St. Paul daily globe., 1891-10-03
In the Chicago Pit Wheat
Was Stronger on Reports
Of Injury.
Covering by Shorts Was One
of the Great Aids to the
Advance. d
Corn Was Also Active and
Buoyant and Scored a
Slight Gain. -
Wall Street Has a Turn for
the Better and Prices
Improve.

CHICAGO, Oct. 2-Wheat was very strong
to day, and scored an advance of 2024c.
The tendency of prices was generally strong
from the start. The reasons advanced for
the advance were bad weather in the North
west, which, it is claimed, has affected the
wheat in shock larger clearances from the sea-
board, the covering by shorts and the gener-
ally stronger tone of cable advices. The
market no doubt was d short one, operators
being of late inclined to the selling sde and
the rather firm tone induced many to cover.
Early Liverpool dispatches quoted that mar
ket quiet and shade lower but last cables
quoted a steady market with no decline ex-
cept fo1 California November delivery, which
was l2d lower. London was unchanged. and SO
was Antwerp: while Berlin was 1s402c high
er, and Paris -four was higher and wheat un-
changed.
Private cables said wheat in Paris was
strong. and a Liverpool cable said the French
were bidding for red wheat The official re
port of the French wheat crop has estimated
the yield at 230, ,000. $50, against the final re-
port for 1890 of 32S, 900. 600, and for 1889 of
3l6,000,000 bushels. The estimate of this
years crop is in excess of previous reports.
nut did not have any special effect on the
market. Export clearances were larger and
aggregated 10000, bushels. New Q York
reported fifteen loads taken there for export
to-day. London stock of wheat was reported
to have increased 501,GJ0 bushels, end the
stock of flour is also reported as showing
large increase. Domestic markets were
higher, but receipts in the West were larger
One Liverpool cable said that the French
were reselling there.
New York and 1t. Louis were active buyers
in this market Logan, Kennett. Hopkins,
Schwartz Dupee, Brousseau and other
leaders were buyers. Rsins were reported
in Kansas Nebraska and Missouri, where
moisture was greatly needed for the fall
plowiDg- Ream bought some wheat early
around Csc, but sold freely on the advance TO
99c and above. December opened at 97s4c,
against 977sc at the close yesterday, sold up
10 0oAc, off TO 977sc, up irregularly to 994c.
off to 9Ss4c, up to 99c, off 10 9ss4c, mp to O3c
again, then TO 9S7Sc and, during the last few
minutes. bulged to 991Rc closing strong at
9934c.
Corn was active and buoyant, influences
by the extremely light receipts, the strength
IN wheat and corn pit and the active cover
ing by shorts. The inspection sheets showed
only Il cars of corn inspected, where 130 had
been looked for, and the out inspection was
liberal. amounting to $4,000 bu. Shorts
started at once to covering and, the offerings
being light. strong feenng ruled. October
opened at 53t05314c against SIC at the close
yesterday. sold up TO 53s4c, broke to 53s8c re-
acted some, and when wheat moved upward
and an estimate of only 100 cars for to-mor-
row became known there was quick jump
to 5434c. This was the top, and reaction set
i'll during the last hour which carried the
price down to 53ssc. 1t advanced again,
however, and closed at 5ilsc. Counselman
and Day sold freely, while the shorts. led by
Baldwin, and the shippers, led by Bartlett
Frasier, were among the best buyers.
Oats firm in sympathy with corn, but trad
ing was light
Hog products were higher. owing 10 the
big reduction of the stocks of most articles
during the past month Ribs were reduced
the most and were strongest, with shorts
1Unh laNnf rAn
ever, there was partial reaction, and the
close shows an advance of 17l2@25c ON pork.
10c on lard and ribs
The leading futures ranged as follows: