St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-09-12
WHEAT AND CORN ADVANCE,
Though Government Reports
and Visible Supply State
mentS We're BeariSh.
STOCKS WERE IN DEMAND.
Active Buying Movement.
Mostly in the Granger
Shares.

CHICAGO. Sept. 1.-THE grain mar
kets were agitated by the government
report issued today. They were fever
lsh and irregular. but ended by being
strong. Wheat and corn are each
about 19c higher than they closed yes
terday. Provisions, after early weak
ness. also closed strong and slightly
higher. Oats finished &c higher for
September.
The government crop report on wheat
was considered rather bealish at the
start. Although the report on corn was
extremely bullish and consequently
lifted the price of that article and of
wheat also to slight extent at the
start, wheat very soon began to indicate
by returning weakness the opinion en-
tertained by the spectators of the gov
ernment crop report. The market soon
settled down for considerable time
into state of sluggishness.
The primary market receipts showed
a material falling off from tine recent
average, but on the other hand so did
the export clearinces from the Atlantic
ports. BradstreetS estimate of the
visible supply knocked the market out
of the even tenor Of its way and in a
downward direction. December, which
had opened at from 5714 to $3.50, and
had fallen back to around 5700571sc,
where it had remained for long time,
tumbled to 565s956$lc when Brad
streets reported an increase of nearly
100000 bushels east of the Rockies.
The first slap administered to the mark
ct was dealt by ROsekranZ, who sold on
the opening bulge 100000 bushels at
from 5714 to 573sc. His example set the
Scalpers Oh the market and caused the
beginning of the weak feeling, which
increased until after the Bradstreet's
visible had worked the price low
enough to induce some bull spectators
to take hold again, and only little or
that Sufficed TO tnrn the course of the
feeling into the bull channel it had pre-
viously deserted. BY l o'clock Decem-
Der wheat had risen to size.
The strength IN corn helped the mar
ket and the close was at the top, 5713c,
for December. The corn market opened
Strong, but the first bulge was met by
flood of selling orders. which gave a
downward direction 10 the market that
iuotCu until hUOul lOItl-utc ulIllutcS
from the close. Then, however. it rose
again to about the highest price made
at the opening, and it closed at an adj
vance compared with yesterdays clos
ing quotation of about &c per bushel.
The government crop report was the
chief item of news which Influenced
the market, but although it was not
capable of any but very. bullish i'm
preston. there were oceans of corn for
sale as soon as the opening bids were
made. May opened at 5614c, tumbled to
54Ic on what some of the traders called
Il bucket-shOp raid. and rose again near
the close to 5611s @56Ac, winding up at
5(95611sc as against $500 yesterday.
Oats were easier i'll feeling and met
with only fair sale. The government
report was looked upon AS quite favor.
able to the bulls. but the great influence
corn has over the oats tuctuation caused
the market to decline after opening
firm. May started at SO, sold off to 3515c
and $3.50 up to 355sc, and at noon was
selling at 355s@351sc. with the later
rally in corn, OATS advanced, May clos.
ing at S6C@361sc.
Provisions opened firm and then de-
clined OH heavy selling by the packers.
The late strength in corn caused reac-
ton and the market closed firm. january
pork finished sc higher; January lard
219c lower, and January ribs SC higher.
FreightS were slow. Charters to But
falo were at 1}ac for wheat and 1Lc for
corn.
The leading futures ranged as follows: