St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-04-04
TAKING FRESH HOLD.
The Bull Wheat Clique Bought
Both May and July
Futures,
Crop Damage Reports Also
Help to Advance the
Price.
Provisions Nervous and IP-
regular, Closing With a
Big Loss.
Some Sharp Net Gains in
Stocks Recorded in Wall
Street.

CHICAGO, April 3.-The winter wheat
crop is either seriously damaged or re-
ports being received here are much eX-
aggerated. The bull clique today were
buyers OF both July and May, and had
no difficulty IN frightening the shorts
and advancing the price lltc from the
days inside prices. july closed &c
over Saturdays closing price, and May
sac. Corn was firm, and gained &c.
Provisions were nervous and irregular,
closing weak close to bottom figures for
the day and compared with Saturday
night, 42]sc off for pork, l5c for lard
and 22l c for ribs.
Wheat opened for May about 95@25e
lower than Saturdays closing ana re-
ceded Is or so more, then became strong
er, and prices were steadily advanced
18Ic, then weakened OF slightly, and
the close was steady. The weak
ness at the start was due to the
reported failures caused by the break
in provisions Saturday. These fail
ures caused some eaSineSs amCng trad
ers ana Induced some selling. But good
buVing for MAY turned the market and
caused the advance. Bad crop reports
were received from the Southwest, Cen
trail Iowa and Indiana. Dry weather
continues in Kansas and Missouri.
There was some talk of a publish Hi
noiS state crop report, which is expected
within a day or two. The July future
sold within about 8 sc OF May, but the
difference Widenpd out later to 4$lc
again The visible supply decreased
less than generally eXpected-Only DBL
600 bu., and year ago decreased 251, 900
bu. The total supply was reported at
1854, 600, bu. and a year ago at 4l,O56,-
600 bu. The receipts in the Northwest
continue large and local receipts also
exceeded the estimates. Export clear
ances were larger.
In corn the initial transactions were
at about the final Quotations of Satur-
day, and on selling by longs and local
crowd in general the price broke &c,
when a &c reaction set in, the early
sellers turning buyers, due TO prospects
of a decrease in the visible. This adj
vance did not hold, however, the upturn
bringing out more selling orders, under
which the market Sagged back 4G55c,
rallied again and closed with 4W%c
advance for the day. The local crowd
apparently continue to hold bearlSh
views and on any advance are inclined
TO sell. notwithstanding the steady de-
cline for some time back. The large
stock and slack inquiry for the con-
tract grades is the principal depressing
factor.
There was q liberal trade in oats, but
fluctuations confined 10 35c, and the
close was at about the same prices as on
Saturday. The feeling was nervous.
L. z yyl a
each product had to stand Oh its merits,
and at times some of them appeared to
have no merit. The market opened
nervous. with prices at about the bot
tom figures on the bad break on Satur
day. The first thing in order was a fair
recovery under lead OF lard. This
product was bought freely Tor Septem-
Der by the leading sellers OF Saturday,
and prices recovered 30(G40c from the
low point. Pork and ribs made a good
recovery at the same time. Then the
market got irregular and the trade
Shaky. While lard held well, pork and
ribs got slaughtered late i'll the
day. 4 lot of pork sold by George Par
ker was said 10 be for Armour. Long
stuff kept coming out from all quarters
on the way down. The posting of the
failure of two concerus-SimOn Il Co,
and SnOdgrasS, both thought to have
been hurt by the slump in provisions
Saturday to the snaky condition
of the market. SimOns was thought to
be loser on 1000 tierces of lard, and
Snodgrass was said to be in the gap for
larger line of stuff held for Ryan, of
dubuque.
The estimated receipts for tomorrow
are: Wheat, $50 cars; corn, 235 cars;
oats. 2I5 ears; hogs, 1900.
There will be no session of the board
of trade tOmOrrOW-electiOn day.
The leading fulures ranged as follows: