St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1896-02-16
TRADERS ARE TlNID
AND LACK of SUPPORT CAUSES
WHEAT TO MOVE DOWNWARD
A NOTCH.
FAIR SPECULATIVE TRADE
GIVES THE MARKET TEMPORARY
STRENGTH EARLY IN THE
SESSION.
STOCKS ARES DULL AND HEAVY.
10 sKs
- =
Due to the Efforts of Professional
Dealers as Well as Heavy
Liquidation.
STOCKS ARES DULL AND HEAVY

CHICAGO, Feb. 15-More from lack OF
support than anything else wheat today was
weak and closed about &c lower. Traders
have been timid from the disastrous effects
OF the past weeks surprising fluctuations,
and, as consequence, have become exceed
ingly cautious.
Corn and oats were but slightly affected
and closed unchanged. Provisions had a
downward tendency and showed material
losses
Wheat-There was fair speculative trade
Tor short session. the market having B@1c
range The feeling developed was a little
unsettled and prices rather nervous. The
start was weak. There were a good many
selling orders on the market and some of
the early sales were as low as 65Ac, or at 1kc
decline from the close last night. But the
decline started some good buying, the
strength being increased by rumors that a
colo wave would invade the winter wheat
region tonight, and possible damage to the
growing crop was feared. AS the strength
developed shorts began to cover, and it did
n not take long to advance the price to $3.50
oo1ac split Among other routine news which
helped strengthen the situation was the mod
crate Northwestern movement and reports
tnat the bulk Of the same was coming from
country elevators: But the buying fever
gradually subsidized and when the longs at
tempted to realize they found that the de-
mana was exceedingly tame, and in the eff
Iort 10 get rid of their holdings, the price
was gradually lowered nearly lc, and there
was not much recovery. The Argentine ship
ments were quite factor in producing weak
ness, Tor the trade has heard so much of the
shrlnkage In the crop and the bad quality of
the wheat that the 100000 blu shipment was
a surprise. Yet the total shipments for the
nrst TWO weeks of February this year have
been only 100000 blu, against 1900, 900 bu
sne same time, last year and 100000 bu the
same time two years ago.
May wheat opened about Ac higher, with
sales sales at 6oA 966c. improved gradually to 663.
10 6o1sc closing at 651ac bid.
corn was fairly active and sold up sharply
early, out finally lost all the advance 1t was
ihnuenced some by wheat, and also by the
impression that the prospective change in the
weather might cut OF receipts 1t followed
wheat at the last, break
May opened fractionally lower. at 3O6301!
split, up gradually to 301bc but weakened
later to BOISE, closing at that price.
frustrating was exceedingly quiet nearly
all the trading being done by country dealers
The market was Influenced almost entirely by
the action of wheat. May opened unchanged
at 2l1sc, sold up to 21as@211sc, and closed JUS
steady at 211Sc bid. +
provisions wereI heavy, said to be because
OF the selling out of long stuff by stock yards
nrms In anticipation of heavier run of hogs
next week. May pork hstarted at decline Of
from 121sc to 15c, dropped another 10c an6
wound up with net loss for the day of 121ac
at $lO.lO per barrel May lard at the close
was worth $3.50 as against $50 on Friday
afternoon. May tits, which closed yesterday al
S5S5. rested at IS. 2211a today. Estimates fol-
Monday-Wheat, 1855 cars; corn, 300 cars; oats
200 cars; hogs 10000 head.
The leading futures ranped as follows.