The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-10-02
CHICAGO WHEAT THIRTEEN CENTS
ABOVE THE PRICE THREE
WEEKS AGO.
LARGEST BULGE FOR A YEAR.
AVERAGE INCREASE oFOvER HALF
A CENT FOR TWENTY-FIVE
DAYS.
CLOSE SLIGHTLY BELOW THE BEST
Free Realizing ON the Rise Cut the
Days Advance to About Two
Cents.

CHICAGO, Oct Wheat sold above zoe a
bushel today the December option at one
time touching 70hc, an advance of 2%c since
yesterday. At the close of one of the live
lest sessions for months. 1t still showed an
advance OF 1hc. All the other speculative
markets were benefited both in price and
volume of business. Corn closed 1c higher,
oats &c higher and provisions 1714c to 321ac
higher. December wheat. which closed
Wednesday at 6SB@6SAc, opened this morn
ing at 6S%c and 69c. and in little over an
hour It went as high as zoe, being 1Sc above
it's price on Mondey, Sept 8, an average adj
vance of about &c per blu day for the in
tervening twenty-five days. An advance so
steady has not taken place since the spring
of 1895, In May Of that year zoe per blu
having been added. The remarkable thing
about the rise now in progress is that it is
In the face of more or less uncertainty re-
garding the political outlook. The advance
to 701sc was followed by reaction to $40
69Ssc but that in turn was succeeded by a
still further addition to the early strength,
and before IL o'clock the price had risen to
701zc for December. Such continued strength
surprised the crowd, who kept looking for
breaks. But 1t was not hard to explain. The
stocks Of wheat at Liverpool were reported as
being only ], 496, 600 Blu, about 600 blu de-
crease since Sept. l. and sufficient for only
about ten days consumption, and again as
compared with about 100000 blu at the cor
responding date on the year before. San
Francisco wired confirming the reported pur-
chase by London of wheat in California to go
to Calcutta. This went a long way toward
confirming the reported failure Of crops in
India. Outside buying orders were largely
for seaboard account, and the local crowd,
stimulated thereby, took twenty bushels for
every bushel on orders from elsewhere. The
cablegrarns, and the resulting business for
foreign account gave the needed confidence
to buyers SO that II was only on the big
bulges that any long wheat was sold. At
ter it reached 7019c. however. there was
enough realizing to put the price down to
69Ac, and 693sc was the closing rate. Fora
eign markets all closed very strong and quite
in line with the advance here. Export sales
of spot wheat were reported here to the ex-
tent of $4,000 bu, about One-half of 1t No. 2
hard and the remainder spring. The boom
in wheat was largely instrumental in caus-
ing a good advance in corn and a big trade
in the article May opened 3sc higher at
257sc and steadily advanced to 27h@27Ac,
then reacted and closed steady at 69s@2634c.
Oats, after a fashion, followed wheat May
opened shade higher at 195s@19Ac, ad-
vanced to 20Ac and eased off to 20N @203sc,
where 1t closed Trade in provisions has not
for month been general and active as It
was today January pork closed 321sc higher
at $7.30; January lard zoe higher at $4.30;
January ribs 171ac higher at $3.60@4.3 21h.
Estimated receipts Friday: Wheat 1877 cars:
corn 446 cars; oats, 1913 cars; hogs. $4,000
head.
The leading futures ranged as follows;