St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-04-02
SAGGED BY RAINS.
Breaking Of the Drouth Has
Caused a Breaking OF the
Market.
all THE CEREALS DECLINED
Closing at Fractional Losses
for the DsY--Provisions
Weak.
TRADE IN THE STREET GOOD
cut Speculation Was Unset
tied and the List De-
eidedly Heavy.

CHICAGO, April 1.-The rains
which broke the drouth also broke
the wheat market today, and May
closed sc lower. May corn lost 8c,
May oats &c and provisions finished
at declines. Wheat started with a
AO1c break today on the heavy
rains in the winter wheat belt. The
market was very much agitated at
the opening, and anywhere from
541sc to 55c for May was being
asked and bid in different parts of
the room at the same moment, but
the price soon began to steady itself
at around 54Ac, with more buyers
than sellers at that. The visible
supply figures that were received
supplied a move for accelerating
the covering operations of the shorts
and the price gradually worked up
on the encoura cement thus given
to it until it touched 55Ac. The eX-
ports from the Atlantic ports were
fairly liberal, amounting in wheat
and flour to about 100000 bu, so that.
along with some talk of the recent
advance in silver being a benefit to-
wheat, they were of assistance in
steadying the market after its first
break. Primary market receipts
all told were 900, as against 431 900
blu last year. The decrease in the
visible was given as Last, 900 bu The
quantity of wheat on ocean passage
decreased 100000 blu. The visible
supply figures given weakened val
ues when first posted, but later
were regarded as somewhat bullish.
Owing to that, the price was well
maintained at about 55c, notwith-
standing rather easy foreign mar
kets. The changing of long wheat
from May to July widened the
spread between the two. May closed
at 551se bid and July at 56lIc The
Orange Judd Farmer says that the
present general condition of the Win
ter wheat is 65.3, which is below the
condition year ago. Thoman
finds the condition to be about 81.
"A year ago the government gave the
condition as S6.7.
Corn was dull, and averaged weak
until near the close, when some
shorts appeared to dislike the pros
pect Of having a few thousands short
over a holiday, and put the market
nearly level with Saturdays closing
figures as the session was nearing
the end. The opening for May was
46Ac, as compared with 45@46c on
Saturday afternoon, and it closed at
4612Q465sc. The days receipts We're
1S6 cars. and for tomorrow 100 cars
are estimated, the latter being one
Of the Strengthening influences of the
day. The visibles showed an in
crease of LOCO blu, as compared
with a decrease of $4,000 a year
ago.
A good business was transacted
in oats. The rain was very infiu-
entail in creating free long selling
at the opening. The crowd evident
ly oversold heavily, for the latter
market was composed greatly of
buyers who during the fore part of
the session were the heavy sellers.
The visible supply showed a de-
crease in oats of $4,000 blu, which
was very forward in assisting the
late advance. May started at 29Ac,
sold at 2S5sc, sold up to zoe, where
it closed.
The provision market was inclined
to weaken, and the end showed de-
clines from Saturday of from 1Oc
to 121sc in pork, 71kc in lard and 21sc
in ribs. Some taking of profits by
longs which expect to load up again
on further decline was the reason
generally given for the weakness,
and helped likewise to some extent
during the lower prices for wheat
and corn.
Receipts for tomorrow estimated
as follows: Wheat. 25 cars; corn, 100
cars; oats, 100 cars; and $4,000 hogs.
No session of the board of trade to-
morrow owing to municipal cleo
tions.
The leading futures ranged as fol-
lows:
Open High Low Clos