St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-05-30
4 BIG JUMP IN CORN.
Advance of Fifteen Cents a
Bushel, but Little or No
Excitement.
Difficulty in Following the
Deal Puzzled Traders Not
in the Secret.
Buyers Bunehed Carload Lots
and Sold Them at High
Prices.
Trading in Wheat Was OF a
Local Character, With a
Slight Gain.

CHICAGO. May ga big jump in May corn
;oday caused great interest but apparently
no excitement The advance amounted TO
Inc a bushel. The deal was difficult TO FOL
low. not from the amount of trading, how
ever but rather from the lack OF it. 70 ma
out how it was going the car-lot crowd hau
IN he consulted These cars OF contract
grade are being sold at 75c early, and later
soc was freely paid. and even Sic was PAID
for a car or two Buyers were punching the
car loads into 5.000-bu lots and selling them
for Nav in the pit at between see and SIC.
The DAVIS receipts were Al carsS1 Of which
were of the contract grade, and the estimated
receipts for Monday, $50 cars are heavy.
Rumor points to Partridge Congdon, Ar
n,our and Counselman as the shorts, ana 10
Coster-Martin. Bartlett-Frazier and Il. +.
Pratt rs the holders of the deal, not for any
New York clique put for their own lnclvlh-
nal profit or loss, as the case may be- inc
close was at Slc, or &c from the top OF the
dav. against &c last night other months
than May were moderately active, ana mace
moderate gains. Opening trades were at l2tg
&c advance on the weather. ana on conuh-
ued buying the market advanced ss9g 74G
more, reacted SSGGIc, ruled steady anu cIoseu
with July s467s higher.
Wheat Opened I2c higher. ana prices were
further advanced Ssc, then settled BACK $50
l. held steady and The closing was ABOUT
SkGIac higher than yesterday. Trade was
mostly local. with some little outside buying.
The principal influence was the WeaIDer
reports being received of rain in the west
and Northwest The advance IN corn ana
provisions helped the early advance. and
then Monday being a holiday induced
short covering. operators wishing TO even
up Severn and other elevator operators
bidding for May caused premium OF nearly
c over July. 80
Later as the most urgent demand got filed
m. there was q general easing up. The eX
mort clearanceS for the week were less satls
factory With smaller exports ana larger
receipts the visible supply II Is sad9 Is lAely
TO show somewhere about 2,OO0,OOO blu de-
crease, there being however, considerable
uncertainty as a number OF operators look
for a temperance of some OF the wheat
which dropped out of the visible last week,
and others do not.
Oats ruled firmer with corn. the market be-
ing moderately active, and closing on an adj
vance of from y 10 l2c on recent hgures- a
good many of the traders who sold freely
yesterday bought today.
II was an active dav in provisions The
market showed evidence of manipulation in
connection with the remarkable upturn in
corn early in the day. The scalplng trade
sold out very largely yesterday on the de-
clining market and not few went short i'll
anticipation of further decline. This morn
ing it appeared that it was only shake out
Yesterday. and that the Cudahy people were
not holding on to products, but ready to run
the market up again.
With light offerings early and corn higher
the shorts in provisions took alarm and with
the aid of the local bulls and the packing in
terests there was a big up-turn in prices.
Pork was advanced 40c over last night, ribs
zoe and lard I0c all the first hour. Brokers
claimed that the Cudahy people and others
said to be working with them. were sellers on
the advance. Late IN the day the market
held more steady, with about half of the
early advance lost.
Lake freights were steady with moderate
demand at 1I2c for wheat and 114c for corn
to Buffalo. Estimated receipts for Monday:
Wheat. I3O cars; corn, $50 cars; OATS 30 cars;
hogs. u, 900.
The leading futures ranged ss follows: