St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-04-09
.HEAv|AEsS IN WHEAT.
TWAS 4 WEAKER MARKET c0L0REO
BY CROP REPORTS.
TRADING I'm PROVISIONS SLOW.

-
Stocks and Bonds Active and
- Stronghold Rank Statement
= New York and Chicago Clear
| ,AN ings Show the Increase of
Business Confilence-Expor
| \ and Imports of Specie.
CHICAGO. April Tt was weather
market in wheat, with variegated crop
| reports thrown in. The majority of the
reports received today made quite light
of cr0p damage, and the trade gave ear
to- that version of the story. The feel
Ing was heavy, ami, while trade was
Hight, there was less timidity shown by
short sellers. At the close May wheat
showed loss of about NC. The spread
between May and July is now 114c.
Corn was weak, aud left off with loss
for the day of &c. Oats were firm for
near deliveries and weak for the more
deferred. Provisions were in the main
quite firm. After the close of regular
session of the board yesterday wheat OIL
the curb was very weak, but senti-
ment had turned again to the bull side
before trading was resumed. May
sold privately yesterday as low as 63559c,
but the trading at the opening In the
pit was at 644c, with some little as
high as 6411zc. The market kept steady
at GIG for some time, but there was
some nervousness on the part of the
longs, as the sellers appeared to be act
ing with such con fidcnce. There were
light rains in Northeastern Kansas, with
All indication of those spreading, and 4
majority of the crop reports which came
IN were inclined to minimize the amount
of the damage done by the freeze. For
eign news was not encouraging, mas
much as the great recent strength
of the market here had only caused
about Id advance III Liverpool.
From Frankfort, KY. the reports were
that the damage was being greatly mag
nlfied, and dispatch from farmer
who works an extensive area near
Louisville was that there was no dam
age of any extent. Missouri wired that
it was raining there today and that the
wheat prospects were fine. Other re-
ports from many widely scattered local
tiles were i'll similar strain, and the
market ruled weak in consequence. An
attempt to sell 100000 bushels by
George Baldwin resulted in a drop
from 641lc to 63]sc in less than two
minutes. AS soon rs the last $4,000
bushels of the lot referred to was sold
and the crowd saw there was no more
to follow the price quickly recovered
again 10 644c. After that and up to
the close business was dull, but the
tendency continued to be toward
lower level. There was another drop
which carried the price off to 641sc, fol-
lowed by reaction to $3.50, aud the
latest transaction were at that price,
but there were more sellers than buyers
at that rs the bell tapped.
Corn opened from 1s@4c lower than
it closed yesterday, and III the course of
the day declined &c more. and closed
heavy today and little is expected for
Monday. Trade in the pit was light,
Without any prominent transactions on
either side of the market.
rsWhilc only limited amount of buai-
ness was transacted in oats, the market
remained firm. The cause of this
strength is probably due 10 the effect Of
the crop reports, which have brought in
great many buying orders. May closed
at an advance of 1sc over yesterdays
latest quotation.
. lEaulnS III provisions WaSW1tnOut spirit
and of moderate volume. Prices were
firm at the opening, but that was fol-
lowed by a period of weakness induced
by free offerings of lard by Catlin.
White and others. Later. on an attempt
to buy at the slight decline occasioned
by the selling of lard referred TO, the
market ruled firmer, and prices adj
vanced bevond yesterdays closing prices
aid rested with Il slight advance. Com.
pared with last night May pork is un.
changed, May lard is 21ac higher and
May ribs re higher.
Estimated receipts for Monday:
Wheat, 50 cars; corn, 1875 cars; oats. 120
cars: hogs, $4,000.
The leading futures ranged as follows: