St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-05-04
WHEAT SELlSAT A DOLLAR

CHICAGO, May 3.-There was all i'm
mense trade to-day in wheat. and the
market was an unusually wild one,
prices varying SO rapidly that jumps of
%@1c We're made in May and June and
1a@4cin July. without trade. Ex-
element was at fever heat, and so anX-
ions were buyers4at times that offers Of
%@lc above what previous sales were
made at were readily accepted. Buyers
fairly jumped for the wheat. AT times
the market was ;. bare of offerings for
May and June. and the sharp advance
in prices in these deliveries carried up
the more deferred futures; but the adj
vance was not so great as in the nearer
futures. May opened nc higher
and sold up &c more, reaching
81, then eased off and closed at
&c higher than yesterday. Up
to noon prices ranged from 94c
to Csc, and then jumped to 99c, to 81,
very quickly. June advanced 64c. and
closed about 419c higher than yester-
day. July was very erratic, and opened
from re to 1c higher than yesterdays
closing, advanced very irregularly SO
SIC more. ahd 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 prof
its in their favor, were disposed to real
ize. 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
lnent trader was reported as having
bought freely, and there were
some parties who thought it
was "short" wheat. There was nothing
new in the situation. the excite
ment and nervousness being attributed
to 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 were received from the
Northwest. To offset these advices.
however, a 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 iargerin 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
tied, prices huctuating within $s@}9c
range. Trade was mainly in July,
though there was more doing in August
and September than on yesterday.
Business was in the main local, there
being less dong on outside account
than noted yesterday. There were
frantic sellers of July at 35 around the
opening, and the market hung around
34$l (035c some time, afterwards declined
to 3415. up to 3514c, to 343l03I7sc. and
final quotations on all futures were a
quarter of a cent higher than yester-
day. Stronger cables and the advance
in wheat were the leading factors.
Oats we're active, but unsettled.
prices fluctuating freely whiting
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 slight decline from yes
terday's close. Offerings were light
and demand good from local and out
siders. and prices advanced 15@Tc.
May sold to 261sc, and round lot of
100000 bu brought 2611s@261fc at private
sale. The advance induced free selling
by ''longs," and as good many of the
early buyers had been filled up, prices
receded 3s@3lc, 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 a 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
71Sc lower, and the market closed tame
at medium figures. Trading in short
ribs was moderate, with the interest
centering in July. Prices declined SO
nc, and the market closed quiet.
The leading futures ranged as follows:
Anr,c,rs Open High Low Clos