St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-02-07
WHEAT WAS NERVOUS
Extreme SenSitiveness Was
the Ruling Factor in Chi
eago Dealings.
Although the Days Prices
Averaged High, the Close
Shows a Loss.
Corn Affected by FeveriSh-
ness in Wheat, and Is q
Bit Lower.
Enormous Transactions in
Coal Stocks Dominated
Wall Street.

Chicago. Feb. 6-NheAt was extremely
nervous today. and though il averaged higher
much higher at times-it closed II a shade
under yesterdays last figures. The news was
generally of Il bullish character, though some
of the Items of intelligence calculated TO
affect values both for and against higher
prices, were declared 10 be inaccurate or I'M
true. and there were suspicious that the news
manufactury was in operation. For instance,
il was given out by one house that the story
about winter wheat damage from frosts i'll
France could not be true, inasmuch as its
French correspondent had furnished the re-
cent temperatures in that country showing
that the frost line had not been reached.
On the other hand, while BradstreeLs re-
ported the exports from both coasts for the
week at substantially the same figures as for
the preceding week. 4 statement was handed
around that this was incorr Ct and there
vas in reality, an increase of about a quarter
OF Il million bushels The market was III
such q nervous condition that it responded
readily 10 such influences. There is under
stood 10 be a inrce short interest and the
steady upward turn Tor the past few days
has created some alarm, and there was more
disposition on the part Of shorts to cover, and
even some OF the most Stalwart bears were
proceeding with more caution. Even Pard-
TiC9e was not plunging Win his usual reck-
leSSneSS; in fact, he bought some until the
advance eliminated, when he turned seller
again.
AT the start there was good deal of nerv-
Gus strength left over from yesterday, and
this was reinforced Dy the bull news. Cables
were all quoted higher. Paris showing the
most advance This was said 10 be due TO
serious damage to the French crop and fear
OF more to come. This was, in fact, the
principal ammunition of the bulls. and it was
used for all IL was worth. AT the start prices
were SsGtesc above yesterdays close, but the
advance led TO neavy realizing sales by the
fortunate longs, and under these offerings
there was quick drop. When this pressure
was off. however. the market showed its
buoyance by q speedy reaction, but later
weakened again and lost the gain. May
opened al 929g2l4c against 9l9sc at The close
yesterday. sold off 10 9iSse, advanced to g14c,
broke to 9IL2c, rallied 20 Pipe huc.uaied sew
eral times within the established range,
broke 10 9Issc again. but closed firm at 9Il2c.
Corn was more subject 10 the influence Of
wheat today than it has been for some time
past. 1t opened excited and higher at 43c
against Ease at the close yesterday, sold off
4-5sc, advanced TO 43l4c. broke during the
last hour and closed at 424c. The trade was
broader and confidence more general and
but investment buying was on the increase
ne situation has not changed materially, as
< vas apparently strong enough before; but
thS zeFerlsh condition IN wheat has impaired
= similar tone 10 corn
Oats were more active and strong put de-
Veloped no special feature.
Early III the session hog products were
rather more active and firm in sympathy
largely with the buoyant feeling in the other
pits, but weakened some later and closed at
slight advances.
Estimated receipts for Monday: Wheat, 1850
cars; corn, 209 cars; oats, $50 cars; hogs,
26.GO0 head
The lending futures range as follows: