St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-07-25
BULLS ON THE MARCH
THEY TAKE POSSESSION or EVERY
PIT nv CHICAGO.
PRICES MOVE UP THE LINE.

< SIdIu w AT SIOUu anu AiOC w CRUZ
er Affect Wheat-Rise of 2
Cents in That Cereal Bears
Still Have Possession OF the
Stock Market.
CHICAGO, July 24.-1here was stir,
ring up of the whole grain trade today.
For the first time in three months great
bull movements were started in all the
pits. BulliSh sentiment has been so
much suppressed for weeks and the
trade was so largely Over-sold in all
markets that the turn in the tide was
OF a sensational character.
The wheat trade had the Siam war
cloud, the light Indian shipments. the
promise that farmers will not ship much
new wheat at present prices, a decrease
of nearly 1000, 900 bushels in wheat Oil
ocean passage, following clearances last
week Of over 100000 bushels, and,
more than all this, reports of fresh dam
age to spring wheat in the Northwest
from the heat. Ire bulls seemingly let
themselves out regardless of any after
clap. The market was given q
twist OF two cents for the day,
closing at the top at 6S15c September
and 74$lc December. First sales were
made at 5s@1c advance, and after some
fluctuations prices were further ad-
vanced &c. Shorts" were anxious to
cover. and there was very strong feel
ing developed, with but little wheat for
sale. Then followed an easier feeling,
Influenced partly by the reports of rain
in the Northwest and cooler weather,
and also by the decrease i'll the visible
supply, which was rather disappoint-
ment to operators. Prices receded &c.
then held steady for Il while, but again
advanced this time lie, closing at the
top.
The scramble in corn and In oats be-
gan Saturday, when prices were marked
up 1c on reports of damage from dry
weather. This morning the reports
were even more alarming. The weather
was hot everywhere and crops in Seri-
Gus way in many sections. A Sensa-
tlonal bull market started. The excite
ment lasted to the close, when the Sep
TENDER price was two cents up at 4lIc,
and the May price neatly 213c up at
4I1c. Shipments for one day were
nearly |. OOO, 90 bushels and stocks light.
The visible supply decreased 1,243,0G0
bushels aud the country buyers added
terrOrs TO the shorts who were on the
run.
There was good trade in oats, and
stronger market. The Improvement
was due to the continued reports of
rust in the West, to the advance in corn,
and to the covering by shorts. The
market opened strong at nearly lc ad-
vance, and after frequent fluctuations
closed strong at about the top, at net
advance of 112@15sc.
The provision market was without
much change from Saturdays closing
prices for a long time, but finally the
managers of the deal saw an oppor-
tunity in the great strength of the grain
markets to give the shorts a gentle
squeeze toward the close, and the shorts
themselves did the rest. The clos
ing prices show a gain in Septem-
Der and October lard of 2779c,
and in September ribs of
321%c. Ribs were the most active of
the articles traded in during the greater
part of the day, but lard woke up to-
ward the end also and led in the actly-
Ity. Pork was left severely alone, and.
closed without single trade, being
nominaly worth about the same as
Saturday.
Freights were easy with moderate
demand for vessel room at 125c for
wheat and 1880 for corn to Buffalo and
2$4 C for corn to Kingston.
- Estimated receipts for tomorrow:
Wheat, 22O cars; corn, $40 cars; oats,
$40 cars; hogs, $4,000.
The leading futures ranged as follows: