St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-08-31
FAIR BUYING OF WHEAT
And Continued Drought Con-
ditiOnS in Corn States
Aided the Rise.
STRONG TONE IN THE STREET
Though Bears Were Active,
Advances in Stocks
We're General.

SHICAGO. aug. OU.- nS RrdlH mar
kets turned today after weak opening
and ended with gains all around. Talk
of wheat for feeding. fair buying and
liberal clearances firmed up wheat, and
crop damage was the factor I'm corn.
December wheat closed &c higher. Sep
TENDER corn &c higher, and Septem Der
oats &c higher. Provisions also closed
with moderate gains.
Wheat opened rather easier on the
continued free deliveries from the far.
mers in the Northwest.
Cables reported foreign markets the
tnrn easier, but did not indicate any
marked weakness. Trade was rather
light for about fifteen minutes at from
e to &c lower price than at the current
quotations at the close of the previous
session. At the end of that time a few
buying orders from outside revealed the
fact of considerable local shortage
among the local scalpers. For while
they jostled and crowded each other,
although Partridge and Leeming and
some others of the bear contingent had
both hands up selling wheat. The
buyers kept up the rush, however. until
they had added &c to the lowest
price current at the opening.
December opened at 5000, with few
transactions at 5614@559sc and one or
two hves at 564c. IL kept alternating
for about fifteen minutes between $3.50
buyers and $3.50 sellers, and then
hrm6d up and advanced TO 565S(056Ic.
1t did not again get below 561lc during
the day. sentiment appearing to harden
on the side If confidence in present
prices. December closing at the top at
SIZE. The Washington agricultural
bureau was reported to have issued
circular for the information of farmers
concerning the nutrtiye value of wheat
as food for farm animals. That had
some Influence i'm stitfening the
market. The primary market re-
ceipts were again heavy, amounting to
$4,000 blu. The Atlantic port clear
ances of wheat and flour were again
very liberal. The near approach of de-
livery day on September contracts had
restraining influence upon the trade,
which, however, did not prevent the
market from advancing, although it
curtailed the volume of business.
Corn started rather weak. but changed
from that to strong as the session pro-
gress ed. There was no frost at any
prediction of the local weather bure au
reporter. aud that had something to do
with the easier tone of the mar
ket at the opening. The West
ern corn country bad obtained no
relief from the drought conditions, and
that fact gave the market strength
September opened at 5415c, sold very
sparingly at 5436c, and after that be
came very strong apd hard to buy until
it had advanced to over 55 cents. AT l
O'Clock it was bringing 551ic. closing at
55s6c. May sold at the opening at 52Ac
and 521sc. and touched SIC before it
turned upon the few who were inclined
to sell it. Some of those who have been
heavy sellers for few days stood
around the pit watching the price COUP,
evidently putting some restraint upon
themselves to keep from turning i'm ON
the buying side, but it may be said
that, as general thing, the big local
shorts are still short. May was wanted
at 52s4c at the close.
The session of the oats market was
active almost all the time, and quite a
good business was transacted. Like
corn, the feeling was easy at the start,
and prices a shade lower than they
closed yesterday. but when orders came
piling in from almost all sources. espe-
cally the country, easiness was sup
planted by strength, which lasted
through the greater part of the remain
der of the day. September opened sc
lower at 291sc. and sold gradually up to
1890. where it closed.
Provisions were firm. notwithste ding
a good many sold to realize profits. The
packers sold moderately of January
deliveries, but there were orders from
outside sufficient to absorb the offerings
without adversely affecting tine price.
The September and October deliveries
were again the strongest. The receipts
of hogs were $4,000 instead of the $4,000
estimated yesterday. September deliv-
cries show the following advances:
Pork, 15c; lard, sc, and ribs re. The
gains in January are 215c in pork, sc in
lard and 219c in ribs. Lake rates steady,
fair demand at 15Sc for wheat. 14fc for
coin and 11sc Tor oats to Buffalo. A
cargo of corn to Port Huron paid 111sc,
and oats 1c.
The leading futures ranged as follows: