St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-01-06

10, 400, 900 bushels less than the average for
five years, and q, 400, 600 less than the visible
supple OF the world last year. Add to this that
the western farmers have sold and brought into
sight Is, 1000, 600 bushels more wheat than
Year ago, and in the northwest larger pro-
portion OF the crop than ever and l chsl-
lenge anybody TO point one single fact hearing
out the theory of over production. The crop
OF 1882 was the largest ever raised. That OF
1888 was small, but not as small as that OF
1883 must of necessity be from the fact OF
reduced acreage only. 1t is well known that
the bins of the world have hardly ever been
so empty as they were last June. The two
crops OF 1882 and 1883 were entirely con-
sumed There has never yet been glut OF
human food for any length of time and
never will be. 1t is simply physical as well
as economic impossibility. There is no
glut now except in sight here,
but take from this pile and place
10000, 600 bushels On the continent,
the same in the United Kingdom, 3:000,0 900
in slow sailing ships on the ocean, and put
lO,OOusOOO Dath Al liiC Adi LlNlS iAht9f IL
other words place SO, 600, 900 bushels back
where it belongs and wnere it has usually
been and what would be the result! Wheat
has recovered Zoe. II might advance zoe
more, and yet be low, very low, as measured
by former years. There is not one solitary
bear argument visible that can't now be eX
ploded. Two weeks ago there was not bull
argument advanced that every little scalper
could not demolish in minute. There will
be lots Of changes from now on, and those
who would not buy at roc will be the biggest
buyers on top"
wheat will sell at 90c in ten days and
81 before March" The excited black
whiskered broker who said this to the writer
said it 50 em phat cally and SO fercely that it
was scarcely necessary for him to add as he
did: ''I've lost $50, 900 on the bull side of
wheat, but I'll make double that on this
bulge
''Who's long2" was asked Of broker.
"Why, everybody's long" was the answer;
"Tom, Dick and Harry. Pve had orders to-
day from Montreal, from all the little speeu-
lators I ever at any time did business for.
The country has the stuff. There's a craze
to buy"
Said another, Everybody is buying. I
sold out my wheat at 74c, and have bought it
back three times since, and each time I've
bought it back I've paid more money for it.
There are lots of bulls like me, who have lost
so much money on the bull side that when
they have a little profit they can't keep their
hands off of it, They must take il where they
can look at it and get their fingers on it,"
Even corn caught the raging bull fever,
cation 10 join in the general fray. February
and May both opened &c higher, and contin-
ued TO keep pace with its ambitious associate
in spite of the fact that Liverpool was slow,
and Is pence per Genital lower. Receipts
to-day were smaller, being only POS cars
against 33S Saturday, while only 50 of the
lot graded No. =, but New York and ST.
Louis were both higher on corn as well as
wheat, and the crowd here were literally
compelled to 20 in and put up the market
in order 10 keep up with surrounding mar
kets and movements Corn, however, is not
high at present figures when compared with
wheat. May touched 4O%c, but lost 1Ec late
in the session, and closed at 40c, February
at 37c, &c lower than the highest point.
Provisions opened strong under rather
light receipts OF hogs, and in sympathy with
the general market. The result Of the bull.
movement in wheat seems TO have been a
determination on the part Of outside specu
iotnrs to buv .vsrvfbipo op6 fbis uas ,,ar-
haps the principal factor in the advance of
provisions. Several prominent mbers
had large buying orders this morning, the
illing of which, together with the covering
of shorts by local operators, put February
pork from an opening Of 81 60 up TO Sl2, an
advance Of size over Saturdays close. Lard
went up IKE for January aud l2I(c for
February over Saturdays last quotations.
February being quoted at $500, while ribs
went up 20@25c. Later the demand fell off,
and large estimated receipts Of hogs for to-
morrow, together with soft weather, unfsvor-
able for packing, caused packers to become
free sellers, which brought about a reaction
OF 22l5c to close Of s1l.771I in February
pork, sc TO a close Of $3.50 for February lard
and nc 10 close OF S5.gIt5 In February
ribs,
At the stock yards there were liberal re-
crIpts of cattle, with the best shipping and
ressed beef sorts making equally as good
prices as last week, but on common there
was 4 down turn Of l0@l5c. The receipts OF
hogs were only moderate, falling consider
ubly short Of the antcipailons OF those on
the bear side. This, with an up turn In pro-
visions, drew cut strong demand from
packers, and the fresh arrivals
were sold out earlv Prices.
as compared with Saturday, underwent
little or no change. A few sales may have
been made at higher prices than on Saturday
but the general market showed no substan-
tial advance.