St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-03-25
Supporters OF Wheat and
Corn Suddenly Show the
White Feather.
All the Gains Made by the
Two Lost in Fifteen
Minutes.
Provisions Were Weak, but
the Decline Was Not
Material.
Wall Street Bears AggPes-
Sive, Forcing Prices Up
All Around.

CHICAGO. March 24.-After an all
day bold front, wheat and corn, within
fifteen minutes of the close, weakened
most ingloriously. Coru which had
only been egged on by the example set
to it by the wheat market, was the
weaker of the two when its supporters
began to show the white feather.
Wheat had gained about &c for July,
but dropped it all at the close. Corn
lost 3, of the highest price it brought
early in the session. Provisions were
weak during the greater part of the
day, but the decline in the end were
not very material.
Vance and Hubbard bought from 600,-
coo to 100.0 GOO bu as the wheat market
was declining, 100000 bu of which they
got from Partridge in one lump. Late
continental cables were all lower, and a
sudden desire TO sell developed. There
was more than the usual excitement on
so small break, and very heavy trad
ing during its cOntinu nee. The cold,
unfaVorabie weather and some little
activity on the part of the clique brok-
erS and a rumOr that Cudahy's name
was to be given upon some recent large
purchases were the strong fac
tors in wheat prior to the break.
The crop damage reports were numer-
Gus, particularly from Indiana and Mis-
souri,, the drOuth in Western Indiana
was apparently yet unbrOken, and re-
CeIptS in-the Northwest were again
light. These conditions started shorts
to covering freely, and, as there was
little for sale. prices showed good deal
of firmneSS. The opening was g C higher
for MAY and &c higher for July. and
after some slight fluctuations prices
were further advanced &c for the
former aud 3s@13e more for the latter
future.
The corn crowd studied the weather
reports, ana concluded that storms
meant reduced receipts, and when
cables came in showing quite an adj
vance. and when wheat proved slightly
higher, there was fair buying. One
prominent house took a considerable
quantity, and the professional operators
favored this side. especially as outside
news suggested strength. Subsequently
there was desire 10 unload, and offer
ings could not be absorbed except at
COACNSSlOllo III D44SNos AAOANOAo oSAAb
offers to the East, and reported that
local prices on the contract grades are
above shipping basis, and this worked
against stability.
The market closed sc from the bot
tom and &c under yesterdays final
quotation.
Their was fair trade in oats, prices
covering a range of 35c, and closing
weak at inside prices, with net loss of
1S@35c. The feature was the advance
iii June, that has been selling the same
as May to Is c premium.
The most striking feature of the pro-
vision trade was drop of 25c IN May
Lard, while July and September closed
with net gain OF PC. Trade was very
light. The party usually depended upon
to support products, appeared for a
long time to have abandoned them to
their fate.
Estimated receipts for tomorrow:
Wheat. 1913 cars; corn, IFS cars; oats,
160 cars; nOgS. 5000 head.
The leading futures ranged as follows:
Srrk Z y