St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-03-15
WHEAT DROPS A PEG.
Foreign and Domestic News
on Change of a Mixed
Character.
English Markets Easier and
French Crops Reported
Promising.
Corn Drops to Buyers in Sur
prisingly Unexpected
Quantities.
Considerable Animation Dis
played in Wall Street
Dealings.

CHICAGO March 1.-THE tendency in
wheat was downward to-day. The news was
of a mixed character. Bradstreets estimated
the supply in farmers hands aud in the ele-
vators OF the country amount together TO
155,000.0O0 bushels, and argued therefrom
that bread would be scarce ere another har-
vest. On the other hand, the weather was
clear. though cold, giving ground for the
opinion that the coming crop will be plentl-
full. st. Louis wired early in the day that
10000 bushels of wheat were being loaded
there for export, to be followed Monday or
Tuesday by a further shipment of 100000
bushels The Atlantic clearances were iip-
eral Of wheat and flour. New York wired
that there was a good inquiry there from
shippers for wheat, with six boat
loads taken to-day. New Orleans re-
ported having shipped $4,000 bu from that
port TO Liverpool yesterday Against this
was local sentiment in favor of lower prices
and an indication III the cables that the buy
ing movement abroad had reached its climax.
The English markets were easier. France
reported favorable weather for the crops.
Berlin was down the equivalent of 1l2c per
bu on wheat, and Paris quoted a trifiing de-
cline in the price of wheat and flour. The
Antwerp market was quoted % pfennlngs
higher. but one commission man at least sold
wheat short here to-day for an Antwerp Gus
toner. There was a report, also. at one
time that the negotiations with the syndicate
of Paris financiers to aid the banking
house recently reported in trouble there
had fallen through. but this was
denied later. May wheat opened with sell
ers at S1.0134 compared with SLOTS bid on
the previous afternoon. and sold off another
lsc at once. The st. Louis export news and
Bradstreets estimates cansed a Temporary
n m hp
game heavy and declined gradually to Sl.01l2,
and very rapidly after getting under the
last figure, until finally the crowd became
anxious sellers for few moments at Sl,00S8.
with some sales at S1.00A@1.00Ss There was
some reaction from the lowest prices due to
The taking OF profits by the shorts,
me oozs closing SsI, price Tor May being
the hands of buyers in unexpected
quantities. Liquidation was continued on
heavier scale. There was nothing TO account
Tor the change. Nothing has been changed
regarding the speculative situation but the
sentiment of the crowd. With a few minor
reactions, the general tendency during the
session was downward. Oats opened weak
and lower. There were few sales of May
around 5ll2c, when the price went off
quickly to sic. The market gained strength.
and the top price of the day was made at
b134c. Free selling, led by Mccormick
caused break to 50lSc. A recovery to 59S4c,
which was The lest price, indicated
market was fairly active, after the
opening until the last hour, when there was
very little doing. The provision trade re-
covered its tone TO a moderate degree after
opening weak in sympathy with corn and in
consequence of continued heavy receipts of
hogs. There was good deal of product for
sale, but there were also plenty of buyers,
and in the end the latter were In the greater
numbers. May pork opened at SlO65, sold
early in the day at $1,000, recovered to S10.S0,
and closed at S10.7712. or at the same price as
on Friday. Lard was also weak early and
firm to strong later. Ribs opened at sc under
Fridays closing prices. but advanced 10c
over the opening quotation i'll the course OF
the day. and closed only 2l2c under the top
prices.
The leading futures ranged as follows.
Open-l High Low Clos
Articles. ing. est. est. ing.