St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-02-21
WHEAT GOES UP 2 CENTS.
ADKAACiEG FRIcES FOR CASH WHEAT
III TIE NORTHWEST
MAIN CAUSE OF THHE BULGE,

Most Uninterest;ngiy Dull Day On
the Stock txchange-in Spite
OF the Stagnation a Firm Tone
characterized the Market-A
Gamblers Day, and tho Play
Was for Small Stakes.
CHICAGO, Feb. 20.-Wheat shot sky
ward today and cICSed PC higher. Good
demand and advancing prices for cash
wheat i'll the Northwest were the main
causes of the bulge, while better exports.
good local demand and the weeks ship
mentS being less than the estimated
weekly requirements aided in the adj
vance. May scored q gain of 2Bc and
closed but ke from the top. The other
markets sympathized with wheat and
closed with an advance of &c for May
corn, sc for May oats and Slight gains
for provisions.
Notwithstanding the big bulge. there
was not an unusually large volume of
trading in wheat today. There were
buyers of May at 5SBc, where IT closed
yesterday. WHEN trading commenced,
and it improved slightly during the
first half hour. iii which time it had
sold up 10 5S2se, with a noticeable
scarcity of offerings. There was only
one feature Of the early news of a dis
tlnctly bulliSh character. The weeks
shipments of wheat and flour from all
the exporting countries of the world
came 3,207,0 00 bu short of supplying
the estimated weekly requirements of
the importing nations. The re-
ceiptS were only moderate. The
Liverpool market was reported quiet
at the opening. but the market for car
goes was irmer and the French demand
for off coast cargoes still continued.
There was a further Improvement to
5S}sc before enough came out of holders
hands 10 cause a reaction. The later
cables reported a decline at Paris and
Benin, due to tie latter cause. There
was a reaction from $500 10 5S4c. Later |
still there was 4 fresh advance, based
upon more liberal clearance from the
Atlantic Seaboard and the great firm
ness reported regarding the Mime
apoliS and Duluth markets. At Mime
apolis millers were reported as paying
24c premiums over May for cash wheat.
The price gradually worked upward
until 1t had recovered again to 5S5Sc, |
from which point the gam continued
with more rapIdity until about fifteen
minute from l O'Clock it was up to
and in another ten minutes il had
reached 60r. Near the end, Oh the re-
ported purchase Of gu, 600 bu at Duluth
tor export and u fen small parcels here.
there was another slight bulge which
put The price up TO G0Hc, and 1t closed
&c higher than it dIu Yesterday. Nav
opened at 5S16c, advanced 15v, reacted
advanced &c and reacted Sc to close
at 6U1sc.
Corn was quiet all day, very little en-
BENG manifested, aud price
changes kept within &c limits. A very
tOlie prevailed and offerings were
very free, while Il very fair demand
existed, all of which was due in a
TO the action of wheat, and
also 10 the stormy weather and smaller
estimates Tor tomorrow. Opening trades
we're at a fractional advance and grad.
aaiiy suic up ZEE more, became quiet
AID steady, selling off but little, and
closed with May at the top figures of
day.
III oats there wa a fair trade and a
stronger feeling. The offerings were
iOt iatSS, anu lIt luOuGTdlS Inquiry,
with the advance in wheat,
a bulge of lose, the close
being at almost the top.
Somewhat free selling orders and
over prices for live hogs at the wards
we're responsible for il q decline in pro-
Visions at the opening. The tendency
vas downward. with slight rallies on a
title buying by the packers, and an in
by the local crowd to BE ''bulI-
Sh." The volume Of trading was very
lght. Later Oh the market was Simply
See-SaW II within Il limited range.
he price changes were influenced more
~ the action III the wheat than any
hing else. Toward the end of the SEES.
however, some strength was de-
'eioped, and the market became mod
rateiy active on some buying by two
,romlnent packing institutions, and
he advance in wheat, with the closing
trong AZ about the outside prices of the
.ay tor everything. Compared with last
light, May pork is sc higher, Nav lard
Unchanged and May ribs 215c higher. {
Estimated receipts for tomorrow:
Wheat, 81 cars; corn, 250 cars; oats. 90 :
:ars hogs. $4,000.
The leading futures ranged rs folIovc.