St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-02-05
HELPED By WEATHER.
Iee-Coated Fields Partly
Overcome the Anti-0ption
Adverse Influence.
Wheat, Corn and Oats Make
Advances During the
Session.
Scalpers Worried by the
Course Of the ProvisionH
Market.
After Many Fluctuations
Pork Closed With a
Slight Loss.

T. SHlCAGO, II 6D. H. lie gram IidThSto
were tirmer, and provisions for the most
part weaker today. Compared with
yesterdays closing prices wheat is sc
and corn and oats sc higher. Pork
and ribs are each l5c, lower, and lard is
215c higher.
The anti-option bill, which may pass
the house next Monday, and the vast
amount of wheat in the visible supply
were the two influences against the
wheat market this morning. Every
thing else was builish. The cold
weather and the ice-covered fields,
which reports from the country referred
to, caused the wheat market to open
strong at about yesterdays closing
prices. For May 777sc was bid, and
after selling at 7Sc it made slight fur
Their advance to 1850. In the same
time July, which opened at 771ac, rose
to 77$4c. The receipts in the Northwest
were again very light, and that was con-
sidered an additional reason for firm
ness, although it was very we'll known
that the falling off in the receipts at
Minneapolis and Duluth was in great
measure due to the Indictment weather.
Minneapolis reported receipts Of only
81 cars, and Duluth got none.
The bulls also had the weather for
help-Zero weather over Southern ILL
nois and sections of the Southwest,
where ram fell three days ago and ice
found on bare fields, went far toward
crop scare, whether real or imaginary.
This influence was felt in the market
all day. There was, carly i'll the day,
quiet taking of wheat by strong houses
under lead of Milmi1fe, Eggleston, Ged-
des and Lansons. There was a little
outside buying on The theory that the
ice formation is injuring wheat fields.
Outside business was not 0ne-tenth
what it would be but for the fear Of the
anti-Option legislation. The conditions
which gave wheat less than 1c recovery
from the low point up to midday would
otherwise have started a bull market
and an advance of 2(03c. May wheat
opened as it closed Friday, at 775sG91Sc,
sold at 77I5c and up to 7814c early, with
July ruled &c under the May price.
There was some realizing in wheat the
last hour, and May closed at 7814c and
July at 7734@5T5sc..' 81.
The corn market was dull but firm,
and the prices at the close showed
gain of &c since yesterday. The range
for the day was only &c, and closing
quotations midway of the extremes of
the fluctuations. The strength in wheat
helped the buying in corn. The experts
were 155. GOO Du for the day, and these
: and firm cables helped the price. An
official estimate of Russian crops makes
the totals much lighter than the NoEem-
Der estimate. This helped the market
lNti,-i ,cr n nf N
Improvement of but &c in the price.
May corn opened at 471Ic and gaiIed
gradually to 47Ac. Corn closed at 47}gc
for May and July, with featureless
Oats, although quiet. ruled firm
er with corn, May opening at 34@Sc.
Business in that option was fairly act
i've at the opening, which was the low
est for the day. Later it sold up to
347sc, where it was a half an hour be
fore the close. The shippers and out
siderS were the principal buyers. The
market closed steady at 34$4c, or sc
above Fridays closing figures.
The provision market worried the
scalpers. With very light stocks and
very light movement of hogs the situa-
ton must remain very bulliSh. 1t is
simply question of whether prices are
at too high a point to make it safe to
own the stuff on contracts. Mr.. Wright,
who mas made such big money on prod
ucts inside of six months, is letting the
market alone. Steever and many
others are doing the same thing.
They fear a drop. Fairbank is,
of course, back of lard in safe way.
His brokers give the price twist
whenever they feel like it. Shorts have
Jared badly in all products of late. The
noisy element in the trade did the buy
ing of pork today. Conservative opera
tors were not buying or selling. May
pork sold at S19.75, to S19.25, to S196719,
to Sl9.45, to $3.50 at 10 o'clock. Lard
was at SLID at the opening and sold
off to s1l.621l and up to sl1.721S. Ribs
sold at S10.25 and off to SOLO. At the
close lard was strong at s11.70 for May,
while pork and ribs were 15c under last
night at S.5717 and SOTO respectivel y.
Estimated receipts for Monday:
Wheat. 165 cars; corn, 24O cars; oats,
% cars; hogs, $4,000 head, and $4,000
for next week.
The leading futures ranged as follows: