St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1896-02-15
WAS RATHER SEAMY
WHEAT CLOSES A VERY IRREGU-
LAR DAY WITH SLIGHT
DECLINE.
SENTIMENT WAS BULLISH,
BUT HEAVY SELLING ORDERS AT
THE END HELD 1T
DOWN.
CORN AND OATS UNDIsTURBED,
And Closed at Practically I'm
changed Prices, Together With
Provisions.
,oRN AND OATS UNDIsTURBED,

CHICAGO, Feb 1.-THE ickeness displayed
by wheat today would make even st. VAL
entine enyious. Opening lower, which was the
first surprise, 1t rapidly advanced and held
strong nearly to the close, when down it went
closing at a loss of &c since yesterday, after
having been nearly a cent above that price,
Corn and oats were more consistent and closed
practically unchanged as did also provisions.
There was a moderate speculative trade in
wheat, the market ruling rather spasmodic,
the range for the day being 1Ac. The tone at
the start was weak and initial trades showed
1sc to A@asc loss but good demand pre-
vailed shortly afterward and prices gradual
ly sold up 1@1Bc. The easy opening was
attributable to some extent to the weaker
cables, Liverpool coming I'D lower, and then
the cold wave predicted yesterday failed to
materialize, the weather on the contrary be-
ing mild and favorable. and no doubt cut
something of figure with the action at the
start. The market rallied on buying by prom
inent houses and the advance was helped
along by the liberal exports, more moderate
Northwestern receipts and a fair out-inspec-
} ton here. The decline in Liverpool in face
of the rise on this side yesterday was also said
to be due to the reduction in ocean freights
more than anything else and this explanation
was something of help to the situation.
AS a rule there was little in the news to
warrant the advance, but sentiment was I'M
deniably bullish, and the feeling that some
upturn was due was quite general. May
opened about Nc lower at 661a@6Gasc, then
started up and sold to 673s@6712c and at
noon was 67Ac. The market broke badly to-
ward the close of the session. Room traders
loaded up heavily above &c for May and in
endeavoring to sell out caused a sharp re-
action. Besides the report of 81, 500 900 in
gold taken for export helped to depress
values late in the day. Heavy selling orders
also came in from the Northwest, and May
sold down to 66Ac, closing rather weak at
that price.
Corn was quiet but firm, Influenced by the
strength in wheat, the continued moderate
receipts and the free exports. May opened
unchanged at 301sc, advanced to 30Ssc and
reacted to 30Ac bid The market weakened
during the last hour in sympathy with
wheat. May sold off to 3O1sc and closed easy
at that price.
Oats-The feeling was firm early, but later,
as wheat went down, the advantage was lost.
May opened fractionally lower at 21kc, fuct-
uated between 21Ac and 213sc and eased off,
closing at the opening price,
Provisions were slightly weaker at the
opening influenced by the Unexpectedly
large run of hogs, but as yard prices held
well and wheat displayed strength, advances
were noted. Later, however, as activity sub
sided and the grain markets lost their early
gains, provisions declined. Closing prices
for pork and lard were practically unchanged
and ribs closed 21ac lower.
Estimates for Saturday-Wheat, 140 cars;
corn, 2S5; oats, 290; hogs H. 900 head.
The leading futures ranged as follows: