St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-11-12
WHEAT ON The JUMP.
The Government Crop Report
Causes Prices to Go Up
With a Rush.
Shorts Make a Rush to Cover,
and Excitement ReignS
for a Time.
Corn Figures MIDDLE the Pit,
and That Cereal Closes
With a Loss.
Stocks Active and Strong,
With a Further Advance
- DnSonC

CH: CAGo, Nov. u-Wheat was on the
jump today. The government crop report
was the cause. and the price was lifted ll2c,
closing within SEC of the top. The ti9ureS on
corn muddled the pit and that cereal left off
with loss of 4c. Oats are unchanged aud
provisions shade east err.
A good deal of alarm among shorts was
manifest at the opening in wheat. There
was general rush TO cover, and the market
for time was quite excited. Cables were
weak and lower, but this had little or no i'll
huence here, nor did the fact that Partridge,
Logan. Seaverns aud others sold generously
on the advance After the noon hour
the market had another squirt, but
the realizing sales sent it back somewhat 1t
S 50 netting unusual for the government to
make reporS on the wheat crop in Novem-
Der. and operators did not look for any re-
port. Last month 5 percentages indicated
crop of 5l9,OOO00) bushels, based on the per.
centages of acreage published i'll June, and
the average yield per acre published i'll Octo-
Der confirmed the estimated acreage and the
indicated yield as then published. But the
report yesterday, as given out by the govern
ment department, says that the yield Will not
exceed 5O0.0J0.00J bushels, and it was his
that created the strength and advance i'll the
market. 1t was decided surprise.
The opening was about SsGDS4c higher than
Yesterdays closing figures, ruled firm, aud
prices were advanced 5s(1S4c more, then be-
came easier and prices declined SIC for De-
cember and Ic for May, again DEVELOPED
strength, and this time prices were advanced
7Sc for December aud " for May, ruled ir
regular, and the Closing was l4c higher for
December and Isc higher for May than the
closing figures OF yesterday.
Corn was active and unsettled. Opening
trades were lBdSSc al owe the final figures OF
yesterday. the government report placing
the yield per acre at PA bu, and indicating
a crop Of 163OOoCoo e !h,,,l being eh con con
advance brought great number
OF selling orders, good deal
of long property coming out, under which
the price gradually sagged off lac. when the
estimated arrivals for tomorrow came in at
115 cars which caused the market to again
advance 5sc, but did not last, as continued
selling by prominent houses. supposed to be
acting in the interest OF longs caused de
cline of l2Ql58c The market then changed
some. ruled steady and closed with 1s0Ac
loss. The report reduced previous estimates
about 35, O00.UOJ bu. The near futures were
relatively easier than May, which tended to
depress that future.
Oats averaged slightly higher. Opening
sales were made at 1i@I2c advance, there
being considerable excitement in May. There
was good realizing by longs, and at BIC for
May there appeared to be liberal offerings
and it was difficult to execute all orders at
the top figures, reacted Csc and fiuctuated
within ssc range.
The provision market was not very active.
The principal feature of the trading in the
pit was the selling of January and buying of
May lard by Wright at sc difference in price,
and in such lots as were wanted The prices
were at their best for the day soon after the
opening. January pork only once touched
point as high as it closed yesterday. 1t
wound up at decline of 12l2c for January,
compared with the closing quotation yester
day. Lard was also easier and closed with a
loss of 5l2c. January ribs were comparatively
firm. the decline ill them being only 2I2c
shippers were anxious to secure vessel
room, and, the offerings not being large,
agents were able to get &c advance in rates
to Buffalo. and &c was paid for wheat and
.a4c for corn. Estimated receipts tor tomor-
row: Wheat. 215 cars; corn, l75 cars; Oats,
125 cars; hogs, $4,000.
The leading futures ranged as follows:
Open High. Low Clos