St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-03-16
WHEAT DROPS A PEG.
Foreign and Domestic News
On Change Of a Mixed
Character.
English Markets Easier and
French Crops Reported
Promising.
Corn Drops to Buyers in Sur
prisingly Unexpected
Quantities.
Considerable Animation Dis
played in Wall Street
Dealings.

CHICAGO. March 1.-THE tendency in
wheat was downward to-day. The news was
Of mixed character Bradstreets estimated
The supply in farmers hands aud in the ele-
yators OF the country amount together 10
l55,000.000 bushels and argued therefrom
that bread would be scarce ere another har-
vest. On the other hand, the weather was
clear, though cold, giving ground for the
opinion that the coming crop will be pient-
fUl. st. Louis wired early i'll the day that
10000 bushels of wheat were being loaded
there for export, TO be followed Monday or
Tuesday by a further shipment of 10000
bushels The Atlantic clearances were iip-
cral of wheat and -four. New York wired
that there was a good inquiry there from
shippers for wheat with six boat
loads taken to-day. New Orleans re-
ported having shipped $4,000 bu from that
port 10 Liverpool Yesterday. Against this
was local sentiment in favor of lower prices
and an indication III the cables that the buy
ing movement abroad had reached its climax.
The English markets were easier. France
reported favorable weather for the crops.
Berlin was down the equivalent of llac Der
bu on wheat and Paris quoted a trifing de-
cline i'll the price of wheat and -four. The
Antwerp market was quoted p pfennings
higher. but one commission man at least sold
y
toner There was a report, also. at one
time that the negotiations with the syndicate
of Paris fnanciers TO aid the banking
house recently reported i'll trouble there
had fallen through. but this was
denied later. May wheat opened with sell
ers al Sl.01S4 compared with S1.017S bid OH
line previous afternoon. and sold off another
lsc al once. The st. Louis export news and
Bradstreets estimates caused a temporary
reaction TO Sl.02ls after which the market be-
came heavy and declined gradually to S10ll2.
and very rapidly after getting under the
last figure, until finally the crowd became
anxious sellers for a few moments at Sl.0ySs.
with some sales at S1OG46lL0c3s There was
some reaction from the lowest prices due 10
The taking OF profits by the shorts,
Si.O07s sellers. Corn came down into
the hands of buyers in unexpected
quantities. Liquidation was continued on a
heavier scale. There was nothing to account
for the change. Nothing has been changed
regarding the speculative situation but the
sentiment of the crowd. With few minor
reactions. the general tendency during the
session was downward. Oats opened weak
around 5ll2c, when the price went off
quickly TO sic. The market gained strength.
and The top price of the day was made at
5lS4c. Free selling. led by Mccormick.
which was The last price, indicated a
decline for the day OF 1l8c. The
market was fairly active, after the
opening until The last hour, when there was
very little doing. The provision trade re-
covered its tone 10 moderate degree after
opening weak in sympathy with corn and in
consequence of continued heavy receipts OF
hogs. There was good deal of product for
sale, but there were also plenty of buyers,
and in the end the latter were III the greater
numbers. May pork opened at SlG.65, sold
early in the day mt $1,000. recovered to SlOS0
and closed at Sl0.1il2, or at the same price as
on Friday. Lard was also weak early and
firm 10 strong later. Ribs opened at &c under
fridays closing prices. but advanced Zoe
the day. and closed only 2l2c under the top
prices.
The leading futures ranged as follows
, OPEN High Low Clos