St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-09-07
CORN TOOK A BIG JUMP
Closing 3-8c Higher and Oats
Make an Advance
of $50.
BEARS RULED IN STOCKS.
Market Active But Weak--DiS-
tillers Experiencing
Heaviest Loss.

CHICAGO. Sept. 6.-Wheat suddenly
recovered from its tired feeling near
the close today and. with good buying
on the squirt, finished 1sc higher for De-
cember. The other markets sympa-
thized, and corn closed 1ssc higher for
May. September oats gained sc and
provisions closed slightly higher all
around. 1t was dull day at the start
in the wheat pit, as it was also in all
other speculative crowds. Nothing
especially new or striking occurred
during the forenoon. and conse-
Quently the spectators had ample
time to thresh over the old
straw. The possibilities in the direc-
ton of substituting wheat for corn to
stock were about the only thing that
kept the price from dropping off in
view of the almost total cessation of
trading during what is generally the
busiest time of the day. Cables were
rather firm. There was spIrt of ac-
tivity when it became known that
well-known crop expert who has given
his particular attention to the condition
OF the Northwestern spring wheat crop
estimated the total yield for the three
states of North Dakota, South Dakota
and Minnesota at not to exceed 6O,OOO.-
600 blu, baSing his estimates on the
actual threShing returns. A tone of
confidence soon Supplanted the early
feeling of uncertainty. and the price of
December wheat, which was confined all
forenoon to a range of from 5655s(0571sc,
rose with considerable vim in the trad
ing to 579sc, and spurted at the close to
57s4c. The buying near the close was
heavy, j. &. SchwarZ sbeing credited
with taking $50, 900 blu and other traders
buying literally.
Today it was corn that took its cue
from wheat. Some OF the big local
shorts who have for week MADE such
poor attempt at manufacturing bear
market out of a sOrely mangled crop
were the best buyers today. The mar
ket was exceedingly dull until after IL
o'clock, but it then became quite active.
1t was at no time other than very firm,
and toward the close 1t became excit-
eddy strong. September from SIC sold
off to $500, but afterward rose
to aud closed at 5S1ac. May
kept very close to 55c until within an
hour of the close, when it rose in quick
jumps until as high as 561sc, and it
closed at SEC. Receipts were fairly
liberal, numbering 34S cars and 1000
bu by canal. Cash oats met with a
fair sale, aud were steady to a shade
steadier. The strong feeling ex-
tended into the speculative crowd
with a good disposition to sell and
buying orders about equal. The higher
prices were principally Influenced by
the movement OF the corn market. Sep
TENDER at the start was nc higher than
it closed yesterday at SOC. Latter 9S1sc
was touched, and at noon il was again
selling at soc, closing at 30Hc.
Provisions opened fairly Iirm, but the
packers had more than enough for sale
to supply the demand.
The after strength in grain caused
those who had sold earlier to bid for
some of their short stuff. and the clos
ing prices were substantially the high.
est of the day. The January deliveries
are higher than ON the day before to the
extent of 10c in pork and 21ac in lard
and ribs.
Freights were firmer. with good de-
mand for vessels at l1ac for wheat, II
@l56c for corn ana l &c for oats to BUT
talO.