St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-04-04
COMMERCIAL REVIEW,

CHICAGO, April 2-If board of trade mer
were in any degree as faint-hearted as they
seemed today. few of them would ever ge
married. The trade in every pit faltered al
most from start to finish and tonight com
pared with last evening, wheat is off lac
corn s4c and pork 15c. The strength which
characterized the wheat market yesterday
nearly all evaporated during the night and
hardly flavor of it was lett. The sharp ad
vance made yesterday was not easily ex
| planned by anything that had developed IN
the situation, and the trade seemed to feel
| that it was good place to sell on.
So when the cables this morning showed
| that there was no response abroad to advance
here, but. on the contrary, the feeling was
| weaker, whatever bulls there were lost conf
| dence. The failure of the expected cold
| wave to materialize was also disappolnt-
ment, and all crop advices. including Prime S
report. were quite bearish. showing good
outlook for the crop. Bradstreets report of
the weeks exports also had weakening
effect, as it showed only 1857 900 bu of wheat
and -four cleared from both coasts during the
week, 2,S14,0O0 blu for the week previous, and
2,164, 900 bu for the corresponding week last
year
The result of this aggregation OF bearish
factors was to give the market weak start
and finally SEND the market off over cen
from yesterdays close. The weakness
started free selling by those who had Dougnt
on the upturn yesterday and also developed
good deal of short selling. There was not
much demand as the great bulk of the shorts
had been driven in yesterday, and the buying
was largely confined to those who had sold
Oh the bulge the day before and covered on
today's break. Outside markets were SLOW
wit 6ppllnpS Pc
ported.
and others. but on the subsequent break ne
covered q large lot, including most OF that
79Ac, fell gradually to 7SAc, reacted 10 79c,
and at L. o'clock was 78s4c. There was some
close figuring the last hour. Before O'Clock
the market had rally to 79lsc for May.
This was on the better closing cables, giving
Berlin one mark up. Paris 10 to 81 up on
wheat and -four Talk of decrease OF 1000
10 500, 600 bu in the visible supply for Monday
also helped the Ease bulge There was sale
of So COO bu No. red wheat at sc over May,
and rumors of round lot of zoe, QUO TO 100000
bu No spring at 1l2c premium. But hold
ers were cautious, and sold out before the
close, putting the May to the low point OF the
day at ?6Ss@7Sl2c.
Attention is being directed to the very
small receipts now coming to hand at the
winter wheot markets. Bad roads. dissatis-
faction with the price and the usual farmers
policy of making sure of another crop be-
fore selling all their previous years stock
have been advanced as reasons which suiil-
GENTLY account for the small deliveries. But
it is argued that there may he another and a
more important reason which lies behind
those more obvious infiuences-the farmers
may not have the wheat.
The combined receipts at Toledo, st. Louis
and Detroit yesterday were under 56,O0O bu.
compared with e., 800 blu on the correspond
ing day of last year, and the total aggre-
gate amounted to 2l2,1I7 bu, compare
with $500 blu on the corresponding
aggregate receipts this week at the three
named amounted to 212, liz bu, compared
with 1.6S7 bu for the similar period year
ago. A letter received here today said to be
from high authority, remarks that the wheat
in farmers hands in the state Of Illinois is
not to exceed 12l2 per cent of their last years
crop.
The stocks at Duluth are expected to show
an increase for the week OF !, 1O0, coo blu. Chi
cago stocks are expected to have increased
100000 bu. The visible supply, according to
current estimates, should show decrease of
about $50, 0U0 blu. Partridge was large buy
er of wheat today, covering his sales on yes
terdays bulge.
did not include single car of contract, but
the weakness in wheat had a depressing eff
feet and it was also rumOred that the clique
was selling a good deal of corn through
Schwartz-Dupee. Baldwin Farnum and other
houses. and there was drop of nearly |
cent May opened lsc lower at 4Glac, ard :
went off steadily to 39Mc, reacted some, and
at ~ o'clock was 395Sc. 1t reached 39s4c
during the closing hour, but quit with sellers
at 39I2c.
A light scalplng trade was carried on in
oats. The weather and the condition of the
other markets were the only influences Of
consequence.
There was disappointment in the provision
trade because The stocks did not show as
much decrease as many had been looking
for. That and the depression in grain cir s
cles were the reasons assigned for the heavi-
ness. The best prices of the day were made
at the start and very little recovery from the
lowest prices prevailed at the close.
The leading futures ranged as follows: