St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-02-13
PORK ON A BULGE.
1t Leads in the Advance, and Closes
the Strongest Thing on
the Floor.
The Wheat Bears Getting Very Uneasy
on Account Of Unreasonable
Weather.
IN and Oats Also showing Unusual
Life and strength in sympathy
With Wheat.
Ae Monetary Situation, New York
. Stocks, Grain Movement and
other News.
Chicago Grain and Provisions.

Chicago Grain and Provisions.
Special to the Globe.
CHICAGO, Feb 12.-Wheat was very
ervous to-day but the feverishness of the
,rket was not reflected on the black
Eds. fluctuations being within narrow
Gnds. The weather was the bulwark of
ieat to-day. But by that factor prices
aid probably have gone lower, as the
mper OF the crowd was bearish weather
lTed). Higher temperature holds values
seady beyond aqueStiOn. The amateurs, ="
S they have been termed, estimate the de-
EeaSe in the visible supply at about l, OOO,-
900 bushels this week, but they are some
what shaky in their figures. Ship
lnents have been general and re-
ports as to city milling demands
conflicting, and estimates are ''wabbly"
r a consequence. The bears say that if the
stocks do not show greater decrease than
1000, 900 bushels they will have the best of
it from statistical point of view. Wheat
opened at very nearly yesterdays closing
figures. and the tone of the market was
rather soft, but good buving hardened val
ues slightly. Then quotations fell away
&c. May selling at SAGE, but subsequently
54X@S5e, where it remained pegged for
long time The report of the nearby ship
ment of $500, 600 in gold to
Europe had a depressing effect, and
but for the ever-present feature of
a freeze the market would have responded
80 this dscouraging news, but the small
bears do not feel disposed to venture far,
and the big bears are not rampant. The
market dragged along until the close at 1
o'clock. The last hour was destitute of in
teresting or important features. The eX-
port of gold reported loading of 300. 900
bushels of Buffalo wheat into vessels and
the weather were the only items of news
for the traders to talk about apparently and
the Scalpers monopolized business with
a small profit to themselves. In the late
board there was no change in the
situation, closing prices being steady at
1890 for February, 79Tc for March, S5c
for May and S61lc for June. Speculation
got into May corn to-day and that option
advanced &c to Ale, declining afterward to
1890, and closing at 4056c. Early buying
was by Lester Warren took on good
deal at the top. The principal buying was
by the two parties named, 1.-THE crowd"
doing the selling. The generality of traders
could not quite understand the relation be-
tween February deal in New York and a
bulge iii May in this market.
Nevertheless the two days revival of
interest in corn shows how easily attention
can be drawn to that cereal, and is proof to
many that corn is not dead but sleepeth.
Late quotations were 5000 for February,
SIC for March and 1920 for May. Oats.
too, showed animation and strength, and
the market advanced 14@55c. Provisions
were rather more excited to-day. and the
tendency was upward. The light receipts
of live hogs and the urgent shipping de-
mand have bracing effect on provisions.
Tips from the grain crowd to buy lard were
numerous. and the market for that staple
was exceptionally strong, but not
much higher. Armour was quoted
as predicting that pork would sell at
S14 and ribs at SC a pound before sixty
days, prophecy that filled the speculative
bulls with confidence. Reports that the
movement of ribs into conSumptive chan
nels was on liberal scale pOpulariZed the
speculative deal in meats to-day, and a very
substantial advance was established i'll that
speciality. as we'll as in pork. The close
for May was S11.3719 for pork, S5.7215 for
ribs and So 25 for lard.