St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-05-13

CHICAGO, MAY 12-Tne provisional sellers
and scalpers were against wheat all day until
near the close, when they gave up the fight
and turned to cover part of their short sales.
Bullish news from England, France and
India and the stubborn strength of the May
optton locally. had much to do with the
change of front. Compared with last night,
May wheat this evening is ssc up. and July
ssc. Corn is SSc higher. Pork, lard and ribs
are practically unchanged. There was no
heavy trading in any of the pits.
The delivery last evening of 10000 bushels
of wheat said to come from elevator people,
was expected to depress the May price at
least. Instead May sold at ls@SSc premium
over July. One explanation was that the
wheat which the elevator men sent around
was taken IN by commission houses which
had previously bought it in the pit OIL orders
from the same men who were sending it out
presumably for its effect upon the market
Deliveries this afternoon we're not over q, 900
bushels.
The opening was about lsc under to the
same as yesterdays closing. Prices al
vanced about A@ssc, then declined l20ssc,
again advanced 7s@lc per bu, and ruled
quite strong. The weather continues to
have considerable effect upon the market if
prices at the start were due to the cold and
unreasonable weather. and the subsequent
decline was attributed to reports of clearing
weather in the Northwest and the later ad-
vance was helped along by strong continental
cables and report that the natives of India
were storing their wheat on account OF low
prices and unfavorahle outlook for the crop.
Beerbohm was credited with with saying
that the coast is being rapidly cleared of
cargoes, andn Paris cable said the market
c N taa or
umption-miIlers good buyers. There
was fair demand for export at the seaboard.
and forty and a half loads reported, taken at
New York and out ports, and 1t was claimed
that the purchases yesterday were larger than
reported, that seyentyfive loads at sNew
York alone had been engaged. Rain was re-
ported in the West and prospects OF rain
throughout central districts tomorrow Bet
ter weather was reported IN the Northwest,
and seeding prog reSSlng.
Holders of corn at the opening were afraid
of a slump in case of bright weather, and
shorts were afra d of bulge in case there
were more rains reported. The weather
board showed rains pretty general again
over Kansas, Nebraska, Iowa and Illinois
early. This started the market at an adj
vance Then the Price Current dispatch
was circulated, saying the late rains had not
as yet seriously prejudiced corn crop pros
poets. This caused some selling. The trade
suspected Baldwin & Farnum of trying to
work off some more of the New York line,
and prices had quite drop with wheat.
On the break, Logan and other commission
houses had buying orders. Ward was good
buyer. Local operators who got short trying to
start break i'll July under 43c were quick to
buy at little rally, and there was good re-
covery later at the same time and helped the
buying. z,
Oats. after opening up firm, weakened
with the other cereals on fine weather re-
ports. but eventually recovered
Provisions were extremely dull and the
fluctuations insignificant
Freights were steady, with a fair demand
for boats &c for wheat and lac corn TO-
Buffalo.
The estimated receipts for tomorrow are !:
Ninety cars of wheat, 215 cars of corn, 17g
cars of cats and 24.00) hogs.
The leading futures ranged as follows: