St. Paul daily globe., 1892-05-25
WHEAT IS HARD HELD.
Chicago Elevator Men Own
Nearly All on Hand, and
Won't Sell.
A Short Interest in the May
Option Causes a Rise in
Premium.
Wheat, Corn, Oats and Pork
All Show Advances in
Quotations.
The DullnesS of a Waiting Pc
riod Settles on New York
Markets.

CHICAGO May "a Umbrellas frighten ed
the shcrts today Wheat and corn tonight,
compared with last evening, are s4c higher,
oats 5Se, and pork l5c. One of the features
of the day was sharp advance i'll the prem
ium for May wheat A considerable short
interest has developed in that month, but
the elevators seem to own nearly all the
wheat, and were not anxious to part with it.
Besides the showers, the best bull item in
wheat was the decrease of the amount on
ocean passage by 1866, 900 bu. The decrease
was due to the hurrying of wheat into France
to escape the increased duties June l. The
opening was ssc up ana prices advanced l2c,
then receded 58c, and in the last ten minutes
shot up 7se, but closed steady lac from the
top. There was rumor that the India ship
ments as reported yesterday were too large
by 1000, 900 bu, and this had a strengthening
effect but later advices confirmed yesterday S
report. 1t appeared that Calcutta had been
omitted from the report last week, and the
high amount was due to the insertion of both
weeks clearanees.
The board of trade figures of the India
shipments were also the same as those given
out Yesterday. Mark Lane Express was
opinion that there will be short crop of
wheat. The advance near the close was on
rush of shorts to cover. The receipts of
wheat here today fell short of the estimate
twenty-five cars, with only 135 for two days.
1t was weather market in corn. Business
was of lighter order than Tor, sevaral days
past, and traders were not attempting more
than scalp on the changes. The receipts
got some attention, being 70 cars over
the estimate of 325 cars. This in
cluded IS cars of contract corn
chiefly from drying machines. Many well
. posted brokers express the belief that what
ever shortage there is will be met by delivery
! in due time. In spite of the heavier receipts
the trade felt bullsh because of local rains.
Later the messages from many sections west
of the Mississippi reported cloudy, threaten
ing weather and some rains. On this outlook
offerings ceased, and prices were bid up at
the same time that wheat advanced. There
was some realizing on the bulge. and best
prices did not hold. There was hut little
done in May. few lots changed hands early
at &c. and later 63c was bid.
The oats market firmed up today with corn
and f1uctuated with that cereal. May, which
was wanted by the shorts, opened on an adj
vance of l2c at 3ll2c, and climbed up steadily
to 3312c, and subsequently declined to 33c.
The steadiness in provisions, in the face Of
a liberal run of live hogs at the yards. was
somewhat of surprise. The development
of strength IN cereals was responsible. There
was no business from outside.
Freights were steady, with fair demand
at lac for wheat and ll2c for corn to Buffalo.
ESTIMATED recel ptS jOr tomorrow: Wneat W
cars; corn. 1875 cars; oats, l40 cars; hogs, 35,-
600.
The details of the agreement between the
telegraph company and the Chicago board
of trade, as to market quotations. have been
finally settles as follows The board of trade
will remain out of the quotation business; it
has been Harmed OUT jointly to the West
ern Union and Postal Telegraph companies.
The attempt to place round cash value on
the quotations was abandoned by the board
of trade. The telegraph companies will or
ganize a quotation bureau, will employ their
free. simply collecting and sending them
under certain limited control by The board of
trade. ~
The leading futures ranged es follows.