St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-04-04
The SAME OLD PRICE.
May Wheat Opens and Shut
fies Around One Dollar
and Five Cents.
Longs Believe They Have a
Sharp Profit in Their
Holdings.
Russian Crop Profits Much
Better Than Was Sup
posed.
The Wall Street Stock Market
q Banner One for Dull
ness.

CHICAGO. April 3.-The weather here and
the strength Of the foreign markets favored
the holders of wheat and caused the market
TO open very strong, with 81 05Ia very. gener-
ally bid for May at the start and also large
quantities for sale at that price. Longs with
a profit in their holdings and the more
courageous of the shorts were the sellers.
There was great deal of realizing and a
wonderful aosorptive faculty displayed BY
the marketfor such lines of long wheat as
were abundant. The range for an hour was
very narrow Sl05ls and SLO54 marking Its
upper and under edges. Some items in the
news. notably a cablegram from Berlin.
which reported Russian crop prospects bet
ter than had been generally supposed here
anu shipments of wheat from that country
increasing, created a temporary weakness
which caused decline in the price to 81. 04h,
Out on reports Of continuation Of the ex-
port demand and further inquiry for cash
wheat here, and -four at advanced prices at
Mlnnea pollS the market stiffened again and
by u o. clock, was back again to S1.05G2. The
public cablegram quoted Liverpool strong
and I'd higher; cargoes of California wheat
LIZ to Sd higher, and -four Sd higher in Lon
don; San Francisco reported an advance Of
very nearly &c per bu in wheat there yester-
Gay hard weather was reported from North
ern Minnesota and Is to 20 deg of frost very
generally in the spring wheat re
glon Inc bear news principally re
Iated to the home crop prospects, which
so far Is wheat is concerned. are gen
orally considered excellent Kansas re-
ports 81 per cent increase of acreage, and the
average condition never better at the CORE
sPondlng time IN former years. The closing
OF the foreign markets was quoted generally
nigher- y cargo Of Oregon wheat sold in
London a 43s, or cd per quarter advance on
Yesterday price. Berlin was about Sac per
Du higher. In Paris wheat was up 10 centimes
and flour from Is TO y centimes. The firm
tone of those dispatches held the marke: an
til near the close, and the reports of consid-
cradle cash business at New York, Duluth
and Chicago were likewise contrIbutory to
maintaining the prices but the bulls had
apparently bought all they required and bear
sales depressed the price at the close to 81 05.
The corn market opened for May st sc, com
pared with 6SS3c at the close of yesterdays
session. 1t was run up rather quickly to
69S5e but very little business was done at
over 69c. The tendency after the first FIVE
minutes was in downward direction and it
gradually sold off to 6SI2c: there was a sub
sequent recovery TO Soc but the lowest prices
OF the day were made within the last fifteen
minutes, May selling down to 694c. Oats
were very strong early, weakening later, but
was tajrly heavy aud all of scalp
ing nature, with no prominent transac-
tons to note. The provision mar
ket was firm at the opening under
eAAS VI ~ iFdlICS III the price VI
hogs and the early strength in gram. Pork
opened at an advance of about sc and made
slightly higher price, still almost immed-
ately fluctuated within a 7l2c range for a
time, then weakened and closed 12I2c lower
than IL opened and Zoe under yesterday
resting price. Ribs were for the most part
stronger than pork, opening with jump of
Ice, but in the end closing at a loss of Sc
Lard was also firm during the greater part of
the session but finally closed at a loss since
yesterday of from Pig to sc.
The leading futures range as follows: