St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-03-13
WHEAT WENTSOARING
Wild Excitement in the Grain
Pits Caused by Activity
Of Bulls.
VISIBLE FAST DISAPPEARING
Corn and Oats Also Rise
Provisions Slightly
Weary.
VISIBLE FAST DISAPPEARING
STOCKS WERE IRREGULAR.
Volume Of Business Lighter
Bulls Manipulate Sugar.
General Market Hea Wy.

CHICAGO, March 12.-Wheat gave a
startling exhibition today of ground
and lofty tumbling." After numerous
erratic evolutions covering 1115c range,
the market wound up &c higher
for May. The bullish government Re.
ports started the advance and the
scared shorts did the rest. Corn gained
&c for May, and oats gained sc, but
provisions ended YEARLY, with pork up
slightly and lard and ribs trifle lower.
The government report was the whole
thing in wheat at the opening. ana there
being no possibility of any bullish con
struction being placed upon its figures,
an Immediate advance OF &c per bu was
not unexpected. May. which closed
yesterday at 543sc and apparently weak,
started this morning at from 55Ac TO
56}sc. Notwithstanding such an un-
usual advance over night, there was
less nervous excitement than accom-
panied the little &c jump on last Satur-
day morning. The smaller shorts coy
cred their wheat, but the heavy class of
shorts looked upon the government fig
ureS with more than indifference. Still
there was no radical reaction during the
forenoon, and such evidence of conf
dence OH the part of the bulls kept the
shorts on the rack. May slid off during
:he first ten minutes Of the session,
but worked gradually back again to
$500, and such moderate quantities as
were offered Tor sale up to noon found
ready buyers at from 564c TO 56115c.
Cables were higher. French crop
damage reports were repeated, and
Northwestern receipts were light
Bradstreers visible did not affect thu
market 10 any great extent. 1t showed
stocks east Of the Rockies 1,S79,0cO bu
smaller than week ago, aud 729. 600 blu
on the Pacific side Europe and afloat
showed an increase OF G72000 bu. Tie
net decrease for the world is thus
1,934.OO0 BIZ. The price did not give in
dicatiOns of dropping materially, there
being shorts willing to take all the
offerings of long wheat up To about
fifteen minutes of the close with 1t
around 51lIc. During the last moments
of the session. however, the offerings
became more liberal, ana May closed
at 56Slc.
The corn market was very strong at
the opening and was firm throughout
the session, and for the same reason
that wheat was higher-the bullish
government report.
Liverpool market was quoted Id per
GENITAL higher, and that market. to-
gether with the buliing in wheat. WIS
sufficient 10 keep shorts on the anxious
state all day, although the opening
bulge was too strong to last.
A few trades were made at the OPEN
ing at 4715c for MAY. but before any
quantity could be disposed of the price
was 47c, and it did not take long to
break 1t down 10 1870, with one or two
sales at 1910. The range during the
remainder or the day Was between 46kc
and 1890, with 1863 the closing price.
Oats were also strong, but it was all
through sympathy. Bradstreei's re-
ports showed IL decrease i'll oats of 49,.
900 bu, which could be credited with
retaining, if not assisting the advance.
May started lf@$5c up from yesterdays
again at 2924c, where it closed.
Provisions were firm, but did not sus-
tain their opening price in the extent of
the advance. May pork started with
trading at from $1l.5Ti5 to SLIGO, with
S11.70 rapidly following. but it declined
gradually to and closed at Sill 80, or only
PIC over the previous days closing
price. Armour IL Co., it was thought
by the pit traders, were supplying
through brokers all The demand which
cropped up. rhr English market was
QuOteu Hfm at OI duvallce IOf bacon
and Cd for lard. The hog receipts
numbered 81. GOO and 10000 are esti-
mated for tomorrow, the latter being
the probable controlling factor for the
early advance. Lard and ribs opened
trif1e higher, but closed with respective
losses of ~ and sc.
Estimated Receipts for Tomorrow
Wheat. 30 cars; corn. 120 cars; oats. l30;
hogs. 1906 head.