St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-01-20

spring or summer California reports large
surplus yet on hand. Low prices and high
freights have kept it back.'
''The local situation," continued this
trader, 'is rather bullish. That Is to say,
the majority are long and favorable to an
advance. II 1t does not come pretty soon
decline may result. Large failures
last week disturbed confidence again,
and many prominent dealers reduced
their risks. The most prominent bull argu-
ment now is reduced acreage and probable
damage TO crops. In fact, it is the only one
comprehended by the mass. A heavy snow
storm has prevail over the wheat belt
and for the present all danger is removed.
Renewed apprehensiOns can hardly be ex-
pected before thirty days, and we may have
to depended on foreign advices and export
demand to move the market up anu down.
The market seems TO advance easier than 1t
breaks, and the chapter of accidents liable to
lower makes bears timid."
The strength in corn continues, and
rather increases, prices ranging from 4 to
Re over Saturdays closings. Foreign mark
cts reported slight advance, which helped
TO firm up prices here, the market ruling
stronger and higher, with active speculative
demand. 1t was remarked that this grain
had more friends to-day than any other grain
on the floor. Shorts were free buyers. the
Adams, who had been short large line of
May. covering about 1000, 600 bushels, but
al a loss. Baxter was a heavy buyer of long
corn, while Kammerer was heavy seller on
the top, his sales aggregating as much AS the
Adams purchasings, the closes indicating
an advance on the latest prices
of Saturday Of 14c on February
al $3.50, and 1le on May at 4215c. Receipts
were light, and the opinion is growing daily
stronger that the official estimates of the last
crop have been too large, and that We shall
never see anything Ike the amount of corn
on the market that has been harvested and
stored away on paper, Information from the
northwest is to the effect that supplies of corn
are very light in western Iowa. Nebraska and
Dakota, They could not bring more than
half the estimate. There is very little corn
in crib, and farmers are selling scarcely any.
They are feeding it to their stock, and many
these many are disposed to buy and many
to sell, the latter disbelieving all the reports
about scarcity, and looking for larger receipts
at later period.
Oats were steady and firm, the market
opening higher, but became easier under free
offerings. There was considerable realizing
in long oats, but the quantities sold were
obi TaI- b,te CHI 4
not fuetuate widely. The closings were:
January nominal at 271lc, March 275Ec,
May 81 3se The situations in oats and corn,
as regards a large official estimate and an
actual small supply are precisely identical,
an one will be very likely to follow the
other.
Provisions were generally higher at the
opening, the bullish feeling being strength
eued by small receipts of hogs and prcdc-
tions of continued cold weather, which will
cause diminished receipts for the week.
Mess pork opened re higher at
Sl2.60 for May, sold off Zoe, closing
shade under the opening figures
at Sl2.57JS. Lard was quiet and
steady at $6.9O@6.97]<, March closing at
Sc 95. Quotations for May are nominally
unchanged, opening at S6.421< and closing
at the same figure, atriAe higher than Satur-
days closing. Ribs were stronger at the
close, though there was no material alteration
in values, the offerings being light and buy
ers Ofish. March opened at 1928, sold at
81. 20(Q627J6, and closed at 1921 goes.
May closed at S6.421I, the highest point of
the day, 21Ic above Saturdays closing.
AT the stock yards the receipts of both
cattle aud hogs were comparatively light,
trains were arriving regularly and fairly on
time and a substantial increase is anticipated
for the balance of the week Cattle were
generally quoted higher and there was an
advance Of 59l0c on all sorts Of hogs, fancy
and closely assorted heavy selling at $4.75@
4.S0, with packers at S+.40@465.
The visible supply of grain on Jan. IL az
compiled by the secretary Of the Chicago board
OF trade, is rs follows: Wheat, a, 1881 900 bush
els corn. 4,si9OOO bushels; oats, 2,O22, 900
bushels; rye, $4,000 bushels; barley, 1,G35,OOO
bushels
Grain in store at Chicago Jan. Il: Wheat.
i4,36sOOO bushels corn, ABS 600 bushels; oats,
$4,000 bushels; rye, 10000 bushels; barley,
1900 bushels.