St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-10-24
WHEAT FIRM, HIGHER.
Action in the Leading Cereal
Was Of the Rising Order
All Day.
Cables We're Strong, With the
Short Traders Seeking to
Cover.
Active, Nervous Bidding for
Corn Causes a Rise in
Quotations.
New York Stocks Dull and
FeaturelesS With a Few
Exceptions.

CHICAGO, Oct 23.-Wheat was frmer, with
higher prices and fair business. The open
ing was 409sc higher than yesterdays clos
ing; advanced, with some fluctuations, s4O
&c per bu more, then declined s4c, ruled
irregular, and closed about 7sc higher for
December and 1c higher for May than yester
day. The firmness i'll the market induced
''shorts" to cover. the market evidently being
a short one and the news of such char
acter as to brighten shorts into covering.
The prohibition of wheat exports from Rus
STA was again mentioned to-day as likely to
take effect Monday.
Cables were stronger and higher, and there
was good buying from some source, which,
in spite of various efforts to depress prices
by liberal selling. proved unsuccessful. 1t
was reported from the East that foreigners
were buying freely at the seaboard, and this
too, helped to advance prices some, but up to
noon only eleven loads were reported taken,
and this made operators little suspicious
the information received and caused a reac-
ton from early advances. Adyices were re-
eeived that the prospects for the new crop in
Southern Russia had been materially i'm
proved by rain.
Corn was more active. quite nervous and
very strong. advancing sharply, and although
the late advance was not neld, prices were
coming to the conclusion that the short in
terest is much larger than generally thought
a few days ago, and. as the prospect for get
ting great amount of contract for the bal
ance of the year is not very fiattering, there
is a general movement to cover, with but lit
tie for sale. and the active competition ad-
vances prices easily. October sold up to
55ssc; November started at 1850 and held to
507Sc, eased off some and at l o'clock was
50l2c. May sold from 42l2c to 42S4c and year
up to 447sc.
During the last hour corn eased off on free
selling, indications of larger receipts and free
realizing and short sales After selling up to
Sic November sold to SOC. and at l o'clock
was 50Ac; May broke to 42Ac, after having
sold TO 42s4c.
Oats showed much strength and advanced
sharply. November opened at 297sc and
sold up 10 30ssc, eased off some and at II
O'Clock was 3JSsc. May started at 31s4c and
sold at 32I2c and at II O'Clock was 324c. The
Der falling to Bic and May to 317sc. Shorts
covered freely early. and this demand being
ont OF the way, weakness ruled.
Hog products started rather easy. and i'm
proved some in sympathy with frmness in
grain pits, and especially in corn but then
broSe off. The only trading IN January pork
was S11.32Is@1l35, sold at Sll37L2. off to
Sl1.32l2, then at Sill IS. broke to Sl1.25. and at
II o'clock was 81 .2712 January lard sold at
S635@16. 1919. and January ribs at S5.s7I2M
5g212. and at ~ o'clock was weak at under
last hour, owing largely to the drop in the
grain pits and January pork fell to SLIPS at
1 o'clock was about Sl132l9. January lard
eased off to S635@D6. 37l2 and January ribs to
S5.S712. but improved a trifle.
The leading futures ranged as follows: