St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-02-07
CORN. LED The DANCE
Liberal Buying and Vigorous
Covering Of Shorts
Caused Advance.
OTHER CEREALS FOLLOW.
Good Gains Shown in All
Cases--PpOViSiOnS
Heavy.
OTHER CEREALS FOLLOW.
WAITING MARKET IN STOCKS
Spectators Hanging Back for
News Regarding a
Bond Issue.

CHlCAGO, fGU. O.-Alueu by uUcIdi
buying and vigorous covering by shorts
the corn market led the dance on the
board today and at times to rather
merry tune. Corn closed with a gain OF
15sc and wheat &c per bu. Provisions
footed it heavily, but managed to work
their way up TO trif1ing extent. Oats
flushed &c higher for May.
Wheat opened weak at &c per bu
lower than it closed yesterday. The
chief reason for the opening weakness
was the small amount of actual cash
business reported as having been done
at the seaboard yesterday, and the fact
that much of the buying which caused
yesterdays advance here was credited
to the influence of the improved foreign
demand. Everything received by wire
III the first two hours Of the session was
bullish and an advance soon succeeded
to the opening decline.
The receipts OF wheat at the primary
markets of the country were almost
Sensationally small; small, IN fact. and
exceedingly so in comparison with
those of the last two years. The total
primary market receipts were about
$4,000 bushels, compared with 16S,000
bushels on Wednesday of last week and
week of the year beore.
The early cablegrams quoted Liver
pool I'D higher but rather "toppy."
Paris was 10 centimes higher, and Ber-
lin l4@l13 marks higher. Bradstreets
made net increase of $4,000 bushels
in the stocks of the world. The closing
cables came weak from Liverpool and
quoted decline of ia from these
opening figures. Paris was unchanged
aud Berlin had but mark of its early
gain.
The strength displayed by corn was
very helpful to wheat, and caused
further advance alter that which had
first started from the early strength of
foreign markets and the small receipts
was apparently OH the turn. The weak
ness of the closing Liverpool cable
dulled the buying ardor and caused the
market to act rather heavy in the last
hour of the session. From $3.50 at the
start the price of May dipped to $3.50,
then rose to 54c and worked down again
to 5312c. Near the close it was quiet at
1890, but the strength in corn again in
tiuenced the price, and May closed at
54c.
Corn opened with but little change at
44c for May, and, Influenced by the
early weakness in wheat, touched 1870.
At that price there was much more
stuff wanted than was offered. and the
price started up with whirl, shorts
covering vigorously. The market began
to sag after remaining at 45(045118c, and
for 4 time acted heavy, and dropped
back TO 1870. About ten minutes from
the close buying was renewed with more
vigor than before, and in the end the
price was 4515c, and the full excited
traders buying and selling at that when
the closing bell sounded. Through
billed corn was in brisk demand in the
car load market at 115c advance. Buy
Ing orders from st. Louis were numer-
Gus.
Oats met with good sale and under
a generally urgent demand, and i'll
sympathy with corn, rose higher. May
sold from 29c (the opening price, to
2oI, and then gradually advanced to
2912, at which price it closed. The
cash market for oats, while not very
active, was considerably tirmer, and
COulu Uo ClSQlleu Will uCIplHS tuO
advance in the speculative crowd The
storm for tonight rather
encouraged holders to await develop.
ments and perhaps obtain better prices,
as the receipts for tomorrow are fixed
at only 45 cars. The provision market
was quiet and unimportant. The
fluctuations appeared TO be controlled
entirely by the course Of the grain
and as they were in the
main strong and the receipts of
hogs less than expected, pro-
visions ruled firm. May pork
opened at S10O719, as compared with $40
yesterday afternoon. 1t rose to Sl0.22H
and closed zoe higher at 5000 May
lard rose 2119c at the opening and did not
vary from that over 2115c above or below.
1t closed at $6.G719 as compared with
$685. Yesterday. Ribs closed with sell
lers AT $5.S211a against S5.2255 yesterday.
Estimated receipts for tomorrow,
wheat, Is cars; corn, SO cars; oats, As
cars; hogs, $4,000 head.
The leading futures ranged as follows: