St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-03-05
Pork Moderately Active and Low
er-Lard Weak and Little
Doing.
Wheat and Corn Steadier in Tone but
Irregular in Prices-Pork
Closed Steady.
Cattle Weak and Lower With Light Shipping
Demand-Hogs Weak---Sheep Quiet
at Fair Prices.
The Wall Street Market Still Active With
aDreary Outlook for the Bears.
CHICAGO.
Special TeIegram to the Globe. ]

CHICAGO, March 4.-The market for wheat
and corn was irregular and unsettled and al
though the range was about the same as yes
terday, the tone was steadier, and after nu-
merous fluctuations finally closed &c higher
on wheat and &c on corn. The bulls were
jubilant at the opening, which was shade
oyer last nights close, and small advance
was afterwards caused by free buying on the
continued cold weather. Crop news was
scarce, and the early advance was soon lost,
although there we're more outside orders.
Trading was chiefly local. Cables quoted
spring wheat lower, but winter higher. New
York was also weak and lower. This news
caused the break at which the shorts filled
freely. The general impression prevailing is
that trades were well evened up. When the
visible supply was posted showing decrease
Of 10000 bushels in wheat and the pur
chase of cargo of $500 bushels Of No. 2
spring for shipment at the opening of navi-
cation by j. H. Milne, the feeling became
firmer and the bulk Of the decline was near
ly recoved. The market closed steady. Les
ter & Co. sold May corn freely and bought
June duu July. nuih"Ni
of small operators also. followed
in their wake. The appearance of Fred. Stan
ley as buyer at noon impaired more
strength as he took about 500, 900 bushels il
large lots and gave up Nat Jones as his
principal.
Cudahy & Stevens ran the pork market to
suit themselves, hammering prices from
SIS to S17.57L with merry little trading be-
low $17.75 At the bottom they began buy
ing and caused return to s17.577l, and the
market closed steady.
Wheat opened strong and quite active, the
first sales of May being at orc and with spir-
tied bidding to fill small orders. In
connection with covering shorts and
buying by scalpers who anticipated
a large demand from the outside, prices sole
up to 97H. The rally, however, was of shor
duration, and those who had bought early il
anticipation of an advance, predicted OF
large outside orders that failed to come, find
ing that the market was not supported, com
menced unloading, and the increased pres
sure to realize reacted prices downward te
965S. The decline induced free buying Il
cover shorts. There was also
rumor that $4,000 bushels had
been bought here for export.
The visible supply, as compiled by the board
of trade, also showed decrease of sol, 00(
bushels since last Tuesday. These factions
contributed to restore confidence during the
closing hour Of the session, and prices CLOSED
at 97c@97%.
Corn again followed wheat, the only ele
ment of strength being good shipping de
mand for low grades on track. This was
however, more than offset by an accumula
ton of stocks here and al
other points. The board of trade
SCI, 900 bushels. The inspection here to-day
was 443 cars, of which 100 were contract
against total $40, 900 of all grades yester
day. Opening sales showed an advance Of
&c, but prices weakened with wheat ani
receded "a and the late rally in wheat brought
better demand from shorts and scalpers
Prices rallied and closed nc under the high
est price.
Pork was moderately active but prices wer,
lower. There were no new features of lie
gitimate character to influence prices eithe
way. Changes were entirely dine to the man
ipulations of the provision ring. Tha
opened shade higher, declined 4O@4215
rallied and after sharp fluctuations closed OF
change at about 7379@10c under the last sale
on the regular session yesterday.
Lard was weak and declined 75S@1oc pc
100 lpounds but closed about the same
as on 'change yesterday and trading
as usual was of scalping way between local
dealers. Short ribs were quiet and averaged
a trife lower, about the only buying being t.
cover shorts, or for scalpon slight upturn
and prices after declining 71l@10c per 1O(
pounds, closed about the same as on Mon
day. There was scarcely anything done il
other meats.
The following was the visible supply Of
grain as compiled by the secretary of the
Chicago board of trade on the dates named: