St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-02-06
SLAUGHTERED BEARS.
Wheat Takes an Upward Turn,
Closing at Notable
Advances.
THE BUYING BY FOREIGNERS
And Big Decrease in Receipts
Had Their Effeet--Pro-
visions Strong.
HE BUYING BY FOREIGNERS
NO ACTIVITY IN STOCKS
Speculation Stagnant, and, as
a Result, Heavy Declines
Are Recorded.

CHICAGO, Feb. 5. - Wheat turned
viciously OIL the bears and short sellers
today, advancing lie for May. The
strength came from better cables and
reported buying by foreigners at the
seaboard. May corn closed Yc higher.
May oats &c higher and provisions at
advances.
May wheat, which closed yesterday
with sellers at $3.50. was wanted at the
opening this morning at from 53c to
$3.50 1t rose to 544@5436c, but could
get no higher for an hour. Later, after
selling down again to $3.50, it advanced
to $50 (0535sc, and after another slight
reaction 1t rose TO $500, and was bring
ing the latter price about 1890. The
Chicago receipts were twenty three
cars. against 14l year ago. and Mime
apolis and Duluth together reported 1876
cars, compared with 1913 last year. The
total amount received at primary mar
ket was $4,000 bu, compared with no.
COO on last Tuesday and 100000 last
year. A most significant feature of the
at winter wheat points was that not a
buShel was received at st. Louis, and
shipments f1om there were $4,000 bu.
The export clearanceS from Atlantic
ports comprised $4,000 bu of wheat and
The equivalent of us, 900 bu in the shape
of flour. The statistical figures of the
domestic movement were fav0ra bic TO
holders. The foreign orders to buy
were, however, the most potent agents
of the strength displayed. New York
reported acceptances of cable offers
made yesterday afternoon and fresh
bids of 1c per blu advance over the
limits set OH Saturday last Firm, with
upward tendancy was the general tenor
of advices from Liverpool Paris
quoted moderate advance in remote
futures of flour with wheat unchanged,
while Berlin quoted l mark gam in
June wheat and change in early fu-
lures. The buying here was firm, and
May closed at 55Ic.
The corn market started without any
bias in either direction. IL soon. how-
ever, began TO develop considerable
strength. and in the end led the advance
in the grain markets. Receipts show a
tendency to run light, with indications
of anxiety among the shorts. The cash
demand was good both by local con-
Sumers, Warehousemen and shippers.
Receipts To-Day were 20 cars and toInor-
rows receipts are estimated at only 100
cars. Primary market receipts alto
gethcr were only $4,000 blu, compared
with 10000 bu Oh the corresponding
day of the year before. Nav sold at the
opening at 1890 diSparingy, but
worked steadily upward.
Oats participated in the fieneral firm
ness, and fluctuations were principally
Influenced by the higher prices in the
other markets. A fair business was
transacted. There were not many more
oats offered in the cash market than
could be easily consumed, and with
strength, the principal feature here, it
extended quickly TO the speculative
crowd. The stocks of contracting grain
in Chicago elevators showed decrease
of $4,000 bu since last week. and was
credited with assisting the advance. May
sold from 2S14c to zoe, and closed at
2SX@29c.
he provision market was firm but
light. The receipts of only $4,000 hogs
instead of &c. 1000, as estimated, gave the
market a lift at the opening, and the
buliishneSS OF the grain market ad-
vancing in quiet but determined way
during the remainder of the session. |
May pork, which closed yesterday at
1890, began today at 50. 95 and ended at
$40 bid after sales up to S10.05. Lard
and ribs closed with sc gain each.
Estimated receipts for tomorrow:
Wheat, 81 cars: corn, 100 cars; oats, LOT
cars; hogs, $4,000 head.
The leading futures ranged as follows: