St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-04-16

CHICAGO, April 14.-Rain in kenSaS
broke both the drought and the wheat
market. Compared with yesterdays
closing prices the latter clOsed &c
lower. The large export trade in wheat
yesterday reported from New York
slmmered down TO about 30 boat loads.
Nothing i'll the way of export business
was done there in wheat today and the
market declined steadily all day, with
but few reactions. Corn closed un-
changed, but provisions finished higher
all around.
The drought in the wheat pit which
caused the bears TO swallow such cOpi-
ousdraughts of short wheat yesterday
was broken today. Kansas got general
rains, apparently covering the entire
state, and the whole area of the Missouri
valley reported generous down-pour.
That, without anything else. was suffi-
cient to obliterate the bullisii feeling
which was So conspicuous yesterday
afternoon. The European drought
canard also received its quietus. 1t
was raining in England and there was
low barometer over the continent, i'll
dicating probability of general rain
there. That left to the bulls only the
California drought to hang their hopes
upon and that was not enough to
prevent one cent break at the OPEN
ing. May wheat, which closed
yesterday at 6155c. opened today with
sellers at from 605sc down to 603sc, and
no buyers at over 601sc. In half All
hour from the opening it had declined
to $3.50. and did not show any signs of
recovery until it had reached the latter
price. Along with the bearisl influ.
ence of rains were market advices
from Liverpool reporting absolute in
difference to yesterdays advance here.
A letter received from Liverpool said
that the millers there were getting Rus.
sian and Argentine wheat SO low that
they could make -four cheaper than
even the very low rates quoted from
this side. The only offset to the Tore
going was the news from California.
Auguste BrOsseau, a well-known MEM
Der OF the board of trade, who has been
travelling through that states for six
weeks, sent the following telegram
from there to friend this morning:
1.-The drought here is very serious, even
i'll Northern California. Cattle being
given away" That had some effect in
staying the early decline The price
reacted from 59sl to COZ cents.
The trade III the pit compared with
the previous few days business was
light aud the overworked brokers had
time to take much needed rest. The
closing price for May was 601s@604c.
The corn market was very dull, but
firm md
tlucnced by the weakness of wheat.
The Liverpool market was quoted weak
with buyers holding off, and there was
said to be no Eastern demand, but
holders here refused to give way and
there were no selling orders of suffic-
lent amount to OvertOp these received
on the buying side. The drought in
California has already produced the eff
feet Of creating all inquiry for corn in
Nebraska to be shipped to the Pacific
coast. May corn opened here at $3.50
and closed at 3S19c. after selling as
high as 3S3sc. Receipts today were
l5S cars and estimates for Monday are
200 cars.
There was only small business
transacted in oats. The easier feeling
was in sympathy with wheat. as there
was not enough doing to create any
sign of an independent feeling. May
started &c lower at 1890, sold off to
3214c,up to 3219c and closed at 1890 bid.
Inc provision market was strong,
with sellers rather scarce, and for the
most part confined to those who had a
profit i'll previous purchases. The re-
ceipts of hogs were only 10000, as CON-
pared with $4,000 expected. The weeks
receipts were 41.554. compared with
100,O6S for the similar time year ago.
Packing to date this season amounts to
$4,000 head, compared with 29S. 200 for
the corresponding period last year.
May pork started with gain of 10c,
improved 1870 more. but worked off
again so that only sc profits remained
over Yesterdays closing rate. July,
however, rose Use, and rested with 15c
net gain. May lard closed at the top
price OF the day, 1870 higher than yes
terday. Ribs closed TIC higher.
Lake business was dull at 114c for
corn, and load of oats taken to Buffalo
at 1Ac. April option sales none;
close S5c bid; Lima oil sales none.
Estimated receipts for Monday:
Wheat. As cars; corn. 200 cars; oats, 14O
cars; hogs. $4,000.
The leading futures ranged as follows:
Open, High Low Clos