St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1896-01-01
WHEAT COSTS MORE
UPWARD TENDENCY TO PRICES
ON THE LAST DAY OF THE
n YEAR.
BULL NEWS MUCH STRONGER.
EOOD BUYING AFTER A DROPPING
= PERIOD OF SHORT DURA-
d 4 TION.
CASH CORN SELLING CHEAPER.
pig CIearances of Wheat Mt New
sRork-ProvfsiOns Drop on Heavy
Hog Receipts.


T CHICAGO, Dec. 31.-Wheat bid the old year
goodbye with its bull hat cooked on the
side of its head and its nose in the air in
derision at the discounted bears. 1t
Elosed with gain of &c after an early decline
Df 5sc. Corn and oats did not change their
Ealue materially for future deliveries but
fhe cash stuff was weaker. Provisions sold
pm on increased receipts of hogs.
Wheat was unsettled, showing decided
weakness early in the session and selling
OH 1ac, but made a sharp reaction later
and went up &c from the low point, but eased
on some. The only weak factor early was the
liverpool cable, which quoted that market as
opening higher, but losing all the improve
ment But trade was dull and the financial
outlook unsatisfactory. The longs, in view
OF tomorrow's holiday. and uncertainty at
tending the market, began to liquidate and
even up, which was an important factor in
bringing about the early decline Later,
however, the trade began to consider the
zeal bull news Of the day, and good buy
week were officially reported at only $500. 600
bushels, 900 bushels less than the
estimated weekly consumption. There was
no contradiction of yesterdays report of the
there we're confrmatory reports of a wet
Australian harvest: Another strong factor
Kork-nearly 100000 bushels-and then the
shorts got nervous and began to buy not
being willing to stand short the
holiday, when there was so much
that was bullish in the air. New
: York sent heavy buying orders and all do
mest1c markets were on the up grade May
sold from $3.50 off to Sc. then up to 60c
off to $3.50. closing at 59as@59Ac.
The business in the speculative depart
ment OF the trade was dull, but prices
were held steady by the firmness of wheat.
The cash branch of the business was heavy
and depressed by the anticipated effect of
the reference to tariff rates. which the rail-
roads expected to observe from the be-
4 ginning of the new year. Through billed
Z carloaes were sold at from &c to 1c under
yesterdays rates, and local billed was 1bc
lower. December corn closed &c lower for
the dav: January lost B@Hc, and May I'M
changed
2S0,00O hu. and all from unlicensed elevators.
The trading in futures was moderate only.
and mainly in the way Of evening up trades
previous to the holiday. May moved over
only 3Ffc ranging to the Bottom, Opening at
19c, selling I'D to 1870, off to 1S%c and clos
ing at 19019Rc, against 19c on the day
before
Provisions, which advanced yesterday be-
cause of the days OF hogs being small
or than expected, declined today because of
being disappointment Of a totally differ
ent cha~acter, the run OF ..S9 reported from
the y9rds being q, 600 head. in place of
$4,000 head as expected. Trade was of the
recent moderate volume; and without espe-
cfal sf"nifcanee- In the matter of individual
operations Compared with yesterdays clos
ing rr rs. the followings declines have oc-
January and May lard each. nc and in
Banuarv and MAY ribs each, &C.
Estimated recents for tomorrow: Wheat
SO cars; corn, ITO; oats, $50; hogs, "a 900
head
The leading futures ranged SIS follows: