St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-08-07
CORN TAKES A JUMP.
Speeter OF Drought Again
Affecting the Cereal
Bullishly.
RISE OF OVER THREE CENTS.
Speculative Markets in other
Grains Strong in SYM
pathy.
BEARS ON WALL STREET
Make a Determined Attack
on the Grangers--Stoeks
Weak.
BEARS ON WALL STREET

CHICAGO. Aug. 6.-The specter OF
drought in the corn belt was again in
evidence today, and the speculative
markets were all strong under the lead
of corn. that grain making sensational
advance. 1t was at one time 3Mc per
bu higher for September and 21sc
higher for May than the close Saturday.
and left Oft with net gain of 314@21sc
respectively. Wheat closed PC up COM
pared with Saturdays close. CATS
gained 1c and provisions advanced
slightly also for near deliveries. and
soc per Dbl for January pork.
Wheat was rather quiet and Inactive
at times, with the range tor the day lc.
The feeling developed was on the whole
firiner and values ruled higher. The
surrounding influences were mainly of a
bearish character, and the strength to-
day came from corn. Outside markets
showed considerable strength, but 1t
being holiday in England. NJ cables
were received fIom there. Berlin was
quoted steady. The visible showed
an increase of 2,S57.000 bu, or
about as anticipated. Local receipts
were heavy .025 cars. but included
Sundays work Oh Soino OF the loads,
Receipts in the Northwest were mod
crate, but larger movement is eX-
pected, owing TO the premium of Sep
temher wheat in that section. New
York was credited with buying mOder-
ately aud prominent coal operator
here sold freely at the advance. The
export c!earauceS were small and aggre-
gated 1000 bushels of wheat and flour,
of which l1S,000 bushels was in flour,
September opened &c higher at 54r.
sold to SOC, declined 10 $500 and closed
al 545sc.
Corn was nervous and unsettled,
fluctuations covering 21a@31sc range.
The feeling developed was again strong
er. and still higher prices were secured.
The strength was due TO the weather.
there being no rain in the corn belt,
with the exception Of showers at Val
entlne, Neb., and the West is still prac-
tically dry. The country was again
prominent on the buying side. the
Southwest III particular. while the selling
was principally by local professionals,
who. while still disposed t0-Oppose any
advance, were rather more conservative
in their offerings. Elevator people were
credited with buying September. and
one of the largest commission houses OH
the floor, which II bought largely OF
late, continued active on the buying
side. Room traders who usually OPP
crate III wheat were giving their atten-
ton to corn and sold rather freely.
Shorts were inclined to cover, some on
the theory that the various state reports,
which are now expected daily, will be
decidedly bullish and might cause a
stampede i'll prices. The market was
further helped later in the session by
the weather forecast for the next thirty
six hours. which indicated 10 rain
in The West except showers
possibly around Dubuque. Outside
markets were ali up. and receipts were
smaller than expected. The market
opened $l@lc higher than the close on
Saturday. with September at 5015c, and
sold up &c more, eased off &c, rallied
214@23sc. declined 3s01c. ruled steady
and closed at 531Sc Tor September.
Oats were active and stronger in SYM
pathy with corn. The range for Sep
TENDER was 1c.
Provisions were firm on the strength
in the grain market. but the market was
quiet. Compared with Saturday night,
September pork and lard are each sc
higher. and September ribs 715c higher.
Freights dull at &c for corn and oats
to Buffalo.
The leading futures rangedas follows: