St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-05-07
BULLS IN COMMAND.
Wheat Booms on Chicago
Change With More Buy
ers Than Sellers.
Cad Crop Reports and Ad-
vanced Prices Abroad the
Main Factors.
~orn, Oats and All Hog
Products Share in the
Improvement.

CHICAGO. May 6.-There was a boom
u wheat today, the market bordering
most on excitement several times. A
air speculative business was transact
ii, and the feeling developed was
,ironger, and prices showed further
dvance, the close being &c higher. In
.Crn the market was active the most OF
he session. price changes covering q
l7Ic range, closing with slight gain.
ats advanced 5lQl4c and closed strong
It the outside prices. Pork closed SIZE
.i5her, and lard and ribs loo above yes
ruIay'S last figures, with a moderate
rade only.
The wheat marketOpened with buyers
y the hundred and sellers scarce, with
.ficps at the moment of opening any
Acre from 7614c to 7655c for July, com
IF d with 1924 at the close of fridays
, sSion Reports concerning the con-
itjon of the crops here and abroad and
ne advanced prices in England, quoted
Z; the early cablegrams, were the main
fuses OF the agitated advance. Liver
DOL was reported from id to 115d
higher. CargoeS OH passage were strong
t from Sd to cd advance, and cargoeS
+ ccast were advised as being very
rong at from Sd to Cd higher prices.
he weather in England was called bril-
.i&ut. and that is at present considered
.ufav0rable for the crops. 1t IS ac-
,roWlcdged to be injurious for grass.
ats and harley, but the effect OF bril-
liant weather unOn wheat is not being
welt urOn in the cable news. There
Vas good buying by some Of the promi-
lent local traders most of the day,
though occasional spells of weakness
let in. caused by selling orders tempo
farily exceeding the demand. Receipts
IA the Northwest we're smaller, but local
receipts hold up pretty we'll There
vas good shipping business, and this
Nas made a feature of the day. Shorts
covered freely, especially during the
;jst half of the session, and it looked as
h0ugh there was some motive power
inGtr the market besides the influences
mentioned.
The receipts at primary markets were
lightly smaller than the preceding
EEK and the exports larger, and it is
air to expect that the visible supply
iii show decrease. Receipts at Du-
9Th were % cars and at Minneapolis ISL
Hrs. total Of ia cars, against 32S cars
yesterday and 1862 cars for correspond
liz day year ago. Local receipts were
, ears, of which 1874 cars were of con-
act grade. The opening was about q
re higher for July and H@lc higher
.,.r September than closing figures Of
Il I = f1,,.
ally AID l1bc more for September,
ased eff slightly but again recovered,
nj the closing was about 1%c higher
,,,r July and &c higher for September.
In corn tie conditions were little
ranged, but there was a change Of
,nnl among the leading houses. The
aIishneSs of the wheat market, the
cid weather over the corn belt. the
.sc0uraging reports from planting, the
rmrr and higher cables. the light re-
ripts and the strength in other markets
jUtrhu,td to strong opening. Re-
i.;Dts were small at 100 cars, and the
.eather little improved over the West,
1T is still wet and cold in many places.
.,timateS for Monday are placed at ll5
airs. Initial trades were at 14@55c adj
ancr. and under good demand sold
- fraction more, wheat ruling much
lronger at the time. May and July
uched the high point at once at 1890
sc, while September sold at 1920.
WAS on this sort of bullying market
at half-doZen houses, led by Cong
pM, Patton, Bart!ett-F Frazer and Hatelys.
Undertook to take the profits on a large
ne of corn for July. all months suf-
cred alike. The sales by the syndicate
we're 81 general as to overshadow all
Use, and prices went down quickly.
he break the first hour was to 44c for
az, to 4516c July and to 45%(046c for
nrplember. There was rally of about
&C from the bottom prices an hour
ater. Receipts we're 100 cars, and for
Monday 1l5 estimated. The market ell
rely recovered from the early selling
piOre the close, and last prices were
setter than on Friday at 1870 May,
SIC seller July, and 4714c September.
There was a good trade in oats, but
lie volume was not so large as for sew
raj days past. An unsettled feeling
PREVAILED, and prices. after starting
;uout the same to 16@14c, declined 35c
:.athv with corn. Good buying on the
weak spots and the late advance IN
wheat and corn created strength. and
"rices advanced 5s0Mc, and the close
iaS strong at the outside figures for the
'Months beyond May, the latter showing
net loss for the day of &c, while the
.'her months were up 4@38c. The
rolume of trading in pork was very
.jGht. The opening sales exhibited an
!dVamce of 121Ic, but on some selling by
he lOca! crowd the market declined Sc,
and then reacted OH active bidding, with
~ales at 5Ml0c advance at a time, to
.715c. Some offerings by local oper-
tiUr forced the market down SOC, but as
soon as they were withdrawn it i'm
proved 1215c, and closed strong, 571@c
higher than Yesterday. The offerings
III lard were quite limited, and us a re-
suit trading was light. A firm feeling
revealed in sympathy with pork, the
market advancing 10c with very slight
.tactions, and closing with that gain
uver yesterdays final figures. There
Was steady feeling in ribs early, the
opening sales being around Yesterdays
closing prices for September to 215c
better. Offerings were scarce, and with
me advance in pork this market re-
sn0nded TO the extent OF l0c, and closed
with that advantage.
Estimated receipts for Monday:
II heat 200 cars; coin, lis cars; oats, 2l0
ears; hogs, $4,000. Freights were slow.
Rates remained steady, at sc for wheat
and lc for corn to Buffalo. A few small
loads were offered, but no charters
made.
The leading futures ranged as follows: