St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-03-12
WHEAT BULGE
Unfavorable Weather Reports and a More
Pacific Labor Outlook are the
Cause of 1t,
And a Favorable Construction of the Gov
eminent Crop Report Helped the
Mild Boom Along.
Wall Street characterized by Life
less and FeatureIess Market
With IL Bearish Tendency,
Which was Particularly Marked In
Western Union--G Ossip From
the Marts OF Trade.
Cbicaro Grain and Provisions.

Special to the Globe.
CHICAGO, March 1I.-Despite the continued
mild, spring-like weather, there was htue
bulge in wheat to-day. Prices went up ut u
single jump 20 right ut the opening OF
business. Trading all the forenoon was at
higher range than yesterdays close, yet the
feeling was nervous and the crowd so thor
ougly .crammed with conflicting news and
rumors of various kinds that nobody would
have been surprised if the bottom had fallen
out of the market any minute. 1t was u
typical March market. Even the little bet
tiers who stake their pile every day on tue
curb are full Of "wisc saws and modern in
Stances" and nearly everybody turns sta
tistician. The raise in the wheat pit
goes on. Meanwhile the market looks
weak to some people, as prices are being
marked up, and strong TO another lot of fell
lows when the quotations on the blackboard
are going down. Prominent among the bun
features this morning were the various re-
ports of unfavorGble weather Tor winter
wheat in the southwest, firm cables ana the
more
PACIFIC OUTLOOK
OF affairs in the disahected labor market.
Then, 100, the government crop report
(Which traders did not have time TO digest
Yesterday was claimed by the bulls as
favorable showing. After the more urgent
demand was satisfied the market rcceded 10
s43sc, and then reacted To about the
opening figures. closing ut S5Oo51sc
Al / o'clock. ON the afternoon board May
wheat easeu OF from S5US51sc on the Spht
at the opening TO S45sc, but recovered the
ground lost. Based on yesterdays latest
prices there was an actual Improvement to-
Gay in wheat OF 3sc, with other articles essen
TALLY unchanged. Corn and oats in the spec
ulaUive market have relapsed into their
tormet condition OF dizziness. There was
hardly enough doing 10 keep the traders TO-
est possible range. Provisions were dull,
mess pork tluctuutIug but &c, and lard and
ribs , pc during the entire day.
CHANGE CHATTER.
The open board men are pleased with their
call.
This morning the trading IN grain on the
haif-hOur sales aggregated 100000 bushels.
Puts on wheat good for all OF next week
were quoted to-day ut Sl123S3c, and calls at
51ls0SSc.
On the curb this afternoon May puts sold
at SIZE with S5llc bid for calls.
Among the visitors on change to-day were
II. VI. Rollins, st. Paul; e. NJ. Burlingame,
Duluth, and John Dudley, Minneapolis.
Hutch says there is no good in wheat.
Rcum says the same thing. Both have been
buying 2 little Tor several days, trying to bull
the market. but they have sold out again and
given the job up as a bad one.
1t was reported that the Minneapolis crowd
were moderate buyers OF May wheat while
it hung around S5c. Crosby & Norton also
bought At thar figure, while Edwards, Bald
win X hammCrer sold.
May wheat" said a big trader to-day, sis
at war prices. Big operators bought it
months and months ago and hung on to it.,
expecting war news in every edition of q
morning paper, Jut the news failed to ma
teraize. At the same Uirne those 'longs''
were afraid 20 soil and the price Of wheat
never went back where it should. Ia gen.
eral way we are higher than any market in
world on wheat"
Just at the close Hutchinson offered 5000
bushels OF May wheat at S5c, with no takers
The strength OF May wheat even leads the
knowing OneS 10 reiterate their certainty that
David DoWs has NOT yet given up his designs
on the May option.
The March agricultural reports favored the
wheat bulls.
Bows is said to have engaged steamer room
for 600.0J0 bushels OF corn.
''rwo unusually heavy bear operators are
credited with having sold wheat freely to-
day" said Evernghum, las high as 100000
bushels being named. but l don't belieye il
possible, or if il is. the fact of the market
having taken ii as well rs it has, ought TO in
spire confidence in better markets for the re
mainder OF the week"