St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-02-16
WHEAT OH THE DOWN GRADE
HAMMERED eY NEW workers. on
'REsR!SH NEWS.
FIELD DAY IN SUGAR SHARES.

Failure to Hold the Annual Meet.
ing OF Sugar Stockholders and
Bad News From Washington
Caused Heavy Selling Orders
A Decline Of over Tire
Points Before Noon.
CHICAGO, Feb. 15.-May wheat sold TO
5S$s c today. Wheat was generally weak
ali day and closed but IS from the bot
tom at 5S} &c, with loss since yesterday
of &c as Il result of heavy sales. New
York pressed the selling and general
bearish news did the rest. lower cables,
larger receipts, mild weather and light
export clearanceS ali adding to the
weakness. Corn and oats responded
reluctantly 10 the break in wheat. Corn
lost sc and oats &c. Provisions were
irregular, but In the end showed no
change compared with yesterdays clos
ing prices.
Wheat was very weak at tile opening
and continued so during the forenoon.
Within an hour and 4 half from the start
May wheat, which closed yesterday at
G0l4c. had declined 10 594c. with one
sale as low as 591sc. The chief reason
tor The decline was the disappointing
weakness of the Liverpool market, the
strength reported FROM which on the
previous day had been the main cause
OF the advance which took place here.
The receipts were fairly liberal and The
export clearances light. and it was said
that nearly every prominent exporting
house i'll New York had selling orders
III the hands of their Chicago brokers.
The opening price for May today
WAS anywhere from 59%c to 6016c,
ami it sold at 6l1Sc before II o'clock.
The Liverpool cables reported tae
weather in England mild ana holders of
wheat more disposed 10 sell at I'D de.
cline. New York wired that May wheat
there would have to decline from II TO
113c to permit of the working of toaay's
foreign buying orders. Other dis
patches from New York confirmed the
latter very beariSh outlook. New York
piled long and short wheat OH the heads
OF the people here in such quantities
that after recovery from 1875 10 So it
broke again, and on the second occasion
il broke so badly that the previous lows
est price appeared high in comparison.
ZeisS, Il broker, sold heavily. his sales
being said TO amount to 10000 bu, and
May closed but s from the bottom.
May opened al 601sc, declined 1c,rallied
sc, lost sc, and reacted 1sc. to close
at 5Sl%c.
There was fair trade early in corn
Nhyland buying aeout $4,000 blu,
which was the only noteworthy feature
all day. The market al tie day adj
Yanced became very dull, and the range
for the entire session was limited to
35@5Sc. Opening trades were at yes
teruay'S final figures, and the filling of
ihe order above mentioned held the
price steady for a while, but when
wheat turned down the offerings in
creased and prices receded s8@915c, rail-
lied 16@l4c, declined 14@35c, and
closed with May at the days bottom
figures.
IN oats there was a fair trade and a
weaker feeling. with decline of 40
&c. Long stuff came out more freely
and buyers were not very numerous
The decline in wheat and corn also had
considerable effect. May opened Un.
changed at 2g15c, and, after advancing
sc. declined IS c and closed at The bot
tom.
With the run of live hogs at the yards
about l4,000 in excess of the estimates
and lower prices for them provisions
OpeHeu weak ana lower. Nltn good
support from the packers, reaction set
ID, and tie loss was more than recov-
cred. There was little covering by
shorts. and mis- helped to sustain prices
For time the weakness i'll wheat had
no apparent effect Oh the market, while
the activity at TIE yards and slightly
higher prices for the better grades of
hogs contributed to the strength, but
towards the close it sold off to near
yesterdays final figures on the break in
wheat, week feeling prevailing. ex-
cept for ribs. Closing prices were about
midway between the top and bottom
figures of the day. Compared with last
night, May pork, May lard and May ribs
are unchanged.
EstiT ated receipts for tomorrow:
Wheat. 90 cars; corn, 3l5 cars; oats. 80
cars: hogs. 10000.
The leading futures ranged as follows: