The representative. [volume] (St. Paul, Minn.) 1893-1901, 1894-05-09

wheat Opened Strong and Ruled
. Act1ve-Cables Weak and Lower
California Conditions the Bull Fac

MINNEAPOLlS CHAMBER OF CON-
NhhCE May Sour local wheat market
opened fractionally higher this morning,
ana soon after scored an advance of sc on
July wheat, ruled quite stubborn for an
hour and then showed signs of weakening
on few small offerings by scalping longs.
rom lo:4o to HE the market was very
quiet, with the pit deserted during the
greater part of the time. The cause for
the bulge was said to be on account of bad
crop reports from California. The govern
ment weather crop bulletin, issued this
morning, seemed to indorse these dispatches
advising OF drought throughout that state
Private dispatches however, insist that
where the most of the wheat is grown the
prospects are for a good average CROP
conditions east of the Rockies are said to
be generally very favorable except some
portions of Nebraska, where rains are badly
needed and high winds prevailing Crop
reports from abroad were generally favor
able, and cables advised of very weak and
lower markets in England and the CONT
nent, with Paris weak at values unchanged.
Chicago forwarded some bull items based
on the financial troubles in the Argentine
1t was argued that wheat shipments from
the country must diminish because of the
probable dlfhculty in securing foreign ex-
change. 1t is assumed, of course that the
people down there of a different breed
from ourselves, and will violate all rules
that govern trade in times of distress IT
is generally the rule that when one is
pinched, that sacrifices have to be made by
reaEzing as promptly as possible Our
opinion is that their wheat will be offered
cheaper than ever in order to balance up
Clearances from the seaboard were on a
liberal scale, but chiefly in the form of
flour. No new export trade was reported
up to noon.
May wheat opened at 6O1ac, against 6oAc,
yesterdays close, and by noon held at
6G1zc
a hoi, va
ter than yesterday, advanced to tO5hc. de-
clined to 60A@603sc, again sold ct GC5sc, lost
sc by 1:35, and by noon sold at 6O5s0
60a4c
September wheat opened at 577sc against
5l280574c yesterday, advanced TO 1914, lost
3-16c, firmed up to 5S1sc, and by noon held at
5SAc.
The cash wheat market was quite active
today, the demand being good from local
milers. All offerings were we'll taken long
before noon at satisfactory prices to the
sellers. No. hard sold at 64c, No. l north
ern mostly at 62Ac, and No. 2 at 61c Sales
were made as per statement below.
Receipts here were 142 cars; shipments, %
cars.
During the noon hour the market in
refined to weakness through some realizing
by scalping longs. Closing cables advised
of declines in England and Europe and
Bradstreets report rather bearish in tone.
Tomorrow is likely to be dull day be-
May wheat closed nominally at 6O%c July
wheat at 605sc, and September at 575s657a4c
MINNEAPOLIS RANGE OF PRICE.
May-Opening, 6O12c; highest, 6034c; low
est, 6O12c; closing, 6Oa1c; closing yesterday,
604c
July-Opening. 6OAc; highest, 605sc; low
est 60Ac; closing GO5sc; closing yesterday.
60c
Notwithstanding, 577sc highest. $3.50;
lowest, size; closing, 575sd5734c; closing
yesterday, 577sM57s4c.
Curb on July wheat, bid 6O5s
Puts on July wheat. Observation-Disclosures. 6O1a
CailS on July wheat. .......................6 sos
On Track-No. ! hard, 631Ac; No. 1 north
ern &c; No northern, 6ol5c.
FLOUR AND COARSE GRAINS
F'lour-Receipts, 1850 bbls; shipments 30 95S
bbs; quoted at S.. 45 for first patents So 40
for second patents; $2.O5Q225 for fancy
and export bakers; 81 goal. % for low grades
in bags, including red dog
Bran and Shorts ne market for bran is
little weak. but holders are a little stiff
ana ask s9.Ao43.'o IN bulk; shorts, So 50@9.75
per ton.
Corn-Recepts, 244O bu; shipments, 39SO8
bu; somewhat easier; sea sales.
Oats-Receipts, 1920 bu Shipments u $50
bu.
Barley-Receipts, none; shipments, none
Feed-Millers held at $1350ll13. IS; less than
car lots, s13G14; with corn meal, sl2a12. 25
graduated meal. S16.50@17 per ton.
Faxseed-Receipts, none; shipments, 1000
blu.
Hay-Receipts, 10 tons; shipments, none.
The shipments were liberal TODAY
The demand is limited, with sales a little
slow. III. H. King & Co. report sales at
$3.50 to 81 for choice upland. There is
some inquiry for timothy for shipment and
good quality brings $3.50 to $3.50 per ton
Rye straw is in good demand and what
little arrives is quickly picked up by
local dealers at about 81 per ton.
Milwaukee.
MILWAUKEE. Wis, May 9.-Wheat
steadier; No. spring wheat, SIC; No.
northern, Csc; July, 57a4c Corn higher; No
white, 3Sc; No. white, 376p37a4c. Barley
nominal; No. 2, soc; sample, 51G55c. Rye
dull and lower; No. 1, 49c.
/. Chicago.
Special Telegram to the Tribune
CHICAGO, May 9-First cables this
morning were bearish in tone and second
cables advised of further declines. but our
local talent were not dismayed. They be-
gan to bid lively for July wheat on financial
troubles in Argentine, and drought in Cali
forn1a. 1t was known that the market was
greatly oVersold yesterday The small
shorts got scared at the strength display ed
ana bid prices up causing advance of
%sc over yesterday. Partridge commenced
selling at the advance, causing a sharp de-
cline. There was. however a small under
current with some good buying, causing
another rally to the top figure of the day.
after which the market ruled dull and fea-
tureless with the undertone inclined to
be strong. The government report due to-
morrow, is expected to be bearsh, but the
smaller traders feel like evening up pend
ing its appearance. Clearances from the
seaboard were liberal of both wheat and
flour.
May wheat opened at 57Ac against $3.50
Yesterdays close; lost 1sc by 1890 and
closed at SIC.
July wheat opened at 5Sla@585sc against
5SasG5S12c, yesterdays close; sold at 5S1bc
straight, firmed up to 59c lost $sc again
touched sc, lost Sc gained Sc sold down
TO 582sc by 12:40 and closed at 5Sa4 n5SBc.
September wheat opened at $3.50, against
59Ac yesterday, advanced to 60Ac, lost &c,
firmed up to 6OAc, sold at 601sc by 1910,
and closed at Coo.
NEW YORK, May 9-Flour-Steady
Wheat-Receipts, $500 bu; sales, /, 49O 900 blu;
options, No. 2 red, firmer on unfavorable
crop reports from California, but heavy
selling lost the advance rallying before
noon; May, 594059 Lice: July, 6114@615sc;
ern, 5lG52c. Corn-Receipts, LOCO blu; sales,
a45c. fs~Receipts, ss, 400 bu; sales. s S. coo
bu; options, No. strong; May, $3.50 d39c;
July, 3l1243S1sc; track white state, 41G46c;
track white western, 41646c. Beef-Dull;
family, $l2913; extra mess. $7.5OmS5O Pork
Dull; new mess, s1375@14; family. $145OM
Is; short clear, $14.50@16. Lard-Easy;
prime western steam. $7.S5 asked. Butter
Receipts, All packages; steady; state dairy,
12@11c state creamery, 15M17c; western
dairy, SMl2c; western creamery, 13d17c; FL
gins, lie. Cheese-Recepts, 6,60S packages;
quiet; state large 9AM11Ac; small, 91am11c;
part skins goa 911c full skins 1O2c E,oyc