St. Paul daily globe., 1892-05-04
Light Offerings and Ready
Absorption Hardened Chi
cago Markets.
Northwestern Weather Con-
ditions Set Operators to
s Figuring Closely.
Covering by the Crowd OF
Shorts Helped to Sus-
tain Strength.
General Apathy Still Prevails
on Few York Stock
Exchange.

CHICAGO May 3.-Wheat opened rather
tame this morning, but with prices shade
better, and for q considerable time there was
but little business and very little change i'll
values. Cables showed dullness and steadi-
ness abroad, and domestic markets, while ap-
parenty firm, were not showing much
strength. The amount of wheat and -four on
ocean passage was reported to have increased
g92 900 bushels, and the shipments last week
from all parts of the world to Europe were
reported at 6.600000 bushels, or nearly mill
ion bushels more than the week previous and
considerably i'll excess of the estimated re-
quirements.
This news and the narrowness and the dull
ness of trade kept the market from showing
any particular strength during the first hour.
But it was soon noticed that the offerings
were exceedingly light and that they were
readily absorbed, and the market began to
harden. Then talk drfted into the serious
weather conditions in the Northwest, where
it was still said to be raining in many local
tiles and freezing in others. with but a frac
ton of the crop yet in the ground. Figuring
began to be made on a decrease in area of
80 0,000 acres and shortage of sc, ,000,G00 bu
in the next crop.
The crowd seemed TO be largely short, and
this sort of news set them to covering. and
advance of about 7sc. but il was accomplished
with little or no excitement or effect, and
when once gained the advance was we'll held
for most of the session.
May opened lSc higher at S0lSc and ad-
vanced TO 81 lSc; July started with the same
appreciation at S14sc and sold up 10 S0l2c.
Toward the close there was some realizing on
the advance, accompanied by recession to
S0S4c for May and Si15c for July, at which
the market closed sfrm.
Corn showed a good deal of strength and
prices was decidedly higher The bad
weather, chiefly the excessive rains in the
corn region, caused some apprehension as to
the planting and also some fear as to the
effect ON receipts, and there was good sDecu-
lative buying as well as sharp covering by
shorts. The tirmness continued till near the
end of the session when, as in wheat there
was some reaction. May opened Ssc higher
at al1Sc, touched 4lc, momentarilv, ad-
vanced to 42ssc. and closed at 42ssc; July
shows gain of lc.
Oats were firm, Influenced by the same
reasons which affected the prices of corn and
wheat and closed with a net gain of s809Bc.
Hog products were i'll more active demand
and higher The receipts OF hogs were 10000
head under the estimate, and the firmness i'll
other pits influenced hog products some
There WAS some talk of deal in ribs with
good buying. Ryan being the chief purchaser.
Pork opened DC higher at S9.62% for July, ad-
vanced to SD.65l9 weakened to S0.5fl2 on
selling by packers, after which free bidding
and light offering caused the price TO shoot
up to S9.7712, but the market weakened
toward the close and closed easy at 50. 72l2
an advance OF 15c compared with yesterdays
last prices. Lard and ribs followed the iuc-
tuations in pork to good degree.
M Estimated receipts for tomorrow: Wheat
a5 cars; corn, 154 cars; oats, 176 cars; hogs
q. 900 head
lar The leading futures ranged as follows: