St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-09-27
BEAR DAY IN GRAIN.
In Face Of Bullish News the
Market Steadily De- 55''
clined.
III "
CABLES WERE WEAK
And Spectators Timid--Pro-
visions Weak in SYM
pathy.
Low RECORD ON WHEAT.
Once More 1t Is Broken
Stocks Also Go Down
~
t-4it Wdfus
! Low RECORD ON WHEAT.

CHICAGO, Sept. 26.-It was a bear day
in the grain markets. With no particu-
lar cause aside from weak cables, prices
declined all day and at the finish the
markets were limp and weak. Deem
Der wheat closed &c lower, May corn
1c lower. and May oats &c lower. Pro-
visions sympathetically finished at de-
clineS.
.- The wheat market opened weak in
accordance with the recent custom The
shorts were given a good opportunity to
cover, and largely availed themselves of
1t. That steadied the market, and Oc-
c%asionally there was enough of the class
of buying during the forenoon to give an
appearance of strength and to add
a triie TO the opening figures.
The routine market news was more
Dullish than bearish, but the bullish
items were generally received with dis
belief by the bears. The covering of
short wheat, although heavy for a time,
failing to cause more than a fractional
advance from the initial decline, the
same parties who had in that way
steadied the market turned around as
sellers about noon and the market was
found to be exceedingly soft. The price
yielded easily aud a heavy further de-
cline ensued. December opened at from
54c to $3.50 compared with SIG at the
close yesterday. 1t rose gradually to
sac. but was with difficulty held
above sac during the forenoon and
finally broke to 5319c. Chicago receipts
were l6l cars; Minneapolis and Duluth
reported S66 cars. compared with SAL on
the corresponding day of the year be-
fore. Primary markets reported an
aggregate of u.s. 99 blu, including re-
ceipts at Kansas City. Atlantic port
cl%earances were 1874, 900 bu IN wheat and
flour together. Foreign markets were
weak. An u~nauthenticated report of
damage to the Argentine crop had little
influence upon the market. but a state
ment ascribed to The American consul
at Paris to the effect that there had
been So per cent more wheat raised in
the world this year than was necessary
for consumption was apparently &C
cepted as not unlikely. The market
flushed weak at 53Ic for December.
The corn market was very weak. The
receipts were light today, $50 carloads.
and not heavy for tomorrow at an esti-
mate OF 212. The country holders have,
however, been weakening for some
time, and many of their stop loss orders
were encountered on today's decline
and aggravated 1t. Much covering of
short corn was done on the first break,
but when the shorts saw that their buy
ing was the only support to the market,
they acted as did their cOnfereeS In the
wheat pit, putting out again more than
double the quantity they had covered.
There were a few sales Of May at the
opening at Size, but sic was much
more generally current. There fol-
lowed a firmer appearance on the cov-
erilIg of shorts already alluded to, but
weakness. pure and indebted, was the
concluding experience of the raders.
The price declined to 5000, and that
was bid as the session ended.
Strong sympathy between corn and
oats continued to be the chief feature
of the latter market, in which a fair
business was transacted. Trading was
principally local. The demand and
offerings both were small. Values were
easier. May sold from Sac w to $500
3419c, and off to $500; and at the close
was at $500. Provisions were weak in
sympathy with the sick grain markets.
Boyd-Dunham 4 Co. were at one time
very free sellers of January ribs, and
Irwin Green, Schwarz.Dupee and Logan
& Co. were heavy sellers of lard. Lard
and ribs closed at the lowest of the
days range, but pork lett off with a
recovery of 5 cents from the bottom.
Compared with the latest prices on the
day before. January pork is 10 cents
lower. lard and ribs each "a cents
lower.
Freight rates steady at 1Lc for wheat
and 1ss cents for corn to Buffalo.
The leading futures ranged as follows: