St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-03-06
LOWER PRICES RULE.

CHICAGO. March 5-There was a decidedly
bearish feeling in wheat during most of the
session and lower prices ruled. The news
presented sharp contrast with that which
was given out so freely yesterday morning.
The bulls hardly got n single item in their
favor, and the suspicion which started yes
terday that the trade had been cleverly de-
eeived by manufactured intelligence was
strengthened. The foreigners who were rep
resented as buying so vigorously only yester-
day, and the damage to crops which they
represented as SO alarming, we've scarcely
mentioned today. On Il e contrary. dizziness
and apathy seemed to prevail everywhere.
Amid so much that was bearish it is diff
cult to say what was the most depressing. but
the meager exports from the seaboard for the
week-only 2,9,S, 800 bushels; less than tor a
long time-was very diseourasing. The fact
that no wheat was cleared from the seaboard
yesterday, was another bearish item pub
lished report on the condition OF the winter
wheat crop, the continued free movement in
the Northwest and the lower cables are like
wise weakening in their tendency With
this sort of news it did not take long for the
crowd to get on The Lear side with unusual
unanimity. Longs saw all their hopes of
profit shattered and made haste 10 sell, and
the bears taking new courage assisted i'll the
Oecllne by seII!NR freely.
There was very little disposition to buy
until there had been q decided recession in
prices, and even then il was mostly i'll the
way OF covering by shorts who had good
profits i'll sight. Pardridge was buyer and
covered a big line of wheat, which he has
been selling from 9lc up to Csc. and then
down from -95c to9Cc The last two weeks
must have brought the great plunger very
big winnings. New Workers. led by Cottrell,
were heavy sellers from the start The weak
ness continued throughout the session, with
no noticeable reaction and closed weak aud
only slightly above the bottom figures CT the
day at loss of over 1c compared with yes
terday May opened ssc lower at 9tl8c, sold
at 9C4c, worked off TO tGl2c. firmed up to
S9s4e, broke off 10 S914c and closed weak at
S9Ssc.
Corn was quiet and easy. The receipts
were trif1e i'll excess of the estimate, and
contained 10 cars OF contract. Trade was
Slow and this with the weakness in the
wheat pit and the slackness of the cash de-
Transactions, however. were confined TO
range of SEC, and the close was 1Sc lower
than that of Yesterday.
Oats were dull and easy: the market feat
ureless. Considering the weakness III
wheat, the dullness in corn and the larger
receipts of oats than expected prices held
very well, closing with lie loss.
Hog products ut the opening were little
firmer on the fact that receipts of hogs were
5000 head less than expected. and prices at
the yards ;@l0c higher. But there was little
inquiry and the firmness soon disappeared.
There was some recovery near the end and
the close shows pork unchanged and lard
and ribs &c higher.
Estimated receipts for Monday: Wheat,
173 cars; corn. 205 cars; oats, III cars: hogs,
$1,000 head, and 5000 head for next week.
The leading futures ranged as follows: