St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1896-01-22
BEARS RULETHEDAY
WHEAT CLOSES LOWER AFTER a
Bulge EARLY IN THU
DAY,
DECLINES IN ALL CEREAL S.
WHICH WAS DECIDEDLY
BULLISH.
PROVISIONS ALSO DE
DECLINE,
Owing TO Extensive Realizing of
Local Lines of Heavy PROD
ucts.

CHICAGO, Jan. 21.-Wheat was bearishly
inclined, and after an early bulge to &c for
May, closed 3sD5kc lower than yesterdays
price. Corn and oats had a somewhat SIM
liar experience, each of them closing at mod
crate declines for the day. There were some
realizing sales by holders Of long wheat.
Pork, lard and ribs also suffered in price to
a moderate extent
Wheat was somewhat weak earlier In tho
session, mainly on some generous selling by
few OF the big holders, and at one time
was Ac below the close last night; but the
weakness was only temporary, and there
was quick reaction Of nearly &c, but this
? In turn was all lost before noon. The early
y; news was in the main bullish; cables came
higher, the light worlds shipments reported
yesterday were officially confirmed, and the
country deliveries again moderate
while the clearances aggregated about 450, 900
blu in wheat and flour.
The telegram received yesterday announc-
ing a shrinkage of 5000 900 blu in the Indian
wheat acreage was also exciting decidedly
bullish influence. The market was also
helped by the increasing strength in pro-
visions, and there was an active covering by
shorts and good investment buying. Part
ridge was heavy buyer much of the time
y cut the advance drove him out of the market
LOT a season. On the bulge there was
prices off trifie below early figures. May
enough realizing and short selling to force
sold early at 619sc weakened to 612bc, then
sold up to G2@621sc split, but back to 61Ac
and at noon was about 61asc. The market
was weakened during the last hour by Brad
streets report which showed decrease in
the worlds stock of only 1 ,937 900 bu where
over 100000 blu had been looked for The
selling was on a large scale, and May went
to 6l1sc, finally closing at 611s@61Ac bid.
Corn showed little weakness early and
sold at one time Ac below last nights close
} but reacted in sympathy with wheat and
: provisions and went up 12c, but at noon had
weakened and was the same as it closed yes
terday. May opened &c lower at 29Nc and
on the bulge in wheat sold up to 293sc.
There was decided weakness during the clos
ing hour, and May closed at 291s@D29Ac, a
loss of 1sQKc from yesterday.
Oats were fairly active. and business quite
heavy, the market following the fluctuations
of wheat and corn. May started at 203ac
sold at 2012c, grew more quiet, sold off to
201sc and closed 201s@2014c sellers, showing
drop of 150Mc since yesterday.
Another small run of hogs started the
provision pit On the boil again. but in
after selling as high as $1O.95. May pork de-
clined to $1,000, and closed 15c lower than
the highest at $1O.62k. There was extensive
realizing of local lines Of long products. May
lard declined from $6.1215 near the opening
to Sc, and rested at that. May. ribs sold as
high SOB and from that down to $3.50,
and closed 2A@5c lower at $5.35.
Estimates: Wheat, Sc cars; corn, $50; oats,
210; hogs go 0G0 head.
The leading !ntures ranged as follows: