St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-03-30
ern s5.5o@5 go; common s4.75@5.a5; lambs

ern s5.5o@5. go; common s4.75@5.25; lambs
$5.50@7.
Milmine, Bodman & Co, say: "The
trading has been moderate and confined to
the scalping element chiefly, with few out
side orders. Country operators, who
generally work the bull side,
have weakened under the fine prospects
of the growing crop and spectators in the
cities have generally closed or shifted their
deals SO that now we have picnic of our
own and the trade is drifting into the hands
of the scalping crowd. 1t looks as though
we should have an active scalping market
within narrow limits until some of the large
home or foreign spectators come in to dis
turb the little game. The deal shows no real
strength, and there is nothing doing for
export that we can hear of. If all
the reports that have been current
of lgte of the amount taken for
export were true, we should not have much
wheat left for sale; but we doubt very much
when it is all scraped together and shipped,
whether it will exceed one million bushels.
and New York says there has been no large
business in the export line even at the de-
cline. AS we have often said heretofore in
these letters, we see no use in bulling wheat
until the export movement shows much
larger. We think the market is in condition
to be sold down easily. Should the large
operators attack it on the hear side, there
would be no resistance on the buying side
to speak of, and we think it
good sale On all bulges. Corn is a "daisy,"
with the feeling strong, which has been
brought about by the large shortage and the
sharp falling off in receipts. We think corn
safe purchase now on all breaks, and in
shape TO be forced to much higher prices
should any concert of action be obtained
among the buyers. We would not advise
short sales except ON bulges."
Crittenden & Harvey says: 'We look for
a little further decline if the weather should
prove favorable, but hardly be-
lieve it safe to short the
market much, as the parties buying,
ifin earnest, are competent to push values
for wheat which are already low, to much
higher range. Corn may sell a little lower
temporarily but we would buy on all breaks
as we believe we shall soon see better
prices"
Lindblom & Co., say: "wheat has been ex-
tremely dull and in the advance of any spec
ial feature has yielded somewhat to the nat
ural bear feeling among local scalpers, who
are the principle traders at present Wheat
is too low to sell short and the bulls need
time to recover from their late defeat; so
we may look for dull markets. But some
day in the near future it will be discovered
all at once that there is no wheat for sale, and
the advance may be as sudden as the decline.
Those who keep cool and buy wheat on weak
spots now will not be apt to have their peace
full slumbers disturbed on that account. Mil
waukee, which was a cent below US, is now
cent above US, indicating genuine demand.
Corn has attracted considerable attention, adj
vancing a cent and losing part of the advance.
Our May corn has been the dumping ground
for all the corn in St. Louis, New York, Bal
timore and the entire country for the past
three months, and the outstanding contracts
are immense in quantity. The fact that corn
is as high now as when May wheat was 96Hc
and low grades on track are sc higher, ought
to arrest the attention of operators. Receipts
are increasing all over, and when navigation
opens a large lot of corn will be moved out
at once. We have had good sharp rally,
and many holders have sold out, expecting to
buy back cheaper. They may succeed"
Crosby & Co. say: ''Wheat has been
weak in tone and dragging in tendency to-
day. The trading was wholly local. The
spasm of activity incident to the decline hay
ing spent itself the trade is again confined to
local scalping. The volume of business was
light and without feature and the market had
an appearance of stubbornness at intervals
in sympathy with the strength in corn. The
weather and general news were bearish, and
the curb closes weak at SS1sc sellers May
with lower outlook. Corn is more
active and shows much strength.
The latter is partially due to light receipts and
a light country movement, both owing to the
condition of the country roads. Present
prices would warrant more confidence, but
for the fact that everybody has a confidential
pointer to buy corn with the usual accompani-
ments Of reported deals and things. Corn has
had too many friends for four months past,
and the present situation is no exception to
this in1iction. We think it will require con-
slant support, particularly if wheat fulflls our
expectations of future Generalization