St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-10-07
Bullish News Stiffens Dealings
in Wheat on the Chicago
Board.
Slight Rises in All Domestic
Markets Helped the Cereal
Upward.
Corn Was Irregular and a
Loss Is Noted on the
Figures.
Persistent Hammering by the
Professionals the Feature
of Wall Street.

CHICAGO, Oct. 6.-Wheat was strong and
higher today on combination of bullish
news and local sentiment. 1t was reported
early that Russia would soon prohibit the
expectation of all cereals, and this was
given added strength later by Paris cable
gram to Schwartz saying it was reported
Russian wheat exports were about to be pro-
hibited, and that the Paris market was strong
and advancing. The London Times was
quoted as saying that the English crop was
not turning out as well as expected, there
being loss of grain by Smelling in the field
and damage by sDrouting. Rains were still
reported in the Dakotas. Receipts at Min
neapolis and Duluth were very light
and the continued cold weather in the win
ter wheat belt it was thought would restrict
the acreage of winter wheat for the next
crop In addition to this, domestic markets
showed much firmness. and continued TO i'm
prove in prices, New York selling up 1c,
Duluth lac and Minneapolis about 1c
On the other hand as bearish items, there
was the fact that Liverpool was lower and
the fact that British visible supply had in
creased 100000 bushels during the past
week.
Shorts were nervous and disposed TO cover,
but found very little wheat for sale, which
only increased their desire TO get. They
were aided i'll the early part of the session by
purchasing orders from New York account
There was free buying by leading commission
houses and the trading became somewhat
excited. December opened at 9S09S14c, ad-
vanced sharply TO 99Ac, but eased off to
$3.50 and stood at 99c at noon against 01s4c at
the closing yesterday In the last hour it be-
came easier and was selling at g9IBc fell to
9Sssc, but closed steady al 9Sl2c
HutchlDSOnS brokers who sold on first ad-
vance, TUNED buyerSWhen the market touched
99c. The most active shorts had covered by
noon, and some OF the early buyers began to
realize on the advance. Frank Mangin was
a liberal seller presumably for Hutch
inson. New Workers also sold a good
deal "he seaboard clearances were $40,
600 bu. Late cables reported Berlin 3l2 marks
equal TO sc per bu, lower on wheat Antwerp
% confines lower, and Paris 20 centimes
lower. Late Liverpool cables. however, re-
ported the market firm and higher.
Corn was quite Irregular, and at one time
had severe slump. but the strength in wheat
finally caused it to recover part of the de-
cline. The receipts were only 80 cars. Octo-
Der opened unchanged at 52l4c, and sold to
52l2c, then, on free selling by some of the
big operators led by Baldwin and Farnum,
the market became very heavy, and there
was a quick drop to 51l4c. But
when the pressure was removed the mar
ket recovered some and was helped
by The strength in wheat selling back TO
52lsc and off to SIC. During the last hour
the market became firmer on the light esti-
mated receipts for tomorrow, October adj
vancng to 52s4, but it soon ceased on the
free selling and rumors of more new corn
arriving in Kansas City and St. Louis in fine
and dry condition, and sold off to aud closed
at STAG
Oats were quiet and closed at Yesterdays
last prices.
Hog products were weak aud lower. infiu-
enced good deal by the weakness of corn
and the absence of buyers, and the close
shows loss of 12I2@20c on pork, 7I2c on lard
and ribs. The board will not be in session
tomorrow on account of the Grant statue
unwilling.
The leading futures rnneed as follows.