St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-05-05
WHEAT SELLS AT A DOLLAR
fhe HAY Option Reaches the Century
Mark, and Then Eases
Off.
In Immense Trade and the Market an
Unusually Wild
One.
financial Operations of the Money
Kinqs---The General Quota
tons.

CHICAGO, May 3.-lnere Was dn III
nense trade to-day in wheat, ana the
narket was an unusually wild enc,
prices varying so rapidly shat jumps OF
H(01c were made in May and June and
%@4c in July. without trade. tx
litement was at fever heat, and so anX-
Gus were buyers at times that offers OF
%@1c above what previous sales were
made at were readily accepted. Buyers
airly Jumped for the wheat. AT times
he market was bare of offerings for
Nay and June, and the sharp advance
n prices in these deliveries carried up
he more deferred futures; but the adj
rance was not so great as in the nearer
futures. May opened r9c higher
md sold up &c more, reaching
81, then eased off and closed at
PC higher than yesterday. Up
TO noon prices ranged from 94c
TO CSC, and then jumped to 99c, to 81.
very quickly. June advanced 6Ac, and
closed about 411e higher than yester-
day. July was very erratic, and opened
from &c to 1c higher than yesterdays
closing, advanced very irregulary so
BIC more. and closed SC higher than
yesterday. Orders came pouring IN
from all quarters, the majority to buy,
though a good many selling orders were
received from parties, who having prot
It's in their favor, were disposed to real
lie. Parties who had sold yesterday in
expectation of lower market on pros
poets of rain, covered freely to-day.
Trading was general, and individuality
was almost lost in the shuttle. A prom
inent trader was reported as having
bought freely, and there were
some parties who thought 1t
was "short" wheat. There was nothing
new in the situation. the excite
ment and nervousness being attributed
20 the continued dry weather in the
Northwest and bad crop news. Although
cloudy weather was reported in the
Northwest, scarcely any rain has fallen.
with the exception of slight shoWerat
Duluth and St. Paul. Advices from
South Dakota report ground dry as
powder, and high winds blowing seed
out Of the ground. Several dispatches
of this tenor we're received from the
Northwest. To Offset these advices.
however, harvester company claimed
that if rain came within week or ten
days, the crop would be all right. The
acreage in the Northwest, while smaller
In some sections.is larger in others, and
may on the whole be as large as last
year, There was another day
of activity witnessed in corn,
the feeling being nervous and unset
sled, prices fuctuating within 56@98c
range Trade was mainly in July,
though there was more doing in August
IND September than on yesterday.
Business was in the main local, there
Neing less dong on outside account
Ehan noted yesterday. There were
frantic sellers OF July at 35 around the
opening, and the market hung around
$4035c some time, afterwards declined
30 34119, up to 3514c, to 349l@3415c, and
final quotations on all futures were
quarter of cent higher than yeSter-
day. Stronger cables and the advance
in wheat were the leading factors.
Oats were active, but unsettled,
prices fluctuating freely whiting a
range of &c. The continued re-
ports of dry weather in the North
west made operators nervous, and
although no actual damage has resulted
''shOrts'' were anxious to cover, and
bought freely. Opening sales were at
the same, to a slight decline from yes
terday's close Offerings were light
and demand good from local and out
siders. and prices advanced 79@%c.
May sold to 261sc, and round lot of
100000 bu brought 15@261lc at private
sale. The advance induced free selling
by "longs," and as good many of the
early buyers had been filed up. prices
receded 38@2c, but again rallied, and
the market closed steady at a fractional
decline from yesterday. Very little
business was transacted in pork. Early
sales were made at Fridays closing
figures, and few transactions were
made later 10@15c advance. Toward the
close the feeling was easier, and prices
settled back again, closing quiet. A
fair business was done in lard, but the
feeling was unsettled. Prices ruled so
715c lower, and the market closed tame
at medium figures. Trading in short
ribs was moderate, with the interest
centering in July. Prices declined 90
719c, and the market closed quiet.
The leading futures ranged as follows:
lODen High Low lClos