St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-01-28
A GOOD DEAL OF POUNDING,
EUT WHEAT STOOD UP AND MADE A
SLIGHT ADVANCE.
Foos BUSINESS DoNEg IN STOCKS.

Hardly Enough Trans actions to
Constitute a Market-A Few
Shares OF New England, West
ern Union, Sugar and ST. Paul
Dealt In Firm Opening
Prices.
CHICAGO. Jan. 27.-Whear stood up
against good deal of pounding in the
pit and a vast amount of tongue ham-
mering on the outside today, and was
still in good shape at Sc advance when
time was called at the close. Corn
acted weak, and lost about S-16c per
bushel of its former value. Provisions
averaged firmer and closed at slightly
better prices.
There was no indication that any
thing would occur to lift the wheat
market out of the rut of the last two
weeks. The routine news of the session
was mostly bulliSh. The receipts at
most points were light, the exports bet
ter than expected; the weather and
crop news was favorable to buYsrS.
Offsetting this was the whipped
condition Of the bulls, the doubt
about the increase in stocks and
the adverse prospect in France. The
public cable was I'D lower for Liver
pool, partly owing, no doubt. to the
French resolution asking the sudden
Increase in the duty Oh grain. The de-
crease of 4T2, 600 bu in and a1oat for
Europe was Disappointing. The increase
in Australian stocks was nearly 2,000.
0J0. Chicago stocks of wheat will in
crease again considerably. On the other
hand, local receipts were but 81 cars !;
Northwestern receipts but 149. against
81 cars year ago. Reports covering
Indiana, Illinois, Missouri, Kansas and
Nebraska say that high winds have
caused bare fields and damage reports
to wheat likely to follow. This was
confirmed by reports TO the Modern
Miller, st. Louis. The dispatches indi-
Gated that fifty boat loads Of wheat
worked for export all points yesterday,
but there was no enthusiasm and only a
narrow market. The May price started
at 63$4 @6335c, with an up turn to 63Xc
for moment, a dip to 6325(G63$lc, and
10 little change for an hour following.
The wheat trade got no help from any
quarter late in the session and closed at
tne low point at 6325c, or &c over last
night.
There was enough reaction in corn TO
entirely wipe out the advance of We'd
nesday and Thursday. The early sales
were $3.50, then off to 3Sc with no rally
better than IS &c to the last half hour
The receipts were on the increase again
and up to the estimate at 152 cars. The
cut rates naturally acted against the
market. This was especially true when
the estimate for Monday was raised to
80 cars. On this, the break to CSC Oc-
CURED. January was quoted at $3.50,
July $500 and the feeling was quite
heavy. Dispatches reporting only Is
and and 20 cars a day loading on Sc v
eral hundred miles of road in Iowa,
where the average loadings are so to Is
cars day, had little influence with the
trade, in view of the big estimate for
Monday.
The trade in oats was unsettled, prices
being slightly higher for a time, but
afterwards easing off. The close was
steady at the same as yesterday for
May.
In the pork market the offerings were
somewhat free and prices started at 215c
decline from yesterdays closing, fol-
lowed By a further d up of SC without
any support. Two or .nree orders then
came in, when the market reacted to
the opening price Some strength was
subsequently developed on the packers
buying, with brief spell of activity,
prices advancing nc. but ultimately
declining to that extent, one of those vino
had bought Offering the market down,
followed by an Improvement of nc.
AT the close the figures were the same
as those at the same time yesterday.
Lard was featureleSs, and the market
closed steady at $3.50 for May, an adj
vance of 219c over'the close of yester-
day. Ribs, on very light buying, ad-
vanced 719c for the day, May closing al
SOTO.
Estimated receipts for Monday
Wheat, rs cars; corn. $40 cars; oats, 81
cars; hogs. 5000 head.
The leading futures ranged as follows