St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-02-06
BULLS GET A CHANCE.
Sentiment in the Wheat Pit
at Chicago Takes a Ris-
esi s. ing Turn.
Marked Advance in Prices as
s, a Result of the Ballish
- Feeling.
Over Two Cents Gained by the
Law -. :.
Leading Cereal, Others
failing on.
pc
Bears Outgeneraled On Wall
Street and Advances in
Active Stocks.

h CHICAGO, Feb. The feeling on change
/ today in regard to wheat was more decidedly
bulllsh than it has been for long time past
ana marked advance in prices was record
ed. "A sentiment seems to be growing among
operators in the trading pit that after a
snrinkage of about SOC per bushel in values
since the high prices were made as the result
OF the European crop shortage, there is small
ground to expect further marked decline
ana that the time has about come for an up
ward movement. This sentiment was fos-
tered by the bullish character Of the days
news
Cables indicated advances at nearly all
points. Liverpool was I2d higher London,
which has been very bearish of late on car
goes to arrive, showing declines OF 1
shilling to Is Sd yesterday, was better today
at unchanged prices; reports from India in
regard to the crop to be harvested next
month, said it would fall short Of last years
crop about Is per cent, or an estimated aggre-
gate OF 3S.000.000 bushels; private advices
told of hard frosts in France, with British
prospects threatening and sharp advance
IN Paris, as a consequence the decreased
acreage of winter wheat in Great Britain,
owing to bad weather, though unnoticed
during the late depression, was quoted as
cause for an advance in prices;, thhere were
SASo VI ICpOlto III re-
gard to the winter wheat crop in Kansas and
elsewhere; foreigners were reported to be
good buyers at the seaboard interior receipts
continued moderate; Minneapolis wired that
$4,000 Blu more had been taken there for ex
port while the clearances from the seaboard
yesterday were 625. 600 bu in wheat aud flour;
IN fact everything tended to higher prices.
The result was that there was not only good
investment buying, but free covering by
shorts, who felt their positions endangered
hoC fnf fhnrr dos OF fhn
best terms obtainable, and while there was
yet a margin of profit. Partridge. however.
was notable exception to the rule. He was
generousSeller throughout nearly the entire
session, and showed no disposition to cover,
though his short line is thought to be very
heavy. He is quoted as fixing S5c as the
point at which he will be ready to
turn turn bull. Aside from his offerings;
and the market absorbed it all very readily
without perceptible weakness. Schwartz
Dupee led the buying but Logan, Milmine-
Bodnan. Mitchell. Dunn. Linn and Brosseau
bought very freely. Later McDougall, Bros
seau and some others took profits.
May opened unchanged to lac higher at
s9A@S9lac, advanced TO SSssc. reacted to
s9asc, and sold steadily up to 90l2c before
ment continued to grow and was helped
along by the stronger closing cables. Some
shorts who had courageously held out against
Gus. Harry Lester had big buying orders,
and it was soon rumored that they were for
Kaufman. the big st. Louis bear, and that
he was covering his short line. This added
2 TO the short scare, aud there was all excited
scramble to buy in. Under the demand, May
advanced, with enc or two reactions, TO 91Ac,
|, and closed firm at9l55c.. ..-.7i7.f
Corn continued to show much strength.
| Cables were higher, the shipping demand
good and the exports generous. Shorts show
an increasing nervousness and more disposi-
ton to cover. while the offerings were light.
This continued throughout the session and
: the close was at the highest figures of the
day and at net advance of 101lsc over the
closing prices of yesterday Local receipts
were about as expected, 2f3 cars, and in
cluded IL cars Of the contract grade. The
strength in wheat was also SYM athetically
felt in the corn pit. The advance was con-
tinuous, without material reaction during the
session. sAd
Oats were quiet bat firm. and advances
A@lzc.
Hog products were irmer, closed with
small advances, though slightly under the
best figures of the session. Receipts of live
hogs were 2,00e head below the estimate and
prices at the yards were trifle higher.
Estimated receipts for tomorrow: Wheat,
125 cars; corn, 225 cars; OATS rs cars; hogs,
$1,000.
The leading futures range as follows:
ARTICLES. Ing. est. est. ing.