St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-02-12
A SLUMP IN GRAIN.
Lower Foreign Cables Caused
Wheat to Take a
Drop.
OFFERINGS SCARED BULLS.
Partridge a Heavy Buyer
Provisions Firm at the
Close.
DECLINES IN A FEW STOCKS
Share Speculation Irregular
and Unsettled for the
Day.
DECLINES IN A FEW STOCKS

CHICAGO. Feb. 1.-Wheat was easy
today under lower foreign cables. May
closing isc lower. May oats and corn
each closed lsc lower, but provisions,
after an early slump, finished at ad-
vances.
Wheat opened weak here because
New York sent selling orders to inaugu-
rate the DAYS business. and those were
for larger quantities than the bulls
were prepared 10 absorb. A Liverpool
cabIegram received by 4 firm saying
that the foreign market after opening
firm. had closed weak. owing TO freer
offerings from Argentine, was given as
excuse for weakness in New York. Re
ceiprs Of primary markets We're again
light there being $4,000 bU against l42.-
coo bu on last Monday. The visible
supply since a week agO showed q de-
crease OF 1.054. 600 bu, compared with
decrease of 1873. 800 on the corresponding
week of last year. May wheat, which
closed at5Salc bid on Saturday. opened
with one sale at that price, while nun
dreds were at the same time offering It
a $3.50. During the forenoon it ranged
between 535sc and 532s053l2c, being about
steady at j312c at noon. The export
ClCarances were again diSappOintingiy
light Late advices from Liverpool
were weak. and it was said were ac-
cOmpanied with selling orders for
wheat Continental markets, on the
other hand. showed an Improvement
upon Saturdays closing prices. Fard-
ridge and Charley Smith were said {.
have been the heaviest buyers today.
The market ruicd weak during the
greater part Of the afternoon. with
prices at times apparently maintained
with difficulty above J2"sc, May closing
at 1850.
Tho corn market opened very heavy
and below the price at Which puts sold
on Saturday. 1t lid not set above the
pat price all day but became weaker
as the session progressed, up to within
half an hour OF the close. There were
sellers OF May at the opening at from
4tat TO 4+9sc, and il had declined to AS
W4+l4C before noon. 1t became dun
after he decline, with a feeling OF
heaVIness generally perVading the
crowd. The demand for shipment, it
was claimed, was very limited. Re-
ceiptS We're light today. but for tOmOr-
row receipts are estimated to show
considerable Increase over the recent
average. The visible supply increased
only 10000 bu as compared with all
increase on l,64y.GO9 bu year ago. The
market recovered some near the end,
with trading at 445sc at the close.
In oats quite d good business was
transacted. and values at the end
showed slight falling off from Satur-
day. The influence Of corn could be
credited 10 having ruled the fiuctua-
tlOnS to great extent. but besides
that there was some Independence to
the market. Some quiet lines were
sold out all Of which was readily alb,
sOrbed by the crowd in general May
opened at pc. sold off to 2S3ic and
was duu and q full 12c off Offerings
We're not large but no inquiry ex-
listed.
The provision market acted III q most
ulaccusJOmed manner. The receipts
OF hogs We're heavier than had ever
been known for one day before. Not
Understanding the enormous supply CT
raw material, The prices of provisions
at the close OF the day were higher
than at the close of the session on Sat
uTday. Heavy buying, presumably by
shorts, caused the reaction. MAY pork
which closed ut Sl0luie on Saturday.
opened this morning ar $3.50. but rpcOV-
cred from that point and closed worth
$lU-l3. May lara, which rested at $3.50
on Saturday opened today at S6.50 and
closed a S5.f2la bid. Ribs dropped Tic
at the moment Of opening, but recOv-
cred mat and Dc besides by the end Of
JhE session.
Estimated receipts for. tomorrow:
Wheat. 1J ears; corn. %: oats. 1855:
hogs 5000 head.
There VIII be no session of the board
OF trade tomorrow owing to the state
holiday 10 commemorate Lincoln s
birthday.
heieadiug futures ranged as follows: