St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1896-02-10
A GAME Of SEE-SAW
WHEAT RECEIVERS FROM EARLY
LOSSES, BUT CLOSES A CENT
LOWER.
BEARS TAKE THE INITIATIVE,
AND THE BULLS SOON MANAGE TO
GIVE PRICES A
..5Ia, PUSH.
BEARS TAKE THE INITIATIVE,
BUT THE MARKET WAS FEvERIsH
but Buyers Were Plenty at the
Bottom.

CHICAGO, Feb. 8.-Wheat played see-saw
today. After recovering from early loss caused
by disappointing cables, local influences con-
trolled the market almost exclusively, May
finally closing cent lower. Corn and oats
were affected by the late weakness in wheat
and closed fractionally lower and provisions
also made slight recessons.
Wheat started moderately active but the
strength which was expected to follow the
announcement cabled by the Liverpool Corn
Trade News yesterday that stocks of wheat
and flour in and afioat for Europe had de-
creased 100000 bushels in January was not
forthcoming. The main reason for the weak
ness with which this market started was the
indifference of the Liverpool market to yes
terdays strength here, combined with the re-
port from Liverpool that the weeks ship
ments from Argentine amounted to 640 600
bushels, and the larger receipt at Minneap-
oils and Duluth, 541 carloads.
The bearish features held sway in the mar
ket for half an hour, at the end of which time
the bulls commenced to give d fresh exhibit
ton of their faith in higher prices. The OPEN
ing price Of May wheat was from 67$4c to 681sc,
with one Or two small transactions as low
as 61ssc. After big business had been done
around 67Ac, the price gradually worked off
to Size again, and it was then that the
bulls took fresh hold and soon had the price
up once more to ESQ., The news from Argen-
tine about extensive damage to the crop was
again renewed, and there can no longer be
makes the statistical position remarkably
strong and leaves this country and Russia
substantially the only sources Of supply for
the importing countries. The market re-
NAMED all day in its now normally feverish
condition. After touching 6Skc the price
tumbled again to &c before the close on some
heavy selling, supposed to be for Armour,
and wound up at CTS @67Kc, at which it shows
loss of lie for the day.
The business in corn was small and the
throbs of the market were light and lifeless.
May opened fractionally lever at 3015(D305sc
and kept inside of 301a@30ssc until about
half an hour from the close. when wheat had
become weak. 1t broke to 303s@30A and
closed at that, against 303sc On the day before
In oats the feeling was easier, influenced
by the heaviness in wheat. May opened a
shade lower, at 21ss4211sc sold at 211kc, de-
clined to 2lasc and ended with sellers at that
price.
The provision market was subjected to
something having very much the appearance
OF an organiH raid. The opening prices
were at reduction from yesterdays closing
prices. There were plenty of buyers at the
decline and some Improvement, but near the
close the sellers again predominated and
brought prices back to a little under the
previous days final figures.
= May pork opened about 8 cents lower at
from $l037h down TO $f0.32R, and after recov-
ering to $10471a, the close was at S103 2k
the lowest price of the day. Lard lost cents
and ribs closed unchanged.
Estimates for Monday: Wheat 125 cars
corn. 160 cars; oats 1856 cars; hogs % 0OO
The leading futures ranged as follows