St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-02-19
ROUTED The BEARS.
After Weak Opening, Wheat
Closed With Decided
Gains.
DECREASE IN THE VISIBLE
And Heavy Export Business
Did the Trick--PPO-
visions Firm.
4 HEAVINESS IN STOCKS
Characterized the Opening Of
Speculation for the
Week.
Il HEAvINESS IN STOCKS

CHICAGO, Feb. 1S-Wheat started to-
day with the apparent intention of TAX
ing a dizzy slide down the scale, but
marked decrease i'll the visible supply
and reported export business at New
York brought prices up with a jerk,
May closing &c higher. Corn followed,
finishing &c higher for May, and May
oats closed 35c higher. Provisions ended
with moderate gains.
The wheat pit. at the opening, was
flooded with selling orders 14c-below
Saturdays closing price. The latest
trading on Saturday was at 52$6c for
May, and at the opening very few buy
ers could be found at 5214c, and there
were even more sellers than buyers at
52lsr. so that see became almost imme =
dlately the trading price. An antici-
pated decrease in the visible stocks
since week ago of only 100000 bu was
a potent factor. The Northwestern re-
ceipts at Minneapolis and Duluth were
$50 carloads more than the correspond
ing day a wear ago. The weather also
was favorable for a continuance OF Il
free movement from the farms and
country elevators of the Northwest
and the foreign situation was not
sufficiently encouraging to overcome
the bearishness of the domestic
surroundings. A great deal of long
wheat was again offered. on the break,
and although at around 52@5215c local
shorts covered Hbundantly, there was
little reaction during the first hour and
a half of the session. The visible sup
ply soon began to give evidence of a
much larger decrease than had been
looked for, and when the decrease was
found to amount 10 ,59S. 900 blu. or three
times as mnch as many had expected.
the shorts commenced taxing back the
wheat they had unIOaded From being
quite weak at 52c the price gradually
hardened until about two hours from
the opening it had recovered to 5215c.
Primary markets Altogether received
2j9,OO0 Du, against $4,000 bu a week
ago and 2SG000 bu a year ago. The
English visible supply showed a de-
crease of $4,000 bu. following a de-
crease of l, 42O. 900 bu on the previous
week. and New York reported a good
business done for export. The price
advanced here to 52%lc, and closed at
523lc.
Corn was weak at the opening, partly
in sympathy with wheat and partly
owing 10 liberal receipts. Later. when
wheat had recovered from its early de-
preston. corn responded to the change
in tone OF its neighbOr as we'll as TO the
result OF a visible supply statement,
which showed a decrease of 232, 600 bu
in the stocks since last Monday. and
compared with an increase Of 7S7, GOO bu
year ago. The Atlantic ports had
shipped literally also, and St. Louis
sent good many buying orders. The
Atlantic port Clearances amounted to
10000 bu. The total in the visible sup
ply is now 12.65l,090 bu. against II, ISL
GOO last year at a similar period. Prl~
mary market receipts were $50, 900 bG,
against $50. 900 last year. The opening
sales OF May were at A sc, with a ma
jOrity of the traders pressing sales at
that 1t sold off to 1880 before this re-
coYery began, but reached age, closing
at that price.
Trading in oats was very scattered
and Of only fair volume. Corn inhp-
enced the fluctuations May started at
from 2Slsc to 2S35c, and sold up 10 29c,
at which price the market closed. The
discount for February oats was lessened
To ~ today by sale IN exchange for
May at that fraction premium. The
visible supply showed decrease in oats
of 1914, goo Uu, thereby leaving the total
stock III store 6,942.O0 bu. Provisions
started as weak as the grain markets,
but soon faced about and wound up
higher all around. The early weakness
resulted from the liberal hog receipts,
but at the decline there was fair buy
ing, much of which was credited to Ar
mour ana Swift. The latter strength
in grain also helped prices. At the
finish May pork was 1T15e, May lard 215c
and May ribs ~ c higher.
Estimated receipts for today: Wheat,
81 cars; corn 100; oats, 25O; hogs, %, Geo.
The leading futures ranged as follows: