St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-02-18
WHEAT WAS RATHER FIRM.
COVERING BY SRORTS MOVES THE
CEREAL UP A FRICTION.
sTocK MARKET EEATURELEss

Dealings Confined to Five Stocks
Sugar and ST. Paul Were The
Only Active Stocks-Liquida-
ton in Whisky Continued,
Running 1t Down Over a Point
The Weeks Changes Slight.
CHICAGO, Feb. 17.-Wneat was gen.
orally firm today and closed with &c
gain for May at 59c. Covering by
shorts, less pressure to sell, smaller
receipts and better cables were RESPONSE
bic for the better feeling. May corn
closed sc higher, May oats &c higher
and provisions slightly higher all
around.
The wheat market opened without
animation and apparently with few or
ders in the market. May during the
first half hour sold of from 5S54 to 5o3sc
and up to 59c. The volume OF trade
was much higher than for a week past,
suggesting that ANXIOUS holders mad
been Quieted and aggressive short sell
erS satisfied Tor the time. The early
market news was not all of one charac-
ter; both bulls and bears could pick
from it some palatable morsel.
The receipts for the day and
the cables were fairly satistac-
tory TO the bulls. The weeks
shipments and dullness Of business gave
comfort to The bears. New York re-
ported that foreigners were fair buyers
of wheat there early in the day. The
weeks clearances from both coasts
amounted in wheat aud flour together
10 100000 bushels, the lighteSt for any
week since January, 81. The prices
reached 1915 C for May before ii met with
a reverse. AT the price uamed, how
ever, there was more for sale than was
wanted and it Sagged To $3.50 before it
again met with surplus of buying
orders. Exports were more liberal than
for several days and TO that was
aScriOed rally when succeeded the
reaction and which again carried the
price up to 591oc. Near the close 594c
was reached for a moment, and that
was followed by reaction OF &c, SOC
being the trading price as the market
closed, with May &c from the top. May
opened unchanged at $50, declined &c,
advanced sc, then Sc, declined &c,
advanced &c and reac Led ~ to close at
soc.
In corn a moderate business was
transacted, the most OF which was be-
tween room traders, fluctuations for the
day covering 14Gy$5c range. The feel
Ing displayed was steady. and no essen
Iial changes occurred in values. The
opening was rifle above the opening
of yesterday, and after selling off &c,
rallied Ease, Influenced by the up
turn in wheat at the time. Later the
price receded little Oh the car lots Tor
Monday coming fairly liberal at $40 cars
and wheat easing OFF caused corn to
sympathiZe. The price held steady,
however, and closed with May but &c
from the days top figures.
There was light trade and stronger
feeling i'll oats due to fair buying by
heavy traders, and to the light offerings.
Prices advanced 18@4c, and closed at
the top. The receipts were only 81 cars,
which aided i'll frming up the market.
The receipts OF live hogs at the yards
were again below the estimates and
prices were slightly higher for them.
As result provisions opened steady,
about a point above yesterdays closing
figures, but eased off to a moderate eX-
tent OH the offerings, which were light.
being III excess of the buying, the local
crowd realizing. On the strength of
wheat the market frmed up again
and then declined on further realizing.
LdteI vi lHe OneiiuSS Uecdlue quite
scarce. and as consequence the mar
ketS advanced to the outside prices of
the day, very firm feeling prevailing
in response to the continued strength in
wheat There was very little doing
during the last half of the session, and
a strong feeling prevailed at the close,
with prices at the days top figures.
Compared with last night, May pork is
219c higher; May lard, 215c higher and
May ribs PC higher.
Estimated receipts for tomorrow:
Wheat, 60 cars; corn. $50 cars; OATS, 125
cars; hogs, $4,000
The leading futures ranged as follows: