St. Paul daily globe., 1893-01-28
CORN WAS MONARCH.
While Trying to Cover the
Shorts Find None for
Sale.
The Close Was Strong With a
Clear Gain OF One
Cent.
Small Receipts of Hogs Pat
Provisions to the Top
Notch.
Shorts in Sugar Find Them
selves in a Ticklish P0-
sition.

CHICAGO, Jan. 27.-Corn was king
1oday. 1t closed exactly cent bushel
higher than last night. The advance
was due to the discovery that there was
no corn for sale. There was much talk
of Deacon" S. Y. White taking hand
on the bull side. Taking heart at the
example of corn, wheat tried a flight
upon its own account and closed sc
higher. Oats gained sc, and provisions
broke the previous highest price record
of the season.
Corn had a weak opening, which was
succeeded after about an hours contln-
uance by considerable nervous strength.
The feeling of weakness at the start
was largely in consequence of the early
declining tendency in wheat, and the
change from that to the strength it sub
sequently displayed was an Independent
move on the part Of corn. There were
plenty Of sellers early, and they pressed
their offerings with an apparent deter
minatlOn to break the price of May corn
below 47c. From 4744c at the open
ing. the price worked off sc and
went no lower. There were numerous
orders on hand TO buy at the latter
price, and not many of them could be
filled. The offerings dried up all at
Dnce and the bias increased, and when
an advance to 1850 occurred those
who sold calls yesterday became
alarmed. and on their buying to protect
themselves there was a quick advance
TO 415s W477sc. July rose in the same
time from 41$5@4Sc.
There was lively scene in the pit in
the last halt-hour of the session. Prices
rose to 4715c, then 4Sc, and finally, amid
great noise, it reached 4S14c for both
May and July, and closed at that. The
near deliveries were wanted, but there
was a remarkable deficiency of offer
ings. A party who has sold freely all
the week was said 10 have covered
good portion Of the same,
which also added strength to the
situation. Outside markets were
reported firm. Cash in New York was
strued by many as a very "bullish,"
factor The strength displayed in the
provision market also made the advance
more easy. Initial transactions were at
yesterday S final figures, but on urgent
demand advanced, with little reactions,
34c, re3eded lsW4c, but advanced 550
&c and closet with gain of 1014c.
Wheat was featureless until Just near
the close, when a little more life was
displayed. Early in the session an easy
feeling prevailed. and prices receded
14@3Sc, then became stronger and adj
Vanced &c, ruled steady, and the closing
was about 3sc higher than yesterday.
There were no new influences brought
10 bear upon the market, and the firm
ness in corn and provisions was the only
reason given for the steady feeling.
In oats there was moderate trade
and a tirmer feeling, due to sympathy
with the advance in corn and the mod
crate offerings. The market opened
rather easy ana prices receded &c, then
rallied sc and closed strong AT about
the top, with a net gain Of 14038c.
Only 1900 hogs at the yards and
prices 15c higher was sufficient tip for
the provision men to beware of selling
anything short and started the advance
in the product which occurred today,
aided by little g0ading at critical mo-
ments. Sam DHnham was in the pit
buying stuff aC such times. NIB. Ream's
name was again freely mentioned as
supporter in prices of pork and lard.
The close was about at top prices, with
Il gain of 9211 &c for pork, SOC Tor lard and
poe for ribs.
Estimated receipts for tomorrow:
Wheat, 800 cars; corn, 257 cars; oats,
1SS cars; hogs, ll,000.
The leading futures ranged as follows: