St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-07-29
WHEAT OPENS STRONG AND AID.
VANCES RAPIDLY IN
PRICE.
OVER TWO CENTS HIGHER.
ARGENTINE DROPS OUT OF THE
COMPETITION TO SUPPLY I'M
PORTING COUNTRIES.
| DULL SATURDAY IN STOCKS.
Changers and Sugar the Leading
Features in Active Shares
Prices Higher.

CHICAGO, July 27.-Helped by strong
cables and urgent demands, wheat
was strong today and closed 23ssc higher
than yesterday. Corn was firm, partly
in sympathy with wheat and in part to
the premium being paid for spot corn,
closing 1sc higher. September oats
closed &c higher, and provisions fin
ished with but little change. Wheat
opened strong and quiet, and for about
an hour and a half it looked as if the
rise at the opening would be the OUT
side price of the day. AT the end OF
that time however, the initial Jump
of about &c per bushel was supple
mented by series of spasmodic
bounds, which in less than 10 minutes
added cents per busheI more The
chief reason for the great strength OF
the market was because of Argentine
having at length thrown I'D the
sponge i'll the triangular contest be-
tween her, Russia and this country il,
supplying the wants of the wheat i'm
porting part of the world. The open
ing prlce for September was from roc to
lOasc, and after backing and filling le-
tween those figures up to about 10
O'Clock a little extra demand from the
shorts revealed the scantiness of the
quantity for sale. Upon that discov-
cry it became a question of those who
previously sold who could run fastest
or jump farthest in pursuit of the
elusive price, which rose to 72%c be-
fore the chase was over. AT that figure
enough long wheat was let go to cause
reaction of 1c per bushel, the latest.
trading price being 713sQ1Ac. The re-.
celptS We're 1l3 cars Of which nine were
No. red. The total receipts at primary
Western markets amounted 10 1900
bushels, compared with 1,175GG0 bushels
at the same points last year. The
weeks shipments from both coasts in.
Guiding flour, Were only ,260, 900 bushels,
against $4,000 bushels last week and
3,3eS,0 bushels a year ago. The visible
supply, which last year increased S2255S, ;
0O0 bushels, will perhaps show a small
decrease this week, estimated at about
100000 bushels. The report from the
Northwest in some cases would lead to
the impression of very serious crop
failure and in others to the expectation
of an exceptionally heavy yield. The
amount of business done here on Or
ders from outside was small. The
small Argentine shipments and the
higher cables kept the market strong
throughout the day, despite consider
able realizing.
The corn market was irregular, but
in the main firm even for May de-
livery. Some disquieting reports con-
corning the growing crop are coming
from Nebraska, and although by itself
would not have much effect it directed
attention to the uncertain tenure OF
demand is excellent and to certain
extent urgent. Today;s receipts were
81 cars. September opened at 431kc,
declined to 4212c, reacted to 43'ac and
closed at 4S4c. May, from 35l2c at the
opening, sold off to 35Ac, then rose
to 36M361sc and clo:ed at 36c.
Quite good business was transacted
in oats. At the opening an easier feel
ing prevailed; when wheat advanced
oats also went up: September opened
at 22lAc, sold at 223sc, up to. 22334c, and
closed at 225sc. The provision market
was shade firmer but very dull, and
at the close there was very little
change from yesterdays resting prices
Pork left off at a decline of 24ac and
lard and ribs are each PIC higher. Re-
ceipts of hogs today were 5000 head
Last weeks receipts were 91,454 head,
| against 141,7S4 on the corresponding
week of the year before.
Mondays receipts are estimated at:
Wheat, 120 cars; corn, $50 cars; cats,
225 cars; hogs, 1900 head. For the en-
tire week $4,000 hogs are expected to
! arrive.
The leading futures ranged as to,.
| lows: