St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-04-11
WHEAT WENT DOWN A BIT
WEATHER TOO C0GD--COvERKMEHT
REPORT TOO 8EARiSH
CORN AND OATS WERE FIRM
Bearish Views Prevailed Yester.
day Against the Bull Sentiment
ofthe Day Before-New York
Export Demand Reported Good
Provision Market Strong and
Higher Armour Sold Lard.

CHICAGO. April 10.-Wheat ruled
weak, and closed with loss of 5sc.
The anticipated bearSlinass of the gov
ernnent report and favorable weather
caused the decline. Corn and oats were
firm. The former in the end was no
higher. but oats sold at the highest
point yet touched for May delivery,
and wound up with net gain of &c.
Provisions started up at a rafting gait,
but stopped and reacted some, retain
ing. however, from Is to zoe advance in
pork and Sc in May lard.
Ribs lost an advance made early in
the day. closing 21ac lower.
Wheat opened weak at about the
point it left off yesterday. The weather
over the greater part of the winter
wheat area was such as to warrant the
expectation of its repairing the greater
part of damage done by frost. Dry
areas in Western Kansas and California
remained unrefreshed by moisture, but
the speculative crowd appeared to
think the bulk of the crop promised
such abundance that they could
afford to throw off Western Kan.
sas and a great part of California
and still have large crop from the re-
naming territory. Their bearish views
were strengthened when they began to
resume consideration of the present
supply and demand condition of the
trade. The 25,OOO.OOO bu of immovabie
wheat in Chicago began to loom up big
again, and the unhealthy premium
which that wheat here was being traded
in. as compared with prices quoted at
the principal winter wheat markets.
caused comment on that condition of
affairs 10 become much more general.
Between the opening and IL O'clock
there was heavIneSS which gradually
depressed May 10 62Hc, as compared
with 63@631ac at the start. The state
agricultural reports so far, with the eX-
ception of Kansas, have indicated
good and in most cases a high condition
of the growing crop. which led 10 the
anticipation of a beariSh government.
Bradstreet's report of 1.2S7.O0O bu de-
crease in the stocks on both sides OF the
Rockies caused a temporary reaction
from 621ac 10 csc. but that was again
succeeded by weakness. After selling
down again to 62$$sc, and recovering to
624c, there were sellers at 625sc III the
enu.
The feeling of strength which corn
displayed yesterday was again upper
most. The export demand at New York
was again reported to be good. AL
though Liverpool was quoted IA lower
at the opening. the buying orders from
abroad appeared to keep equal 10 prices
here. The market was ready to advance
with any corresponding tendency in
wheat. hut failing in tho latfar If Ina
came rather heavy around yesterdays
closing values after an early advance of
sc: -
There was fairly active business
transacted in oats at slightly tirmer
prices. The strength was partly Inde-
pendent. although there existed some
sympathy between oats and the other
cereals. May started Is higher than it
closed yesterday at 3215c. sold at 1890
and up to 1925. The market had another
squirt Just previous TO the end of the
session, and S22lc was paid. this being
the highest price on this years crop.
1t closed with buyers at 1926 Q03234c.
The provision market was strong and
higher at the start with large volume
of buying orders from outside. The
edge was taken off the bull market by
the free offerings of the packers at the
advance. The small run of hogs was
the cause of the opening strength. To-
days receipts of hogs were only 1900,
and they brought an advance OF 10
cents.
Armour was credited with selling con-
siderable quantities of lard. The inter-
national packing company was seller
of pork. Dee. Hatelys. Lamson & Co.,
and other commission houses sold ribs.
After some advance BaidwIn-Farnum
became aggressive sellers of pork.
Estimated receipts for tomorrow:
Wheat. 40 cars; corn. 95 cars; oats, los
cars; h ogs, $4,000.
The leading futures ranged as follows: