St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-04-16
AN APPRECIATION.
Wheat, After Fluctuating,
Rises Nearly Two Cents
Oh Bullish Reports.
Corn Follows in the Wake, and
Gets d Boost of a Clean
Cent.
Provisions Touched with a SUSPICIOUS
Delicacy, which Suggests Nam
Ipulati0n.
Purchases by the Shorts in the Last Hour
SaYe Wall Street From Demor-
aliZatiOn
A General Belief That Long Stocks
Were Sold Heavily on the
Rallies.
CHICAGO.
[special Telegtam 70 the Globe. !

ISpeclal IeleEtaIH 10 lle NrloDe.
CHICAGO, April 15.-The markets on
Change to-day were active, but the feeling
was feverish and values of every commodity
dealt in for future delivery were very irregu-
lar. Provisions showed a decidedly lower
average, although closing at highest prices,
while grain which declined at the opening,
rallied ana closed at a material advance
Wheat was as usual the leading article, and
the recovery from the lowest prices was
rapid.
There were numerous sustaining influences
to the grain market, and there is very
large class Of operators, both on and off the
board, who think that prices are lower than
are warranted by the surroundings, and such
parties are ever ready to back their judgment
with money when the slightest inducement
is offered, and such encouragement was not
wanting to-day.
On the provision side, however, there were
few features of a sustaining character The
receipts OF hogs were reported at II, 800 head
against 8, l47 yesterday. Prices were 15@920c
lower, the quality better, and adviccs from
the interior justifies the prediction of mi-
terial increase in the supplies at the opening
OF June, and the shipping demand for ell
classes of packing house products was very
small, hence there vas little to warrant CON
fidence in pork, lard or meats for future de-
livery, except to cover short sales.
Wheat was BY fat the most active specula-
tive article dealt IN for future delivery, and
with the exception Of an absence Of shipping
demand the factols calculated to influence
prices were largely in favor Of an advance,
the chief sustaining feature being the small
receipts, only fourteen cars being inspected
during the lasttwcnty four hours. The stock
in store showed areduction Of $50, 900 bush
els since the publication of the previous
weeks report. 1t WAS given out that the
consump ption and foreign imports since Jan
uary 1 showed an excess over the receipts at
the leading ports for the same time of 15,-
600, 000 bushels of wheat and wheat in flour.
Those who have been figuring on the
situation estimate tIat there is a short
interest of G0,000,00O bushels. The
weather was als9 unfavorable for spring
seeding. Private cabl.s ], ~ received quot
ing an ADVANCE of Id per GENITAL in Liverpool
at the open n however, there was feeling
of distrust and prices soon receded nc, but
there was IN active Luying to cover shorts,
and this with free takngs by heavy bull OPP
orators, quickly sent quotations up to the
first sales, when they again fell to the lowest
figures, which induced very large buying,
and prices rapidly rose until an advance of
* was sec urcd. The extreme range for
May was S33S@S5Ac, closing on change at
S5Xc. On the call, under free selling,
prices declined Sc, while ON the curb there
was further decline of &c. June ranged
1T@2c above May, and closed at 871Sc ON
'change, and at 862c ON call and curb.
Corn opened weak, and early sales were
made at slight decline, but as the day adj
vanced a stronger feeling was developed
and although the volume Of trading was only
fair, prices appreciated lc and the improve
ment was sustained at the close. The
strength, however, was largely due to the
improvement in wheat. Opening sales of
No. 2 were on basis of 493s@49%c for
May. From this point in symathy with
wheat prices declined to 4s5s@49c, but the
decline caused free cover ing by the shorts,
and a fair amount of buying for scalp by
the longs. who regard the grain as being
cleap. Prices steadily advanced to soc, and
closed on 'change at 495s@5Oc for the May
option. On the call thdre was free selling.
and prices declined &c. The inspection
showed 204 cars, of which IS were contract
grades The stock in stafo exhibited an in
crease during the past week Of 63, 900 bush
els.
Only a moderate speculative business was
done in oats, which opened quiet, but the re-
ceipts and offerings Were both light and prices
appreciated 94c, opening at 52@32115c for
May and closing on change at 323lc, while
On the curb prices ruled 4 higher.
In provisions the market ruled active, but
was irregular and lower. Based on yester-
days last quotations on 'change pork at the
close showed a decline of 35(04Oc. 1t was
fairly active in speculative way, though at
the opening, when the feeling was weak, the
movement, in fact was quite slow, but dur
ing the latter part of the session business
was characterized by more life. The feeling,
however, was unsettled and prices were cas-
ier. The lowest prices Of the day prevailed
early and the highest shortly before the close
May closed at s16.77(916.S0 On the call
pork advanced 5(0715c, but this strength was
subsequently lost on curb transactions.
Lard though stronger than pork relatively
was easier than on yesterday. The decline
from yesterdays closing prices was only SO
715c. Trading was very fair, the greatest
activity as in pork, being shown during the
latter part of the session. Cash lard was gen
orally quoted at the ruling prices for May.
May opened at sS.2215, sold up to S8.25,
down to SS.1715, and finally ub to $3.50, at
which point it closed, Lard was steady on
call, butwas easier and declined 21ac on the
curb,
Short ribs were in fair demand for cash,
but were weaker in speculative lines. May
closed 15c lower than yesterday, and June
1715c lower. On the call prices were steady.
Milmine, Bodman & Co. says: 'sThere is
marked increase ii the outside buying
orders now, and the market begins to look
stronger all around and We think it is in
condition to be bulled easily. We are about
ready to conclude that this wheat is unsafe
to sell short except on extremely short
bulges and at the same time it is quite safe
to buy ou the breaks. But the general
situation has not materially improved