St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-02-03
WHEAT WAS AGAIN WEAK.
LIGHT CLEkRAicES, LIeERAL Re
RECEIPTS, 6sLO WEATHER
WE'RE THE CAUSE OE DECLsNE

Light Business on the Stock Ex-
change Confined Within the
Usual Narrow Limits At
tempted Scar Raid on the ~ ar
ket on Account OF the Passage
of Wilson Hin Unsuccessful.
CHICAGO. Feb. .. Wheat opened
lower and afterwards declined. but re-
acted and closed but SC lower for May.
The early weakness was on weaker
cables. light clearances, liberal North
western receipts anu mild weather. The
strength at the close was due to a little
buying induced by the prospect of rain
for the winter wheat belt to be followed
by freezing weather. May corn closed
unchanged, May oats sc higher and
provisions slightly lower all around.
Wheat started weak with May 95c
lower at Gle. Liverpool was quoted dull
and &c lower. and private cables were
even more diScouragmg. Northwestern
receipts, too, were heavier than last
year. Minneapolis and Duluth reported
204 cars, as compared with 40 year
a-Os I nc GA POI CISGI dICCS WCIc again
light, amounting in wheat and flour
from the four principal Atlantic ports
and New Orleans to about 10000
bushels. New York wired that
there was no export inquiry there. and
sent bearish kilograms about lOw-priced
Argentine wheat The selling became
rather free, and prices slid down iazIly
until near the close. Then May reached
63s4c; q fair demand at that figure was
developed, and prices were steady at
the decline for time. Then there came
bullish piece Of news from the weather
man. stating that a heavy rain storm
was billed TO play an engagement in the
winter wheat belt. Following the damp
ness, it was stated severe freeze would
occur, and the prospective damage to
the crop started an advance. Prices
went up with mere alacrity than they
mad shown at ANY previous time in the
session, and May closed firm but &c
from the days top figures. May opened
al 6tc. declined Il, and advanced &c to
. close at 64l4c.
Corn was moderately active at times,
though most of the session was quiet,
fluctuations keeping within &c limits.
The feeling displayed was easy and
prices reacted a still lower level. The
increase in the receipts was the princi-
l..
though the selling for country account
was another factor which aided the de-
cline. Opening trades were at yester-
days closing figures, and, under fair
offerings, sold down Ic, rallied re,
again declined, ruled firm, advanced &c
with wheat, and closed with May at the
days top figures.
The oals market was moderately act
i've and easier early i'll sympathy with
wheat, but with the later strength IN
wheat, prices advanced &c and closed
quiet at fraction better than yesterday,
with May at the top figures OF the day.
The provision market opened firm
and unchanged on a lighter
run of live hogs at the yards
than was expected, with higher prices
for them early. The weakness in grain
was responsible for a moderate break in
the absence OF any support. except in
lard. The filling of an order for pork,
Sowever, sent that product up again To
limited extent. The volume of trading
was extremely light. On the report that
the early advance Iii hogs was lost, and
somewhat free offerings, prices for pork
were driven down, and both lard and
ribs were carried down in sympathy,
but only to u moderate extent. A reac-
ton set in subsequently on little buy
ing, with part Of the less recovered,
but the market sold off TO nearly the
inside price of the day just at the close,
with riUs firm. CumDared with last
night, May pork is 1215e lower, May
lard l0c lower and May ribs TIC lower.
Estimated receipts for tomorrow:
heat, II cars; corn, 49, cars; oats, 50
cars; hogs, 1860.
Ihele leading futures ranged as follows: