St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-01-05
Brisk Trading in Wheat at
the Hour of Sounding
the Bell.
Cash No. 1 Northern in Good
Demand by Millers at
Eighty-Nine.
Lively Demand on Wall Street
For Good Bonds and Act
i've Stocks.
The Close Fairly Active and
Strong at the Highest
Points.

CHICAGO. Jan. 3-The wheat market open
ed at decline of ss@12c under the price it
was selling for as the market closed on Fri
day. The first trades in May were at 961sc,
with few trades at 96c about the same
time. The cables were easier. the public dis
patch quoting Ad decline at Liverpool. The
export clearances of wheat and flour from
both coasts, according to Bradstreets' esti-
mate, amounted last week to 400, COO bu
less than on the week preceding Cash, No.
l Northern, in Minneapolis which a day or
two ago was quoted as selling at SSc, was
bringing soc today and in good demand by
millers at that price, according to dispatch
received by Logan & Co. A Baltimore
firm wired that they were receiving
coed prices for wheat by cable from
Europe. The New Years snow was reported
to have covered the ground well where it had
been badly needed, and clear with a season
able temperature was the general condition
of the weather in the winter wheat belt.
There was encouragement in the various
pieces of news here enumerated for both of
the contending parties and each of these as
simulated such of them as best suited their
digestion. Partridge tried to cover his shorts
on the opening slump, but he had too much
company to suit him and upon all advance to
9tssc, which took place, he made show of
heavy sellers yesterday, also thought 1t pru-
dent 10 take what profit was afforded by the
opening prices and those whose present
policy it is to buy on breaks also came
to the support of-the market The first half
hour was the weakest of the session. and
prices advanced until the call price had been
reached. AT the latter point there was con-
siderable selling, which held the advance in
check for awhile around SIC and 9IAc. but
the buying was stimulated by the reported
good demand for export at the seaboard
The visible supply estimates ranged yariouSly
from 5000 bu decrease to an increase of
about that quantity. California advices were
to the effect that dry weather was spelling
the prospects for the growing crop. Every
. thing had bullish tone in the last half hour,
under which the entire decline OF yesterday
and this morning was handsomely recoy-
cred, with the closing quotation for
May wheat at 977sc and trading going on
briskly at CSC before the echo of the closing
bell had ceased to sound in the hall. The
business in the corn pit was quiet and tame
during the first half hour Of the session and
fairly active in the latter half, after the
strong tone of the market had given the
shorts a bad turn. The opening price for
May was at decline of Ac from its value at
the close of Fridays session. Trading be-
tween SIC and 52SSc was the feature OF the
first hour, with sale or two at 5l78c near
the start. There was an advance to 531sc,
reaction to 17Bc, and q squirt in the end up
to 533Sc. which was the closing quotation
The bulls had the best OF the oats market
despite the fact that Hutchinson continued
to sell. His output was much lighter
however. Fowler, Horton Worthington and
the country were good buyers. The May
future started 4476c, declined to 445Sc, adj
vanced to 455Sc, fell back to 1880, touched
the top price of the day at 45S4c and closed
7sc higher at 455s@45s4c. There was an eff
fort made to keep provisions from advancing.
but the stocks of pork were not 50 heavy as
had been looked for as hogs were reported in
dam a OF n6rynT1 r6n1,x
openly sold pork, but the crowd took his Of
ferings and advanced the price. January
pork advanced from $1,000 at the opening to
Ill IS, and lard, while advancing 7I2c to
loo Tor January, gained only 2l2@5c for
May. Ribs also showed January reducing
the difference between it and the later de-
livery, the former closing at So. 1912 and the
latter at SOL 2l2 against So, O212 and $3.62I2
respectively yesterday.
The leading futures ranged as follows: