St. Paul daily globe., 1893-02-06
HELPED BY WEATHER,
Ice-Coated Fields Partly
Overcome the Anti-Option
Adverse Influence.
Wheat, Corn and Oats Make
Advances During the
Session.
Sealpers Worried by the
Course Of the ProvisionH
Market.
After Many Fluctuations
Pork Closed With a
Slight Loss.

CHICAGO, Feb. 4.-The grain markets
were tirmer, and provisions for the most
part weaker today. Compared with
and corn and oats sc higher. Pork
and ribs are each l5c lower, and lard is
219c higher.
The anti-option bill, which may pass
the house next Monday, and the vast
amount of wheat in the visible supply
were the two influences against the
wheat market this morning. Every
thing else was bullish. The cold
weather and the ice-covered fields.
which reports from the country referred
to, caused the wheat market to open
strong at about yesterdays closing
prices. For May 775sc was bid, and
after selling at 7Sc it made a slight fur
ther advance to 7S15c. In the same
time July, which opened at 7719c, rose
to 7734c. The receipts in the North west
were again very light, and that WAS con-
sidered an additional reason for firm
ness, although it was very we'll known
that the falling Off in the receipts at
Minneapolis and Duluth was in great
measure due to the inclement weather
Minneapolis reported receipts of only
81 cars, and Duluth got none.
The bulls also had the weather for a
help-Zero weather over Southern Illi-
nois and sections of the Southwest,
where ram fell three days ago and ice
fOunu on bare fields. went far toward a
crop scare, whether real or imaginary,
Nj f,,lt
all day. There was, early in the day.
quiet taking of wheat by strong houses
under lead of Mlmine, Eggleston, Ged-
des and Lamsons. There was little
outside buying on the theory that the
ice formation is injuring wheat fields.
Outside business was not one-tenth
what it would be but for the fear of the
anti-option legislation. The conditions
which gave wheat less than 1c recovery
from the low point up to midday would
otherwise have started bull market
and an advance of 2(03c. May wheat
opened as it closed Friday, at 777s(07Sc,
sold at 7755c and up to 7S1lc early, with
another 15c gain to 1890 later in the day.
July ruled &c under the May price.
There was some realizing in wheat the
last hour, and May closed at 7S14c and
July at 77$40U5Sc.
The corn market was dull but firm,
and the prices at the close showed 4
gain of &c since yesterday. The range
for the day was only &c, and closing
quotations midway of the extremes of
the fluctuations. The strength in wheat
helped the buying in corn. The exports
were l55. 200 Du for the day, and these
and firm cables helped the price. An
official estimate of Russian crops makes
the totals much lighter than the Novem-
Der estimate. This helped the market
on the buying side. Yet there was an
improvement of but &c in the price.
May corn opened at 4715c and gained
gradually to 4T$4c. Corn closed at 4135
for May and July, with a featureess
market.
Oats, although quiet ruled firm
er with corn, May opening at 3435c.
Business in that option was fairly act
i've at the opening, which was the low
est for the day. Later it sold up to
3455c, where it was half an hour be
fore the close. The shippers and out
siders were the principal buyers. The
market closed steady at 3434c, or sc
above Fridays closing figures.
The provision market worried the
scalpers. With very light stocks and
very light movement of hogs the situa-
simply a question of whether prices are
at too high point to make it safe to
own the stuff on contracts. Mr.. Wright,
who has made such big mOneyon prod
ucts inside of six months, is letting the
market alone. Steever and many
others are doing the same thing.
They fear drop. Fairbank is,
of course, back of lard in safe way.
His brokers give the price twist
whenever they feel like it. Shorts have
Jared badly in all products of late. The
noisy element in the trade did the buy
ing of pork today. Conservative opera
tors were not buying or selling. May
pork sold at S19.75, to S19.25. to S19.6715.
to S19.45, to S19.65 at 10 o'clock. Lard
was at S11.75 at the opening and sold
off to $1l.6219 and up to S11.7212. Ribs
sold at s1O.25 and off to SlO.1O. At the
close lard was strong at $11.70 for May,
while pork and ribs were 15c under last
night at S.57115 and sl0.10 respectivel y.
Estimated receipts for Monday:
Wheat, 165 cars; corn, 24O cars; oats,
95 cars; hogs, $4,000 head, and 115, 900
for next week.
The leading futures ranged as follows: