St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1896-01-08
SQUALhY IN EUROPE
UNCERTAIN SITUATION ABROAD
HELPS THE WHEAT MARKET
MATERIALLY.
STRONG ADVANCE In PRICES.
NORTHWESTERN RECEIPTS NOT
SO HEAVY AS THEY HAVE
BEEN.
BUYING ORDERS QUITE LARGE.
Corn Strong on a Fair Amount of
Speculative Business-PrOvis-
ions Lower.
STRONG ADVANCE IN PRICES.
BUYING ORDERS QUITE LARGE.

CHICAGO, Jan. THE pre-eminent
influence on the board today was the
squally political outlook in Europe
There were other bullish influences, but
this predominated. The big bear fac
tor was the financial situation. The re-
port that from So, 900, 900 to $5,000,000 of
gold had been engaged for export aid
ed in weakening wheat for time, but
1t soon became strong again. closing
iso higher than yesterday. Corn and
pats each gained 12c with wheat, while
provisions were heavy and declined.
Wheat was easier for a second or
two at the opening, but soon became
strong. England was a liberal and
anxious buyer at the seaboard, taking
prompt shipment. Country mlllers
showed up in force here, and
paid 2@21Ac in store over May price
for 1000 buSheI Of No 2 red The
Argentine crop was said to be dam
Rged to the extent of 20 per cent by
rain, and the stocks of wheat in Eu.
rape and afloat therefor are 2,128,O00
bushels less than they were week
ago There was one cloud on the
horizon, however, that was well watch
ed-the financial situation. But the
news and situation generally favored
better prices. The Liverpool cable
quoted wheat higher and consols low
RI, Oue IL WAS Ss1lu, " llie VI lhiCe"i "a.
uation in political affairs, and the ad-
vices concerning the Argentine crop
were quite satisfactory.
The receipts in the Northwest were fully
100 cars less than yesterday and only twelve
bars more than week ago. The world
Shipments last week were officially reported
et 6,521 900 blu, or about 00,OOO blu under the
estimated weekly requirements. All this
)ended to alarm shorts. and there was active
lowering, with only limited offerings, and the
competition sent prices up easily. On the
Hrst advance, however, there was free real
lzing sales, which started the price off kc;
but the late cables brought the news Of q
further advance abroad, and the buying fever
egain set in, and there was another advance,
which was well held, at least up to the noon
hour. May sold early at 5s4c, then up grad
nally to 60Bc, Off to $3.50 and back to 60Ac.
end at noon was 601sc The market was nerv-
plls during the last hour and after selling OF
% 59bsc for May, made squirt to 60Ac and
ilosed at 605sc.
Corn was strong and a moderate amount
Of speculative business DONE May, which
closed yesterday at 2S14@2Sasc, started at
2SAc, but soon firmed up, rising to 2S7sc at
winter loading here was fairly good. and in
the cash crowd local billed corn bringing
go more than, it did yesterday. Country
offerings were light. = ~ -
Oats were fairly active and strong, inf1u-
Aneed by corn. Shorts were the principal buy
eTs. May sold early at 1910, but advanced
TO the finish, closing at 1874 @19bc.
Liverpool receipts were considerably larger
Ncts suffered considerably in price. Compared
with yesterdays latest quotations. today's
Closing rates show the following changes, all
declines: January pork Zoe; February 121zci
lard January TIC; May, Sc; January and
May ribs &c.
Estimates-Wheat, G. cars; corn, 265 cars;
oats, 50 cars; hogs, $1,000 head.
The ]cading futures ranged as follows: