St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-05-10
CROP NEWS HELPS BULLS.
Deferred Futures in Wheat Touch the
Highest Point Of the
Year.
Fear Of a Squeeze on Account Of Heaget
Stocks and Light Re-
ceipts.
financial Operations OF The Money
Kings---The General Quota
tons.

CHICAGO, May 9.-There was an excited
bull market today, starting at an advance OF
gg4c upon Thursdays closing figures. After
advancing to 96lsc for July, and holding
around 96c the greater part of the day, there
was SO much realizing later that the market
broke TO 9il4e at the close, which, however,
is about 1c higher than yesterday. The e2-
trepely bad showing Of the Illinois asrl-
cultural report yesterday was responsible for
the advance which took place on the curb
Yesterday afternoon from 93$sc ut the close
of the regular session to 95Ac. The repetl-
lion of The same dispatch by the morning
papers caused renewal of the agitation,
and before the board opened wheat hau
sold on the curb at 96c. The regular
opening in the wheat pit was from 9oi2c 10
96c, with numerous sales ut both prices SIM
ultaneously May at the opening was almost
nnobtainable. with some nervous buyers Of
fering CSC for 1t. with sales at same time at
95@c When traders found time to turn
their attention for moment from july
however, there were good many sales mace
Gt 9G340971sc July in the meantime
mounted to 9614c, and sold off again to 99l2e.
then up once more. reaching 96lsc on TINS
turn. There were frequent fluctuations 1ol-
lowing those mentioned between 90s4c ana
9614c, with an apparent affection for voc as
a steady resting point. There was heavy re-
alizing at the opening by the local bull crowd
who looked for n coed break after an over
nights advance of Sc per bu. The break,
however, which would offer inducements
20 come i'll on did not show up sufficiently
and the early sellers who think July wheat
good for 81 were rather unhappy at finding
themselves ont of stock. Hutchinson was a
free buyer through numerous brokers. DIS
takings being variously estimated at from
2OO,O00,000 to 800. 100000 bu. Toenumer-
ate the prominent buyers and sellers to-day
would be to repeat the names OF nearly
every big commission house in the trade
And many of them who figured as sellers ut
the start were afterwards picking up some
Oh the softest of the not particularly soft
opportunities afforded by today's market.
The opportunity which the bulls had been
looking for to buy back some OF
The wheat sold near the opening at
sufficient decline to make 1t an in
ducement, apparently was not forthcom-
ing, even with the slump OF FAC from
The top price of The day, which occurred at
The close Spectators like ordinary men
and women, sigh for the unatteinaoie ana
see no good in what can be had by reaching
DQl Tie uuLt. lG CJOSIuS PIISSo IVA -""J
was soc, and for July 9414c. Those prices
Lhowed no change for this months delivery,
but is CSC higher for July since yesterday. On
the curb July wheat sold from 94lac to 95l2c,
back 10 95c and finally up again to 95 l4c.
Corn started out with great promise for the
bulls but the performance in the end was
disappointing. Raymond and Murray Mel
son were free sellers for July early, with
Hutchinson buying o good deal when
The price was around 35lsc. At the close
July was 3434c. or Ice lower than Yesterday.
Oats was an excited market and there is
every appearance of Hess, with the friendly
assistance of r. P. Hutchinson having the
May shorts i'll position which they do not
End very comfortable. There were sales for
May up 10 SOC, at which figure Hess opened
The bag and fed some out AT the close the
price for May vas .7l2c. or &c higher than
yesterday. July closes Sac under Thursday s
resting price. Provisions were uninteIesting
and dull. Pork declined e@1oc per Dbl, and
lard and ribs were at the close 2la05c below
yesterdays resting prices.
The leading futures ranged al follows: