St. Paul daily globe., 1891-12-07
SLIGHT RISE IN WHEAT
The Leading Cereal Makes It's
Usual Recovery After q
Drop.
Business Was Quiet, but the
Tone Was Firm and News
Favorable.
Corn and Oats Unchanged,
Pork Products a Trifie
Lower.
Active Trading and Gains in
Nearly all Stocks on Wall
Street.

CHICAGO, Dec. 5.-There was quiet bus =
ness i'll wheat most of the day. but rather
firm tone prevailed. prices averaging above
Yesterdays close. Both sides were able TO
draw some consolation from the news in cir
culation, and this fact helped to keep the
market fairly steady. One of the bullish
points was an article in a morning paper re-
viewing the condition of winter wheat. 1t
was said to have been injured by drouth in
November and further damaged by the late
rains, followed by freezing weather.
The movement in the Northwest was mod
crate, and owing TO the severe storms prevail
ing, continuance of small deliveries for the
time being is looked for. The liberal clear
ances fIom both coasts for the week were
also regarded as rather a strong factor, as
they amounted to 5662000 bushels-a large
excess over the amount sent out the week
previous. On the other hand the figures in
regard to stocks were Enthusiastically bearish.
Bradstreet reported an increase in the avail
able stocks in the United States and Canada
during November Of 100000 bushels, and
100000 bushels more than one year ago.
The worlds available supply showed an in-
crease of 25, 900, 900 bushels during November,
also.
The bears made the most Of these figures,
and they undoubtedly kept the market from
clined to bullishne:s 5, and, while cables re-
ported dullness and weakness abroad, do
mestic markets showed considerable
strength. Partridge covered a good deal of
wheat around 97c, and Brosseau was also
good buyer, presumably to cover shorts
Most of the private wire houses and the
crowd generally seemed disposed to buy, and
the selling was rather meager and cautious.
May wheat opened at $3.50, improved
slowly to 97l2c, eased off a fraction, but dur
ing the last hour, i'll the face of easier late
cables, grew strong again, advancing to 977Sc,
closing firm at 975sc, against 97c at the close
yesterday. Shorts covered freely on the in
creasing strength and there was some good
investment buying.
Corn was inclined to weakness The
clique, which sold a good deal of December
corn on yesterdays bulge, delivered good
deal of it, and this made the market
weak today. as the parties who re-
ceived it did not want it and put
1t on the market The clique is show
ing q disposition to milk the trade:
they seem disposed. for the present to sell
on the bulges, deliver the corn, break prices,
and then cover at profit. If, as is claimed,
they contemplate deal, they do not want
the advance to start now, as it would neces-
state the buying of the current receipts TOR
some weeks at high prices. They prefer to
keep prices about on a shipping basis for
some time yet and let the bulge come. if it
comes at all, near the close of the month.
The receipts of contract corn will be light.
only 10 cars out of 444 cars in all. This should
have proved bull factor, but did not. Decem-
Der opened at 467Sc. sold off to 46s4c. reacted
with wheat to 41Ssc, weakened to 47l4c. ad-
vanced to 4I2c, and closed at 47Ssc. May
was steady. within a range of l4c. Oats were
quiet and steady, closing unchanged to a
shade higher
Hog products opened higher on she smaller
receipts OF live hogs-only $4,000 head-and
an advance of 10c at the yards. But the ad-
vance developed free selling ana the gain
was lost. A slight rally followed when corn
advanced. During the last hour the market
was steady, and the close was near inside
figures and at moderate declines compared
with yesterdays last figures.
The leading futures ranged as follows: