St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-01-31
WHEAT DULL, LOWER.
News All Rearish in Chicago,
Backed by Local Senti-
ment.
Offerings We're in Excess Of
the d emand Throughout
the Day.
Every Article on the List Suf-
fered More or Less in
Quotations.
Fag End Of a Weeks Market
Developed Weakness at
New York.

CHICAGO. Jan 30.-Wheat ruled dull and
lower today. The news wes nearly all bear
ish: local sentiment was III accord with 1t.
and the offerings were in excess of the de-
mand. Cables were depressed and lower,
with domestic markets tending downward.
The export business for the week was nearly
1000, 600 bu less imam the week previous, and
the trade was figuring on an increase of 5O0,-
coo bu in the visible supply. New York and
ST. Louis had liberal selling orders here, and
some of the largest local longs dropped their
holdings through sheer encouragement.
Partridge and other local bears sold heav-
lily: for Tine The purchases against puts
and the covering by shorts who had salts
factory profit, absorbed the property very
readily But finally the continuous stream
of offerings began to tell and buyers drawing
out there WAS Il recession from early figures.
Charles Wright was lhe largest individual
buyer covering Il Zig line on which he has
been short Tor 4 considerable time, while
Pardridge was by ali odds the heaviest seller.
Mcdonald SchWartz-Dupee. Logan and
Minnie Bodman each covered considerable
wheat put out 1T the relatively high prices
which rulcd early III the weak There was
some talk of good buying by some strong
local capitalists, who it is reported, were
taking V heat Oh all of the breaks, but il did
not appear that their operations were i'm
portant. on the break Clifford. Hately Bros,
Mitchell ana some OF the pElNslle NlrS HOUSES
were good buyers, largely, II Is thought. to
cover short sales.
Closing cables showed no improvements
and in the opinion Of SGme dealers, il begins
TO look as if Europe had become Indifferent
10 our wheat crop movement, as stocks
everywhere abroad are said TO be unusually
large. and the average prices Tor The week &c
lower. The foreign situation as indicated
by the late cables. caused renewed selling
ana increased weakness. May opened 1sc
lower at 9Cs4c. which proved To be the high
est price of the day. worked slowly off to
Q &c fiTmed up a little, then weakened 10
SS7sc strengthened on covering by shorts
near the close. but closed easy at G. 14c.
Corn showed considerable firmness in the
early part of the session, in spite of weak
cables and selling by Partridge, but it weak
ened later in sympathy with the weakness in
wheat and provisions. Shorts were not do
ing much i'll the way OF covering, while some
OF the late buyers were hquidating freely.
May started lsc lower at 4 sc hrmed up to
aClsc weakened 10 4S4c and closed al 4C7sc.
cats were quiet and easy, and May shows a
loss of l2c.
Hog products were lower on the larger re-
OF 5Gl0c at the yards. The weakness in
grains was also felt sympathetically. though
.here were several LILLE rallies during the
session, and the close shows loss of only sc
In pork. 5GU1l2c in lard and 2lac in ribs. Es
timated receipts for Monday: Wheat. $50
cars; corn, $50 cars; oats, $50 cars; hogs, &c.
900 head.
The leading futures ranged as follows: