St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-04-05
AN0VELTY0N' CHANGE
The Grain Market Was Bull
ish, Owing Entirely to
Reports.
Professional Spectators Be-.
gan on the Bear Side, but
Flopped Later.
All Articles Except Pork Are
Fractionally Improved in
Price.
Activity the Rule on New
York Stock Exchange,
Advancing.

CHICAGO, April 4-There was O decided
novelty in Chicago today-a bulls h grain
market. Adyices of a coming blizzard, the
reported opening of the Straits of Mackinaw
TO navigation, falling off of 1740030 bu in
the worlds wheat and flour ship ments last
week, and an increase of 10000 BIZ in coun-
try elevator stock Northwest were among the
causes. Local light professional spectators
were quite bearish al the start, but were gen.
orally found on the buying side at the close.
New FORK. st. Louis, the North west and a
strong class of local people led the buying.
Their plan was to buy freely on every weak
spot, sell moderately on balges and play the
bull side at all times In this way the re-
actions were SO insignificant that early sell
ers at 10 time had chance to cover with
out pocketlng a loss. Partridge fought the
market up to q certain point, w1en he
stopped selling. The market sold off fully
lac from Saturdays close. but the loSs was
more than recovered.
The early news was not very influential,
and volume of business was comparatively
light Cables were quoted heavy and lower
Liverpool showing Ice decline aud private
advces SAID that Paris was w franc lower
while all domestic markets were weak. The
weather was warm and showery anu favor
able for the winter wheat and the news con-
corning the prospects Of the antl-option bill
Ill congress was not reassurlng: Exports
from India were reported ut I6o,oJ0 bu for
the last week against 736,e00 bu for the
previous week, and foreigners were doing
but little at the seaboard.
When, shortly before II o'clock, the May
option had got down to 777s" the began a
gradual hardening rpocess. First came
rumor that the straits were open, then mes
sage All this tended to make weak
market, and holders were disposed 10 sell
freely. While q sale or SO was reported at
7Sl2c at the opening. there were other sales
at the same time in different parts of the pit
at 7Sc to 7S4c, and III a short time touched
7I7Sc. But the decline started some good
buying, led by Pardridge, Schwartz Dupee,
Congdon and others, and the market began to
harden.
A rumor that @, 100 bu of cash wheat had
been taken at Minneapolis, and the visible
showing decrease of 257G 600 bu increased
the strength. Later the worlds shipments
were reported at I, 4Gl, 900 bu-or 100000 less
than last week-and decrease in country
elevators in the Northwest during the last
week of over l,50l000 bu. gave the market
more strength, shorts covering freely, and
seal pers bought for a turn on the bull side.
resulting in Il steady advance to 29c eased
off some and at IL o'clock was about T'7Sc.
During the last hour Prime reported that
wheat is not growing as vigorously as the
weather would indicate that il should. and is
apparently lacking vitality. May responded
with an advance to 79Ac, followed by a re-
ported that 10000 bu of cash wheat, mostly
hard. was sold here today at 21ac over the
price of May and that 10000 blu of the ofdi
nary grade Chicago No. hard had been eS
changed on even terms for Nav. California
sent in some buying orders here today. and
New York parties were credited with fair
purchases.
Business in the corn pitwas of the slimmest
proportions, but The feeling was firm and
prices wound up with a slight Improvement
Fluctuations were confined TO a range of Csc.
Some corn that was bought Saturday by
prominent local house was sold ont at n
small margin OF profit. The moist and warm
weather in the West was prominent factor.
Operators contended that it means further
poor grading and perhaps decreased deliver
les from first haifds. 72ir
Oats were traded in literally, the deferred
months securing more attention. Prices ad-
vanced 4Dl2c, closing at almost outside
figures. L
Stagnation was the rule in the provision
pit The market was easier on liberal re-
CENTS of hogs and 10c lower prices Mt the
yards. Compared with las. night May pork
is off l2l2e, lard sc and ribs 1lac.
Tomorrow being legal holiday. there will
be no session of the board of trade. The es
timated receipts for tomorrow are: Eighty
cars of wheat. $50 cars OF corn, $50 cars Of
oats and 5000 hogs.
The leading futures ranged as follows: