St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1896-02-01
SH0RTSIp HIGH GLEE
REALIZING BY HOLDERS OF LONG
WHEAT GIVES THEM THEIR
OPPORTUNITY.
WHEAT DECLINES A FRACTION.
MARKET AFFECTED BY HEAVY
RECEIPTS At DULUTH AND
MINNEAPOLIS.
HEAT DECLINES A FRACTION.
PROVISIONS MOVE UP A LITTLE,
in Sympathy With the Decline
in Wheat.

CHICAGO, Jan. 31.-This was day Of real
iZation long wheat. Not only that, but
short sellers who for few days have watched
like cat at a mouse hole for move on the
part of the longs in the above direction,
Hooded the market with their offerings. The
price closed at a decline for the day of &c per
bu. Corn and oats each a little lower in
sympathy, and provisions moved up a little.
Wheat was affected at the opening very much,
as 1t was at the same time the day before
by heavy receipts at Minneapolis and Duluth
and the mldness Of the weather while higher
quotations from Liverpool were ignored at
the moment, and the price for May started at
from 65Ac to 65asc, as compared with $40
$3.50 at the close yesterday. After further
decline to 65Ssc the price began to recover
again and rose in very short time to 66Ac,
or about as high it got on the previous
days bulge. The advance was chiefly due to
the bullishness Of the wheat situation as set
forth by the Liverpool corn trade news,
which estimates the wants of the importing
countries for the whole season at 408 900 900
bu against available supplies Of 1886, 600 600 bu
ana says that the deficiency of 70 600, 900 blu
can only be made good by reducing the
amount afioat to its lowest possible limit and
using every available bushel in Russia and
America.
The trading was active for about an hour
and a half during the fluctuations recorded
above and while the market had another
range over the same ground, but after that the
pit Quoted down for an hour for want of any
thing further of exciting character The
price meantime had worked down around
$3.50, and did not for some time get away
from between that and 65%c. Later the mar
ket began to feel the weight of the sales
which had been made at around CSC, and by
II o'clock it had begun to wear very de-
Jected appearace In half an hour it had de-
clned to Csc, sellers, or nc decline from the
highest point it touched earlier The stocks
az Minneapolis and Duluth are estimated to
have increased 800, 900 bu this week and New
York stocks to have decreased $50, 900 blu. The
prevailing opinion with regard to the visible
for the week was that it might show a small
increase, or at least a very light decrease,
and probably the heavy operators were in
1uencedo by that in selling as freely they
did. Business was very much smaller than
on the previous days of the week, and, as OIL
the day before. 1t largely on local &C
count. The closing figures were 65@65%c,
practically the lowest of the day
Provisions were Irregular opening firm,
and after a weak spell showed strength
with closing prices moderately higher for the
day. The general impression in the pit was
that soon after the opening Cudahy's brokers
were the chief bidders for product but after
they had ''jollied'' it up they became sellers.
Estimated receipts for tomorrow: Wheat
So cars; corn, 435 cars; oats, 200 cars; hogs,
5000.
The leading futures ranged as follows: