St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-03-12
TOO HEAVY VISIBLE.
Sharp Advance in Wheat
Turned Into Weakness
and Decline.
LIVELY IN THE WHEAT P.
Sellers Active--Corn Stub
bornly Steady--ProVi-
sions 2trong.
IMPROVED STOCK MARKET
In London Infused More Activ-
ity Into Deals at
Home.

CHICAGO, March 11.-After sharp
advance on better a.leS the wheat
market weakened under the heavy load
of the visible supply, which did not
show so large dc crease today as was
expectec. and May closed &c lower.
Corn stubbornly refused to decline with
wheat, gaining sc Tor May. but May oats
lost sc. Provisions were strong, max
ing advances.
The struggle in the wheat pit began
with sellers of May plentiful tor mo-
ment at 545sc, as against 55c as the
market was closing Saturday. During
the first TWO seconds one or two tens
changed hands at 54sI@1sc, but in the
next few seconds there were plenty of
buyers at 55c. and after fifteen minutes
of very spirited trading 55zfc was paid.
Then the market became less active.
with some realizing of early purchases.
The receipts at Minneapolis and Du
luth numbered 423 cars, against 49, a
year ago, and EOS on the preceding day
OF last year. The Liverpool marker,
according to The board OF trade
cablegram, had advanced I'D per
cent. A cabiegram frGm Paris
to Chicago house read: Crop
damaged by frost; spring seeding back
ward: think market will advance"
The French country markets were firm
and partially from &c per Blu to &c per
bu higher. Liverpool warehouse stocks
decreased during the last week 224.000
bu. The result of the visible supply
was not entirely satisfactory. 1t showed
a decrease of 1,044,G00 bu, which was a
disappointment 10 those who expected
TO see a reduction of 1900, 900 bu or
mere, A report from Minneapolis esti-
mated the REDUCTION in country ele-
vator stocks at about 700. 000 bu for the
week. Primary Western markets re-
celved $40 bu. The export ciearances
from the Atlantic seaGOard were small
The decrease in the American supply
was more than balanced by an increase
of Lob. Goo bu III the quantity afloat for
the importing countries of Europe. The
closing cablegrams showed iirmneSs
still prevailing abroad, but the apparent
effect of the statistical figures repre-
sen1ing the movement here and abroad
for both the day and the week was
rather disappointing. After they had
been received the price of May wheat
went down 10 54@1545sc. 1t bec.me still
weaker as the session progressed, and
half an hour from The close was down
to 5415c, closing a. 5435c.
Com was firm. with scarcely a weak
spot from beginning to end. The gen
orally downward course Of wheat, after
the middle of the day, did not have
much Influence upon the traders in
corn. They started the market firm-at
4214c bid and 4555ssc bid at the same time.
BeIofelong they had advanced the price
to 4656c, and the market closed at 4615c
bid. The strength resulted from firm
cables and light receipts.
Trading in oats was still very dali.
The course of the market was influenced
by corn. Sales were few and far be-
tween and principally made by scalp
ers. May opened at 29s5915c. sold up
to 2935r. dowd 10 2910$sc, and rested
at 1895 GG2919c. All other futures were
steady.
The provision pit was the center of
more than usual interest. Pork rose on
the first jump from from 15c 10 zoe per
Dbl, and climbed SOC more before the
sports and other buyers were satisfied.
The first bids were at from S1l.10 to
SLID, but the second to secure the
market had to be bid up another zoe, so
light were the offerings. The price of
lard and ribs rose in sympathy. but in
less impatient manner. Lard for May
rose TO Sc. so and closed at s6.57; and
ribs. which opened at $500. advanced
to $3.50 and closed at 50. rs. The closing
price of May pork was S11.4715. a net
gain for the day of 5219c. Hog receipts.
which were less than the estimates,
gave the market its opening boost, and
buying by packers with covering by
shorts did the rest.
Estimated Receipts for Tuesday -
Wheat. 50 cars; corn. 275 cars; oats, $50
cars; hogs, $4,000 head.