St. Paul daily globe., 1891-12-06
SLIGHT RISE IN WHEAT
The Leading Cereal Makes It's
Usual Recovery After a
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 q quiet bus
ness in wheat most of the day, but rather
firm tone prevailed. prices averaging above
Yesterdays close. Botn sides were able TO
draw some consolation from the news in cir
culation. and this TACT 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 Il 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 unmstakably bearish.
Bradstreet reported an increase i'll the avail
able stocks in the United States and Canada
during November of 100000 bushels. and
1L009,G0) bushels more than one year ago.
The worlds available supply showed an in
crease of ., ,C0),OG0 bushels during November,
also.
The bears made the most of these ignres,
and they undoubtedly kept the market from
advancing, as the local sentiment seemed in
cllned TO bulIiShness S and, while cables re-
pOred dullness and weakness abroad do
mestic markets showed considerable
strength. Pardridge covered a good deal of
wheat around 91c. 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 cautions.
Iay wheat opened at $3.50, improved
slowly TO Y1l2c, eaSed off a fraction, but dur
ing The last hour, in the face of easier late
advancing n
closing firm al 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 q good deal Of December
corn on yesterdays bulge, delivered good
deal of ii, and this made the market
weak today, as the parties who re-
ceived it did not want it and put
II Oh the market. The CLIQUE is show
ing 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-
stale the buying of the current receipts for
some weeks al high prices. They prefer to
Keep prices about on 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 viii be light
only Is cars out of AZ ears inall. This should
have proved bull factor but did not Decem-
Der opened at 467sc, sold off TO 4654c reacted
with wheat 10 41Ssc, weakened to 474c ad-
yanced to 47I2c, and closed at 472sc. May
was steady, within a range of &c. Oats were
quiet and steady, closing unchanged TO a
shade higher
Hog products opened higher on she smaller
receipts of live hOgs-only 1900 head-and
an advance of 10c at the yards. But the ad-
vance developed free selling and 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: