St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-01-12
A TUMBLE IN WHEAT.
Snow in the Winter Wheat
Belt Was the Depressing
Factor,
Aided by BeariSh News and
Rather Plentiful Selling 3
Orders.
The Drop in Wheat Leaves It
One and a Half Cents
Lower.
A Reactionary Temper in New
York, but insignificant
Changes.

CHICAGO, Jan. 11-Wheat took another
tumble in price today, CLOSING 1B2c lower
than ii left off on Saturday. The chief factor
in the depression was the snowfall which
was reported as covering practically the en-
tire winter wheat belt, and which dissipated
the growing fears for the effect of the cold
weather on the plant, which had already been
tried rather severely by alternate freezlng
and thawing.
Most of the other news was also oearlSh.
Cables were lower; domestic markets were
all easy and receipts from the Northwest
comparatively liberal The boards Liver
pool catle quoted spot wheat unchanged,
bat futures from l2d 10 Id cheaper. Private
cablegrams quoted the feeling i'll that market
dull, with a dropping tendency. Mail adj
vices from abroad were discouraglng 10 the
bulls, the general tone OF foreign letters be-
ing one of satisfaction with tine present pros
pect of supplies for the remainder OF the
crop year.
The selling orders we're quite plentiful.
but as shorts showed rather general dispo-
sition to cover on the break the market has
had, the offerings were quickly absorbed, and
the break was not very serious fora cons!d-
cradle lime after the opening. The price OF
May was about 92lac but settled finally
around 02Ac. There were sales in the course
of very limited extent Pardndge during the
above time was scalping for elghlns ana SIX
teenthS. There was no tendency 10 improve
ment until after a dispatch had been re.
ceived reporting that Russia had prohlblteu
exports of wheat from Finland. Following
this some covering of shorts put The price
up to 9c6sc.
About noon Beerbohm's second cable came
to hand, and, as II Quoted futures at On Liver
pool from s.d 10 Cd lower and Paris 20 cen
times lower, the advance last noted was
quickly lost, and the price OF May receded
TO still lower level than had previously
been reached. The fact that the visible sup
ply showed decrease was MADE known
about the same time but it failed 10 rally the
market and, under liberal selling, 1t cont1n-
ued TO go off in price until 1t touched 9issc
near the close, aud closed steady at ell2c
There was fair amount OF speculative
business done in corn, and prices were
steady. In the cash market, however; there
was considerable weakness and decline OF
lie in the price Of through-billed. Very little
was offered to go to store. The receipts were
200 cars not one of which was OF the CON
tract grade. There was good demand for
export reported from New York thlrty-two
boat loads being advised AS having been
worked there early in the day ana saturdays
clearances were given as 533.4O3 blu from the
four principal Atlantic ports and cables,
were stronger The close was at medium
figures and a shade better than Saturday for
near by options, but little lower for May.
The trade in oats was light and the market
did little more than sympathize with wheat
May continued to monoponze the attention
of traders to the almost total exclusion OF
everything else. The market shows loss OF
&c in the value of that future.
Hog products were quiet and easier. The
receipts at the yards were 60,000, or 10000
more :han estimated Saturday, and prices
were 5010c lower. The weakness in wheat
was felt sympathetically. Estimates of re-
ceipts for tomorrow. 23S cars; corn, go cars;
oats, 245 ears; hogs. s. 900 head.