St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-03-19
WHEAT BREAKS BADLY
General Selling Causes a
Lively Activity in the
Market.
The Early Break Due to Ger
tain Reports From Brad
street.
Wall Street Presents the
Same Amount Of General
Stagnation.
Dealings Confined to the
Smallest Financial Lati-
tude.

CHICAGO, March 1S.-Wheat started out
with little show OF strength, broke badly
under heavy and general selling, and finally
came back TO and above the opening prices
again. The latter rise was brought about by
strong injections of bullish news which
were fired into the market from every point
OF the compass. The early break was due to
the Bradstreet report of very small decrease
i'll available stocks of wheat east of the
Rockles and small decrease west Large
decreases were expected on both coasts. The
strong news which helped to brighten short
sellers later consisted of the purchase at st.
Louis of 1900 bu of wheat for export, the
engagement at Duluth of 5000 bu wheat TO
go all-rail to. New York, the report from Ia
coma that Washington had no more wheat to
ship East the prospect of another cold wave
and the official closing cables, which
quoted Berlin prices up equal to
&c per bushel ana Paris 10 cen
times higher on wheat The lat
ter, however, was Is centimes off on flour
Milmine-Rodman bought an enormous line
OF wheat on the early break. and bought it
back later at higher prices. This ease with
which corn was worked higher tended to in
crease the nervousness of the shorts i'll wheat
and finally helped them to decide to cover
May wheat started at Sl.01s4, sold for mo-
ment at Sl.O176, broke TO ls@1i0l4. re-
covered Sl.01ss and then broke to Si.005s. The
market recovered 10 and hung around S1.01
during most of the morning. and then lifted
TO SLOTS and finally to Sl.02l4. 1t was on
this advance that many of the early buyers
sold out. Receipts for the day at the eleven
important markets were 100000 bu; ship
ments. 100000 bu. Bradstreet's reported a
decrease of 430, 900 hu in available stocks east
ana all increase of 10000 bu in available
stocks west of the Rockies Corn was very
deceptive. 1t started out quite strong, i'm
proved q mere trifle, and then broke badly.
An attempt to buy little grain
on this break lifted it to the
highest point OF the day. The market, for
May especially. was an unnatural one. The
attempts to sell had as much effect in making
low quotations the efforts to buy had in
making high ones May started at 6334c, sold
to 637sc, off TO 62l4c, up to 03s4c The guam
tity of act lal business done was small. Oats
OF Il scalping nature and. was pretty well
scattered The market was a sympathetic
one, following corn closely. May started at
53lsc. sold to 53l4c off to 52Ac, and up to
5314c again. The provision market was easier
and dull with Cudahy again in the market
OH the selling side. The other packers were
touching the market lightly, but selling for
the most part. On the call there was little
more firmuess, but although corn became
very strong pork did not manage to get as
high yesterdays closing prices. May
starred at S11.40. sold Off to Sll.20, up to
S1l.31l2 and off to Sl1.22l2-
The leading futnreS ranged as follows.