St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-04-03
MAY WHEAT IS STIFF.
1t Easily Gains a Cent in
Spite Of Determined
Protest.
The State Of Affairs Abroad
Exert No Small Degree
Of Influence.
Provisions, After a Weak
Start, Brace Up and Re-
main Firm.
Less Than Usual Interest
Taken in the Wall Street
Stock Market.

CHICAGO April "A heavy demand for
cash wheat and a state of affairs abroad, as
shown by the tone of the cablegranls, which
plainly indicated serious apprehensions re-
gardipg supplies spreading in England. made
it easy to advance the price i'll spite of the de-
termined efforts OF many heavy sellers to
prevent it. May wheat opened firm at 81. OLA
and closed strong at S1.05 BID or about 1c i'm
provement on the price current at the CORE
spending time yesterday. Corn was steady
to firm, in sympathy with wheat, and gained
s4c. Provisions after weak start braced up
and closed firm at the best prices of the day.
While the foreign news was mainly RESPONSE
bic for the advance in wheat local influences
also made for higher prices. The state of
the weather was disquieung to the shorts,
and those of them who trade on the princi-
PIE of submitting to only small losses were
the principal buyers. From S1.04l2 May
shot up quickly to Sl.04S4, but met
with heavy selling orders at the
latter price and fell back slowly
to S1044 The trading was only brisk in
spots, and the fluctuations for long time
confined within comparatively narrow Inn
its, the figures already quoted marking the
extremes during the first half of the session.
Bull news was crowding in over the wires,
but every bulge was met by heavy offerings
from the bear contingent headed by Rcam,
also. The taking of considerable lines OF
spring and winter wheat from store here to
go East by rail SO close to the opening OF
lake navigation was the cause or q TURNER
desire to buy on the part OF the shorts. Ihere
was an advance on this TO S1.05, and the re-
action from that point did not carry the
price below S1.0412, and that was followed
by another bulge and jump to SlOols. New
York reported twelve boatloads of wheat
worked for Lisbon. Minneapolis millers were
bid one shilling advance on patents. The clos
ing cables reported Berlin lower for wheat
futures by from Ice TO 1c per bu. London was
3dMiI2d per quarter higher. Paris advanced
10 centimes on wheat and confines on flour.
The damp weather and light receipts were
favorable to holders of corn, bnt prices were
maintained with difficulty early IN the day,
owing to an apparent Willingness to sell on
the part of some of the firms who were ident-
flied with the bull clique during the previous
heavy advance. The opening for May was
Csc, and it declined to 67l2c and advanced
again, striking eSl2c for moment. Con-
siderable excitement was occasioneG in oats
by dispatch from Frank Ryan, of st. LOUIS,
10 w. G. Mccormick. 1t reported corner
and an advance in May from l2c
quenly lost. The market attracted
a large attendance OF traders and was
excited, but not particularly active. May
started at 5414c, or Ssc above yesterdays clos
ing, and sold to 535sc, hardening to 55c on
the strength of the above mentioned dis
patch. 1t reacted to SLICE, but recovered and
closed firm and 1lsc higher at SOC. a blizzard
which was reported TO be raging in Nebraska
helped the advance. The provision market
Immediately at the start was favoring lower
prices, but after momentary Drop there was
a sudden bulge. followed by another weak
spell, and that in turn by an advance which
left the prices at about their best as their
market came to a close. May pork closed sc
higher than 1t did yesterday. Ribs were
practically unchanged at the close, and lard
was about sc lower.
The leading futures range as follows: