St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-04-23
Many Foreign Orders Re-
ceived at Chicago and
Other Markets.
Seriousness Of the Crop Out
look Abroad Causes the
Demand.
Corn Follows Wheat'S Lead
and Closes With a Good
Advance.
The Professional Element
Controlled the New York
Stock Market.

CHICAGO. April 22.-Wheat led an adj
vance in the grain markets today, and
for the first time in many months the
bull inspirations came from the fereign
consumer. There were large buying
orders from abroad received at this and
| other markets. which today's advance
prevented being filled, however. hold
erS asking &c more than they would
have accepted yesterday. July wheat
closed at 741sc, as against 1880 on the
day before. May was remarkably slow,
aud closed at s29lc, compared with 73c
yesterday. Corn and oats were tirmer
and higher, partly i'll sympathy with
wheat, but due also to the bad weather.
Provisions were dull and closed at
slightly lower than yesterdays final
prices.
While the buoyant feeling was some
what checked by the financial outlook,
the feeling seemed better than yester-
day in this respect, and the bank state
ment was regarded as favorable. The
clique was again doing good deal OF
the buying, but Logan, SchwartZ-Dupee,
Kennet-Hopkins, Armour and others
also bought freely. Partridge was
seller, and there was scattered selling
generally against calls. Cables were
higher, and continental markets were
said to be excited, with Paris 1a@1f
higher and Berlin 2 marks higher,
due, it was said, to the increas-
ing seriousness of the bad crop
outlook. At home there were no
rains yet in Kansas, and the storms in
the Northwest have put an embargo on
all farming operations. 1t was asserted
that seeding would be put off two or
three weeks, making the harvest late
and increasing the danger of the crop
from hot winds in July or early fr ost.
A key note to the market was dis
patch from Prime, which read:
Crop conditions are in doubt; indica-
tons of disastrous results OF late
storms on wheat, oats and fruit: farm
ing operations brought to StandStill."
The affect of all this was to stimulate
active buying, and was little for sale.
Nearly all domestic markets were higher
than Chicago. and New York reported
the best continental buying there for
long time. The indications are that
there will be a decrease of about 1,000,-
600 bushels in the visible supply. May
opened about the same as yesterdays
closing, anG then prices declined 1c,
rallied 5sc, and the closing was about
&c lower. July opened 4@$8c higher,
ruled firm and prices were further adj
vanced &c, held steady, and the closing
was about / sc higher than yesterday.
Expectation of an immOVable market
in corn today, indicated by the trading
in puts and calls, was doomed to disap-
pointment. There was no life in the
trading during the first fifteen or twenty
minutes. The fluctuations during the
time were covered by from 1-16c to sc
per buShel. But when wheat showed
such unmiStakable signs of going high
er, buying orders came in in such vol
ume as to JOstle it out of its narrow
course. New York sent many of the
buying orders through Baldwin-Farnum
and Walker IL Co. Receipts were small
only IS cars, where 125 were expected.
There was some inquiry for cash No. 2
for shipment, and one lot of 10000 bu
at least was taken by shipper who
gave May in exchange, but at what pre-
MUM for the latter was not made pub
lie. The market closed strong at about
the best prices Of the day, a gain of
16(03Sc compared with last night.
There was not heavy trade done in
oats, but the market held firm in SYM
patty with wheat and corn. The orders
from outside were light; a good many
bad crop reports were in circulation.
The close was at outside figures with
5s@15c advance.
The provision trade was not up to
former days of the week. Although the
board said 10000 hogs for next week
there were private estimates of 100000
to 10000. This was the bearish feature
for the day. Th re was also consider
able selling by those with profits on the
advance. There was only fair activity,
and at the close prices were at the
medium figures of the day. Compared
with last night, pork is down 21905c.
and lard and ribs 5@715c.
Estimated receipts for Monday:
Wheat, 300 cars; corn, 141 cars; oats,
100 cars; hogs, $4,000 head.
The leading futures ranged as follows: