St. Paul daily globe., 1892-02-01
WHEAT DULL, LOWER,
News ALI Bearish in Chicago,
Backed by Local Senti-
ment.
Offerings We're in Excess OF
the Demand 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. S0.-Wheat ruled dull and
lower today. The news was nearly all bear
ish; local sentiment was in accord with It,
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
LOCO, COO bu less than the week previous and
the trade was figuring on an increase of 5O0,-
coo bu i'll 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 diseouragement.
Partridge and other local bears sold heav-
ily: for a time 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
cut there was a recession from early figures
Charles Wright was the largest individual
buyer covering big line on which he has
been short tor a considerable time, while
Pardridge was by all odds the heaviest selle-.
McDougall, Schwartz-Dupee. Logan and
Milmine- Bodman each covered considerable
wheat put out ut the relatively high prices
which ruled early in the weak. There was
some talk of good buying by some strong
local capitalists. who. it is reported, were
taking wheat on ali of the breaks, but it did
not appear that their operations were i'm
portant On the break Clifford. Hately Bros,
MltclelI ana some OF the private wire HOUSES
were good buyers, largely, 1t is thought. to
cover short sales.
Closing cables showed no improvement,
and, in the opinion of some dealers, il begins
to look as if Europe had become Indifferent
TO our wheat crop movement as stocks
everywhere abroad are said to be unusually
large. and the average prices for the week sc
lower. The foreign situation. as indicated
by the late cables. caused renewed selling
and increased weakness. May opened 1sc
lower at 90s4c. which proved to be the high
est price of the day. worked slowly off TO
9T1sc. firmed up a little, then weakened 10
S97Sc. strengthened on covering by shorts
near the close. but closed easy at 9j14c.
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 i'll 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 1sc lower at 4V7Bc, firmed up to
401sc, weakened to 40s4c and closed at 407sc
Oats were quiet and easy, and May shows
loss of l2c.
Hog products were lower on the larger re-
ceipts OF hogs than expected, and a decline
Of 5@10c at the yards. The weakness in
grains was also felt pathetically. though
there were several little rallies during the
session, and the close shows a loss of only sc
in pork. 5@l7l2c in lard and 2lsc in ribs Es
timated receipts for Monday: Wheat 130
ears; corn, go cars; oats, $50 cars; hogs, 36,
900 head.
The leading futures ranged as follows: