St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-02-26
NERVOUS AND LOWER
A Generally Strong Feeling
in Chicago, but Slight Re-
/! auctions.
Bull News OF Wednesday In
duced Shorts to Attempt
to Cover.
Heavy Selling Got in the Way
Of Several Possible Ad-
vanceS.
Prices We're Not Influenced
Either Way by Trading
on Wall Street.

CHICAGO, Feb 25-While there was not
much animation i'll the wheat market today,
the general feeling was oife of strength. The
early cable TO the board from Liverpool
quoted that market as higher, but private
dispatches said that it was weak. There was,
however, rather good local buying and
though the offerings were more generous
than yesterday, they were very readily alb
sorbed, and the feeling for time was quite
strong and higher prices ruled Some of the
bull news which came in yesterday seemed
to be having more effect than it did then.
This was especially the case with Beer
shipments to Europe for the past eleven
weeks were nearly $4,000. 900 blu below the es-
timated requirements for the same time: this
ed to the reflection that it would not take
long at that rate to exhaust all the surplus
and bring Eurore into the market as an &C
tive buyer. In addition to this was the sum-
mary of crop conditions abroad, sent out by
high English authorities. showing that poor
outlook was the rule, with favorable reports
the exception. Then there was the reported
active inquiry for cash wheat, the steady de-
crease in the visible supply, the moderate re-
ceipts at primary points ana the reports Of
coming cold wave,
Gall of these combined to make the market
rather nervous, and shorts were generally
disposed to cover. Logan, Kenneth Hopkins
and Milmine- Bodman bought some wheat
early. bat on the hard spots. Schwartz-Dupee
and Parorldge had plenty for sale. At one
time there was a considerable bulge when
private cables. quoted prices &c higher, with
Berlin also advanced. 1t was also helped
some by dispatch from Washington saving
that the senate committee would probably
report against the anti-option bill. Later,
however, trade became dull. Cables were
less assuring, and the selling more liberal,
and prices fell off a cent from top figures.
In the afternoon, however, the market
strengthened materially. but the advance
was met by heavy selling and the price
dropped again. There was some talk about
France extending the period of reduced duty
on wheat, because of the unfavorable out
look for the crop, and this had strengthen
ing effect during part of the session. While
Partridge, sold freely on the rally, he COW
cred his lines on the breaks. May wheat
opened unchanged at CSC. advanced to 934c,
reacted to 92s4c advanced TO 9384c, broke to
92s4c, rallied to 93c, dropped to 92asc and
closed steady at 92l2c.
Corn was stronger and more active in the
early trading, one house taking 25.00J BUSH
els. The strength was due to light receipts
poor grading, an active and higher shipping
demand. firm cables, damp weather, tending
to low the grade, and reports that foreigners
were buying freely at the seaboard. These
things led to covering by shorts and an ad-
vance. This was met by free realizing sales
and wheat turning weak, there was reaction.
May opened 1sc higher at 425sc, advanced to
42a4c. then broke to and closed st. ady at
42Ac. Oats were dull and without feature,
closing with loss of lsc.
The receipts of hogs were lighter than had
been estimated, with prices 10c up. This
toge Their with the early strength in grains,
caused pork to open higher, but later when
grains weakened and further decline in
cotton was reported, presaging diminished
demand for hog products from the South.
the price broke and the market closed lower
May pork. after selling at S115C@11.S5 around
al Sl1.5214, against SILT at the finish yester-
day.-Eard lost sc and ribs fl2c.
Estimated receipts for tomorrow: Wheat,
l57 cars; corn, $50 cars; OATS 100 cars; hogs
10000 head. 4,
The leading futures ranged as follows:
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