St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1896-02-04
WHEAT MARKET MONOPOIIZES
THE ATTENTION OF TRADERS
ON CHANGE
A SENSATION IS CREATED
by AN ADVANCE OF THREE CENTS
IN THREE MINUTES AT ST.
LOUIS.
DIG LEADERS HAMMER MARKET
Early in the, Day, but the Crowd
Soon Recovered Its Nerve on
BuIIish News.

CHICAGO, Feb. S.-The wheat market mon
0poliZed most of the attention Of the traders
today and trading was very heavy. st. Louis
furnished of the sensations of the day
by jump of &c in many minutes The
feeling here was generally bullish and May
wheat closed NC higher than Saturdays
closing. Corn oats and provision markets
were all easier but made very slight changes
IN value.
Wheat was again very nervous today and
went up and down within a range of nearly
&c but averaged higher. The early tendency
was downward, being Influenced by the gen.
eral fall Of snow, which was regarded as
highly beneficial to wheat and by the lib
eral receipts in the Northwest. There
good deal OF selling for time, some of the
big leaders hammering the market and the
support was of reluctant and hesitating
character, prices gradually going off nearly
1c. But the crowd soon got its tim
idity, Liverpool cables showing decided
strength and reporting the stocks smaller;
worlds stocks were unoficially reported at
only 5,25O,OOO bu. or 100000 bu below the
estimated weekly consumption, and the
amount on ocean passage showed decrease
of 5000 blu. This quickly changed the tone
of trade and the early sellers made active
efforts to get back what they had sold. There
was active buying for the long account
prices going up rapidly under the COMPETE
ton, as there little for sale. During
this period of nervousness the visible supply
was posted, showing decrease of nearly
800, 900, which a great surprise and in
creased the excitement, May. going to 68Ac,
nearly &c advance, which was accom-
plished in less than half an hour. Some
weakness followed on liberal realizing, but
the reactions were sharp. Advices received
later in the session indicated that the snow
fall had extended only small portion
of the winter wheat belt. May opened about
Ac lower at 671s@66Bc, fell to $685. up to
6SAc, off to 6715c, then to $3.50, and at noon
Csc. The market kept strong during the
last hour and May sold up to 6S1ac but eased
off fraction, finally closing at 6Sasc.
Corn slow and did not respond to the
upward action of wheat, the big increase in
accumulations preventing any rally. Open
ing quotations for May were about &c below
Saturday at 9014@303sc and fluctuations were
within half cent range all day, closing
prices being virtually unchanged. 30%9307sc.
Oats quiet and uninteresting throughout, the
wheat furry having but little effect. May
opened nc lower at 211ac, sold at 2l3sc, ad-
vanced gradually to 21%c and at the close
offered at 215s@21&c. Only fair bus
mess transacted.
! The provision market was rather tame and
although hog receipts were quite moderate
the holders were apparently more inclined
to sell than to buy more. Prices began to
sag from the start, but the decline for the
day, compared with Saturdays closing prices,
was trifilng. Pork at the end of the session
showed decline of 10c, lard decline OF
2Ac, and ribs are unchanged.
Estimates Wheat, los cars corn, 30; oats,
ESQ; hogs, 10000
The leading futures ranged as follows: