St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-04-08
HEAVIAEss IN WHEAT.
IT WAS A WEkKER MARKET c0L0RED
BY CROP REPORTS.
TRADING IN PROVISIONS SLOW.

|
Stronghold Bank Statement
New York and Chicago Clear
| fngs Show the Increase of
| Business Confidence-Expor
| and Imports Of Specie.
| CHICAGO. April Tt was weather
market in wheat, with yariegated crop
reports thrown in. The majority of the
reports received today made quite light
OF crop damage. and the trade gave Ear
TO that version of the story. The feel
+ Ing was heavy, ana, while trade was
|, light, there was less timidity shown by
short sellers. AT the close May wheat
showed loss OF about &c. The spread
between May and July is now L nc.
Corn was weak. and left off with loss
for the day of &c. Oats were firm for
near deliveries and weak for the more
deferred. Provisions were in the main
quite firm. After the close of regular
session OF the board yesterday wheat OH
the curb was very weak. but senti
nent had turned again to the bull side
before trading was resumed. May
sold privately yesterday as low as 635sc,
but the trading at the opening in the
pit was at GIG, with some little as
| high as 6413c. The market kept steady
at CHG for some time, but there was
some nervousness on the part Of the
longs. as the sellers appeared to be act
ing with such confidence. There were
light rains i'll Northeastern Kansas, with
an indication of those spreading, and a
! majority of the crop reports which came
In were inclined to minimize the amount
OF the damage done by the freeze. For
elgn news was not encouraging. mas
much as the great recent strength
of the market here had only caused
about Id advance Ill Liverpool.
From Frankfort, KY, the reports were
that the damage was being greatly mag
nlhed, and a dispatch from farmer
WHO works an extensive area near
Louisville was that there was no dam
age of any extent. Missouri wired that
1t was raining there today and that the
wheat prospects were fine. Other re-
ports from many widely scattered local
tiles were in similar strain, and the
market ruled weak in consequence. An
attempt to sell 100000 bushels by
George Baldwin resulted in drop
from 6414c to 63lsc in less than two
minutes. As soon rs the last $4,000
bushels of the lot referred to was sold
and The crowd saw there was no more
to follow the price quickly recovered
again to 6i1Sc. After that and up to
the close business was dull, but the
tendency continued to be toward a
/ lower level. There was another drop
which carried the price off to 6411s9c, fol-
lowed by reaction to 63a6c. and the
latest transaction were at that price,
but there were more sellers than buyers
at that as the bell tapped.
Corn opened from 1504c lower than
1t closed yesterday, anu In The course of
Nthe day declined 11se more. and closed
with loss of &c. Receipts were not
heavy today and little is expected for
/ Monday. Trade in the pit was light,
without any prominent transactions on
eSeither side of the market.
p While only limited amount of buai-
hess was transacted in oats, the market
remained firm. The cause of this
strength is probably due TO the effect of
the crop reports, which have brought in
"a great many buying orders. May closed
at an advance OF 1scoyer yesterdays
i latest quotation.
Trading i'll provisions waSWithOutS spirit
and of moderate volume. Prices were
firm al the opening, but that was fol-
iOSeu ny d pellou III WEAKNESS luuuCeu
|; by frees offerings of lard by Catfin,
White and others. Later. on al,atteInpt
TO buy at the slight decline occasioned
by the selling of lard referred to, the
market ruled firmer, and prices adj
vanced bevond yesterdays closing prices
and rested with slight advance. Com
pared with last night May pork is UNI
changed, May lard is 219c higher and
May ribs nc higher.
Estimated receipts for Monday:
Wheat. 50 cars; cUrn, 1876 cars; oats, 120
cars; hogs, $4,000.
Ihp leading futuras "a nued follams.