St. Paul daily globe., 1894-03-21
MARKET QUIET AND FIRM.
nor MUCH ACTIVITY ~ WHEAT YES
TERDAX.
TENDENCY TO HIGHER PRICES.

II Z
Prospects of a Cold Wave, Liberal
Clearances and Small Amount
Afloat for Europe Helped the
Price-Ccrn and Oats Were
Strong Provisions Remained
About Steady.
CHICAGO, March 20.-Wheat was firm
but quiet today. closing &c higher for
May, after range of only 1ac. The
prospects of a cold wave, fairly liberal
clearances and the. small total afioat for
Europe helped the price, while the
warm rains, lower cables and free SELL
ing on the hard spots prevented
marked advance. May closed only &c
from the top. Corn was stroug, and
toward the close oats were very strong,
With net advance secured in corn of
&c, and s4@Sc in oats. Provisions
made q fair advance early, bat lost
nearly all of it before the close.
The developments of the market news
during the forenoon averaged more
favorably for wheat bulls. The price,
after hanging for over an hour within
Lice of the closing quotation OF the
previous afternoon. began 10 respond
slightly to the bullish features of the
mornings news. There was no eD-
couragement in, the early cablegrams
which reflected the previous days weak
ness here. The Northwestern receipts
were little lighter than on the day be-
fore. Reports from Missouri, Kentucky
and Tennessee said that wheat was
jointed and therefore easily susceptible
of damage from late froSts
should they occur, and the weather
bureau here coming out with
prediction of a cold snap. caused enough
apprehension among the shorts to in
duce some cautious covering of their
exposed contracts. The New York
c.earances of yesterday were quite lib
eral Of wheat and flour. which likewise
helped the price little when reported
that the total put af1oat for Europe was
5 6S2, GOO bu, which is at least 1.500. 000
bu under the estimated weekly require
mentS of the importing countries. Un-
der The combined influences of the fore
going, May wheat rose from 57al@573sc,
around which it lad been playing for
half an hour, to 5S11sc. The business was
rather light, principally on local ac-
count, Dut with some trade
from New York, chiefly in the
way of buying, and with some or
ders from st. Louis on both sides
of the markets. Bradstreets usual
weekly estimate Of the change in ware
bD,e., fhrouuhpuf fhl. world and
afloat for Europe gave total decrease
OF 1,94S, coo bu. The same authority esti-
mated the decrease oil the week precrd-
ing at 6:353. 600 bu. There was continu-
alton Of The inquiry for cash No. 2Sprine
wheat here. with $1,000 bu reported
worked by Boyden u Co. carly in the
session. 1t was said that there were
orders i'm the market here for over 500.-
600 bu of No. spring at &c under the
price for May, which, so far, the buyers
had not been able to secure at that
limit. The closing cables brought
slightly lower quotations. The price
almost stood still at 511sc for forty five
minutes in the last hour Of the session.
and OF July 59$c.
The corn market was firm and made
slight gain onthe Liverpool advancing
and the expected receipts for tomorrow
show large reduction from the recent
average. There was also a brisk de-
mand from shippers. The opening price
for May was $3.50, and gradual ad-
vance to size took place. The advance
was well sustained throughout the re-
majnder of the session.
A fair amount of business was trans
acted in oats at higher prices. The
firmneSS in corn and a stronger cash
market were also favorable in retaining
the slight strength that developed early.
May started at q C up from Yesterdays
latest quotation at 308c, and sold up to
3O3Ic. Toward the close the market ad-
vanced to 3O7sc, and closed with sellers
at 30sl@30Ic The late advance was
caused principally by Carrington-Han-
nah, who bid the market up to 1920
when shorts were bidding freely.
The provision market was firmer al
the opening, due to the receipt of only
$1,000 hogs, whereas 2l,000 had been the
previous estimate. There was some far
ther advance following the gain at the
opening. but the packers showed dis
position to sell at the better prices. Wolf
WAS among the prominent buyers OF
pork early in the day. Armour " Co..
later OH, were sellers OF ribs 10 mod
crate extent, and Beazley was buyer,
for the Cudahy Packing company,it was
thought Estimated receipts of hogs
for tomorrow are $4,000 head. Pork Was
relatively frmer than lard and ribs. In
LARD there was slight pressure to sell
as the market was coming TO close for
the day, and all the previous advance
and 215c besides was lost.
Pork, after gaining l5c, closed at the
modest advance of sc. and ribs, after "a
rise OF nc, left off at yesterdays clos
ing quotation for May.
Estimated receipts for tomorrow:
Wheat. 90 cars; corn, 100 cars; oats, $50
cars; hogs, $4,000.
The leading futures ranged as follows: