St. Paul daily globe., 1893-03-27
ADVANCED ONE CENT.
May Wheat Was Strong and
Closed at the Top
Price.
July Took the Opposite
and Closed With a
rs Loss.
Light Receipts for Hogs I'M
part a Firmep Tone to
Provisions.
Wall Street Stock Market Act
, i've and Buoyant, With a
Brisk Demand.

CHICAGO, March 25 - Wheat today was
strong for May and barely steady for July.
While the former closed 1c higher than on
the day before, July closed 1sc lower. The
number of buying orders for May and selling
for July were the great features of the days
business Corn had a sharp break. and at
the close showed Il loss of 12c i'll the May de-
livery and ssc in July. Provisions were
firmer on light receipts of hogs.
The feeling in wheat was rather nervous.
For May delivery prices ruled higher the
opening being about The same as yesterdays
closing and steadily advanced 1c then
receded ssc, but the closing was steady at the
top. July opened about the same as yester-
days closing, receded a4c. held steady and
closed 12c lower than yesterday. The July
delivery sold at from &c to 51Bc discount as
compared with May prices. The reason as
signed for the action of the market was the
covering for May delivery and the selling for
July, i'll which movement some of the one
rators in the Northwest were par
ticularly interested. 1t was claimed
that a number of buying orders were
received for May delivery and that
filing of buying order for 10000 or $4,000 bu
would create Ss@l2c rise i'll prices. Around
7Sc for May there was some little wheat Of
fered, which checked the advance for the
IllQS DelllR. NJ Sly QcdlcTs nave StOppCu
ing in the May future, and it is not so easy 10
execute orders as a week or SO ago. The re-
ceipts continue to keep UP both in the North
west and here, and there was about 80 per
cent of the local arrivals contract grade, rep
resenting largely wheat coming from private
warehouses Export clearances were larger
than they have been of late, while the re-
ceipts at primary markets were less. 1t is
estimated that the visible supply will show
decrease of 250,0 ,0G0 to $4,000 bushels. Crop
nfltrio it.I1n hat VaH nd WI
not having much effect OH the market.
The pressure of cash stuff to make room
for wheat constituted chief element of
weakness in corn, especially as shipping
houses claimed they could not profitably
place the grain. even at considerable re-
late offered by elevator concerns. With the
cash situation unfavorable for holders, few
traders were friendly enough to buy for in
vestments. and the demand was chiefly from
the shorts At one time there was some
thing of a selling off on the part of the oper-
atoIs from the wheat pit, and this. coupled
with the unloading of '"long" stuff, carried
the price down 5s@S4c before there was an
effectual check. The close was within Ac OF
the bottom.
There was liberal trade in oats and low
er range of prices, due to increased offerings
. aud also 10 sympathy with corn. There was
no especiHl support except from scattering
shorts, and prices, after opening at about the
same prices as yesterday, declined 12@0SIc,
rallied slightly, and finally closed easy with Il
net loss of l2c.
- Trade in provisions was very light. After
: the first halfhour of the session there was
scarcely anything doing. Some strength was
developed at the opening on few outside
orders coming in ana several prominent
houses taking the offerings. which were linn
iited The advance was moderate and firm
feeling prevailed, with the tendency upward,
the market gaining to fair extent all round.
There was some covering by the shorts to-
wards the close. Final prices compared
! with last night are 12I2c up for pork, 10c for
lard and &c for ribs.
i Estimated receipts for Monday: Wheat, 1S0
cars; corn, 16O cars; oats, l50 cars; hogs,
10000.
The leading futures ranged as follows: