St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-03-31
WHEAT ADVANCED A CENT.
THE CEREAL IN MANY SEcTiJNS DAM
AGED or THE WEATHER..
BUSINESS WAS FAIRLY ACTIVE.

A Big Upward Movement Started
In Wall Street.-The Only Par.
chase; Made on Account of a
New Bull Pool Org lnized by
In ,iders-An Advance OF From
IL to 1 IA Per Cent.
CHICAGO, March 30.-Wheat advanced
1-cent per bushel to-day on very mod
crate amount of buying. 1t closed with
ane. gain of 5s@3lc. There is now no
doubt of considerable injury having
been done to wheat in many sections.
There was much testimony to that effect,
and the result was a firm market. Corn
and oats were fairly firm, bit very dull.
Provisions were strong and quite active
in spots, with higher prices in the end.
Although the cold had greatly mod
Grated, wheat opened firm and &c
higher than it closed yesterday. the
numerous dispatches which had com e
TO hand before the session opened, re-
porting frost damage in more positive
terms than before. were the cause of
the opening firmness. and continued
to he the governing influence III
the market during the remainder
of the session. Liverpool responded
to the decline here yesterday by send
ing quotations I'd lower. The receipts
here were IS ears. Minneapolis and
Duluth reported 222 cars. Clearances
from the seaboard were light, amount
ing from the four chief Atlantic ports 10
only $4,000 bu.
Business was fairly active, and the
shorts, after hesitatlng for about fifteen
minutes, became free buyers. The gen
eral tone among the longs was one of
confident tirmness. and the price had an
upward tendency after the first quarter
OF an hour. May opened at COZ worked
off TO $3.50 sellers, and then gradually
rose to 6OAc 1t reacted to 601ac, ad
vanced to Gle, and held firmly around
6O5Sc and 6O3lc, with an apparent re-
luctance OH the part of sellers to part
with much. 1t became firmer again.
and half an hour from the close was
back up to Gle.
The closing cables were weak. Ber-
lin quoted a decline of % marks and
Paris drop of % centimeS in flour tut
ures and from 5 TO Is centlmeS in
wheat. There were no reports of fresh
cash business here Or at New York.
The market here was quoted 605s@60$4c
at the close.
Corn was dull but firm. and the firm
ness was in the main ascribed to the
improve ment in wheat. The opening
price for May was size, it rose by small
steps to 3734c. and during the greater
part of the session it was alternately
hn
seller prlca. The price rested at 81 C
for May, which shows no change for
the day, and 3S14c for July. which is an
Improvement OF sc.
Trading in oats was very light. There
was but very little disposition to sell,
and even less 10 buy; The cash market
was lower. During the entire session
prices on all futures were higher. May
started steadily at 3115c. sold up to
3119c, back 10 31sSc, and closed at that
price bid.
There was firm feeling in the pro-
vision market after preliminary de-.
cline. The packers appeared anxious
for break at the start, but When they
had secured the decline there were
brokers from commission houses pre-
pared TO take all that was offered. Some
ascribed the buying to Armour chiefly,
but the packers generally, and through
their own brokers, were buyers later.
The small stocks. estimated at 1900
barrels of pork, $500 tierces of lard and
100000 pounds of ribs, acted as a
factor, and probably the principal motive
! behind the buvlng orders. Compared
with last night, May PORK is 1920 higher,
May lard sc higher and May ribs 10c
higher.
Estimated receipts for tomorrow:
Wheat, 40 cars; corn, 240 cars: oats. ITO
cars; hogs, 1900.
The leading futures ranged as follows: