St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-03-01
CABLES CONE EASIER,
Weakness Succeeds Strength
in the Chicago Wheat
Market.
Country Millers Advance Their
Prices Four Cents a
Bushel.
Prices Generally Easy and
Business Loses It's Usual
Snap
Stagnation Rules Generally
in the Entire Wall Street
List.

CHICAGO. Feb. 2S.-The cables came easier
for wheat from English sources, continental
dispatches were bullish in tone and the
weather was cold. Under these Influences
there was general desire to buy wheat when
the market opened. and quite number of
transactions were effected at 9134c for May at
the first brush. The desire to buy was i'm
mediately succeeded by efforts to unload and
weakness took the place of strength. There
was nothing i'll the news of a sustaining ma
ture. Receipts at primary points were rather
heavy. Clearances from the four principal
Atlantic ports were light yesterday but the
entire exports for the week from Atlantic
ports amounted to close upon 100000
bushels, counting flour at It's equivalent
bulk i'll wheat according 10 Bradslreet's.
From the Pacific coast the exports were over
600, 900 bu in wheat and flour. but from both
coasts combined the quantity exported was
100000 bu less than on the week preceding
New York reported some inquiry from ship
pers, but no business. Atchison, Kas., re-
ported a sale made there to-day of twenty
carloads of flour for direct export thence.
A dispatch from Minneapolis reported an
active demand there for cash wheat but said
that receipts at country points were increas-
ing. Another telegram from st. Paul said
that country millers advanced their buying
tanned their uniformity regarding crop dam
age in France. and Buda Pesth cabled that The
weather there had been unfavorable for the
wheat plant and similar conditions had pre-
vailed in Russia, according TO q cable dis
patch from Odessa. Prices gradually sagged,
and business lost all its snap. May wheat
halted in its decline at 9ol2@965Sc. There
was reaction which advanced il to 967S, and
during an hour or so thereafter trading and
prices came almost TO a standstill. The clos
ing cables 10 the board quoted a slight de-
cline i'll prices at London, Paris and Berlin;
and, although there was Il slight increase of
activity in the last few minutes trading, the
price was not materially changed. The corn
market opened firm in sympathy with wheat
The timidity of shorts in corn had consider
ably abated, however, and local receivers
were talking of a freer movement from first
hands. On the other hand. the scarcity OF
No. 2 corn continues, only three of the 194
cars received yesterday having come up to
necessary requirements of quality or condi-
ton The business done was not heavy and
it was largely of a local scalping character
The opening price was The highest of the day
and after a decline in the price of May to
55Ac it could not again be lifted more
other markets, declining 12c. The open
ing prices were steady, but weak feeling
was apparent and it was only short time
before the decline began. The provision
market was trife firmer at the opening but
speculative business was duh, and the in
fluence of lower grain markets had depress-
ing effect Hog receipts were slightly below
the estimates made yesterday, but comparing
032, 900 head received this month with 564. COO,
the highest February receipts of any previous
year. brought again into prominence the
plethoIic abundance of hog flesh. The Fowl
ers and scalpers bought som G pork early and
few outside buying orders were app arently
in the hands of several commission houses.
On the call Ryan was moderate buyer of
July ribs, which the packers were sellers of.
Cash quotations were as follows: Flour
S46JMI90; bakers, S3.3G@3.75. Wheat-No.
spring, 937s@94I2c; No. } spring, S7l2QgCc;