St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-03-08

local crowd is still short. The tone of for
eign markets is growing better. We think
the situation and outlook warrants higher
prices and advise buying wheat tor sharp
upturn. Corn is stronger, receipts moderate
and weather less favorable. A Baltimore
house has bought largely in northwestern
Kansas Git is said over 10000 900 bushels)
for March delivery. There was some good
buying to-day forlong account and the shorts
are less confident. We look for
a cent or two rally. Oats are
dull and firm; provisions quiet and stronger;
There is no feature of interest, but well in
formed insiders say that hog products, par
ticularlv pork and meats are purchase on
breaks. It is rumored that the French de-
cree will be rescinded, but nothing definite is
known about it,
Crittenden & Harvey say: "Wheat opened
firm and with moderate trading, largely local
in character. Prices were moderately well
sustained throughout the morning, closing
firm. We note some pronounced buying
yesterday and to-day by good parties. The
feeling seems gradually improving all
around, but bull operators APP
pear working cautiously and hold
ing off for some one to assume
the leadership. Wheat looks cheap and the
market acts stubborn, and owing to the
large short interest is now in the shape to
improve materially, and as we feel we would
rather buy than sell, but would try and get
in on weak spots. Corn opened strong and
averaged reasonably active and higher most
of the time Receipts were smaller and the
shaking out of yesterday seemed to infuse
life into the dead. We look for a further
decrease in receipts and Increased speculation,
and if our views should prove correct, think
the market will do better. The feeling
here is of an Indifferent nature
and there seems to be considerable inclina-
ton on the part of the largest traders to hold
off and let values drift lower if they will.
The trading is going into the summer futures
more largely than heretofore and some OF
our best operators appear to be buying quiet
lyalong for June and July Oats are dull and
absolutely bare of speculative interest"
Trading in cattle was again slow, the re-
ceipts were $500 and the feeling weaker,
sales of fair to good dressed beef
and shipping grades being made at %
(d30c lower than week ago; butchers and
caryers stock is steady with u fair demand,
but stockers and feeders attracted little atten-
ton, there not being enough of the kind
wanted by buyers on sale.
Receipts of hogs to-day were 10000 The
market was quiet and prices fairly steady
on the best heavy. The average shows little or
no change. High grades were neglected and
ships are again accommodating it being esti-
mated there were $500 to 5000 in the pens
unsold last night at the close. Packers,
it might be said, are out of
the market, they only taking 5000 yesterday,
and the shippers 1921. There is no life in
in the trade, and the outlook is decidedly
bearish. But for shipper, there would scarce
ly be any demand.
Receipts of sheep to-day were 1900 head.
There was fair local demand, both by the
pressed mutton dealers and city butchers, but
shippers were doing little or nothing, as the
eastern markets a.e full of stock from near
by points with lower prices than last week
The bulk of the stock on sale was
from the west among which were some
good flocks that were bought by Armour 81
Swift at $3.50, averaging 125 pounds. There
are large numbers of poor and scabby domes-
tic sheep for which there is literally no de-
mand. Some of these were offered at $3.50,
with So the only bid.
A strong European demand has developed
itself within the past few days for spring
wheat flour, and to-day Messrs. D.
E. McConkey IL Co. effected a pur-
chase of 10000 sacks. This firm within
the last two weeks has purchased some q 900
sacks of a special grade made from No 3
spring wheat, which will be promptly shipped
to English markets. The price, however, is
kept private Western milers are in some
instances sold as far ahead as the middle of
April, having received several large orders
from seaboard markets. High rates of for
eign exchange and low rates of through
freights have been favorable for the export
demand, and European buyers evidently APP
pear to realize that the stocks of flour and
wheat in the northwest can now be obtained
as favorably as they can hope to obtain them
at any time up to the opening of navigation.