519@555sc.
The early weakness was attributed
largely to the Illinois crop report, which
made the yield Al 1850, 900 bushels, or the
fourth largest on record, and also to
the favorable crop news from abroad.
Outside markets were easier and were
also something of a factor. The re-
celptS fell off considerably from the es-
Inmates, only 400 cars coming in, against
500 expected, and cables were up ia all
around. Wheat. while bullish, was Off
set by the egoing. The market sold
up rather sharply when corn showed
up. Private cables quoted small in
quiry, but prices 15d higher, and other
cables read wheat Sd lower, but Inactive
weather showery. There was rather
free selling later in the day,
which, together with the closing
cables, showing weaker toDe, caused
prices to recede to about inside figures.
The estimates for tomorrow showed a
still further falling off at 365 cars
There was rumor that the Roumanian
government had restricted the exports
of maize owing to the shortness of the
crop. The market closed rather strong
Oh the liberal export business and COW
ering by shorts.
There was considerable churning of
\ the corn market during the first hours
of the session. Prices changed rapidly
without the accompaniment of any great
amount of business. There was
some little demand for local shorts,
and not enough offered to supply
them, until they had bid the price up lie
per blu for May and 1850 for September
above the prices current near the open
ing for those deliveries. When that
demand was. satisfied, prices began to
1 settIe back again, and before noon they
I were both down to helevel of opening
quotations. Shortly thereafter another
squirt took prices back up to near the
/ highest point of the early bulge. Sep
TENDER was difficult to buy when want
ed. and occasionally it was equally. hard
to sell it. 1t sold around the opening at
from 53Xcto size, and from that up to
55c, then off to &c and up until it
touched 5515c. 1t closed at soc.
Oats experienced another day Of active
trading and higher values. Corn con-
tinued to influence prices and quite an
advance. Buying was good from all
sources. September started &c up from
the closing price yesterday at 5000, de-
clined 10 301sc. advanced TO 15@306S C
and closed at 301sc.
RECEIPTS of hogs we're only Is, COO head,
and good grades were quoted as i'll good
demand at trifle higher prices.
That and the strength in corn
gave the provision market it's open
ing direction. The fluctuations in
pork followed the course of the
grain markets for while, but in the
latter part of the session the packers
sold freely and Independently of strong
grain markets and steadiness in lard
and ibis. January pork opened at
Sl3.65, compared with $3.50 at the close
Yesterday. 1t advanced to S13.6715, and
then dropped gradually, until at the
close $3.50 was it's selling value. Lard
for January closed with gain OF 211ac,
and ribs are unchanged.
Freights ruled firm at lie for corn to
Buffalo and &c for oats to Port Huron.
The leading futures ranged as follows: