St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-03-29
Wheat FINDS BUYERS
The May Cereal Has Plenty OF
Friends on Chicago
Change.
The Main Influence After the
First Break the For
eign News.
No General Movement In
Corn, Although Prices
Are Firm.
On Wall Street st. Paul and
Burlington Sell Down
On Trading.

CHICAGO. March 2S.-The markets were
Strong to-day May wheat found hosts
of BUYERS at 81 02I2 at the start and it ran up
inside of a minute 10 Sl.02S4. About fifteen
minutes later. under the influence of very
free selling out of the early purchases and
the putting out of short wheat by the local
crowd. the price was down to S1.O2A. a
great deal appeared 10 be wanted at the lat
Ter price, but very little changed hands until
il was back again 10 Sl.02l2GL02SS. The firm
ness al the opening had several sources. the
principal of which was the continued firm
tone of the market for cargoes in England
and cablegrams reporting the Berlin
bourse agitated on account of the
movement of Russian troops contigu-
Gus 10 the Austro-Germany frontier.
There was talk of a late seeding season like
wise Bradstreets weekly summary of the
exports from Coasts showed the movements
10 have been the equivalent of 9l2.0 900 bu less
in -four and wheat than on the week preced-
ing. There were several cable dispatches
giving further confirmation of the grievous
extent of the disaster to the French crop. and
houses with foreign connections were good
buyers The main influence after the first
break was the foreign news. May advanced
10 81 .0334. Export clearanceS from the At
lantic seaboard yesterday and Thursday were
liberal of both wheat and flour, and New Or
leans shipped out $4,000 bu of wheat to
Liverpool. A Berlin telegram to the
board quoted an advance in wheat
of Ia to lie marks. or the equiva-
lent of nearly 1c per bu. London was also
frmer, and Paris private cables likewise
quoted stronger market and advancing
prices Strength continued TO be the feature
until the close. May sold up to Sl.04, and
closed at Sl.03s4 bid. A weaker feeling sue
ceeded. the market being apparently without
the support OF the latest bullish manipu-
lators. The price sagged gradually to 65lsc,
and there was no appearance OF prices re-
covering until the buyers of cash corn be-
rame urgent and bid up the price of No. B
TO point above the May price for No. 2.
From CSC No. cash was bid up to 6712c in a
short time. OF course the speculative market
became at once strong, and excited shorts
soon had the price of May corn above &C.
and its old friends also rallied once more to
its support. After the price had reached
61lsc 1t became steadler, but still retained its
strength and in the end made further ad-
vance, reaching as high as 6758, and stood at
61l2c at the close. There was considerable
realizing in the oats crowd, and also consid-
cradle selling of Nav and buying of July
Norton Worthington. Platt and Deacon
Fits were the heaviest sellers of May, while
b. Fowler solo the July oats he purchased
Thursday The buying was mostly for short
account, and that was scattered. the market
opened l2c above the close of Thursday
and suffered slight decline, hard
ening and closing at high prices
of the day; making gain of
5Sc. The trading in provisions was very
animated. The receipts of hogs were light
and the prices higher. That gave the market
its opening impetus under which prices
scared. Lard and ribs wed with pork in
both activity and strength and ultimately
surpassed it. Pork advanced, compare with
Thursdays closing prices, 70 cents per bar
rel, lard 4Oc and ribs 45c. Ryan was again a
heavy buyer, taking ribs principally. The
Anglo-American Packing company, Swift d
Co., and the commission houses also bought
liberally. Logan d Co. were conspicuously
heavy buyers of lard. Baldwin-Farnum also
took a considerable proportion of the offer
the start and sellers later in the session.