St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-01-15
The Bulls Manifest a DISPOSE
ton to Stick to Their
Knitting.
The Rise Checks the Export Demand
Somewhat-The Weather Gen
orally UntayOrable.
Heavy Line of Shorts in the May Corn
Option---The Price Somewhat
Higher.
ibares of the Grangers Firm---But Few
Stocks Dealt In and ManiPula-
ton Easy.
CHICAGO
Especial Telegram 10 the Globe. |

Oh 'change to-day were weak early in the
Iession, but firmed up later, mainly on ac-
count Of covering by the shorts, and the close
was at nearly the highest point Of the day,
which, as compared with yesterdays close,
being re higher at Sic for February and
s7I4c for May; corn &c higher for Febru-
sry at 375Ec and 3lc higher for May at Al &c;
oats 4 4c higher at 261lc for February, and
30L for MAY. Provisions shared In the
early weakness and later strength. and pork
closed l71lc higher for February at S12.l0c
and 12}lc higher for May at s19.471l. Lard
was 5e higher at SG.s71 for February, and
$7.l5 for MAY. Ribs were 121Ic higher at
SG.l2i{ far February and $6.3T1l for May.
Wheat opened easier and sc lower at
s53zc for Mag, under the influence Of the
weak tone and lower quotations Of foreign
sdvices. Heavy sales for short account at
the decline by Nat Jones, Lindblom, Car
ruthers and others were taken BY the shorts
and 10 I'll some large buying orders, the lat
ter chiefly from the east. At S535c, almost
bottom figures Jones sold 500, 900 bushels,
and almost before he had left the pit the
figures commenced TO advance. New York
strengthened soon after the decline was
checked here, and subsequently advanced in
proportion TO the improvement here. The
export demand there was light, advancing
prices having iuterfercd with the execution
Of orders. There was nothing especially
strong from any outside market, but reports
OF unfavorable weather generally prevalent
in winter wheat sections gave rise TO some
apprehen sions OF danger, and in the ner-
vous condition Of our market early sellers
soon became buyers, and By 1890
the price had reached SEC. At
about this point Hobbs took
200, 900 bushels, which encon ragged the bulls,
and their purchases, with liberal covering by
the shorts, sent the market up TO size by
the fV'elorAI close. When ihe afternoon
board opened il was found that New York
had advanced &c, and the first transactions
were. at l4o above the closing quotations Of
The morning. This was not sustained, and
the closing figures OF the last session are
about the same as those Of the first
''The feeling is firm" said 4. VI. Wright
Sand should the statements regarding the
reduced volume Of the crop left in farmers
hands prove correct, a larger appreciation in
values seems likely, hence / feel friendly TO
purchases when judiciously made and backed
BY good margins"
Hamill IL Brine say; eve cannot sympa-
thize with the views Of those who consider a
continued advance probable at the present,
as current prices seem already to have
checked 10 some extent the export move
ment from the seaboard "
The Chandler Brown company say: ''The
IL. . e, l., -.
ther increase speculation, which, with other
bullsh features, will tend TO further improve
prices, aud we believe that purchases on all
soft spots viii prove good investment"
Mlmine, Bodman X Co: 'There is
very strong undertoue TO the market and the
large operators stand by their purchases
much more confidently than formerly, and
this very fact adds much strength to the sit
uatlon. II foreign markets stlIeu on our
better markets to-day, we may get some fur
ther advance tomorrow. II seems to be
pretty well settled now that the bulls have
come to the front TO stay"
The advance in the price OF corn was
mainly due to the general movement to cover
shorts, seconded by light receipts and the
small per cent. grading contract Il is
claimed that there Is heavy line OF shorts
In the May option aud which will very likely
become visible in case the advance con-
uuucs. Hammerer coyeped extensively yes
terday and did not appear to have 50 much
interest Ia the deal to-day. Had others done
Yesterday what thcy did this afternoon, they
would now be richer by ~ per bushel on all
they carried. It was noticeable toward the
close to-day that a number CT traders who
were inclined to hover about the short side 4,
the opening had diminished considerably in
size. MAY opened steady and unchanged at
4OSs and went up pretty steadily to 4lhc,
n which il closed. February opened tSc
lower at 36t-c. went up TO 3Sc, aud closed st
sc, or lAc over Yesterday. Schwartz S
Dupec were among the most liberal purchss-
ers. The crop OF 1854 acts very singularly In
The slow way in which It comes forward as
well As in the varying quality Of receipts.
Many think there is a large amount OF Il
lying back. aud hence are afraid to buy much.
while Others believe the crop will never show
up according 70 official estimates. On the
whole the sentiment is rather In favor Of
higher prices.
Oats Verc I3S higher in sympathy with
wheat and corn. This market, as a rule.
follows the course of the other cereals. al
though oats may soon have sn independent
strength owing TO the small quantity in sight
Provisions we're weak early. a desultory
sealpiug trade attracting large share OF al
. tenilon. though the crowd gathered there was
fully as large IS usual. The packers seemed
g. De getting rid Of small quantities. but in
- doing broke the price Of pork SC from the
opening figure, which. az Sl2. % Tor Nav, wss
Il below yesterdays close. The weak
ness, however, VAS Of short duration. and
~iih ihe strength In wheat came good buy-
ing, which rapidly advanced prices until
tl3.5sis was reached. the close being 5c
lower Si2.+s'. Lard was rather quiet. bat
The feelinE vas strong aud prices moved up
IKE from the opening Tor NAY and closed
sise below top fgnnes a; s1.l5, which was sc
above yesterdays close. February opened
unchanged az s6Ssll, sold up TO $3.50 and
closed at $d.S1's. RIBS were also stroaE
and closed ls'ae higher a. S6.IsIs Tor Feb
ruEry aud S6.Ss Tor Nav.
~ the stock yards trade was rather slow
snd prices again rather lower than YESTERDAY
~ all descriptions of stock. As compared
vith same time last week, there has been
large Increase in reCsipts. The best heavy
hoks we're selling a. ASOEi g. s0SAs5, Ead