St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-03-26
ADVANCED ONE CENT.
May Wheat Was Strong and
Closed at the Top
Price.
July Took the Opposite
and Closed With a
Loss.
Light Receipts for Hogs I'm
part a Firmer Tone to
Provisions.
Wall Street Stock Market Act
i've and Buoyant, With a
Brisk Demand.

CHICAGO March p. - Wheat today was
strong for May and bare " steady for July.
Whiie the former closed lc higher than on
the day before, July closed lSc lower. The
number of buying orders for May and selling
for July were the great features of the days
business. Corn, had sharp break. and at
the close showed a loss of lse in the May de-
livery and SSc in July. Provisions were
frmer on light receipts of hogs.
The feeling in wheat was rather nervous.
For May delivery prices ruled higher, the
opening being about the same as yesterdays
closing and steadily advanced lie. then
receded Ssc, bat the closing was steady al the
top. July opened about the same as yester-
days closing, IeCeted &c held steady and
closed Isc lower than yesterday. The July
delivery sold at from &c 10 Use discount as
compared with May prices The reason as
sigued for the action Of the market was the
covering for May delivery ana the selling for
July, III which movement some Of the one
rstors in the Northwest were par
ucularly interested. Ii was claimed
that a number Of buying orders were
received for May delivery and that
there was very little wheat offered, and the
filing of buying order for 5000 or $1,000 bH
would create SSGIi2c rise in prices. Around
TSc for May there WAS some little wheat Of
fered which checked the advance for the
time being. Many dealers have stopped trad
ing in the May future, ana II Is not so easy 20
execute orders as Il week or 50 ago. 7 he re-
ceiptS continue 10 keep up both IN the North
west and here. and there was about 80 per
cent of the local arrivals contract grade, rep
TeSenting largely wheat coming from private
warehouses. Export clearnceS were larger
than they have been of late, while the re-
ceiptS at primary markets were less. 1t is
estimated that the visible supply Will show
decrease Of $500 10 100000 bushels. Crop
adyices continue somewhat mixed, and were
not having much effect on the market.
The pressure Of cash stuff TO make room
for wheat constituted q chief element OF
weakness in corn. especially as shipping
houses claimed they could not probably
place the grain. even al a considerable re-
bate offered by elevator concerns. With the
cash situation unfav0rable for holders, few
traders were friendly enough to buy for i'll
veStmentS. and the demand was chiefly from
the shorts. At one time there was some
thing of a selling of on The part of the OpeT-
atoIs from the wheat pit and this. coupled
with the unloading of long stuff, carried
the price down $50 S4c before there was all
efectual check. The close was within lac of
the bottom.
There was liberal trade in oats and a low
er range OF prices due 10 increased offerings,
and also to sympathy with corn. There was
no especial support except from scattering
shorts, and prices. after opening at about the
same prices as yesterday. declined l2@s4c.
rallied slightly, and finally closed easy with Il
net loss of l2e.
Trade in provisions was very light. After
the first half-hOUT or the session there was
scarcely anything doing. Some strength was
developed at the opening on a few outside
orders coming in ana several prominent
houses taking The offerings which were linn
tied. The advance was moderate, and a firm
feeling prevailed. with the tendency upward
the market gaining TO fair extent all round
There was some covering by the shorts to-
wards the close Final prices com pared
with last night are 1.I2c up for pork, Ice for
lard and &c for ribs.
Estimated receipts for Monday: Wheat, $50
GAYS: corn, 49, cars; oats $50 cars; hogs,
5000.
The leading futures ranged as follows: