St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-07-06
WHEAT IS FHLLIpG.
FAVORABLE REPORTS CAUSE A;
BREAK IN A MARKET THAT
OPENED FIRM. =
EARLY BULL NEWS FIZZLES.
UNEXPECTED DEVELOPMENT IN
MISSOURI BRINGS ON A SUD-
DEN SLUMP.
CORN AND PROVISIONS LOWER.
Weakening Advices From Across
the Water Put the Last
Touch to Quotations.
EARLY BULL NEWS FIZZLES.
CORN AND PROVISIONS LOWER.

CHICAGO, July 5.-After hard strug-
gle for higher prices wheat turned
weak today on favorable crop reports
and lack Of export demand, closing
9sc lower for September. Corn closed
5sc lower, oats sc lower, and provis-
ions at general declines. SteadineSs
on the foreign exchanges, and rain in
;ermixed with high temperature in the
Northwest, gave the wheat market a
strong send-off and kept it strong for
all hour. Light receipts likewise con-
trIbuted their quota. to the aid of the
early advance, and later some tele-
grams were received from Minneapolis
which seemed to justify the apprehen-
sions which the weather report had
raised regarding the spring wheat.
The firmness of the wheat market con-
/ tinUed until the receipt of the Missouri
state crop report, which was of a sur
prtSing character and caused the loss
in d few minutes Of all that the market
had gained up to the time of it's re-
ceipt. The June report of the Mis-
souri, state authorities placed the con-
dition of wheat at 50, and now it puts
it at 70, Or IA points higher than i'll
June, which is so nlanifestly wrong
that the trade here soon got over the
scare and began to buy back some of
ull6 Wuettl lITOWll over WNen Cne report
referred to was first sprung. The gov
ernment agricultural bureau made the
condition of winter wheat on June l,
70, and the Prairie Farmer and Orange
Judd Farmer statisticians made sub
stantially the same returns concerning
it, and both Of the latter have since
brought the condition up from 80 to 30
points since June /. The state author
tiles were evidently in error in giving
the June condition as low as SO and in
bringing 1t up to 70. Now they are
only coming into line with the others
and correcting their previous estimate,
Which was entirely too low. The re-
ceipts of wheat here were given as "a
cars, but u of these were transfers
from irregular to regular city eleva-
tors. OF the II cars of fresh receipts
6 were new wheat, one of which grad
ed No. 2 and the other five No. 5.
Minneapolis and Duluth reported 1877
carloads received, against 316 a year
ago. st. Louis receipts were compare
lively liberal at 1900 blu, but Toledo
received only 1,572 blu, and Detroit 157
blu. The export clearances of wheat
and flour from the Atlantic seaboard
amounted to the equivalent of 81 900
blu, $4,000 blu of which was in the shape
of wheat. The English cables came
firm at the close, but Berlin was weak
and sent lower quotations, and the
market here began to give indications
of the need for outside buying orders.
September, which had kept within the
range of nA07134c the greater part of
the time was down around 70%c about
half an hour from the close, and rested
at 705sc.
Trading in corn was largely on local
I 81, No.,
sidering the moderate amount of bust
ness the fluctuations were frequent.
but not very violent. Between 46lsc
and 1890 for September, the price
moved up and down several times.
The generally stronger tone which pre-
vailed early was due to the moderate
exports and good demand for the cash
grain. Spot corn to go to store was
wanted at 46Ac. Receipts today were
160 cars, and tomorrow's inspection
sheet is expected to show 2i6 cars,
which will include the accommodations
over the holiday
The exports from the Atlantic sea-
board amounted to 10000 blu. The
Missouri state report remarked that
the promise for corn is phenomenal
and private reports from Kansas are
to a similar effect. September opened
at from 461ac to 46isc, sold as high az
463sQ46$4c, and down to 451a G453sc, near
the close, the latest trading being at
the lowest quotation.
In oats business was fairly heavy
and the market quite active through
out. With a general good demand from
shorts the tone was very firm and
higher prices were scored early in the
session. Later, however, when wheat
and corn broke, oats also took drop
and ended 1SG1SAc lower on near
futures and steady on the deferred de-
liveries. September ranged from 245sc
to 24c, closing at the low point.
The provision market was strong at
the opening and weak at the close,
Pork in the end showed a reduction
in prices since Wednesday Afternoon,
of 15c in September and 25c in July.
Lard is 21ac lower and ribs 7I2c. The
opening was strong on account of the
light run of hogs, and weak in the end
by reason of heavy selling by John
| Cudahy. The receipts of hogs for
Wednesday and Thursday, together
were only % 600 and today $4,000.
| Estimated receipts for tomorrow:
| Wheat, 43 cars; corn, 246 cars oats,
$50 cars; hogs, 11,C00 head.
| The leading futures ranged as Ioi~
| lows: