St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-01-19
THE COMMERCIAL RECORD.
Heavy Buying by the Small Fry Causes
a Cent Bulge il
Wheat.
Germ Advances Fraction, Oats Remain
Steady and a Break Develops
in Provisions.
Financial Transactions in the Monetary
Centers---Fhe General Quota
tioas.
Special to the Globe.

Special to the Globe.
CHICAGO, Jan. 1s.-There was pretty good
bull feeling in wheat to-day. The action OF
the market in advancing about L cent ana
holding firm for several hours was very salts
factory to Falrbank, Baker and other pro-
nounced bulls although they did little to
help prices along. The buying was by the
crowd 1t is pretty clear that the most OF the
trade is now long, having not only covered.
but bought for still further reaction since
the price was at 81 for May. May opened
this morning at Sl.Ol touched its lowest
point at 81 Oe5s and al hour later sold i l4c
higher to 81 OILS From this point the great
est reaction was TO S1':l4 at two different
times before / p. m. There was heavy SELL
ing by Hoole, Sherman d Co.. but the general
buying kept the market strong. Jones, Ken
nett & Bloom bought freely TO cover. Ad-
vices from the seaboard are less bealish. A
rumor was wired from there that huge syn
dictate had been formed here to advance
prices Another influence that trade is
watching now is the country buying. With
very little and very poor wheat received at
primary markets. and with a fair amount
going from store in the East for milling
purposes, there is a possibility that the eoun-
try may see fit to buy wheat around 81
whether exporters want 1t or not. Those
who talk loudest on the bear side predict a
shaking out of the longs i'll this market by
another concentrated raid like the one which
put May under 81. Receipts here were SO
ears Primary receipts about 10000 bu
Export clearanees of wheat and -four very
light. Wheat was pretty firmly held to The
end of the session. The close for May was
Sac over last night. The advocates Of higher
md for ia
market opened firm on top of the bulge OF
yesterday. here was good genarl buying,
and for time corn claimed as much atten-
ion as VIII at Some of the shorts bon rht
freely. and prices were advanced Zee from
the prices of the morning. The light receipts
and poor grading are beginning to tell in the
minds of the trade, and railroad officials and
receivers say the farmers are not likely to
market much more corn right away. Out of
about 500 cars received here this week only
10 cars were No. =. Shipments here were
65, 900 bushels and export clearances, 1877
90 bushels The market is largely over
sold, and it is thought the trade cannot re-
cover without a bulge in prices. Receipts
were l59 cars. Oats were quiet aud without
material change. Receipts, los cars. There
was very decided break in the prices of
provisions to-day. Advices from the yards
Were DedTiSu alIer llle HTSJ uOuF luc ScllillS
was led by the packers all day and the mar
ket was without a support. There was no
heavy raiding, but too many sellers with no
takers The English houses were arrayed on
the bear side also. The action of the day re-
suited in loss of about 15c in lard and ribs
and soc in mess pork. Closing prices for
May were the bottom prices. Cash transac-
ti0ns were very light.
THE ROUTINE REPORT.
CHICAGO. Jan. lS.-Feel ng seemed TO be
considerably mixed in wheat in this market
to-day. Trading was free and lars ely local
and credited 10 the large floor traders. Some
parties who were credited with having
bought very freely few days ago sold
freely. one dealer being credited with selling
1000, 900 bushels or more; while others were
buying, one operator being reported as TAX
ing 100000 to 1.u00, 90 bushels for cover
ing of shorts" another with buying 800,
900 bushels OH long account. The i'm
preston prevailed that good deal of doug
wheat had been sGld and short lines COW
cred. fluctuations OF prices were confined
within moderate range, considering the
active trading, and the feeling was strong
most of the session. The opening was about
the same as the closing yesterday,
eased off l5c, and after that rallied with
numerous slight fluctuations, Ac; eased off
5sc and closed 7sc higher than yesterG ay. A
sale of 10000 bu old No. 2 spring was made
here yesterday to local miller at 81, or lie
under the May price. showing that choice
milling wheat is not plenty, and that to OBJ
tain desirable lots some premiums must be
paid above regular lots. A very fair trade
was witnessed in corn early. and the feeling
developed was quite strong, after which
prices receded and the market became less
active. The market opened at about yester-
days closing prices, was unsettled for Il
time. then advanced Ice, reacted M@DSSc, be-
came steady and closed lsWAc higher than
principal futures traded in advanced ls@l4c.
The near deliveries remained dull,
and although at one time higher
. prices were bid, they failed to bring
out sellers, aud not sufficient
trading occurred to establish prices. Quite
an active speculative business was reported
i'll mess pork, but prices ruled irregular
Early sales were made at about yesterdays
closing figures. but the market soon weak
ened, and prices gradually declined 3J@
37l2c. Later the market ruled steadier, and
prices rallied l2I2@l5c, but declined again
and closed easy. Trading was quite active
in lard and prices ruled irregular Early
sales were made at yesterdays closing
figures, but the assure to sell exceeded the
demand, and reduction of 15@l7l2c was
submitted TO. Later the market was sleadier,
and prices rallied -l2Gloc and closed quiet
There was good trading in short ribs, and
the market was weak during the greater Dor
ton of the day. Prices ruled weak al de
clined l5@lIlse, but rallied 2I2@1c and
closed steady.
THE GENERAL QUOTATIONS.
The leading futures ranged as follows:
Wheat-No. January closed at g7Ac:
February opened at &c closing at 9Is4c;
May S1.0l, closing at Sl.ol75; July,
9214e. closing at 92f8e. Corn-No. 2 Janu-
airy closed at 343sc; March, 35Ac closing
at 35I2c; May, 81 Sc, clos 1g at SIC. Oats
No. 2 January closed at 245se: May, 2712c
closing at 27$4c. Mess Pork. per bbl-
January closed at Sl2.55; March opened at
$12.92l2, closing at S12.65 May. Sl3 20,
closing at Sl2.S7l2. Lard. per 100 lbs
January opened at $7.07l2, closing at
$6S7I2: March, $40, closing at $6.92l2;
MAY, S7.22l2. closing at S1.u5 Short
Ribs, per 100 lbs-January opened at
$3.50, closing at $3.50; March Sc 70,
closing at S6.5712; May. So 5 clos
ing at 20. Cash quotations were a. follows:
Flour steady and unchanged. Wheat-No. =
spring, 9634@9-l4c No. 3 spring, S5@196c;
No 2 red. 963401974c. Corn-No. 2, 3414@l
34Ssc. Oats-No. 2. 24I2c. Rye-No. 2. 4Sc.
Barley-No. 2. nominal. Flax Seed-No. l,
$l.62. Timothy Seed-Piime, SI.j Mess
pork. per Dbl. .$l2.55@12. 90. Lard, per loo
lbs, $500 Short ribs. sides Qoose), S6.52l2.
Dry sailed shoulders {boxed). S6.2506. 371s.
Short clear sizes. (boxed), $7@7. l2l2.
Whisky, distiilers' finished goods. per gal,
Sl.03. Reeeipts-Flour 10000 bbls: wheat,
10000 blu: corp, l 1000 bu; oats, I02. 900
bu; rye, 5000 bu; barley, 5 ,0Go bu. Ship
ments-Flour. IL LOCO bbls; wheat, 1900
bu; corn. -, 600 bl: oats, $4,000 bu; rye
none barley, 23, 90 bu. On the produce ex-
change to-day the butter market was dull
and weak: fancy creamery, 24Me5c; choice
to fine, 1S020c; choice to fine dairies, l4(G
1Sc; good to choice, l1@12c. Eggs quiet at
15@ l5i2c.