St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-09-05
CORN THE LEADING CEREAL.
Wheat Followed Its FIuctua-
tions, but Oats Showed
Slight Reaction.
ACTIVITY IN WALL STREET.
Sugar Trust Stocks Decline
--Reaction in the Gen.
eral List.

CHICAGO, Sept. 4.-Corn hesitated at
the start today, but, buoyed by crop
damage reports, II advanced later, and
wound up strong, dragging the other
markets up with it. May corn closed
1c higher, and September oats &c high
err. Provisions finished strong at lib
eral advances all around.
The price of wheat during the first
half hour of the session gave evidence
CT little change in the Ideas of the spec
ulatOrs regarding its value. Five min
utes after the opening the early orders
from country customers appeared TO be
exhausted, and the price OF December,
which for two or three minutes had
ruled about &c higher than Saturdays
closing price, returned to about that
level again. In the course of the next
fifteen minutes there was another rise.
The receipts at Minneapolis were one of
the features of the situation which
tended to the revival of confidence.
Since Saturday the receipts at the point
named were reported as amounting to
only 553 cars. The result of an expert
ment made by we'll known board of
trade man in feeding wheat to hogs OH
his own farm. showing that he realized
80 cents per bushel for his wheat, was
also bull factor. The market began to
weaken again when the figures of the
visible supply statement were received.
December, which started at $3.50, sold
off to 565Sc and recovered again to SIC,
reacted to 56$s4561sc, when the Wis
lille was indicating an increase
OF about 1000, 900 bu. When the amount
of tie increase was found to be 2,17S,000
bu the market recovered a trif1e OH
some covering purchases by the scalp
ers upon their finding that outside
selling orders were not forthcoming,
even with such tempting inducements.
The strength in corn near the end of
the session put some fresh vigor into,
the action of the longs In wheat and
caused an advance to fraction above
its previous highest point, 57]sc being
quoted for an instant, closing at SIC.
Corn did not show a great deal of
strength Immediately at the opening,
but it did later, and kept the shorts on
the brOiler during the greater part of
the session. In addition to the Missouri
state report issued yesterday, which
reported rs points deterioration in con-
dtion during August, it was rumored,
but not confirmed, that the Illinois state
report had been issued and was equally
bullish. The weekly local bulletin for
Iowa was received by house here who
said that it reported so per cent of the
crop cut for fodder III many of the south
ern counties Of that state, and as high
as so per cent OF it had been SIM
iarly treated in some other counties.
That was perhaps the main reason for
the strength which was developed in
corn. Shorts came in rather freely, but
Iar f,ft ha n l,oaI ph re
stood pat. There was a decrease of
232, 900 bu in the amount on ocean pass
age. The visible supply increased 1l4,-
600 bu. compared with l7,0C0 last year.
May corn, which Saturday closed at
53c. started irregularly at from $3.50
53Ac. Those were the lowest prices of
the day. 1t rose on the first swell 10
sac. and, reacting TO $3.50, it advanced
again to sac, and some few sales at as
high as 544c. closing at Sac.
Today almost everything in oats was
bearish The visible supply showed a
very large increase, l LOG, 900 bu; there
was a good disposition to sell and but a
scant inclination to purchase in any
good-sized lots, but the strength in corn
was more influential than all other
factors, and the market was firmer. The
session was active at times, and during
the day quite fair business was trans
acted. mostly local, however. Septem-
Der started steady at 294c. sold up to
29$4c. was weakened slightly by the
visible supply, and sold back to 294c,
rallied again and closed at 29slc bid.
Bearer hogs, higher corn and buying
| by the AnglO.American Packing COM
| pany were the principal reasons given
| for another considerable advance in the
| price of provisions. The market opened
| firm, gradually improved, and in the
end it was quite strong at the highest
| prices of the day.
Compared with Saturday night JAN
uary pork is 2211ac higher, lard Csc and
ribs l0c higher.
Freight rates steady at lsSc for wheat,
11lc for corn and 11s@14c for oats to
Buffalo.
The leading futures ranged as follows: