St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-02-28
BULL lSH TONE TO WHEAT.
FAB BUYING AND BETTER CLEAR
ANcES CAUSED THE ADVANCE.
nUoyANCY IN STOCK DEALS.


Knockout Produced q Favora-
bic Feeling Towards Railroads
Sugar Went Up on Favorable
News From Washington-Dis-
tiiling Was Pressed for Sale.
CuIC AGO, Feb. 27.-Wheat recovered
Its bullish tone today and scored &c
advance. Fair buying, the SIN aller
Ioadings for European lin porting coun-
tries last week. Il reported decrease in
the English visible and better clear
anceS caused the advance. a little sell
ing near the close caused a slight reac-
ton. but May closed only sc from the
top point. Corn, cats and provisions
were firm, but dull. The gain in corn
is &C and in oats about the sa me. May
pork is Zoe and ribs &c higher. Lard
is without change compared with yes
terday's close.
Wheat in the first few minutes of the
session was extremely unkInd to the
shorts. Yesterday they put wheat to
the other party nj 595S@5912c for May.
and before twenty minutes of today's
59$i to get it back. The principal rea-
son for the advance was the revelation
made by the returns of the small guam
tity of wheat and flour put afloat last
week from the other countries eXclu-
sive of the United States and Canada
which export these commodities. In
Guiding those three great bogieS of the
American wheat tTade-Argentine, Rus
STA and India, the total of the weeks
contributions to the requirements of
the importing countries was only
2.0S0,0G0 bu. TO this amount India
contributed nothing. The 2,CS0.000 bu
shipped last week from countries other
than the United States and Canada, if
added To The shipments from this side,
which were 1,130,000 bu. makes a total
OF $50, coo bu, against estimated Euro
pean weekly requirements of Z, 100000
bu. The Chicago receipts today were
IL cars. Minneapolis reported 1l9 cars
and Duluth 10 cars. \ year ago Chi
cago got S2S cars. Minneapolis 100 and
Duluth 10. The Liverpool market was
quoted easy at unchanged prices, and
the French country markets frmer.
The English visible supply was calcu-
lated to have decreased 1,256.000 bu last
week. The Atlantic clearances, as the
figures came to hand. were giving
promise of liberal total, and with that
further announcement the price OF NAV
wheat rose TO G07Sc or from &c to &c
advance over the opening quotation of
today and the closing figures OF the
previous day.
The export clearanceS of wheat and
flour from the four principal Atlantic
ports and New Orleans amounted TO
about 420, Geo bu. Closing cables were
without any marked change. The
Northwestern markets of Duluth and
Minneapolis were strong, and reported
an urgent demand for cash wheat. New
I Ork had 10 be prOpped up by the
Western markets, or it would appar-
emily have tumbled to the ground. The
market here was very sensitive and
nervous, with many sudden changes
within the range of 60hc and 5956 for
May. The bulls were inclined 10 sell
out at the higher of those two prices for
time. but gained more courage later,
when the small breaks were seen to be
easily recovered from. Leopold Bloom
was reported 10 be liberal buyer early
in the day, and later the buying OF
about half million bushels by Catlin
was said to be for account of Charley
Wright. After selling at G014c more
than once the market then closed with
sellers at 59}5c.
Corn was dull all day, very little in
terest or activity being displayed. and
operations confined to room traders
within sc range. a trlfle better feel
ing was developed toward the close.
The Improvement in price was due to
the fact that many of the local crowd
went home short yesterday and COW
cred today. The market responding to
the upturn in wheat. Opening trades
Tor May were &c lower than yesterday.
Prices then advanced 5Sc and May
closed at the top.
In oats there was fair trading. A
slightly easier feeling early, but the
offerings were we'll taken, and firmer
feeling developed on the strength in
wheat, which carried prices up 4@5sc
Tor May, the close being about at the
top. July was quiet and 15@4c higher.
Provisions opened lower OIL larger re-
ceiptS OF live hogs than estimated and
lower prices for them. There was an
apparent disposition on the part Of the
local crowd to depress prices. but good
support by a prominent broker and a
leading packing institution, and some
covering by shorts, not only prevented
break, but had the effect of advancing
values to yesterdays final figures. The
volume of trading. however, was light
owing to an absence of offerings.
There was scarcely anything doing dur
Ing the balance of the session from the
same cause. AS result prices i'm.
proved to limited extent. Wheat was
tirmer. and that helped TO sustain the
market. with the closing firm at the out.
side figures, except in lard. Compared
with last night May pork is loo higher
May lard unchanged and May ribs nc
higher.
Estimated receipts for tomorrow
Wheat, % cars; corn, 295 cars; oats. 13(
cars: hogs, 10000.
The leading futures ranged as follows:
L....,,- ,,Ii.rh l..