St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-05-16
LIVELY TIMES IN CORN
Are Looked Forward to by
Traders Operating on
Chicago Change.
The Wheat Men Are Transfer
ring Their Energies to
the Corn Pit.
u
May Corn Gained a Fraction,
While Everything Else
- Is Lower.
A Renewal Of Bear Raids In
dueed Depression at
New York.

CHICAGO. May 14-With eyes glued on the
barometer was the way grain traders did bus
mess today Many stations IN North Dakota
reported the weather greatly improved, and
seeding very generally resumed There was
a growing feeling that the danger point
in seeding had not been reached, and that II
it can be finished i'll the next week or ten
DAYS there will be little cause for alarm.
The spread between May and July 10 1e
was again feature, and perhaps an encOur-
aging sign for the bulls This evening, how
ever, wheat compared with last night was
7sc lower. May corn is up l2e, while july
shows Ssc decline. Oats are down Ac, PORK
Ice, lard 7l2c and ribs sc.
Unusual interest was shown in the corn
pit. and that lively times are looked forward
10 Is evident from its crowded appearance.
Many of the wheat traders have transferred
the scene of their operations from wheat to
corn The market was momentarily very
strong at the opening, eased off on free sell
ing py local shorts, but tirmed up again on
the continued bad weather reports received
from the country. Primes report was that
practically no planting had been done,
whereas a year ago 20 per cent OF the corn
was in the ground at the corresponding dale.
There was a more active demand here for
cash corn, No and No. 3 yellow bringing
about all average Of S4c more today than on
Yesterday. An elevator concern holding
about 20 1000 bushels of corn i'll cribs among
their fOrty-fOur country stations reported
that on putting their shelters 10 work they
found much of the cTibbed stuff moldy and
damp. Country correspondents of board OF
trade fins inundated the latter messages,
deplOIing the poor prospects for getting the
corn planted i'll any reasonable lime TO in
sure a crop. The local crowd would rather
De against the market and the hrst break in
The price today was due TO their vigorous
selling. The latter break was due 10 the
same cause. in addition to the later weakness
of the wheat market.
The opening was rather wild: for frac-
ton of a second 44l2c was being paid for July,
against 44Ac last night. In less than the re-
naming moiety of the first second IL was be
ing offered at from 44c to 44Isc. 1t declined
TO 4534c sellers before reacting. 1t gradually
recovered and near the middle of the session
was in good demand for n time at 444c, but
sold off TO SAC, and closed at 457sc.
There was q lack of outside orders in the
wheat crop. and ChicagoanS, too, were shy
about bucking heavily. The opening was at
1sc decline, with further weakening of 1s
@4c, influenced by the reported clearing
weather and the smaller export clearances
for the week. q reaction Of I2c followed,
but sudden local sunshine melted away the
Zee gain, and the market closed steady within
Sc of the bottom.
The state of the weather enabled the bulls
10 keep prices steady on oats, although there
was no little liquidation of small lots. There
was considerable buying OF May and selling
of July at prices that were the same for both
months.
A disposition by the longs to unload caused
provisions TO fall. Pork ard ribs were more
active than for some time. Heavy receipts of
hogs and liberal estimated receipts for the
coming week, as well as the break ill grain.
helped the slump.
Freights were steady with fair demand
ard not q great deal of vessel room offered.
Charters to Buffalo were on The basis of &c
for wheat and lac for corn, and to Port
Huron ut lac for oats. The estimated re-
ceipts for Monday are: Is cars of wheat; 1875
ears of corn; 100 cars of oats and 5000 hogs.
The estimated receipts of hogs for the entire
week are 900 head
The leading futures ranged as follows: