St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-03-09
SOMEWHAT NERVOUS.
May Wheat Sells Off to One
and One-Eighth on Chi
eago Change.
Prices Fluctuating and r.
regular Through Trad
ing Hours.
News OF Heavy Flour Sales at
Minneapolis EXerts An
influence.
Material Losses in Wall Street
Stocks All Along the
Line.

CHICAGO March Price fluctuations in
whdat were nervous and irregular neatly all
day. The first half of the session was par
ticularly exciting. Despite the bearish fig
ures given out By Bradstreet, and the heavy
receipts at Northwest and Southwest points.
the market made some rather high quota
tons. The principal cause of 1t WAS the eX
tremely firm tone of the foreign cables and
advices Of heavy sales of -four at Minneap
oils at an advance of 25@40c over previous
prices The bulls were pinning their faith
more particularly 10 the foreign news. Paris
and Berlin said that speculation had been
attracted by the reports of crop damage
in France, and the quotations bore
out the assertions. Among the real
simon-pure professional spectators here
there was little actual demand for wheat ST.
Louis mada quite show of buying May and
Julv. but was meanwhile very busy putting
out line of short wheat for July. North
western longs vino sent i'll the adyices OF
heavy flour sales. were also selling ont Oh
the bulges. Cudahy took advantage of the
rises to sell moderate quantities in order to
get good average. May wheat started at
Sl0lSS. sold off to Sl.0C5s01.00s4, and then
speedily climbed TO Sl0ll2. The wheat sold
on this advance carried it down to Sl.05S4.
and it held steady around Sl903S for long
time. English farmers deliveries. while
slightly larger than last week, were never.
theIess sold at an advance Of I'd
per quarter over the average price
of the preceding week. Toward
the close of the session the weight of the long
wheat began to be felt and prices weakened
materially. May wheat sold off to S100Is.
Consolidating Beerbohms and Bradsircets
reports of stocks Of wheat i'll second hands
in Europe, afloat for Europe and in the
United States and Canada, on March l, would
make 99, 523, 000 bu or 3.6Sl,C01 bu more than
last year. Kennett-lIopkins London special
said: "Argentine cables say the situation is
bad. The stoppage of the payment Of Buenos
Ayres loans is inevitable. y fresh currency
issue is certain. The run on the Provincial
feeling. The stock market declines on con
tinued liquidation. BeerDohms clos
ing cable said: Paris 1920 cen
times higher; flour. / franc 30
cen:mes higher. English country markets
Cd TO Is per quarter higher" An Odessa cable
TO W. 6. Mccormick Il Co. said: Navigation
OF Black sea IS open again, but wheat re-
ceipts from the interior are very small"
Corn made a little show of strength early.
but finally gave way under heavy realizing
sales by longs and less heavy sales by people
who thought 1t high enough TO sell short.
May corn started at 5984c, sold to zoe, broke
20 595sc on estimates of heavy receipts for
bushels yesterday for Liverpool. Oais fol
lowed corn. ReHiiZing sales by Schwartz, Ed
wards and others carried May from 50l2c
down to 49l4c. Provisions were easier on
realizing sales by outsiders and moderate
short selling by packers. The market was
not very weak as sales were not much more
than sufficient to supply the demand.
The leading futures ranged as follows
Open. High Low Clos
A TX inCr