St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-01-05
SELLING CAUSED DECLINE,
But a Rally Followed on Re-
ports Of Liberal Exports
Provisions Strong. :
DEPRESSION IN STOCKS
Caused by Engagements Of
Gold for EXport--LondOn
a Seller.

CHICAGO, Jan. 4.-After a weak OPEN
ing today, wheat and corn rallied near
the finish. but closed nc lower for the
former and sc lower for the latter.
Free selling caused the decline, and
the rally in wheat was the result of re-
ported liberal export business. May
oats closed re lower, and provisions
finished slightly higher.
The demand for May wheat, which
ket yesterday, seemed to have taken
flight this morning There was nothing
to cause the desire to sell which inau-
gurate6 the days business except the
Impotence Of the scalpers who. finding
themselves with &c or SO profit iii long
wheat, made Simultaneous rush to Sc
cure 1t and defeated their object by
their own Impotence. Receipts were
light. foreign markets firm and adj
vices from the country OF generally
hulllsh character. The price of
May, which at the close of yesterdays
session was 57$4@57Tc, dropped at the
opening this morning to 571ac, with only
fore 1t had any recovery it got a shake
down to 5714@5735c. 1t was at the lat
ter point that the demand returned, and
about II O'Clock the price had recovered
to 578@57$4c. English country markets
were called firm and slightly higher.
Continental markets were also tirme~.
Primary market receipts amounted al
t,Nfr hnr to I'D
vices were numerous regarding the
scarcity of wheat in certain sections.
and reporting mllers to be drawing
from the elevators. New York was weak
tor futures, but good demand for spot
wheat for shipment was reported. At
all early hour of the session fifteen
boatloadS were reported sold to EXPORT
ers, some of it for France, the latter
being an unusual circumstance, and
said TO be tue only wheat sold at New
York direct to France in two years.
May closed at size.
The trade in corn was moderately
brisk Tor time. but later it became
quite slack and at the same time weak.
/ he independence of Illinois shown by
New England. which appears to get its
wants supplied from other sources than
this stale this season. and the COnSe-
Quent absence of demand for shipment
from here are the principal depressing
factors in the market. The receipts
were 312 carloads. and $50 are estimated
for tomorrow. May corn opened at
4755c and 471sc, dropped TO 47$sc, re
covered to 473sc and closed With sellers
at 4715c.
Oats were easier, and met with very
slow sales. The indications were for
steady and active market, but there was
quite good demand from the shorts
and the few sellers present. later,
however, matters were reversed. Buy
ers were scarce and longs offered freely.
This and the influence of corn caused
an easy feeling and lower prices May
sold from 3l3sc to 3l1sc. and back to
Size. closing at 307sc.
Provisions opened weak on the hog
receipts overrunning what had been
considered the sufficiently heavy run as
estimated yesterday. The Cudahy in
tereSt. which was considered to be
heavily short, was the best buyer at the
decline, and took enough to cause
lively rally. A rise of zoe per barrel
was offered for pork. Lard was adj
vanced 10c and ribs DC. AT the close
pork showed gam, compared with the
closing prices of yesterday, Of 10c, lard
a rise of 71ac and ribs sc.
The leading futures ranged as follows.