Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1884-01-31
LITTLE DOING IN ANY CEREAL.
But Provisions Strong With an Advance
ing Tendancy.
SHARES IN WALL STREET HIGHER.
A Legitimate Increase in Prices Appal
emily Setting In.
CHICAGO.
Especial Telegram to the Globe. I

bled about IS min very narrow range of
1%c, and co.. within still smaller limits
Soaipers haggled over thair eighths and
sixteenths, while they did nothing. May
wheat began at 9835 and got as high as
998, but did not remain at either limit,
but moment. May corn started at
$3.50 and sold as high as 5724c
and as low IS 571lc, but within these con-
temptibIe limits as variable as wheat.
Provisions were the features of the day.
There were $4,000 hogs at the yards, and
despite the warm weather there was so &C.
tive competition between shippers and
packers that prices advanced 10@15c,
Manufacturers are amazed, and would like
to know where the myriads of great black
hogs which filled the country, according to
reports, have gone. They have not for
certainty been received here; they have
not been killed at any of
the other packing points in the country.
Either the earth has opened and swallowed
them up, or else early reports were all
false, and they never existed at all except
in the ratified brains of professional statis-
ticians. Live hogs are bringing nearly
6 cents per pound, while packers were led
to believe that they would get more than
they wanted by this time at cents.
1t is no great wonder that pork, lard and
ribs are advancing, and that packers who
have filed their cellars with this expensive
product are absolutely refusing to sell at
even the present advanced
prices. May pork, which closed
last night at $16.15, opened
at $16.30 and advanced TO $16.521%. Then
there was a little break, but at l o'clock
the close was SIG 40. Lard naturally took
the same course; opened at $9.40, an aj-
vance of 7115c, rose to $9.45, and closed at
$9.40. OF $1,000 hogs receiYed yesterday
over 5000 were shipped east
The January thaw is on. It is reguIsr
thing, and no surprise to anybody. It's
main influence is about the wheat pit.
The newspapers are preparing for the
January and February floods. The usual
gorges are being formed in the Ohio
valley, and before long the
winter wheat fields will be
flooded as usual. There is nothing new or
unexpected about these things. They are
as regular as Christmas and Washington's
birthday, so it is to be expected that other
things which follow in their train will
come too. These are the reports of ruined
wheat fields and the crop scare, and an
advances in prices of grain at speculative
marts. Whether these floods actually do
damage or not cuts no figure. They always
. produce alarm and raise prices. ,Conse
quently clever people know better than to
sell wheat at this juncture, whatever
their views. They simply stay out of the
market or buy.
Corn is neglected. Its turn will come,
to be sure, but just now wheat is having
its inning. At 1 O'Clock the CT ose was:
May pork $1640; May lard $9.40; May
wheat 984c,; May corn 5724c. On call
everything was higher; May pork closed
at $16.471a; May lard at $94215; May
wheat at $500; May corn at $50. P. FL.
Wallace g. Co., were large buyers of oats
and sent the May option to 371sc. Roche
bought wheat. Lindblom sold
corn. On the curb the feeling was
a trife easier, wheat going at SO z8c sellers.
Gables were steady and receipts moderate.
The warm rain of last night has left the
country bare of snow, and breeze would
bring reports Of damage to winter wheat
and cause sharp advance. We were food
ed with dispatches this morning reporting
wheat out of condition in New York, and
European markets depressed and lower,
while the local bears did their utmost to
cause break, but we close, nevertheless,
at the highest point of the day. We
can only reiterate the advice given in ali
our late letters to buy on every soft spot.
Estimated decrease in the visible supply,
100000. Corn is stronger and moderate
receipts alarmed the shorts, and, as we
predicted, they found very little corn Of
fered when they tried 10 cover. We think
corn good property, tAd believe May is
good in very strong hands. 1t is q pur-
chase on every little decline. Buy when
weak Don't wait for bulges when every
one wants it.
Oats are active and higher Good par
ties are buying May.
The stock yards were very dirty and
alleys sloppy under continued moist
WO6bhSL' 1loC01pl5 W SdURO AaAA IOe@A1J
1000 short of the corresponding day last
week, 30 that at the close to-day the num-
bers for the week are only about
1000 more than for the CORES ponding pc
riod last week. This fact had a stimuIat-
ing effect, and the general market was
considerably stronger, with an advance of
5@10c on all grades of shipping cattle.
Trade in hogs opened quiet, with first
sales. showing an advance of strong sc;
later it became known the receipts would
reach 1900. There was brisk competi-
tion for all On sale, and the general market
advanced 10c, and in some instances 15c
higher was paid. Packers, shippers and
spectators got about an equal share. There
are some statesmen that were following
the directions and instructions of country
shippers who hold their consignments
over for tomorrow.
There was big falling off in sheep.
Trade is rather slow. Eastern simmer,
bought nearly 5000 head yesterday. an6