St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-03-11
Unsettled and Weak Feeling
on the Chicago Board
Of Trade.
Bad Break in Price Checked a
Bit by Purchases to
Take Profits.
More or Less of a Decline Re-
corded in Cereals and
Hog Products.
Uncertainty as to st. Paul
Dividend Restricted Trad
ing at New York.

CHICAGO, March 10.-Wheat was unsettled
today, but the general feeling was one of
weakness. and prices averaged considerably
lower. The first transactions were at lac be-
low to Ac above yesterdays last figures. A
heavy selling pressure was soon made mani
fest under the influence of which the mar
ket broke over cent in a very short time,
but at the bottom purchases to take visible
profits on the decline caused a reaction.
There were several fluctuations within the
established range, and the close was at loss
of about 5sc compared with yesterdays last
figures
The cold wave made its appearance as adj
vertised but the trade did not feel as nervous
over it as it did yesterday, and seemed to
conclude that, as winter wheat was not
tropical plant, freezing was not likely to
prove fatal to it. especially as it promised to
be of such short duration, the signal service
predicting rise in temperature tomorrow.
New York operators were first to grasp the
situation and there was heavy selling on
orders from them which started local deal
ers to unloading the long wheat which they
took on OH the cold wave scare OF yesterday.
This change i'll sentiment was supplemented
by weak cables early. which proTed a disap-
pointment Another incentive to the selling
was the general feeling that the government
crop report due this afternoon would prove
a bear document and show the stock OF
wheat III farmers hands depressingly large.
In view of all this many of the holders of
wheat made haste to get rid of it before the
break they looked for should come, and the
bears made an equal effort to get out short
line for the same reason. The result of all
this was a very weak market for the first half
hour. There was then a halt, and the sellers
having exhausted themselves, the market
began to react. The late cables come III
higher, almost without exception. Armour
and nj. B. Ream were said TO be picking UP
large lots of wheat, and confidence was
restored to some extent.
AT and near the opening May sold at 500
S912c, against S914c at the close yesterdays
declined to SS4c, sold up to SSS4c, where II
was steady for time. During the last hour
the market got some strength from crop dam
age reports from Russia, and it was also
claimed that the late cold weather had seri.
ouSly injured the outlook in Kansas and
Missouri Early short sellers made an
attempt to get back what they had sold, and
the price of May was advanced to soc. But
the selling on the advance was very free, and
there was a quick drop to SSl2c, reacted
again TO S9c weakened near the close and
closed steady at 8S5Sc
Corn was slow and weak, Influenced some
by the decline in wheat and provisions and
also by the colder weather and the fear that
the report Of stocks i'll farmers hands would
prove bear factor. The selling was free
with light demand. The market improved
some during the last hour, hut weakened
again, closing only shade above the lowest
point touched and making loss of Ssc.
I. Oats were quiet and weak and closed with
q loss OF 4c.
Hog products opened higher on the fact
that the receipts of hogs at the yards were
5000 under the estimate. with prices sc high
er. Early sales of May pork were as high as
S11 22l2. but there was rush to sell, under
which there was steady break TO S1l .05, and
the close was at Sl1 .01l2, loss OF l0c. Lard
is 2I2c lower and ribs sc.
Estimated receipts for tomorroW-W heat,
ITO cars corn, 100 cars; oats, 10 cars; hogs,
$4,000 head.
The leading futures ranged as follows;
Articles Open High Low Clos