St. Paul daily globe., 1895-04-30
WHEAT FEVERISH.
UpwardTen deney Continues.
Although Large Lots Are
offered.
JULY CORN WAS LOWER.
May Oats Decline, and SO
Also Do PrOviS-
ions.
STOCKS WERE MORE ACTIVE
1ndustrials in Greatest De-
mand, Sugar and Tobae-
co favorites.
STOCKS WERE MORE ACTIVE

CHICAGO, April 29.-The wheat mar
ket was extremely feverish and irreg-
ular today, and, with the exception of
a momentary drop at the opening, it
ruled higher than Saturdays closing
prices. July ranged from 6312c up to
651sc, and closed at 6i7sc, or q advance
for the day. 1t was a broad market,
with the professional traders selling
out their long wheat and the country
picking it up where the knowing ones
dropped it.
July corn closed nc lower, May oats
CSC lower and provisions at slight de-
clines. There was only one solitary
fresh bull feature in the early market
news concerning wheat, and that was
swamped by the accumulation of bear
ish features, and=the market opened
with everybody apparently bearish, and
offering July wheat for sale DIT from
6S1sc down TO 631ac. The rank and file
kept selling for a matter of five min
uteS or more at between 633sc and 63$4c,
but they were surprised at finding so
many ready buyers for their wheat.
They became anxious, and in another
five minutes were thrown into a wild
whirl of excitement, battling with each
other to get back the wheat they had
so confidently sold.z In about half an
hour from the opening the price had
shot up to SOS for July, or 25sc above
the lowest it sold for at the start, and
1&4c higher than at the close of the
regular session on. Saturday. The
cables supplied the only fresh motive
for r-highef prices at the start. On the
other side of the account were receipts
at Minneapolis and Duluth of 514 car
loads, compared with only 199 on the
corresponding day the year before and
the clearances from Russian ports of
100000 bu, from Argentine ports for
the same time 1.1S5,0O0; total receipts at
primary markets in this country since
Saturday Of 412O0O bus against 315, 900 bu
on the previous Monday and -23S, coo bu
on the corresponding day on the Year
before. To that collection of bearish
figures is to be added the fact that
rain fell in generous quantity since
Saturday in Nebraska, Iowa and the
Dakotas.
Armour'S brokers bought heavily on
the soft spots, and to cash purchases
were credited much of the scare of
the shorts. After the rapid advance
at the opening, the price began to
nuctuate very irregularly. July from
6j%sc, dropped back to 641ac, rose to
655sc, declined again to G45sc, and once
more rose to 651sc before it again be-
gan to break. The visible supply de-
creased 2,S50,0G9 bu, compared with a
decrease of ], ,S42 600 bu a year ago, and
now shows for the first time this sea-
son total quantity in sight less than
at the corresponding time on the year
Setore. The above decrease of 2S50-
900 bu demonstrates the fact that the
S<reat demand that was reported from
S4terier mills and the amounts taken
-nt-. from r,ap iT1HS 10
that alleged demand amounted in a
week to only 400, 600, as 400,G00 bu of the
weeks decrease in the visible was
comprised from the exports. The price
Tor July dropped from $3.50 after the
visible supply statement was received
but worked up again to Csc, and
closed at 647sc sellers. The closing
public cables came firm and high, sub
stantiating the early advance, and the
market here took some comfort near
the end in the firmness of foreign
markets. The corn market was fairly
active, but weak, considering the
strength in wheat. The fine-groWing
weather wasat the bottom of the weak
ness, as 1t induced good many in
the country who held long corn here
to sell it out. The trade consisted
largely in changing the May hold
lngs into July. Receipts were 277 cars.
and 400 cars are estimated for tomor-
row The opening price of July was
bulge in wheat to the extent of rising
to 1880, but subsequently on the re-
ported widespreads rains it fell off to
47isc, and closed at 47&c The market
Tor oats was very active. AT the start
prices We're lower and the tone very
weak Darlington Hannah was sell
ing and the crowd did likewise. Shorts
took advantage of the lower prices,
and, with quite free buying, rallied
the. market. Long stuff was poured
on the market in great quantities, and
the price again dropped May opened,
from 2S14c to 2Si@c, sold at 2Sikc up to
2S3sc, down to 2S7sc and closed at that
price. -
The run of hogs at the yards was re-
ported at $4,000 head and the price 1Oc
lower: On that provisions opened at
a decline in July pork of 171ac, de-
cline IL July lard of T1sc, and in July
ribs or Zee. From the opening prices
there was very little change during
the. remainder of the days business
with the following declines established
at the close: In July pork 1Oc; lard,
712c and ribs, 21sc.s
Estimates for Tuesday: Wheat, 67;
corn, 400; oats, 24O; hogs. 20. 600 head,
The leading futures ranged as fol-
lows: