St. Paul daily globe., 1892-03-02
IMPROVED AVERAGE,
A Firm Undertone on Chicago
Change Influenced Prices
for the Better.
Traders Disturbed and Opera
tions Restricted by Con-
flieting News.
Corn, Oats and Hog Products
Strong and Closed With
a Gain.
Fractional Losses Sustaine d
on a Dull, Heavy Day in
Wall Street.

CHICAGO, March Wheat was quiet and
price changes we're rather narrow, but the
undertone was firm and prices averaged
somewhat higher than at the close yester-
day. Ther- was nothing very decisive in the
way of news, and it was pretty impartially
distributed, each side getting about equal en-
couragement. Cables came rather weak and
Liverpool was lower, with a general falling
off in the demand reported. both in the
United Kingdom and on the continent, with
buyers demanding concessions. Stocks on
hand were said to be ample.a and one dispatch
stated that since Sept. the United Kingdom
had received 20.09l0J0 bushels more than It's
requirements for the same time: the amount
Oh ocean passage showed an increase du ring
the week of $4,000 bushels, which was a
considerable appointment, as decrease
was expected.
The continued exports of gold had rath
er depressing effect. creating more or less
apprehensions as to the final effect on busi-
ness. Yet the friends of wheat found a lit
tie encouragement in the fact that the
English visible had decreased 10000 bu
during the last week. that the crop prospects
III Russia and France were apparently grow
ing worse and that there was no great selling
pressure here. Some private dispatches
from Kansas and Missouri were in sharp con-
tradiction OF those received yesterday, and
told of good deal of damage in those states
by freezing and thawing and quoted the
general outlook as rather poor.
These conflicting statements kept ira deTS
in a state OF uncertainty, and materially re-
stricted operations. Still, considering the
break of yesterday. even the bears dld not
seem disposed to press their advantage much
further for the moment and rather strong
feeling ruled most of the time, shorts cover
ing freely, and there was also some invest
ment buying up TO the noon hour Then the
market became weak. The advance secured
during the forenoon brought out large
amount OF long stuff, which showed profit
and the short selling became m ore aggressive.
Late cables were also less ass uring. The re-
suit was that the advance was lost; but there
was some reaction before the close, which
was at medium figures. May opened I'M
changed at e9Mc, advanced to i2c, receded
to 975c, and closed steady at 931sc.
Corn was decidedly strong and higher.
The offerings were light and with good
demand for cash corn from shippers shorts
seemed disposed to cover and the longs were
doing what they could to increase the firm
ness The frmness in wheat and the small
receipts of corn estimated for tomorrow were
also strong factors. 1t weakened little, in
sympathy with wheat. during The last hour,
but closed at about the top. May opened
unchanged at 42lac, advanced to 42&4c. weak
ened TO 42l2c and closed steady at 495sc.
Cats symDathized with wheat and corn and
closed with Ac advance.
Hog products were unsettled. Pork
opened higher on the smaller receipts of hogs
than expected and 50DlOc advance i'll price,
and marked an improvement Of 1nc per bar
rel; but there was an absence of buyers, and
on Offers by a prominent speculator there
was a recession of l5c then period of
steadiness, and the close was point higher
than yesterdays.
The deliveries on all the articles traded in
were light. Estimated receipts for tomor-
row. Wheat, $50 cars; corn, $50 cars; oats,
100 cars: hogs "a, 600 head. NJ.
The leading futures ranged as follows: