St. Paul daily globe., 1892-12-30
DECREASE IN STOCKS.
Bradstreet's Report Acts Like
a Bomb on the Bears
in Wheat.
They Make a Rush to Cover,
and Prices Go Up in
Short Order.
The Clique in Provisions Re-
new the Press sure on
the Shorts.
Northern Pacific Stocks Make
a Good Recovery From
the Low Prices.

CHICAGO, Dec c9.-The report of decrease
IN stocks was the active factor i'll the wheat
market today, and after weak opening
prices rallied fully 1c, closing ct an advance
be per bu. Corn and oats shared i'll the
betlermeEt of the wheat market. The Dull
clique in provisions were buyers today, ana
caused Il scare among shorts, which ma
teIially added to yesterdays values.
Wheat started off very weak. All the con-
diuons seemed bearish; cables were easier.
domestic markets slow; the Cincinnati Price
Currents crop summary reported the winter
wheat fields covered with snow and so well
protected that no apprehension need be felt
on account of the cold weather. There were
apparently literal selling orders on the
market, and the pressure was such that
prices Immediately gave way. On the weak,
ness the realizing was generous, ana Il Soou
deal of long wheat came out
But when the market wGs the weakest
Bradstreers rerort OF the available supply
was posted. showing an unexpected decrease
of 1850 COO bu east of the Rockies and >, III
OC0 bu decrease on both coasts. AS the visl-
BILE supply points showed all increase last
week of J. 500. exc bu, BradstreetS figures In
dieated thGt there must have been decrease
III the points outside Of the official list +
over 350000 bu. This was startling
surprise to the trade, and It's effect
was instantly bullish Sellers made
ed with and there was a season of
activity and considerable excitement. which
sent prices up i'll short order. There was the
usual criticism of Bradstreets figures but
the effect was not much changed by the
doubts sought TO be thrown on the report.
The decrease, il was cloimed, was due TO
shrinkage in the Northwest country elevators
and in private elevators i'll Minneapolis.
Farmers deliveries in the Northwest were
reported small, and it is claimed that the
pVp consist
latious on side tracks, which are cleaning
up. The opening was HG5SSc lower ana,
after rallying 1a@ lac, again declined 1@SSc,
then became stronger and with slight tluctu-
atoms prices were advanced 8Wlc, neld
steady, and the closing was firm.
In corn the feeling at the start was weak,
and there was moderate selling at the open
ing at fractional decline from yesterdays
closing price. and soon sold of ASGGAc; but
at 45c for May there was an urgent demand,
both on local and outside account, and, as
wheat turned up. corn sympathized advanc
ing 9sGI3ic, eased off slightly, and closed
with 4@1SBc gain. According to the Price
Current there is a possibility of esscninS
Of the arrivals in the near future. Brad.
streets figured an increase i'll the visible OF
492. 900 bu.
Oats were quiet and easier early, prices de-
c!ining IS@8c from yesterdays close. due to
the weakness in other grains. Later, when
they rallied, oats followed. The buying I'M
proved and prices for May advanced $86DIac,
and closed steady at nearly the top with
gain of 1B0Ac.
Rather liberal receipts of hogs caused
temporary weakness in provisions early. but
Cudahy and Wright were credited with buy
ing good deal of stuff, and, as they
had been previously supposed to be
taking every opportunity which Of
fered to get rid OF their holdings,
their contrary action today alarmed the
shorts and caused the market to become
stronger as the session progressed. Com
pared with resting prices yesterday pork is
g1I2c higher, lard is up zee and ribs are also
20c dearer
Estimated receipts for tomorrow: Wheat
333 cars; corn, 333 cars; oats, l33 cars; hogs,
@0,G0).
The leading futures ranged as follows: