St. Paul daily globe., 1895-05-13
AFTER EARLY DECLINE WHEAT
WOUND UP FIRM AND
HIGHER.
BULLED BY, FROST SCARE
WHICH CAUSED BIG DEMAND
AND DROVE SHORTS TO
COVER.
OTHER GRAINS WE'RE WEAK,
Closing Mt n Decline for the Day
Provisions show Slight 3
Gains.
BULLED BY, FROST SCARE
'THER GRAINS WE'RE WEAK,

CHICAGO, May 11.-After an early
decline wheat wound up firm today
on the frost scare, July closing ssc
higher. July corn closed Ac lower
and July oats 1sc lower, while pro-
visions made slight gains.
Wheat opened at 62Bc to 63c for
July, as against 63Bc at the close OF
the previous days session. That de-
cline was in continuation and in con-
sequence of the effect of decline
on the curb yesterday afternoon ON
the government crop report. Apart
from the government report and some
more rain, the news for the day was
for the most part bullish, and the
market soon began to feel its effect.
The shorts expected to find enough
long wheat for sale to satisfy all their
wants and enough over to keep the
market declining, while they were
securing their profits. 1t was not
that sort Of a market. Frosts were
predicted for many sections Of the
winter wheat belt tonight, and the be-
lief was expressed that while they
are not likely to do more than retard
the hitherto too rapid growth Of
wheat, they may cause the replant-
ing of a good deal of corn, and in that
way sympathetically effect the other
cereal. The shipments from both
coasts for the week, including both
wheat and flour, were 2,805, 900 bu,
against 2,555, 200 bu a week ago. For
twenty-four hours the Atlantic; port
clearances were 395, 900 bu, 3O1, 900 bu
of which was in the shape Of the
raw grain. The foreign markets were
all lower, but that was owing to
American advices, the private cable
grams said. Minneapolis and Duluth
reported receipts of ia cars, COM
pared with III cars a. year ago. De-
creaSes since a week ago are thus es-
timated according to kilograms from
the following placas for their respect
i've elevator stocks: Duluth, 1,4O0,-
900 bu; Minneapolis, 100000 bu, and
st. Louis, 100000 bus Over 100000
decrease is looked for In the. official
visible. The market began to rise,
Immediately after the opening and
continued steadily to the close. From
627sc there was an advance to 6214@
623sc toward the end, with 64Ac the
latest trading price. The prediction
of general frosts throughout the West
and Northwest was largely instru-
mental in giving the mar market its firm.
tone. lntoS ,Gtna
Corn was dull and inclined to go
lower for time, but began to look up
again when wheat commenced to show
such cheerfulness. The opening for
July was at from 5O1ac down to 5O1sc.
and it struck SOC before it reacted any.
It got up to 5Oas@5O1ac,. and from that
declined to 501sc before it made a final
rally to 501zc. The trading price at the
close was 503s@50115c. Receipts were
223 carloads, and the estimated inspec-
ton for Monday is for 296 cars. The
Liverpool market was quoted firm and
I'd higher.
Oats were lower, and for Saturday
fair business was transacted. Free
selling by Patten Bros, Carrington-
Hannah and Bartlett-Frazier caused
the weakness. Toward the latter part
of the session these firms were EN-
deavoring to recover the market by
taking back a portion of their dis
posals. This they did to some extent,
but the rally did not reach yesterdays
last quotations. June started at 2S3sc,
sold at 281Rc, declined to 28c and closed
at 2S3sc. July ranged from 2S14c to 2Sc
and closed at 2814c bid. May for 1896
was very active, and showed consider
able strength when compared with the
nearer deliveries, opening at 291sc,
touching 293sc, and advanced to $3.50
SOC, where it closed.
Provisions closed with slight gain
after a very quiet days trade. Hog
receipts were 5000, and for next week
$4,000 are estimated. Compared with
the previous days closing prices Sep
tember pork is 71ac higher, lard and
ribs each 212c higher
Freight rates are firm at 1Hc for
wheat, 11sc for corn and 1c for oats to
Buffalo, and PIC for corn to Kingston.
Receipts for Monday are estimated as
follows: Wheat, 26 cars; corn, 29S cars;
oats, 226 cars; hogs, $4,000 head.
Chicago Grain.
I. The leading futures ranged as fol.
lows: