St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-02-10
MAY WHEAT STRONG,
A Small and Narrow Victory
Rests With the Bull
ForeSS.
Cautious Local Spectators
Indisposed to Sell Short
at Present.
The Northwestern Storm Res
ervoir Also Has It's
influence.
Improvement in Wall Street
General and Fairly
Uniform.

CHICAGO, Feb. ct was day of surprises
in the wheat pit. The operators were IKE
well-matched contestants in wrestling bout,
first one and then the other party being up
permOst, and The victory in the end was
narrow one, but such as it was it rested with
the bulls. Wheat for May delivery is 4c
higher than at the close OF the market on
Saturday. fair amount of steadlness was
the first characteristic of the trading, fol-
lowed in a few minutes by decided weak
ness The price for May at the start was
91s8c with plenty of sellers at 9i42c with
lightning transformation to $3.50. and as
quick a change to 91Ac, 97c and down to
965sc before buyers again predominated. The
fluctuations here noted occupied the first
half hour of the session. The predomlnatlng
influence at the opening was the cold wave
hurrying hitherward from the Northwestern
storm reservoir, and this was succeeded
by the easy wheat market at LIVERPOOL,
and the expectation of not over
100000 bu. decrease in the Official
visible supply; but the chief disturbing factor
to holders near the opening was the heavy
receipts at primary markets. Cautious | cal
spectators were indisposed TO sell short
after weeks decline aggregating &c per bu,
and easily persuaded themselves when prices
began to recover from the break noted above
That the least dangerous operation WAS ~
buy flor turn The opening strength of
wheat made first trades in corn close 10 the
latest quotations of Saturday. May opened
al 531Sc with sales at 53l4c, and also at $3.50
There were few sales soon after at SILICA
535sc, and these were quickly followed by
slump of Ac. and after an interval Of trad
ing around 53c weakness became the pred0m-
mating feature of the deal and when, little
later the receipts for tomorrow were estl-
mated Mt AIS cars, The market lost all rallylng
power, and was upheld only by covering pur-
chases by those previously short as
prices gradually shrank. The lowest
price on the decline was 525sc, and
at the close sellers were offering
it at 527Sc, or SSc lower than OH Saturday.
Oats attracted comparatively little attention,
the market being rather dull with moderate
trading in all the active futures. Milman
Bodman and Schwartz-Dupee were the prin-
cipal sellers the buying being scattered. The
provision trade was scarcely prepared for
receipts of $1,000 hogs, which was the num-
Der the early aGvices from The stocRyardS an
nOunced. Later the receipts were even
further increased 1900 There was a rush to
sell at the opening, pork standing 15c under
Saturdays closing figures, and lard and ribs
at & decline of 10c. These prices were too
tempti to be resisted by the shorts, and
consequently there was rally and steadler
feeling after the first few minutes, and i'll the
course of the day recovery, which left the
loss 10 speculative holders-measuring it by
the closing prices of to-day and Saturday,
only @l2c on pork, sc on lard and 7lac on ribs.
The estimates of the receipts of hogs for
tomorrow are 5000 head
The leading futures ranged as follows: