St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-01-21
WHEAT WENT LOWER,
The Net Result Of Yesterdays
Operations Was a Loss or
S-4 Cents.
All the Other Articles Traded
in Show q Decided Ad-
vance.
Pork Products Close at the
Highest Prices Of the
Day.
Prices Of Stocks on Wall
Street Developed Decided
Strength.

CHICAGO, Jan. 2O.-Wheat today sold
&c under the high point of last week,
and, though rallying somewhat, closed
&c lower than last night. The tirmness
in other articles was in marked con-
trast. Corn closed with gain of sc,
pats &c, pork soc, lard re and rIDs
P2J5c.
The best wheat buyer early in the
session was Partridge, and for time
he took about all that was offered, ana
held the market. But cables came III
easier, the selling became liberal and
Partridge finally withdrew. The mar
ket. deprived of support, became
heavy and went off about 1c. The liqui-
dation by the belated longs ana the
closing out of trades through eX-
haustlon of margins was still
going on. and there was not
much done. The movements OF
Cudahv's brokers were watched very
closely, but no evidence could be OBJ
tanned that the big Spectator was buy
ing any wheat. During the last hour
the market gave some indications OF
strength on free buying by scalpers and
covering by shorts. The opening was
about 1501%c lower than yesterday. put
became firm and prices were advanced
3sc, then ruled weaker AGAIN ana de-
cined lc, advanced iIregularly &c, then
ruled steadier and the closing was
about sc lower for May than yesterday.
The July future ruled somewhat moe
pendent of the May delivery. and while
prices ruled sc lower at one time than
yestel days closing, also ruled sc
higher, and the closing was only about
lac lower than yesterday. The reaIlz-
ing was chiefly for May delivery, While
he buying was principally for Jul y.
In corn there was rather more inter-
est displayed, the market ruling quite
active at times, but fluctuations kept
within 5Ic range. The sentiment de-
veJoped was stronger and higher prices
were scored. but the full advance was
not maintained, though the market at
the close had gained 35@12c. The I'M
proved tone was due largely to the lib
eral purchases by prominent commission
houses. and to better support by the
provision interest, who were also
credited with increasing their nOld-
ings. Local room traders ana a
party who have sold freely OF
late supplied the demand. Cars con-
tracted for tomorrow show material
increase OF 0Uu CHIS, NulCll' uHuSl OiNA
nary circumstances, would have weak
ened the market. The spot corn situa-
ton at the seaboard was regarded as
remarkably strong. A better export
demand was reported with much OF the
present stocks mt New York owned by
exporters or consumers and little i'll
transit, ocean freights being cheap favor
the export movement.
There was a falr trading in oats and a
steadier feeling, but prices were con-
fined to &c range.
The Price Current sEcomments on corr
and hogs WAS inclined to make The trade
very bullish. Early in the day there
was buying Of ribs and lard by Cudahl
and Rolyson. Shorts were nervous and
covering in all products. Fairbanks
brokers sold lard, keeping prices fol
that article relatively much backward
A leading broker expressed the belief
that by buying 10000 barrels of pork il
a sensational way the price might have
been run up close to $40 in little time
but he refrained from putting his belle
10 practical test. On final bulge al
products went to the highest prices TO
the day at the close.
Estimated receipts for tomorrow
Wheat, $50 cars; corn, 800 cars; oats, Is
cars; hogs, 10000 head.
The leading futures ranged as follows: