St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1896-02-17
TRADERS ARE TlWID.
AND LACK OF SUPPORT CAUSES
WHEAT TO MOVE DOWNWARD
A NOTCH.
FAIR SPECULATIVE TRADE
GIVES THE MARKET TEMPORARY
STRENGTH EARLY IN THE
SESSION.
STOCKS ARE DULL AND HEAVY,
Due to the Efforts of Professional
Dealers as Well as Heavy
LiquidatiOn.
STOCKS ARE DULL AND HEAVY

CHICAGO, Feb. 15.-More from lack of
support than anything else wheat today was
weak and closed about &c lower. Traders
have been timid from the disastrous effects
of the past weeks surprising fluctuations,
and, as a consequence, have become exceed
ingly cautious.
Corn and oats were but slightly affected
and closed unchanged. Provisions had a
downward tendency and showed material
losses.
Wheat-There was a fair speculative trade
for short session, the market having B@1c
range. The feeling developed was a little
unsettled and prices rather nervous The
start was weak. There were good many
selling orders on the market and some of
the early sales were as low as 65Ac or at 1ac
decline from the close last night. But the
decline started some good buying, the
strength being increased by rumors that a
cold wave would invade the winter wheat
region tonight, and possible damage to the
growing crop was feared. AS the strength
developed shorts began to cover, and it did
not take long to advance the price to 66Ss@
661ec split. Among other routine news which
helped strengthen the situation was the mod
crate Northwestern movement and reports
that the bulk of the same was coming from
country elevators But the buying fever
gradually subsidized, and when the longs at
tempted to realize they found that the de-
mand was exceedingly tame, and in the eff
tort to get rid of their holdings, the price
was gradually lowered nearly 1c and there
was not much recovery. The Argentine ship
ments were quite factor in producing weak
ness, for the trade has heard so much of the
shrinkage in the crop and the bad quality Of
the wheat that the 100000 blu shipment was
surprise. Yet the total shipments for the
nrst two weeks of February this year have
been only 900 pu, against 1900 600 blu
the same time last year and 1000 900 Blu the
same time two years ago.
sa Nay wheat nesl opened about nc higher, with
sales sales at 65% @66c, improved gradually to 66ss
Qo6zsc, split. then turned weak and sold off
to 651sc, closing at 651ac bid
Corn was fairly active and sold I'D sharply
early, but finally lost all the advance It was
inHuenced some by wheat, and also by the
impression that the prospective change in the
weather might cut off receipts 1t followed
wheat at the last break
May opened fractionally lower, at 30@301s
split, up gradually to 361hc but weakened
later to SO1sc, closing at that price.
Oats-lrading was exceedingly quiet nearly
all the trading being done by country dealers
The market was Influenced almost entirely by
at 2l1sc, sold UP to 21%@211ac and closed lust
steady at 21Hc bid. -
Provisions were heavy. said to be because
OF the selling out of long stuff by stock yards
firms In anticipation of a heavier run of hogs
next week. May pork started at decline of
wound up with net loss for the day Of 121sc,
at $10.10 per barrel. May lard at the close
was worth $780, as against $50 on Friday
afternoon. May tits which closed yesterday at
1913, rested at $5.221a today. Estimates for
Monday-Wheat, 165 cars; corn, 300 cars; oats,
200 cars; hogs, 10000 head.
The leading futures ranged as follows: