St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-05-01
WHEAT FUTURES BOOMING,
Bulls Proceed to Knock the Ball
Toward Their Own
Goal.
DID Hutch Dumps His Holdings, But
Prices Advance One
Point.
Financial Operations Of The Money
Kinqs--.The General Quota
lions.

CHICAGO, April 30.-The wheat market was
urn and active at the start at 86l2c for July,
and there was quite a number of sales at
that figure in a very short space Of time. The
bulls quickly discovered that the ball lay at
their feetand proceeded to kick 1t vigorously
toward their own goal The prices Jumped
in Ys-cent bounds until S7A097ssc was
reached, at which point it rested for time.
The figures reached was clean advance Of
about &c over the curb price and 7sc higher
than the price at the close Of change yester-
day. There was reaction to &c, at which
point the bulls took q fresh grip
and gave 1t brisk hoist to S7l3c.
AL this occurred in the first two hours
trading and the cause of the change in
speculative sentiment since the previous
evening was the publication Of the estimated
present condition OF the winter wheat by
the Farmers Review. To summarize the
figures of the report, it may be briefly stated
80 represent an average condition OF II as
compared with 81 estimated by the govern
ment as its condition on the first day of the
present month. Bradstreet's report of a de-
crease in the visible supply east of the Rock
les during last week amounting to l, 400,-
600 bushels was another bull point i'll the
Stems of to-day's news. The Liverpool mar
weather now prevailing IN England. The
London market was reported firm. At Mark
Lane there was a good inquiry for both
English and foreign samples, and there
was a continuance noted of the demand
from the continent for cargoes. There were
conflicting accounts of the weather condi-
tons of the northwest; Dunham's CORE
spondents sending some rather dark colored
reports while the Minneapolis agent of
Jones Kennett, who was on the floor here,
said that his advices were of different
character and claimed an abundance OF
moisture so far, except perhaps in a few
isolated localities The weather map to-day
showed dry weather prevailing nearly every
Wnere. The receipts here to-day were only
about one-half of Yesterdays estimates.
They amounted TO % cars, Of which one
only inspected into the contract grade.
There was a good, broad generous market,
and the trading was both active and heavy.
IT ran completely away from Hutchinson's
control, who, In his endeavors to stop the adj
vance must have gotten rid of over 2,0O0,
QUO bu. Jones Kennett, Boyden Co.,
Durham, Logan and George Smith were all
good bu yers the latter said to be covering
Ghort wheat ScwartZ-Dupee also took
hand in the buying. The most conspicuous
seller was Hutchinson, and a close observer
in the pit remarked that it would have
certainly gone much higher but for his re-
Btraining hand The best strength of the
day was Just at the close, July closing at
e75sc On the curb the market weakened
and at p. m. July sold at s7ssc. Corn
Bympathized largely with the advance in
wheat. and prices at the close showed some
improvements on the closing figures of the
previous day There was much more force
20 the business in hog products to-day The
fear Of labor troubles at the yards seem TO
have subsidized a little and the trade took hold
in better shape. The tendency of the market
for all products was upward.
Cash quotations were as follows: Flour
firm and unchanged. Wheat-No. spring.
ssM@e9c; No. spring, 75@78c; No. 2
red, 8s&6s9c. Corn-No. 2, 32Ac., Oats
No 2, 24lsc. Rye-No. 2, 49c. Barley.-No.
Rnominal. Flaxseed-No. 1, Sl.49. Prime
timothy seed, S,3o Mess pork per bbl SIG s,E3s
Short ribs sides Qoose), So 2505.35 dry
Ialted shoulders (boxed), $685.. 25; short