St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-01-20
new LOW-PRICE RECORD.
WHEAT INCLINED To MAKE VERY SUR-
PRISiRG BREAKS.
NO HOPE GIVEN TO BUYERS.

A Bull Day ON the Stock En-
change-The Grab for the New
Bonds Inspires tBuying Conf
dence-Orders From Abroad
and at Home Were Received
by Brokers.
CHICAGO. Jan. 19.-Wheat today threw
another Shoveful out of the hole it
seems TO be digging to bury itself in.
1t made a new lOwest-prlce record.
May selling at 641sc. The closing price
was 641 5@645sc. or 3sc under the latest
quotation on the day before. Corn was
comparatively steady. leaving off at sc
decline. Provisions were quite weak;
pork dropped 25c of its previous value.
The conditions for buyers do not i'm
prove. Wheat appears to be declining
Of its own weight, and it is certainly
getting very material help from the
bears. Stocks are still on the increase,
and are SO large as 10 outweigh all else.
Chicago yesterday had receipts of 121,
600 bushels, but shipments are only
5000 bushels. Northwestern markets
this morning had 333 cars, and this con-
Siderably exceeded receipts of last year.
The liberal receipts started calcula-
lions tor another increase in the visible
supply. The higher cables from
Paris recently are explained as the re-
suit o. a new customs committee TaVor-
able to higher grain duties. There
were no immediate signs of hard
weather. Various suggestions were
made TO explain why wheat bought
yesterday with apparent confidence
was for sale without reserve when trad
ing started. The cause was regarded
generally as almost entirely from local
speculative conditions. May opened at
64}se, declined to 6415c, but rallied TO
Gaze at the close, on buying by Pard-
ridge and Poote.
III the market for corn trading was
light and almost exclusively local, with
price changes limited To &c range.
The temper of the local crowd was
rather beariSh at the start, Influenced
some by lhe weather and the action of
wheat, opening trades being at H@4e
decline, and under modera te offerings
sold down another &c. At the decline
The demand improved. and the car lots
for tomorrow coming i'll light at $50
cars caused prices to react. the market
recovering the early decline. Later
prices ruled firm and closed with but a
May. then came decline to 3754c, but
the market finally frmed and closed at
3Sc.
In oats there was a moderate trade
and an easier feeling, but the market
was narrow and no striking features de-
veloptd. Prices tiuctuated 4c and
closed at Is C lower Than yesterday.
Provision matters were reversed with
respect TO the action of the market as
compared with its yesterdays course.
Today hogs were quoted higher, and the
products declined. Yesterday, OIL the
contrary, with decline in hogs, pro-
visions made an advance. The early
weakness in wheat was given as the
cause of the drop i'll provisions. a good
many people from the wheat pit made a
rand on pork when the former market
had made lis first break. May ranged
between SI3 and $3.50, and closed at
Sl3.0215. When the market began to
decline it caught stop-loss orders at
every 215c down from $500. Lard and
ribs followed pork.
Estimated receipts for tomorrow
Wheat. $50 ears; corn, $50 cars; oats, $50
cars; hogs, -20,O 600.
The leading futures ranged as follows