St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-04-08
WHEAT Was NERVOUS
Fluctuations Wide, With an
Anxious Inquiry From
May Shorts.
News Of the Day Was All in
Favor of the
Bulls.
Provisions Active and Strong,
but Declined From High
est Prices.
Stocks Display Strength Al
most From Start to
Finish.

CHICAGO. April Wheat was very merry
Gus today, fluetuating widely. and at one
time showing an advance of nearly 2l2e.
There was anxious inquiry from May shorts
ana little Tor sale for that month. July was
Bcalped success sfullY on big scale by st.
Louis operators, who also supplied the most
lurid CT the crop damage reports and Of the
general prevailing weather conditions in
Kansas. The bull clique was reported to
have been liberal buyers of July. The clos
ing quotations were S9lsc for May and iGlsGD
?6Lc for July showing a gain for the day OF
7sC in the former and 5sc in the latter. Corn
closed a shade firmer. Provisions were
fairly active and strong. but closed consider
ably below The highest prices OF the day.
i scare began almost at the tap of the bell.
i had been somewhat generally expected
that there would be an easier opening be
cause of the heavy closing yesterday. In
stead there was an advance right at the
start and the buying AT once became so gen
eral that the biggest kind OF bull market
0eyeiOpej the first hour The cables were
strong and higher. Outside markets showed
more strength. The storms predicted for
Kansas and Missouri aid not come, and, IN
stead, Kansas was hotter and dryer han al
any time previous. Commission houses had
u flood OF buying orders IN JuIy from out
side people. In addition 10 the natural
strength in July was added the influence
of a scare among the May shorts, led by
the biggest short Of all-Pardridge. The
pressure in the May started through brokers.
no doubt, acting Tor the bull clique. Buying
of Nav was led by Milmine-BOdman, Cay
lord Baldwin, GeCdeS- klrkWoCu, cutler ana
other concerns, some representing the long.
some the biz short interest The London
stocks OF wheat were cGbled a LOG 900 quar-
tiers. about one-fourth Of last years crop.
Experts were quoted as figuring a great re-
duction in the crop from last year. There
was some fear among shorts over What Inc
government crop report OF next Monday may
show Export clearanceS, both wheat and
flour, were quite liberal
There was a rUmOr that the Missouri state
report was out making the condition - per
cent against - pei cent a year ago. II was
not believed however, and the market
seemed 10 gather strength as ii advanced.
During the last hour. however. there was an
easier feeling. s. Louis dispatches animated
that the rumor Of - per cent for Missouri
wheat crop might be close to correct 1t was
claimed that uiahy brokers gave up his
name on about 900 bu July wheat sold
on the advance. One explanation of
the scare early was that some
of the managers of the Western
roads had telegIaphed here cCnfdentially,
saving that the drouth continued, and
wheat locked bad. and, as the Information
from this source Ould not be likely to eXag-
gerate the conditions, operators were in
GllItQ 10 give NLtGItIOlt ~ TIT 4CPClLo 4AiC
opening for May was about the same as the
close of Yesterday 10 lac advance, ruled
stronger. and prices were advanced with some
fluctuations .$Nc. ruled easier, and the clos
ing was steady, about l5e higher than yeSter-
day. July opened lsGI4c higher, and, with
numerous fluctuations advanced ilsc, eased
off 5sc. ruled firm. ana the closing asabout
bsc higher than Yesterday:
In corn initial trades showed Is04c de-
cline compared with the close Of yesterday.
Tho rCPpiTfG sVnrrrTnnlngr the estimates and
the fine spTing-like weather were responsible
for the bearish tone. but when wheat turned
up corn sympGthized and rally OF l4c fol-
lowed the early break. The market after
wards receded Ssc and closed with slight
gain. There was a good demand for July
which was firm when May was weak, the
spread being Widened at one time to lSsc.
There was very fair buying by receiving
houses who have generally held bearish
views. but who are inclined TO cover on any
weak spots.
There was a fair trade buta narrow market
for oats. prices Euctuating within l4c range
and closing at about the same price as yes
terday. Shorts were the best buyers. The
selling came chiefly from discouraged longs.
With the receipts of hogs small and the
grain markets stronger early prices OF hog
products ruled higher In Il general way the
demand was less neutrality-suspicious. cautious
in their movements and dlStrUstful about
following the advance faTther-Whlle the
offerings were sufficient to create the impress
sion that a fair proportion came from the
long interest, parties who were will
ing to accept moderate profits. Prices set
sled back again rapidly and closed rather
easy. Shorts accepted fair quantities. There
was considerable changing of long stuff from
May 10 September. and also spreads in the
way of selling May and buying September
Compared with yesterday. May pork is 7I2c
higher, July 11L2c and September 22I2c
higher May lard is up 15c. July 7l2c and
September 1fc. MAY ribs are unchanged.
July gained II2c and September Ice.
Estimated receipts for tomorrow: Wheat,
300 cars: corn, 10 ears: oats. 157 cars; hogs,
GOO head.
The leading futures ranged as follows: