St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-03-19
CORN LED The DANCE.
Decrease in the Visible and
Heavy Export Buying
Caused a Rise.
EARLY BREAK IN WHEAT
Followed by a Reaction, in
Which Losses Are Nearly
Wipe Out.
HEAVY BUYING OF STOCKS.
Market Opening Active and
Strong as Regards the
General List.
HEAVY BUYING OF STOCKS.

CHICAGO, March 1S.-Corn led the
dance Oh the board of trade To-Day, clos
ing &c higher for May. A decrease in
the visible supply and reported buying
for export was the cause. After all
early decline, wheat reacted with corn
and closed but &c lower. Oats finished
PC higher. Provisions closed at mod
crate declines.
Wheat started at &c advance over the
price ruling at the close of Saturdays
session. The early news wasNof a mixed
character. Dry weather throughout the
winter wheat country, steadinesS in the
English markets and decrease OF 5000
tons or 224, 900 bu in the Liverpool stocks
since Monday were the items from
which the bulls drew their courage.
Weaker continental markets, favorable
weather for the French crop, accom-
panied by speculative selling orders
from Paris, were the principal items of
the early cables which lent strength to
the bears. The market turned from
having a slight upward tendency to
much more decided feeling in favor of
the opposite direction. Until the Visi-
bile supply statement was received the
weaker feeling which succeeded the
opening strength was not much added
to, but when the figures were all i'll and
the amount of tie decrease was found to
be only S44, 900 bu compared with a de-
crease of l,lSS,00J bu last year i'm the
corresponding week, bearish senti-
ment became pronounced and the price
tumbled to point &c per blu below
what it was during portion of the first
hour Another weak feature of the
earlier news was receipts OF 459 car
loads at Minneapolis and Duluth. Pri-
mary market receipts were 5000 bu.
The export clearances were rather
heavier than for few days back,
amounting III wheat and flour TO $685.
700 Uu. An increase Of 4S0,0 600 bu in the
amount on ocean passage and an eSti-
mated Increase of 100000 bu in the
English visible came i'll on the latter
half of The session and deepened the
feeling of bearishness that had already
taken possession of the crowd NAV
wheat, which opened at from 56Mc to
561sc, had got as low as 55$lc by II
O'ciGck. A Strong corn market caused
reaction in the last hour, May closing
at 5636c. The corn market was at its
firmest after wheat had reached its
weakest, and at no period OF the day
was II coHSpicuOusly weak. Shortly
after the opening it sold sc below
the price 1t was closed at on Sat
urday, but during the remainder
had no chance to get their corn
back, except at loss. Offerings were
light, and the heavier dealers were on
the bull side. Tie market reached its
greatest strength after the publication
of the visible supply statement, which
showed decrease of 1853. GOO bu COM
pared with all increase If 1872, GOO bu
year ago; but the fact that places in
Illinois, whence shipments TO Chicago
had previously been quite free, were
now getting from 1c to l 15c more than
Chicago price from Eastern buyers,
who were exporting via East Boston
and Newport News, was also a strong
element III producing the firmness.
May opened at Ace, improved to 1880
464c, dropped back To 1870 and then
began all advance which became fast
anG furious toward the end. resulting
IL the price reaching 465ac, and leaving
off at 4634 9465sc.
The oats market was firmer. Sympa-
thy between this cereal and corn, with
decrease Of $4,000 bu in the visible
supply OF oats, were principally for
ward III creating the Grmer feeling.
bdl llCtt-rI adtSI SOlu freely duQ pre-
vented the price from advancing very
much. The offerings were taken up
quite readily by the crowd. May started
at 2958c, sold at 2S14@292sc. up to 2915c
and closed at that price.
Provisions turned down Immediately
at the start and ruled weak the greater
part of the day, with a tendency toward
recovery near the end. The range for
May pork was from S12.G5 at the start
down to S11.75. with Sll.95 as the clos
ing quotation. The respective declines
for the day are re in pork and ribs and
&c in lard. Hog receipts were $4,000
head. The weakness was the result of
liberal selling, supposedly in the Armour
interest.
Estimates for Tuesday: Wheat. AZ
ars; corn, rs; oats, 100; hogs. $4,000
cad.
Theleading futures ranged as follows: