St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-03-27
WHEAT TOOK A Squirt.
COLD WEATHER CAUSES A JUMP nv
MAY WHEAT.
FREE SELLING ATAN ADVANCE.

FREE SELLING AT AN ADVANCE.
Which Caused Reaction, and
the Close Was at a. Gain of n
Cent Over Saturday = Provis.
ions Ruled Dull and Higher
Oats in Good Demand-Corn
Dull at an Advance.
CHICAGO. March 26.-Wheat went up
with a squirt today because of the ell
ergy the temperature had shown in
going down. and the result was an early
gain of 115c for May. There was free
selling at the advance, however, aud,
after nervous, unsettled session, May
cloaed &c from the top, but with gain
since Saturday of 1c. Corn and oats
were shade firmer, in sympathy, and
made gain of about sc each. Provis-
ions ruled dull, but firm. at somewhat
higher than Saturdays closing.
The severely cold weather told with
considerable effect upon the wheat mar
ket. All doubts about the growing
wheat having been jointed were set at
rest as soon as the market opened. In
fact, from the lively leaps that portion
of it that was exposed in the trading pit
took at the start, the operators declared
double jointed. The effect of the pre-
vailing cold weather did not affect all
constitutions alike. Some of the shorts
were rather inclined to make light of it,
and refused to be frightened into cover
ing. Others, however, were thoroughly
alarmed, and bid from 1875 to 59c for
May. as compared with 571sc sellers at
the close of the market Saturday. 1t
reacted to 5Ss4c and rose again, reach
ing .5914c. ali within the first hour.
Trade during the time referred
to was active. with orders from
outside from quarters in the South and
Southwest where wheat was presumed
10 be most seriously tr0St-damaged. The
actual extent of the injury done TO
wheat, it was generally conceded, could
not be definitely ascertained until future
warm weather should reveal it. In adj
dition to the frost scare, the receipts
were light. Chicago got Al cars, Mime
apoliS pol. and Duluth 10. The receipts
for the corresponding day of last year at
the same places were respectively 2SS.
e4S and Is cars The visible supply
showed smaller decrease than the
average of the previous guesses. The
decrease was 1.O96.G00 blu, leaving r.,
10000 blu still IN the visible. There
was decrease Oh the corresponding
week year ago of $4,000 blu, and the
total chen was 1S.2OS.O00 bu.
1t was said that the amount of wheat
and flour OH ocean passage tomorrow
would show all increase for the week of
2,250. 900 bushels: that and the impossi
bilty of determining how much. if any,
damage had been done to wheat by the
frost, made the market rather inclined
to weakness in the last hour of the Ses-
sion. May sold off to $500, but rested
at 5S5l @5S1sc.
There was no life in corn except
what was injected into it from the
wheat pit. That was sufficient to add
3sc to Saturdays closing Value for
moment at the opening, but that adj
vance could not be sustained. 1t
dropped off to abOutthe previous trading
days closing prices, but frmed up once
more on the moderated estimated re-
ceipts for tomorrow and decrease in
tllC NlSiUlSs 4hdN OpCllSd az ot/2Ss SOIu
off TO &c and recovered again to 374c,
closing at SIS 9s74c.
Oats were i'll fair demand and Offer
ings were only small. This, with the
iirmness in wheat and corn, caused
higher prices in oats. May started &c
up from the last quotation Saturday,
sold at 3l1sc, and then, Influenced by
the increase of 100000 bu shown in the
visible supply of oats, declined to 3034
@30Tc. 1t rallied again slightly. and
when The session ended 304c was bid.
The provision market was dull. but
maintained an undertone of firmness.
closing with re gain over saturdays
closing price for May pork and lard,
and &c higher for May ribs. Lard was
influenced to some extent by the pre-
MUM of zoe sellers the month brought
over the May delivery. j. q. Sleever
was a seller of pork to a moderate eX-
tent, and Sam Wolf was a buyer. Steady
prices at the yards and the strength i'll
the grain markets helped the prices.
Estimated receipts for tomorrow:
Wheat, 80 cars; corn, 220 cars; oats, 16S
cars; hogs. 21,0OO.
The leading futures ranged as follows: