St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-04-02
WHEAT WAS WEAK AGAIN.
THE mar OPTION CLOSED ONE HALF
CENT LOWER. =.
ACTIVE STOCK SPECULATION.

ne 1enucnCy oil the Market w as
in the Direction of Higher
Prices-AtrOng Closing, With
London Buys St. Paul, Atchi.
son and Louisville.
CHICAGO, March 3l.-The mild weather
and reports from the country that wheat
had received no damage whatever from
the recent freeze caused wheat to rule
weak and To close 1S0o5sc lower than it
did yesterday. The corn and oats mar
ket were extremely dull and inclined to
weakness. The provisions were weak.
without any wayering of that feeling.
Wheat opened strong. but not very
active, at from 6O5sc 10 Gle for May.
The local crowd had at those prices had
Il great many tens and tives of long
wheat. with from S6.25 10 Sl2.5U profit,
and that OIL the bull side of the market
proved too strong a temptation for the
average scalper to resist. There were
also a good many changing orders
III the way of selling May and re-
placing it with July and September,
principally into the latter delivery
at from SIC, narrowing during the
operation to SC spread. COunselman-
Lay, Adams.Samuel, Cush Clifford and
SchwartZ-Dupee were the most active
of the sellers of May at the opening.
Many of the selling orders were said to
have come from New York. The mar
ket turned very weak Immediately after
the opening, and in little more than
half an hour May declined to 60Lc, or
&c below the highest point at the start.
Chicago receipts were % cars; Mime
apolis, 1S2 cars, and Duluth IS. A year
ago the receipts for Friday, which was
holiday, and Saturday were reported
together, and amounted to: Chicago,
oo3 cars: NiInneapUlIs and Duluth, 1,13O
cars. Bradstreets reported the weeks
export of flour and wheat from both
coasts at 2,g66,250 bu on the previous
week. Since Jan. !, 81, 943, 600 bu. COM
pared with 41,415,00 bu Tor the CORE
spending period of 1893.
Inc market continued to rule weak
during the greater part OF the re-
mainder of the session. There was a
rally TO 6O1zc from 6O4r, and then
gradual tigming decline to 6011sc. with
sale or two as low as Zoe. The closing
trades were at 601s@6014c.
Nc cOTn iDdTktL was again very Gull,
and the price and fluctuations were. as
Tor some days past. largely influenced
by wheat. The market opened firm at
3733sc for May. ami before the firm feel
ing evaporaled 37slc was realized for
one OF two fives. when wheat dropped
off there was corresponding movement
in corn. There were temporary rallies
of sc from the bottom price quoted,
but the continued weakness in wheat
prevented them from sticking fer long
at time. The closing quotation, 3715c,
shows no change since yesterday.
Only fair amount of business was
transacted in oats. Sellers were in the
majority. TIE more remote deliveries
were comparatively firm. May sold
down to 3S1 sc and closed there.
There was less activity in provisions,
and prices were generally on the down
grade. The days receipts of hogs were
$4,000 head instead of the estimate of
1900. and that gave the market the in
itial decline. Near the end of the ses-
sion pork sold at S1l.50 and closed at
$11.52119. Lard wound up at S6.771a and
ribs at $685..
Estimated receipts for Monday:
Wheat. 26 cars; corn, 300 cars; oats, 26O
cars: hogs, $4,000.
The leading futures ranged as follows: