St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-01-07
RISE OF ONE CENT IN WHEAT
Set a Lively Pace for the
Other Markets--Pro-
visions Strong.
LITTLE TRADING IN STOCKS.
Tendency During the Greater
Part OF the Day Be-
ing Upward.

CHICAGO, Jan. 5.-The wheat market
Showed more bulIish vim during today S
short session than it has for month
tack, and at the close had gained clear
l cent per bu on Yesterdays final price.
Wheat set the pace for the other mar
kets. with the result that corn is sc
higher for the day and oats &c higher,
with the speculative articles in hog
products also up trife. New York
buying of wheat through numerous
commission houses and August Bros
seauX's heavy purchases gave the mar
ket its first upward impulse.
The wheat market perceptibly needed
something to keep it up at the opening.
The scalpers seemingly had the entire
crop for sale at from 5738c down to 5713c
during the first ten minutes OF the SEES
sion. The market received at critical
moment all the support it required, and
soon the ScaIpers were as unanimously
trying TO buy as they had previously
been DESTROYS of selling.
Receipts were lighter than ever and
foreign stocks small and their markets
steady. Chicago received Al car loads.
Minneapolis reported receipts Of 122
GERS and Duluth of G2 cars, Or 1S4 to-
gether. compared with SD on the CORE
spending day year ago. The United
Kingdom stocks of wheat and flour were
given by Beerbohm's at II, 100000 blu, as
compared with 29,000.0O0 bu at the cor
responding period of the year ago. One
item of the news was TO the effect that
the Argentine wheat crop is anywhere
from 20 per cent to 35 per cent smaller
this year than last and of inferior quail
ity. Several cables gave further con-
frmation to the above effect, and heavy
buying orders based, it is said, upon
the Argentine crop failure were re-
cevpd from New York.
The market. from being very weak,
became very strong. May. which opened
at from 5715@575Sc, was covering
around $3.50 near the close. \ great
deal of business was done. May closed
at 5S16c.
Corn opened very weak, but screwed
its courage up when the bold advance
in wheat was under way. The opening
price for May was 4735c, and from that
down 10 4714c, as compared with 4715c
at the close yesterday. 1t rose in SYM
patny with wheat to 49c, and closed at
4755c.
Oats were active throughout the SEES
sion and quite a heavy business was
transacted. Early in the day Counsel
man and Bartlett-Frazier offered stuff
freely and broke the market from 30$4c
to 3O13c. Then the disposition to buy
began to improve. Wheat and corn
commenced to advance, and the shorts
in oats became alarmed and bid freely.
The price started to go up and con
tinued to do so until 3l$5c was reached,
at that price the market closed.
Provisions were very steady, and in
the end rather weak. The strength Of
wheat helped to sustain the hog prod
ucts at the slight advance viii CHI
marked the opening prices. May pork
started with an advance Of 213c, and,
after dropping for a while, picked up
again, and closed with that much gain
for the day. Lard and ribs pursued
similar course, and each rested at 213c
over the closing price Of the day before.
The receipts of hogs were only $4,000, as
compared with g, coo estimated.
The leading futures ranged as follows: