St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-03-27
A HEALTHIER FEELING
After Weak Opening the Wheat Market
Grows Stronger on Good Demand
for Export.
Corn Was Steady, But the Heavy Stocks
Prevented Anything Like Boom
Provisions Dull.
Wall Street Opened Lower With the
Feeling Bearish on Unfavorable
Strike Reports.
A Little Boom in Western Union and
Stronger Feeling in the Coal
Stocks.
ChIcago Grain and Provisions.


Special TO the Globe.
CHICAGO, March 26.-The wheat market
opened weak and lower this morning on
strike news, but cables. though conflicting,
We're generally tirmer. New York was
very strong on export inquiry and our
market quickly responded. Private al
vices from Liverpool and London told OF an
advance of Iii in the former and Is IN the
latter market, bat Beerbohm reported de-
cline of cd in California wheat and very
quiet feeling in the market for other Amer
lean wheatS. The feeling is gaining ground
very rapidly that the service rendered the
board of trade by BeerbOhm Is not only
worthless. but an absolute damage, in that
the news he sends is be,ated and mislead-
inc. May wheat advanced from S015Q0
Sl$sc, at which point the upward movement
was checked by Cudahy, who began plug
ging the market furiouSly. sending prices
back,,}5c. There was large buying, both on
the advance and on the decline, and as soon
as the pressure was lifted prices once more
pushed up, though not brashly. For May
S07s@S11sc seemed to be the established
quotations. \ large number of orders for
foreign houses were on the floor, but this
element, while seemingly very anxious to
buy, did not seem disposed 10 come quite
ally limited and 15@4c under ruling rates.
The news of a 400, 000-bushel purchase in
New York for immediate shipment was re-
ceived early, but discredit was thrown upon
the report for the reason that il believed
that all
AVAILABLE OCEAN FREIGHT
room was engaged 4 week ahead for corn.
The facts We're subsequently ascertained 10
to be about as given IN the dispatch. The
close at l o'clock was at the best figures of
the long session. The strike hangs about
the market like a mill stone. Pending the
adjustment OF the labor difficulties every
thing commercial and fiscal must remain IN
a nervous and unsettled state. The effect
is felt with as great force in wheat As in
stocks. The other markets were steady.
Corn for May delivery ranged from $500
3S34c. the ruling price most OF the day be-
ing 3S5SCo3S&c. The close at p. IN. was
385E@3054c The large stocks of corn alone
prevent 4 rise. as receipts show falling
Off, and exports an increase, but
with a, 900. 900 bushels in warehouse,
and as much in crib along the
railroads. the bulls do not feel justified in
booming things with any great degree of
VigOr The cash business is lively. Oats
were fairly active, and the market holds
firm at slightly improved prices. Provis-
ions were again dull. The opening was
weak at slightly reduced values on account
of lowering in the price Of live hogs at the
stock yards and the market was rather de-
pressed all morning. Fluctuations in quo
tatiOnS were within very narrow range,
and the aggregate of business transacted
was very light. The afternoon markets
were steady. May wheat ranged a shade
higher, mainly on favorable tips given out
by exporters here and AT the seabOard The
tone of the market seems healthier. Corn
and provisions were without change of con-
sequence.
CHICAGO CHATTER.
1.-THE foreigners must have a great deal of
our wheat before they harvest their own
crops" was the emphatic remark of one Of
the advocates of higher prices. "They must
buy wheat clear up TO the 1st of September
and they must take it out of the present sup
plies, too. Our visible will run down mil
lion this week and that will help to stir them
up. You see they have referred to the large
stocks we have with confidence claiming that
they could get what they want at their own
figures. They will get left in that position
sure"
Milmine: The advance this morning was
mainly on account OF foreign advices, but
they are not pronounced enough for US to
change front, and the probability is that our
wheat is still a sale on any strong advance,
and that foreign buyers will be willing 10
close out their purchases almost any day,and
let some one else carry it until it breaks
again.
There was more inquiry for cash wheat
from exporters than has been witnessed for
many months, and 100000 bushels of No
spring wheat was exchanged for May by local
carriers to-day.
Chandler-Brown: Aside from the labor
troubles the outlook is favorable to an ad-
vance, and the market carries healthier
tone than on the previous days of the week.
A New York dispatch to Counselman e. Day
says that $4,000 bushels of wheat cleared
from that port to-day, making 200, 00C bushels
for the week.
1t was reported on the floor to-day that
'Hutch' sold 100000 bushels Of May wheat
on the open board to-day.
Puts on May wheat sold at sic and calls at
SIC.