St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-01-15
WHEAT WENT HIGHER.
CLIQUE Pressure Removed and
the Price Jumped Over
a Cent.
Crop Dispatches Of a Start
ling Character and Cables
Higher.
Corn, Oats and Provisions All
Follow the Advance
in Wheat.
Stock Market Very Active
and With a Broadening
Tendency.

CHICAGO, Jan. 14.-Wheat jumped
over a cent today. The last half-hour
In the pit was very exciting. The clique
pressure on the selling side was entirely
removed, and the price went soaring
Longs who sold early were getting BACK
wheat. Small shorts were covering.
The rumor one minute was that Far
bridge was covering, and at another he
was selling stocks to enable him TO
margin more heavily on MS big short
line of wheat. The crop dispatches
were somewhat startling, owing to the
extreme weather in many sections of
Ehe wheat belt This on top of the
higher cables gave the market greater
force. Corn. oats and provisions all
closed higher, but compared with wheat
their gain was slight.
Wheat was very strong and a large
business was transacted. The market
opened about 35r higher than yesterday,
but weakened about 360&c, then ruled
stronger and advanced 113c, ruled firm.
and the closing was within &c OF top
figures. Cables were strong and higher,
which brought about the higher OPEN
ing but free offerings and quite large
realizing sales created weakness and a
decline. Then followed a steady recov-
cry and advance TO outside prices. intiu-
enced by heavy buying. While the
offerings were large, the wheat was all
absorbed and still prices advanced.
There was more outside business and
orders were mainly on the buying side.
The large "bull' operators were credit
ed with buying, and parties who had
wheat again. The "shOrt' interest
covered quite freely, evidently appre-
hending a further advance. The re-
ceipts for the week at primary markets
were 100000 bu smaller than during the
preceding week. The export clear
Rnces were smaller from the Atlantic
ports than during the preceding week,
but it is estimated that the visible sup
ply Will show only 4 small increase, and
may possibly show a triie decrease.
Corn was active and irregular, price
changes being frequent and sudden.
The opening WAS strong, with Increased
outside interest, and first trades were
at LU15c over the final quotations of
yesterday, but i'll the advance there was
q good deal of "long" property came
out. On realizing and general selling
by local professionals the price was car
Iied off ga, The action of wheat assist
ing the decline. The demand improved,
outside buying orders became more
numerous, and the estimates for Mon
day coming in light started the early
sellers to buying, resulting in sc re-
covery, reacted lated 1s@4c, ruled,
somewhat irregular, and closed with
4@35c advance.
There was good trade in May oats.
but the other futures were neglected
The market opened stronger and SO
&c higher at the top prices. The ad-
vance brought ont good selling, and
prices receded - &c. The late strength
and advance in other grains caused a
sharp rally to nearly OuIside'fgures, and
the close WAS steady at intermediate
figures, with net gain of sc.
Provisions were rather dull but firm,
and closed generally little higher than
on the DAY before. The receipts of hogs
were no larger than mad been looked
for, and the reports from the yards were
that the demand for them was poor and
prices lower. There were some realizing
sales early, hut TO no great extent. Out
side orders were generally to buy, and
the packers were picking up what ribs
were offered without bidding for them.
Fluctuations were narrow.
Estimated receipts for Monday:
Wheat, 80 cars; corn, $50 cars; oats, 80
ears; hogs, $4,000
The leading futures ranged as follows: