Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-12-21
A STEADY ADVANCE IN PRICE.
PROVISIONS MODERATELY FIRN.
CHICAGO.
LSpscial Telegram to the Globe.

and d9sp plte reported dull markets abroad
and an incre of half million bushels
in the 81 Z of contract corn,
prices were advanced 1c on the
January option and 5ac on May above the
closing on call yesterday. The receipts
Of only 217 cars and the attitude of the
longs inspired the shorts with such fears
that they not only covered very rapidly,
but also laised great talk about demand
ing g rule from the directors in regard to
mar2ins fer May as well as January corn
This may have been done to influence the
market, and it had that effect. There was
very large amount of realizing and
1t was common remark that
the holders of January would
undoubtedly unload if the boys would only
allow it. It looks to a great many as
though the January bulge would fatten
out much as did the December squeeze
The January holders are strong, but they
have been realizing and getting into Feb
ruary and May. Unless there is some
great change, however, a mild squeeze
may be anticipated, which will firm up
May.
The feature of the day was the move
ments of the January option which sold
up at one time to within 115c bushel of
May. 1t opened at 81 went up to 61%c
after few sales at &c, at which point
Schwartz i Dupee were willing sellers.
The market dropped down to 6115c, went
up to &c, when liberal offerings stopped
it, sent it back TO 6124c, which was bid
when I O'Clock arrived. On the call, $780,
O00 Of the million bushels traded was for
the May option at &c at G214c. John
Lester took half million bushels
He was also the heaviest
buyer of January and February.
Testers purchases kept the market
from sagging; but the curb was firm, al
though many expressed themselves as te-
LEVERS in lower prices for tomorrow.
Critten6en & Harney say: "We may get
little lever market tomorrow, but be-
Iieye corn has started for q higher range of
confidence
Among the shorts who sought to cover
today was Geo. G. Walker, who bought
May quite heavily. Roach sold puts" on
$4,000 bashels at 6234c tonight.
Spruance sold a lot Of February.
To-day the receipts of wheat were 103,-
624 and the shipments 24,295 bushels.
The visible supply showed an increase of
100000 bushels. There were very few
outside orders coming in, and foreign ad
vices we're unfavorable. The market
opened shade higher, soon became weak
under large offerings, among which were a
quarter of million bushels May which
Lester sold at 1.07ll. Then it
became stronger for little in
sympathy with corn, but finally closed
about 18c lower than on yesterday. Prices
were easier, and there was but little bust
ness transacted or the call. On the curb
there was no Improvement.
Oats were tame, but firmer feeling was
manifested and spectators are beginning
to regard them as a purchase.
Robert LindbIom and Nat Jones aston
ished dealers in rye by trading
in lot Of 100000 bushels.
1t closed firm, January 594, Febru-
ary 6015, May G615, AL bid.
Last September the writer report ed
''the woods full of hogs" This IVES done
upon the reports of careful travellers for
mercantile houses and inspectors sent OFT
by different packers. They do not ma
terialize in the market, and unless they
are being held back to eat up the soft corn,
my only explanation is that the reports
were net 10 accordance with the facts, or
the cars ran so fast upon which my in.
formants travelled that they got whole
counties massed together. The receipts of
hogs were only 10000, and there was
an increased demand from all classes of
buyers. While speculation was most
brisk in February and May, pork and lard
and short ribs received more attention
than of late. February pork opened at
SIS, and sales were made from
$14977a to S15.1212, finally closing on the
call at SIS bid.
Lard was mora active than on any pre-
vious day OF the week, aud an advance of
10@1219c on the whole range was made,
but not established. On the call snd
curb the feeling in lard and short ribs was
drmer and steady, and 80 advance of LOG
15c per 100 les, fer the latter was freely
made. The boys who few weeks ago
were selling large blocks of short ribs xr.
regretting their lavishness.
Lindblom & Co. say tonight: a mil
lion and half increase in wheat in siahs
and ehoat, put dsmper on the bull move
ment. This ought to be the last increase
for FIVE months to come, or break will
occur. Some export demand is reported
IN Now York at about $10 for spring,
which Is about the price here for May,
Which has to bring ST. 20 in New York to
pan out. Will exporters take it at that
when they did not take it at $1.Ol!. They
may-thsy have done it before-but We
never had so much spring wheat here as
now. SO we are Just a little skepticsl.
Wheat declined here in tie face of ad-
vancing tendencies in corn and pork. and
speculation appears to go out of it instead
of into 1t; but there is absolutely nobody
selling short. although bearish at