St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-03-04
Wheat Opened Weak at Chi
cage, Became Strong and
Then Weakened.
Moderating and Favorable
Weather for Crops Was a
Bear Factor.
Wheat and Hog Product Go
Down, Corn and Oats
Steady.
A Narrow Market at New York,
but Large Amount Of
Business.

CHICAGO, March 3.-Wheat wobbled little
at the opening, then became strong and
marked substantial advance, but weakened
again later, and closed easy at about the low
est figures of the day. and at a decline of ssc
compared with yesterdays closing. The
weaker opening was attributed TO moderat
ing weather, and rather more favorable adj
vices regarding the growing crop in America,
but aside from the above influences the news
was all more or less of a hullish character
New York parties were again buyers here,
and it was claimed that some wheat was
bought here on Liverpool account In New
York foreigners bought fairly for August de-
livery.
The advance which followed the opening
was due 10 stronger European markets. in
fuenced. it was claimed, by the unsettled
and unfayorable weather abroad for the
crops. The weather in France was reported
colder. The stock of wheat in San
francisco was reported as having de.
creased 100000 blu during the month of
February. Notwithstanding the publish
news. the market late in the day became
weak on free local selling, helped by the
break in provisions. Liverpool was quoted
12@1l2d higher London was quoted I'D
lower for cargoes. aid unchanged for futures.
Berlin was unchanged. and Antwerp was
weaker, and Paris higher. New York re-
ported thirty-two loads taken for export
The clearances yesterday from the seahoard
aggregated POS 600 bu. Arrivals III the North
west continue quite liberal. The Cincinnati
Price Current reported that there was an evil
dent improvement in the condition of winter
wheat in many places during the past two
weeks. but that there was good deal OF
apprehension as to the effect of the
March weather and holders were apparently
unwilling to market at present prices. The
private wire houses were generally good buy
ers almost from the start, largely, apparent
ly, on New York orders. Logan, Milmine-
Bodman, Lamson and CoEselman and Day
were active on the buying side; shorts soon
grew nervous and made anxious efforts to
cover and their buying helped to increase the
frmneSs May opened 1sc lower at Ole, sold
at 9075c, improved slowly to 9lSpc; then, on
heavy short selling by Partridge and the lib
eral realizing on long wheat there was some
yielding in prices and May touched 91Ae.
But there seemed to be no loss of confidence
and the buying again became sharp, followed
by reaction during which the lost ground
was recovered.
Then, during the last hour, the crowd
which had loaded up on the strong cables.
undertook 10 realize, but found little demand.
About the same time some private advices
quoted lower prices abroad, and some of the
leading houses turned sellers and weakness
ruled May went off to 90S8c and closed at
90l2c. The break in pork was also a weak
enlng factor 1t was generally thought that
Pardridges short sales today would foot up
over million bushels, and that his aggre-
gate short line could not be less than 5,0J0000
bushels.
Corn was quiet, steady and nearly feature
less; there was little business and the f1uctu-
atoms were narrow. The firm tone in wheat
had a tendency to hold corn steady until it
broke in the afternoon. when corn weakened
some in sympathy. The fluctuations of the
day were confined TO Ac range and the close
was unchanged, compared with yesterday
Oats were dull and steady within Ac
range, and closed 1ec lower.
Hog products opened higher, especially for
pork, due to the small receipts of hogs and
an advance of t@10c in prices. Early sales
were at $11. As, but there was a rush to sell.
Fuckers being in the lead and the price
steadily declined TO $l1 22l2 in the forenoon.
During the last hour the pressure was in
creased, and the price went off to 81. 1912,
but rallied near the close to $11.20, a loss of
zoe compared with yesterday.
Lard and ribs symDathized with pork but
with less marked fluctuations. The former
shows & loss Of &c and the latter of SC. Esti-
mated receipts for tomorrow: Wheat, liz
cars: corn, 150 cars: oats, los cars; hogs, a.
600 head.
The leading futures ranged as follows.