St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-01-29
JOY AMONG The BULLS
Because Partridge Deserted
the Bears and Became
8 Bovinee
The Storm in the Northwest
Has Something to Do
With Prices
Corn Shorts Become Nervous
and Buy With Some
Freedom.
Pork Shorts Cover Their
Sales and Move the Mar
ket Upward.

CuICAGo, Jan. 2S.-Foreign cable
grams onoted Liverpool only steady at
I'D decline in the price of futures, out
there was a change, Notwithstanding,
in the temper of the local crowd, as
evidenced by the starting price for
May being at an improvement OF sc
over Yesterdays closing quotations.
There were free sellers for second at
055Ic. but there were buyers also at
that price, and as the latter proved to
be the most persistent and numerous
theprice advanced in about two MIN
utes to 96Ac. Pardridge's conversion
to the bull side was also source OF Joy
to the bulls and took the form OF
brisk demand for May wheat at around
g6(d964c. After holding short time
at about those figures the price
gradually worked upward until $3.50
was finally paid about an hour after the
opening. Various items OF news when
had in the meantime come to llght re-
ceiVed for the most part a bulllSh inter-
probation. and made the rallies which
succeeded each downturn OF the t1uctu-
atiOns during the forenoon easy OF ac-
yailing in California was an early factor
in the market. The export clearanceS.
of wheat from New York were liberal,
amounting to 1884, 900 bushels, and the
flour shipments were fair. The foreign
bids on flour were reported to have been
adv anced Sd. March wheat in New
York was quoted as selling at 219c
over May. A heavy blizzard, with
snow accompanlmentS, reported from
the West, had changed TO rain. Brad
streets estimate of the changes in the
visible supply east of the Rockies since
the previous report gave 100000 bush
els decrease. The movement of wheat
into and out of the principal markets OF
the country duTin the first three days OF
the present week gives indications OF a
decrease in the official visible supply
this week of between 100000 and l,0Oo,-
600 bushels if the same ratio of receipts
and shipments is maintained for the re-
mainder of the week. Partridge was
heavy buyer of wheat on the soft spots,
and seller around a96ss4 (@961sc, but APP
parentlv bought more than he sold.
The prices were fairly we'll maintained
around the upper register of the range,
fiuctuating for the most part between
g612 and 965s@96Ac.
The corn market was affected by the
small proportion of the contract quail
ity in the present daily receipts, and
the probability that. owing to the damp
weather reported from throughout the
corn country, continuance OF that
state OF affairs was extremely probable.
The shorts became nervous and bought
with considerable freedom. and the
bullish direction to to-daY's course of
prices was impaired Immediately at the
start. There was one sale reported at
the opening at 5l55c> for May, and 1t
was the only one at that figure o-day.
The general trading price was 52c at
the time referred to, with speedy up
turn to 524c. The top price of to-day
was 52130525sc.
There was less than &c grange in the
price of May oats. The trading was
light and all on local account.
The estimates of the hog receipts, as
.eported from the stockyards this morn
.ng-5l, OOO-inclined the crowd to ex-
pect decline in the speculative arti-
cles of provisions, but the shorts were
IN wait for such an opportunity to cover
their sales, and their action was the
principal feature in to-day's market.
The lowest prices were those made at
the opening, and the best toward the
end of the session.
The leading futures ranged as follows: