St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-03-17
BAD CROP REPORTS
From the Winter Wheat
States Advance Prices for
That Cereal.
Enough Buying by the Clique
to Make the Shorts
Nervous.
Small Receipts Of Corn Cause
q Fractional Advance IN
Values.
Advance in Northern Pacific
Preferred the Feature in
Wall Street.

Chicago. March l6.-Bad crop re-
ports. chiefly from Central Illinois, Mis-
souri, and Kansas, materially advanced
the price OF wheat today. The clique
kept buying May, not very aggresSively.
but enough TO keep the shorts IN
rather nervous frame of mind. The
closing was &c higher for May and 11sc
higher tor July than the closing figures
yesterday. Corn is up sc, pork ana
lard each l5c and ribs sc.
Beside the crop damage reports, news
came that another cold wave IS on ITS
WAY and temperatures in the Southwest
alarmingly low. Cables started on
shade better, domestic markets were
nearly all stronger. and the offerings
of wheat rather light. The Cincinnati
Price Currents weekly crop summary
admitted considerable damage TO wheat.
The opening was about l@$5c higher,
md, with some slight fluctuations,
prices were advanced $IQ1c more. then
field steady, and the closing was within
= of the top.
The feature of the corn market was
the small character of the movement
from first hands. the receipts being TIE
smallest of the crop. Country shippers
have not had time 10 start much grain
since the recent resumption of east
bound freight traffic, and dealers have
ANTICIPATED small arrivals all this week.
These facts, together with show OF
iirmnesS in other markets, caused
small fractional advance from yeSter-
DAYS closing prices, though the market
was decidedly narrow and unin-
teresting. While the posted receipts
Etra short of the "
pectatiOn at 90 cars. the estimate for to-
morrow is also small at 90 cars, and the
local out inspection larger at los, $50 bu.
Only IS cars Of the contract grades were
eceived and~the regular market gained
little support from the fact of 4 fam
demand for corn to 90 to store at figures
a little closer TO the May price than at
tie beginning of the week.
Covering of May shorts" by a local
trader was the notable event III the oats
crowd The offerings were not large,
and, as Otner grains were firmer, oats
svmpathized and prices advanced Il ~
&c, and the market closed strong at
about the top.
Lower prices at the yards for live
hogs caused an easy feeling to prevail
at the opening of the market for prod
uctS, especially for mess pork. Real
izing sales of this product and ribs
sent prices down. A partial reaction
soon followed, with the tendency up
ward. The situation with reference 10
lard was quite different and was really
the feature of the market. A prOmi-
nent operator = Wright = sold quite
freely, and nearly ali the offerings were
taken by leading packing institution
-Hately. The result was that prices
advanced instead of declining. The
market continued to advance after the
call, and closed steady for pork and
firm for lard. Transactions on foreign
account were large, especially for Nor
way and Sweden.
Estimated receipts for tomorrow:
Wheat, 200 cars; corn. 60 cars; oats, 100
cars; hogs, 1900.
The leading futures ranged as follows: