St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-12-31
MAY WHEAT STRONG,
But Buyers Of the Day Before
Turn Sellers on the Ad-
vance.
July Was Maintained at
About Four Cents Under
May.
Persistent Bear Hammering
Close the Wall Street
Market Under.
Financial Matters in Excel
lent Shape in View Of Ap-
proach Of January.

CHICAGO. Dec 30-There was a decrease
of 1000, 600 bu of wheat on ocean passage,
and as this came TO hand previous to the
opening of the market here it created a very
strong. feeling and an advance when trading
started to a7ssc for May. compared with go
8. 1sc at the close of the session yesterday.
There was fair amount of activity, and
there appeared to be an excellent demand
for some time, but it was noticed that the
buyers of wheat yesterday were the principal
sellers on this advance. The cable advices
were encouraging to holders, and exporters
were said to be free purchasers of the latter
futures in New York There was some
inquiry for cash wheat here for ship
ment, silver was higher and the
clearances from the Atlantic seaboard
were fairly liberal. There was very little
change in prices during the first half hour,
96sSc and 97a4c having been the extremes.
The shorts were very anxious in view of the
surrounding circumstances and before they
succeeded in buying enough to allay their
fears, the price of May wheat had advanced
to 9Sls@9SAc. July was maintained at
about &c discount and December Sc discount
under May. Bloom was an open seller and
driver; Mitchell, Lindblom and many other
who were buyers yesterday sold as soon as
the market opened Hutchinson was a buy
er; Brosseau, Beauvias, Hibbard, Logan
Lamson, Lynn and Poole Sherman were
among the most prominent buyers in the
early part of the session. Partridge was sup
posed to be taking advantage of soft
spots TO buy on and the usual crowd of
chronic bears were rather inclined TO go slow
on the selling side. although they were evil
IDENTITY waiting for something more encourag-
ing than was mace public to-day before
doing violence TO their natural disposition by
buying anything There was report that
od IN
double the import duties on wheat and flour
on the commencement of the new year,
which was used as an argument for lower
prices but the view of the bulls regarding
port to be well founded, IL would only &C
CELEBRATE the movement of French buyers and
take more of the floating wheat TO that
country than would otherwise be
rather unusual occurrence at
this time of the year that the shipments from
Chicago of wheat, corn ana oats to-day ex
ceeded the receipts. The price was kept
the session, and closed with sellers at that
price. Corn opened UP with jump OF I2c
over the closing price of the day before. and
at the end of the session it had gained lac
May started irregularly at 517SGI52c, with
some sales Immediately at 521sc. There was
reaction TO 517Sc, with perhaps sale or
two at STAG. The advance in wheat was in
the small proportion of No. corn in
the daily receipts andin store is used with
effect upon the shorts every time heavy
holder desires to run them in May advanced
to 521Sc, and closed at 524@52sSc. The
bulls captured the oats market early in the
day. ana worked prices upward several
notches Hutchinson's buying Che took
600, 900 bushels) was the principal reason
for the advance. although light receipts and
the small quantity of the contract grade in
store were important factors in the bulls
favor. The shorts, who were not particularly
numerous, took fright and proceeded to cover
The market opened at 441Bc for May, and adj
vanced slowly to 44Ssc, when the price shot
up like rocket to 447sc 1t afterward
advanced to A 5Ac, when there was reaction
of &c. The closing price-447Sc-was lie
higher than yesterdays close. Hog products
were easy near the start, pork showing the
most disposition toward selling lower, but
after the call, sentiment changed com letely,
and the early dropping tendency was changed
to one more nearly approaching buoyancy.
May pork opened at from Sill 712 to Sl1.10,
and it declined to S11.05, with probably a
sale at 2l2c under that. Business was dull
until after the call, but woke up. and prices
advanced easily on moderate buying on &C.
count principally of the small amount Of
fered for sale at the same time. 1t advanced
to S11.27l2, and was at the outside figure as
the trading ceased.
The leading futures ranged as follows: