St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-05-26
Unfavorable Crop Reports
From Home and Abroad
Advance Wheat.
Corn and Oats Displayed Con-
siderably More Strength
Than Wheat.
Wall Street Stock Markets
Strong, With an Advance
ing Tendency.

CHICAGO, May 25.-Booming grain
markets were the rule today. both in re-
spect to volume of business and prices.
Wheat sold up 11(c from the low point
yesterday and &c above the close last
night. Corn and oats were even stronger
than wheat. 1t was a case of see-saW III
hog products.
The bears seemingly began to gu es-
ton the wisdom of crowding their side
of wheat much further, and instead
were disposed to take profits. Cables
came in better than was expected, con-
sidering the weakness here yesterday.
A good many rather unfavorable Ed
ropean crop reports appeared in the
morning papers or were received
through private sources, while the low
temperatures which were reported in
many portions of this country also
helped to create better tone. The
bulls found encouragement in the fact
that with twenty-five cargoes of wheat
off coast today, the Liverpool prices
kept strong and even higher. The Cud-
ahy crowd were notably large buyers.
1t is believed by many that Partridge is
but the sentiment was too strong for 1t
to have much effect. The Cincinnati
Price Current gave favorable report on
crop conditions for the past week and
there was some renewal Of the late
financial disturbances reported for many
quarters. Dakota messages reported
high winds Of few days past blowing
much of seed wheat out of the ground.
This is said to be SO serious in some sec
tiOnS''t that reseeding is necessary. Heavy
realizing marked the last fifteen min.
ntes of the session. The opening was
&c higher to the same as yesterdays
closing figures, and receded- &c below.
then became stronger and prices were
advanced &c, eaSed off tritie and the
closing was about 95c higher for July
and &c higher for September than the
closing figures of yesterday.
Corn started at 15@14c advance,
worked back &c. then, under all urgent
demand, gradually advanced A@Tc,
reacting later on realizing &c, ruled
&c. The fact that the weather was
cooler over the West and lin this vicln-
ity had the effect of hardening values.
The demand for the cash article, said to
be due to the European drought. was
also looked upon as "bullish' factor,
and the reduced stocks formed another.
The Weare Commission company was
the leading buyer.
There was quite furry in oats. due
to shorts covering on reports of good eX-
port buying and bad crop conditions.
The offerings were scant at first and
prices advanced 1M1Ac. This brought
out increased offerings and caused re-
action of 1a994c, and the market closed
easy with net gain of 1000.
There was a drive made at the pro-
vision market as soon as it opened, and
a drop of from 45c to 55c in pork, from
sc to 715c in lard and from Zoe to 15c in
ribs occurred Immediately. There was
and quick recovery of 40c in pork, 10c
In lard and about 15c in ribs. The
heavy receipts of hogs was the rea-
son assigned for the opening decline.
Cudahy's and Wrights buying was the
direct cause of the upward reaction.
and some also ascribed to them the re-
sponslbility of the opening break,
while in other quarters Armour was
alleged to be the cause. There was
only one bullish feature in the Stats
tical situation, but it is important. The
packing III the West for the week
amounted to only 10000 against $685. 900
head for the corresponding time of last
year. After recovering the full extent
of the early decline pork reacted 1Oc
and closed at that much under yes
terday's final quotation. Lard, which
did not decline proportionately with
pork and ribs at the opening, was
quicker to recover, and maintained it's
strength and made gain Of from sc to
nc. Ribs, compared with yesterday,
are re higher.
Freights were firm with fair demand
195011ac for corn to Buffalo. Estimated
receipts for tomorrow: Wheat, $50 cars;
corn. $50 cars; oats, 275 cars; hogs,
10000.
The leading futures ranged as follows: