St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-04-15
CHICAGO.
Especial Telegram to the Globe l


CHICAGO, April 14.-Inactivitv was the
rule on Change to day both in the grain and
provision markets, in both of which the
values averaged lower and were irregular.
Wheat showed the largest degree of activity
and really furnished the key note to other
articles. Business in nearly all articles was
mainly in futures, the speculative demand
for anything dealt in on speculation being
light and prices mainly below the views Of
sellers for prompt delivery. At the close how
ever, the feeling in grain was better and the
last sales on change were firm and slightly over
the closing figures of Saturday, but so far as
could be judged the bulk of trading was between
local operation. The chief factor in CONTROLLING
prices was the weather, the early desline being
largely due to higher range of
temperature. which induced free selling,
while the reports OF an approaching storm later
in the day induced the shorts TO cover and Undue
ed some buying dy bulls who think property
cheap, hence they need but little
encouragement TO buy. Yet as stated
In previous dispatches the bull element
although convinced that quotations are low are
without an organization or strong active leaders,
hence they are easily demoralized and throw
their property the market at the slightest
sign of Encouragement, while the bears are
encouraged by continued success. and
being strongly supported by heavy profits are ut
all times ready TO stake portion OF their win
nings on a further decline. Wheat was only
moderatively active and the market was some
what unsettled, and this being a holiday
in England there were no cables
of reliable kind from that side. May opened at
S3QS3A, but soon receded to S29s ll53l5. The
market steadily advanced from that point and
closed Ike over the lowest prices or at s3Ia
@SS55 for May.
Corn active, the bulk of the trading being
done in May, for which there was good demand
to cover shorts. Fluctuations, however, were
rapid. The market opened weak and u shade
lower, declined to 4S1lc, closed on change at
1850.
oats were dull and lower at the opening. As
the session advanced frmer tone developed
and resulted in an advance of li@1sc.
Pork averaged easier. The closing quotations,
however, were 2214@25c under the ruling fig
ures at / o'clock Saturday. May closed at Sl7.15
and June at Sl7.3O.
Lard showed about the same features in its
movements as pork. May opened at Ss42H,
sold down to SS.35 and closed ct SS.35GS,371s
June closed at 1Oc higher
On call wheat was active and advanced so
&c, while on the curb it was even stronger, sell
ing up &c.
Mccormick, Kennett s. Day say: ''Bears are
numerous. 1t will be difficult to maintain a
material advance, with prospects of heavy May
deliveries unless stocks are largely reduced. But
there are some good bulls and we think prices
very low and the accidents all in favor of the
longs, hence we advice buying on soft spots. We
think com will range much higher this summer
Milyine, Bodman 81 Co., sag: 1--WE have more
faith in corn than wheat, but the bearish feeling
in wheat is carving everything before it and
corn must suner wrth the balance"
Crttenden u Har'ey say: ''The market shows
no sign of advancing much, though we would not
care to advise short selling ut current prices
Minor, Richards 81 Co. say: We cannot see
anything on which to advise buying. We con-
slider corn weak, and to be fair sale on strong
places"
Crosby s. Co. say: ''The decline to-day
brought wheat new friends, who bought freely
of long stuff and now our best working local tai
ent is bullish. This latter feature furnishes sup
port to the market weak spots and also the
contagion that breeds buoyancy when it is with
out offerings. The tone has changed materially
and is fairly strong, and we think the limit %
depression has again been reached
The market seemed destined to furnish fine
scalping opportunities, but it invites working on
the long side, as the tendency seems higher.
The closing to -night has a slight suspicion of a
short scare but wheat looks purchase on any
weakness tomorrow.