St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1896-01-23
MAKES 4 BIG BULGE
WHEAT is UNMIsTAKABLY BULL
ISL AND SCORES A TwO-CENT
GAIN.
TRANSACTIONS WERE LARGE.
HEAVY REALIZING LATE IN THE
DAY CAUSES SOME
BREAK.
PROVISIONS ARE QUIETER.
Corn and Oats Show IL Raise in SYM
pathy With the Boom in
Wheat.

& CHICAGO, Jan. 22.-Wheat advanced &c
bu today, closing with all the gain held,
cept &c. Corn and oats were strong in
sympathy and closed u and nc higher respec-
lively Provisions, on the contrary, were
weak and closed at loss of 1Oc in pork
and lard and &c in ribs.
From the start the wheat trade was unmis-
takably bullish and May which closed yes
terday at 61B@61Ac, started nominally at
6I12c. There was practically no wheat for
sale at this price, however, and in about
twenty minutes from the opening it was
changing hands in 25,OOO so, 900 and 100, 900
bushel chunks at 621Ac. The feeling was in
sharp contrast with that which prevailed at
the close yesterday. After the trade had
mad a nights reflection it was unable to dis
cover why it had been SO panicky, and the
suspicion was raised that they had been the
victims of raid designed to shake out the
longs and buy cheap wheat. This convic-
Ilon, with the fact that there was no bear
news Dut on the contrary much that was
strongly bullish, caused a rush on the part
OF those who had sold out yesterday TO re-
1nstate themselves on the long side hut
there was little for sale and the active com
petitlon sent the market booming. Shorts
TOOK fright and there a steady advance
OF &c from yesterdays close. The heavy re-
alizing which followed caused some break
Gables opened lower, but there was con-
siderable strength developed later. The
northwestern receipts were light only 265
cars, and primary deliveries also small. St
Louis reported 25O 900 blu sold there to go by
river to New Orleans, and the flour business
the Argentine exports for 1895 showed that
with the small amount left over, the total
was about $4,000, 900 bu, and that those of
1886 will not exceed that The Washington
crop bureau, in its January statement makes
a shrinkage in the English wheat crop of
100 900 blu, while Russia has 43, 467 900 blu
less of wheat than last year. There was
also rumor that the government would
open negotiations with Spain for the pur-
chase of Cuba, which would open big flour
market for America, and this probably had
some effect May wheat opened at 61!hc,
SOLD up steadily to 6314c, off to 62%c, and at
noon was CSC, or 1Bc higher than it closed
last night. The market was quiet but nerv-
Gus during the last hour, May selling to
629sc and back to 627s@63c, split Covering
&c.
Corn was strong. taking it's strength from
wheat and scored good advance before the
middle of the day. May opened &c higher
at 29Ac, and rose irregularly to 29% 129%c,
following the fluctuations of the wheat mar
6 Ret, and closed at 1880 sellers for May and
S0l20303sc bid for July.
The oats market had frmer feeling pre-
vailing and prices were higher. Sympathy
with wheat and corn to some extent was the
cause of the advance yet good short buying
was the main backing of the strength. May
opened &c higher at 1914 0293sc; sold UP to
209s@2O$4c declined to 2O1AG2O5sc, closing at
that price
Provisions were quieter than for some
time past, and an easier feeling prevailed.
Inc opening was weak, May pork opening
with 21ac lower than yesterdays close at
$40. 5Oq1O.55. Hogs receipts We're liberal and
this with the Orange-Judd Farmers report
showing that there is no scarcity of hogs in
the country caused easy feeling, but the
strength in wheat prevented any decided
drop. May pork opened weak and PFC low
er at $lO.5O610.55; rallied to SOTO and closed
steady at $10.52R. Lard opened TIC lower
at $5.9212@5,95 rallied to $5.971a and closed
at $3.50 May ribs started sc lower, at
$5.271a65.30, advanced to $3.50 and became
quite weak near the end, closing at $5.271h
Business was quite active in the last half
hour.
Estimates-Wheat, 40 cars; corn, SIG cars;
oats, 152 cars; hogs, 29, 900 head.
Tha leading futures ranged follows: