St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-07-11
PUSHING UPWARD.
WHEAT RECEIVERS TWO AND
THREE-QUARTER CENTS
in ITS PRICE.
IN THE PIT.
DEMAND THAT,
WITH ADVERSE REPORTS,
STARTS AN ADVANCE.
HEAT AND FROST BOTH HELP.
Corn Closes With n Gain of One
Cent on the Opening
Figures.
HEAT AND FROST BOTH HELP

CHICAGO, july NV neat ana corn
opened in an excited manner today,
and at much higher prices than they
closed yesterday. Corn did not close
quite SO strong, but had still 1c of
the days gain adhering to it when the
session ended. Wheat is 2Ac higher
than it closed yesterday. Oats are up
cent for September delivery, and
even pork rose out of a fellow feel,
ing for its speculative sisters. Wheat
got it's boost chiefly from crop dam
age reports from the Southwest, and
the other markets willingly followed
wheats lead. Nearly every one in the
pit at the opening wanted some of the
articles on the basis of from 11sc to
21sc higher than they were willing to pay
for it as the session was coming to
close yesterday, and only a few of
them could get away. Yesterdays
trade had apparently cleaned the
crowd OF long wheat, and not until 2a4c
advance over yesterdays closing quo
tations was being bid did enough come
out to satisfy the tremendous demand
that had grown up in the night. In
addition to the recovery from the nerv-
Gus condition into which the traders
had worked themselves, the news from
age by both heat and frost Well au-
thenticated reports were received by
several commission houses of heavy
froatS in several sections of the spring
wheat country yesterday and also from
correspondents in the Southwest com.
planning of damage to wheat in the
shock from the frequent rains. The
receipts here and in the Northwest
We're light. The exports of wheat and
flour from the four principal Atlantic
ports amounted to $4,000 blu. Liverpool
was quoted weak and 11ad per Genital
lower for spot wheat. 1t closed firm
at led recovery. Berlin came - mark
lower, and Paris slightly lower for
flour and 10 confines higher for wheat.
There were numerous offers cabled
here for both wheat and corn on the
basis OF yesterdays closing prices,
which could not be executed on ac-
count of the advance. What the gov
ern me "a say regarding the
crowd thinking and guessing in the
afternoon, and although they bid up
well for wheat the market was very
active. The opening of September was
at from 6S4c to sac, with very little
10 be had until 65c and over was bid.
1t got as high as $3.50 before the de-
mand Slackened,. and then dropped
back to 64Ac on the closing out of
trades for two firms which announced
themselves as unable to protect them
Inc news from the Northwest was
generally confirmatory of the damage
which it was feared had been done by
both heat and frost to spring wheat
and the dispatches We're so numerous
and from so many sources that the
trade could but believe there was sub
stantial reason for it. The price
touched was 65zsc for moment. and
was being traded in at 652s0651bc IS
the session ended.
Corn opened eXcitedly strong and
With sales at the first rush covering a
range OF from 43 to 45c for September
ard from 36 to 371ac for May The two
extremes of the days range were made
at the moment referred to. September
did not again sell as high as 45c or as
low as 43c, but it declined to 4S&sc in
very gradual and irregular manner,
ana that was the value at the close, and
May left off at 36Ac. The stronger
1eellng was due to the apprehensions
OF possible damage from frost on
northern edges of the corn belt yester-
day and on the day before. The re-
ceipts were 127 cars by rail and S0O
bu by canal. The Liverpool market
was quoted from &c to PC higher and
numerous orders were received from
there which, however, the advance
prevented being filled.
me market for oats was active from
beginning to end. The general firm
ness In other markets was also to be
found in oats, only not to such an ex-
tents. Shorts were taking in freely to-
day, consuming stuff offered by the
crowd. Cudahy was again the prin-
cipal buyer. September started at
from 2254c to 291sc, sold at 223sc, ad-
vanced to 2414c and rested at 231sc
The provision market was firm at the
opening and made an advance of about
l0c in pork at that time, subsequently
a decline of 25c and recovery of the
same amount left the price Ice higher
at the close. Lard was inactive and
weak and closed 10c lower for the day
Ribs also acted heavily and lost TIC
of their previous value. The pork deal
was Influenced to some extent by the
strength of the wheat market. Hog
receipts were $4,000 head today and the
same is estimated for tomorrow Esti-
mates for Thursday-Wheat, SO cars;
corn, 375 cars; oats, 40 cars; hogs,
%, 600 head.
The leading futures ranged as fo,.