St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-01-31
STILL CLIMBING Up.
Pork Goes Well Beyond the
Magic Mark Of $40 a
Barrel.
Wheat Climbs Up the Hill
Only to Slide Down
Again.
First Shortage in the Visible
Supply for Many =
Months.
Slight Upward Movement in
Provisions on Short
Receipts.

CHICAGO, Jan. 30.-Wheat climbed up
the hill today and then climbed down
again, closing at almost exactly Satur-
days final figures for May and &c
lower for July. Corn and oats did about
the same thing. Pork got well beyond
the magic $50 mark for the first time,
and, unlike grain, showed a substantial
gain at the windup, leaving Off with an
advance OF 1115c over the closing figures
Of Saturday. Lard is up 1215c and ribs
l5c. Wheat was stronger, mainly on
the report of cold wave; it was rain
Ing yesterday in many portions of the
winter wheat belt, and as this was
!ikely TO be followed by freezing, if not
zero, weather, there was some appre-
henSion of injury. and shorts covered
pretty freely, while there was also
fair amount of Investment buying and
not much for sale. There were some
other strong features in the market be-
sides the weather. The French wheat
erop was only So per cent of last year
in condition, the area only 90.5
Of last year, leaving prom
Use Of only about three-quarters
of last years harvest. The visible sup
ply, for the first time in months. showed
decrease, but as IL. II. Aldrich re-
marked: I'VE had to burn up an eleya-
tor full of wheat in order to get it,"
However, business was largely local;
the receipts here were unexpectedly
heavy, and the closing cables weak and
without much animation. During the
last hour the market broke sharply on
free selling, which was supposed to be
led by Cudahy. and on the break there
Tas free liquidation. The visible sup
ply was also weak factor, as 1t showed
that but for the fire at st. Louis the in
grease would have been fully a half
million bushels. The opening was about
ne higher and ruled firm, prices adj
Vancing &c more, held firmly, and then
declined 55@l8c, and ruled easy, and
The closing was 1804c lower than
Saturday. Corn was decidedly strong
vt first, with good sharp buying. Initial
grades were at &c advance over the
final quotations of Saturday, and soon
EfterWard sold up fraction more,
rood many buying orders being at hand
from parties who were looking for
Il continuation of the bulge of
IaSt week. AT the top, how
tver. there was heavy realiz-
ing, which carried the price back &c
the offerings being too much for the
local crowd to take care Of, tomorrow's
estimate coming in at 800 cars, which
was looked upon by many as "bear-
ssh factor, and the market finally
closed about the same as Saturday.
There was a good trade in oats early,
first sales being nj &c advance. and sold
&c more. The buying was not strong
enough 10 sustain the bulge, and as
other grains weakened prices receded
PC, and the market became very quiet
and closed at about the same prices as
Saturday. There was another very in
teresting upward movement IN prices
of provisions for the day. 1t was no
surprise, although the figures for all
products begin to look pretty high. The
cause of the advance was in the same
line as Oh previous days. Hogs at the
yards were 5000 short at 10000, and the
estimate was very light for Tuesday at
1900. Prices at the Yards were adj
Vanced. ScalperS and shorts were buy
crs. and again the country has got in on
the long side. The close was steady at
some reaction from top prices.
Estimated receipts for tomorrow:
Wheat, 325 cars; corn, 800 cars; oats.
235 cars: hogs, $1,000.
The leading futures ranged as follows: