St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1896-01-21
GAINED 4 FULL CENT
WHEAT LEADS A GENERAL AD-
VANCE IN THE SPECULATIVE
MARKET.
A rig BOOM IN PROVISIONS.
SHORTS BECOME EXCITED AND
SELL FREELY DURING THE
DAY.
GENERAL TONE MUCH STRONGER.
Corn and Oats Firm in sympathy
Pork and Lard Score Big
Advances.

CHICAGO Jan. 20-The speculative mar
kets were all lively today, led in the first
place by provisions, but later wheat headed
the procession, and compared with the price
1t closed at Saturday, made a gain OF lie
per bu, closing with a net betterment OF
&c. Corn and oats were strong in sympathy
with wheat and provisions and the latter
looked for a time like a runaway market
At the close pork still retained SOC Of a Coo
advance. Lard closed with gain of 15c and
ribs of 22c.
There were a good many selling orders at
the opening the market, and some of the
big professionals were marketing wheat free
ly. some for short account, some in the way
Of realizing, and some in the way of ham
mering, presumably to get prices off in order
to find a good spot for buying. But the
weakness was only temporary; Liverpool
cables came higher and New York sent liberal
buying orders and reported that there was a
good foreign demand there. The worlds
shipments for the past week were reported
at only $500. eco blu, or 600 blu less than
the theoretical consumption. The amount on
ocean passage decreased So, 900 bu and as New
York reported q decrease of 300 600 blu in
her stocks, the trade began to look for an
unusually large decrease in the visible sup
ply. In addition to this. there a big
boom in provisions-pork especially being
bouyant-and this helped to develop additional
strength in wheat. Shorts got considerably
excited and sold freely, while the general
ulatfon was materially increased. May
opened trfe easier at 609s@60Mc, grad
ually getting down to 60h@605sc. 1t rose to
61Ac in about twenty minutes, and before
IL o'clock reached 61hc, with heavy bust
ness.
On the bulge. however, there was free real
izing, and as the final visible supply figures
did not show as much decrease expected,
the price went off about 2sc by noon. The
price near the close got as high 61Hc
a rumor of 100, 600 bu having been marketed
direct he
had no basis in fact, the market closed firm
at 615s961Ac. Dispatches from New York
saying that gold was bringing from y to u
per cent premium, and that between $2000,000
and $3,c00000 in gold would go out by
Wednesdays steamers had no effect wheat
Corn was strong, and a large business was
done in the pit. The strength came in large
measure from the advance in provisions
which started shorts to covering May opened
unchanged at 29hc and after advancing to
2S9sc, 1t reacted again to 291s@29Ac, but on
general bearish corn news, reacted to 29asc
closing ut that figure.
Oats were firm and higher with a very
good business doing, the frmness being
caused by the eagerness of the country to
get stuff and sympathy with wheat and corn.
May opened tsc lower at zoe, sold up to 20lbc,
back to 2OMD2O&sc, and closed at 20Ac bid
an advance Of &c since Saturday.
Another heavy days business was done in
provisions. and the tendency of prices was
strongly upward. Pork lard and ribs were
equally bullish, and there appeared to be
heavy short interest, which became seriously
stopped at 5000, opened this morning at
5000 and at an early period of the session
it was up to $1O9O and closed at $3.50
May lard. which left off on Saturday at
S5.S71S, started at from $5.971A to S. and
rose to $6.O5Ge6 071s and was bringing $6.O2k
at the close. May ribs from $685. advanced
to $40. and closed worth S.. 37h.
disappointment at the small run of hogs,
compared with the number expected, gave
the market its strong send-off
Estimates-Wheat So; corn 900: oats 325
Hogs 2l0 600 head
the leading futures ranged as follows: