St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-02-08

CHICAGO, Feb. THE wheat market
continued its downward courSe today
and landed May %c lower at the close,
with a new low-price record. Free
selling, large receipts. weak cables and
mild weather were responsible for he
decline. May corn closed unchanged,
after an early break and a new low
price record. May oats closed Sc high
er, and provisions slightly higher all
around.
Wheat started weak, with May sc
lower, at 623sc. Cables were lower,
Liverpool being quoted depressed
and I'D lower. Northwestern
receipts were again heavy.
Minneapolis and Duluth 313 cars, COM
pared with 207 on the corresponding day
last year. Primary market receipts of
wheat today were All, COO bn, against
237. 900 blu last week and 353, 600 bu On
the same day last year. Primary mar
ket receipts of wheat for the first three
days of this week were $4,000 blu over
the same three days last week. The
weather was mild and there were no in
dications of weather sufficiently cold TO
Injure the crop. Under this depressing
condition prices declined with slight
fluctuations until they touched 63Bc, a
new low price record. The selling
became free and general, being led by
Lamson, Schwartz-D upee, GeGdes-Kirk-
wood, RumSey-Chandler and Pope
Lewis. Bangs, a trader with a very
large seller, presumably for Seaverns.
opA SaoV,nrnc hipn-alE cold &c did oIco
Armour Il Co.. Eastern wheat and
wheat which had been held for a long
time for country spectators came out
very freely. Bradstreet's decrease of
the visible supply and, the more liberal
eXporI clearanees had little effect in
sustaining prices, and May closed but
sc above the bottom figures of the day.
May opened at 625Sc, advanced sc, lost
5sc and recovered sc to close at 624c.
III corn. still lower prices were re-
corded, the low mark on May being
S6$Ic, and July 372sc. Opening trades
We're at &c loss, and on continued liQui-
dation of long Corn the price was forced
down another Lc, one line estimated at
over 500, 600 bu coming on the market at
this break. There was also free selling
by several of the larger receiving and
elevator interests, and this also helped
uPpreSS values. At the decline the de-
mand improved. And this caused values
to react 56@3c, when the price held
steady for Il time. again Sagged back a
fraction. and closed with no change.
The action of the wheat market and
tie liberal receipts were the principal
factors IN creating the weakness which
prevailed early in the day, and cables
were weak and unfayorable to holders.
I1anrn xrng ntnlNn TlnHnrafn tr06n / N
oats, and, considering the weakness in
wheat and corn, the prices held remark
ably steady. Selling by longs was sur
priSingly light, and this, combined with
the late rally i'll corn, was the chief
cause for the rally of 4@%c from the
bottom figures. The available supply
decreased 269. 900 bu. which also aided
in ti1ming up the market, and May
closed but sc from the top figures of
the day.
Provisions we're somewhat nervous
and irregular early, opening higher and
advancing on a few "shOrtS" covering,
and then losing the advance on the
break in wheat, and recovering it on a
little buying on outside account. A
moderate break followed on increased
scattering offerings, 10 one in particular
selling. The volume of trading was
moderate. A tirIner feeling prevailed
on a little support to the market later.
presumably by the packers and
''shorts," a good advance from the in
side prices being scored. The final
figures were at the outside for the day
for lard, and nearly so for pork and
ribs. Compared with last night, May
pork is 15c higher. May lard 2Ic higher
and May ribs Zoe higher.
Estimated receipts for tomorrow:
Wheat, 81 cars: corn, SEQ cars: oats.
$40 cars; hogs, %. 900 head.
The leading futures ranged as follows:
Omen, Hiph-l LOw-f CIos-