St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-05-10

CHICAGO May 0.-EveIy storm out West
had a counterpart cyclone today on the Chi
cago BOARD of trade. Excited operators and
ragged prices were the result. Wheat slarted
with strength enough for a two cent advance.
but left off with q modest I2c gain on Satur-
days closing price. Corn did exactly the re-
verse of wheat. 1t had even wilder begin
ming, and jumped up and down like mad;
the total advance being enc, but the closing
was within l2c OF the top. Pork went sky
ward 11I2c.
In wheat the bullying was attributed to the
unreasonable weather all over the country.
but particularly in the Northwest where cold,
wet and snowy weather has delayed seeding,
and the season is late. The wheat market may
also have worked in sympathy with corn.
The visible supply also showed another big
decrease. Early in the day much larger de-
crease than reported was calculated upon,
and this helped the market some. Later the
market eased off on free speculative offer
ings influenced some by more favorable re-
ports of the growing crop in California.
A report credited TO the New York Mail,
saying that in few days Russia will issue an
edict permitting the export of wheat, and
that the export of corn and oats is already
permitted. helped to increase the weakness.
There was an impression, also, That Dodge
report, due tomorrow afternoon, would snow
an improvement i'll the status OF winter
wheat. July opened 7Sc up at S35sc, sold to
S4Ssc 10 S3S4c, to S4lsc, 10 S2S4c, to S3Ac.
closing at S9Isc bid. The rally at the close
was due TO the fact that latest dispatches
from Northwest and southwest showed no
improvement from the drenched condition
of the whole wheat territory.
For corn il was almost case of buy it first
and inquire the price afIerward. May, which
on Saturday closed at 4ls4c was being eXclt-
eddy bid tor at Acc, and W tn none for sale
Co. lng nnrhn n 9
high as 47l2c, and a good many at 474c In
July sales took place simultaneously at the
opening at from 42Ac up to 43c, and III sec
ond or two buyers were plentiful at 43c-
From the latter price UP to 44l2c took only
about five minutes of the exciting trade.
The nervousness generated kept the pit I'D
on the boil throug hout the session.
1t was weather market pure and simple.
continuation of present conditions would,
il was said, undoubtedly cause further
advance and, on the other hand, week of
bright. clear, warm weather would be likely
to cause lively dumping of long stuff. Firm
cables and the decrease in the visible of
course confirmed the bullishness. 1t was
rumOred that elevator companies along the
railroads had discovered that much corn in
tended for May contracts had been so dam D.
ened by the late excessive moisture that 1t
shows sign of mold and will under no cir
eumstances grade contract. July opened a
clear 1l2c up at 43l2e, sold to 44l2c, reacted
to 1920. up to 44Ac, to 437sc, to 44Ssc, to
435sc, 10 4ic, at which it closed.
Oats advanced with the other grains on the
bad weather reports. the market ruling about
1I2c higher early i'll the session. but subse-
quentIy weakening. The close was at 7sc
above Saturdays figures. Trade was active,
especially at the opening, when country Or
ders poured IN.
The provision market started strong at a
slight advance, in sympathy with the bullish
feeling in all the grain markets. When
very sharp advance in corn followed. pro-
visions made further gain. There was some
buying by scalperS, who thought a general
advance might be in order. Packers and otn-
ers interested in establishing higher range
of values helped bid prices up. The chief
Influence was higher priced corn. Lard and
ribs each advanced 10c, closing at the high
est.
Freights were quiet and easy at &c for
wheat and lac for corn to Buffalo, and 1I2c
for corn TO Port Huron.
Estimated receipts for tomorrow: Wheat
1875 cars: corn, 800 cars; oats, pa cars: hogs,
$50 0 head.
The lie ldru, futures ranged as follows: