St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-04-07
GOOD DAY FOR BULLS.
Wheat Recovered Early Loss
and Was Well Supported
All Through.
Despite Bad Foreign Reports
Domestic Markets Were
Strong. d4e
Is1
There Was Good Demand for
Cash Wheat and Shorts
Covered.
The Whole List Is Active and
Higher on Stock Exchange
at New York. a9

CHICAGO. April 6.-Spanish matadors. to
say nothing of plain American sealpers.
would have stood no show today with the
bulls on change. Wheat recovered nearly &c
from an early dip, and closed with good sup
port. Tonight all the leading articles on the
list, as well as wheat. exhibited frmness.
The wheat market started weak and little
lower under the influence Of lower cables
and very flattering report on growing wheat
from Secretary Mohler, OF the Kansas bureau.
The Kansas report gave the acreage 4,000
short of last year, with condition improved
from 75c. according to Dodge in December,
to S5c by the present state estimate.
The foreign news was if anthing more bear
ish than heretofore, as Liverpool was quoted
lower. Paris weak, and other continental
markets heavy, with the weather abroad
favorable But domestic markets all seemed
to show q good deal of confident strength,
Notwithstanding the crop situation continues
favorable. Bradstreet's showed decrease
of 1,340 600 bushels in the available supply
OH both cereals, but in view of the large de-
crease reported last week in the private Gle
vators IN the vest, 600 bushels
and the $50, 100 bushels decrease III the pub
lished visible, the report is somewhat dlsap-
pointing.
Perhaps the strongest feature in the mar
ket-and, as many thought the only strong
one-was the good demand which existed for
cash wheat, including NO spring, for
which there was ready sale at May price.
As the market began to show its strength the
covering of short wheat became quite Disk
and helped materially to promote strength.
May opened at about 1sl2c. sold at 1Sl2@
1880. split. then up gradually to SOAc, aid at
IL O'Clock was about sec. After the noon
hour the market became weak on the free
selling caused by the advance: the demand
also fell off and most of the shorts seemed
to have been run in on the early bulge.
Late cables were little perplexing, Liver
pool being stronger and Berlin higher, with
London and Paris both lower. May, after
selling up TO SdAc, broke gradually to 1850,
at which price il held steady and closed.
Undoubtedly the main reason for the ad-
vance was the demand for cash wheat for
shipment. One firm worked 10000 bu aid
another l50,0U0 bu; that much is known, but
rumor swelled the quantity to great deal
more, and 7. ID. Armour was reported TO nave
said that he could have sold 1,00O.9 900 blu reg
uiar No. at MAY price. He may have made
no such remark, but it is fact that many
were offered May contracts today in ex-
change for cash wheat, and bat few re-
Sponded. There was good inquiry for YES
sci room to load wheat and corn, but little
business was done shippers trying to get the
rate of 2S4c on wheat and 2l9c on corn TO
Buffalo shaded, while vessel owners refused
to bulge.
There was a rustic in the corn pit during
the first and last five minutes of the session,
but with quietness in between. 1t is said that
unquestionablv large short interest exists,
and i'll view of the firmness i'll wheat. and
the rumors OF manipulation there was con-
siderable disposition to cover. May opened
lSc higher at 39l2c but improved gradually
and steadily TO 4GsSc, and at II O'Clock was
about 40Ac. The closing was at 49lsc sellers
Oats were traded IN literally and prices
ranged higher early. but later weakened and
the close was steady, with prices at slight
advance over Mondays close. The strength
came mainly from wheat and corn.
Hog products were generally weaker on the
liberal receipts of live hogs and the lower
prices at the yards The selling was free but
the subsequentimproyementi in grain ehecked.
the downward movement! Ryan was good
buyer of pork and the Anglo-Amenean sold
lard. r-t2tfts 49,
The estimated receipts for tomorrow are:
105 cars of wheat, 270 cars of corn, l25 cars Of
oats and 24,C00 hogs.
The leading futures ranged as follows: