St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1896-01-09
IN GREAT SMELLS.
WIDE FLUCTUATIONS IN WHEAT
AND CORN THROUGHOUT THE
DAY.
WARLIKE NEWS RESPONSIBLE.
OPENING STRENGTH IN WHEAT
THAT DID NOT HOLD VERY
LONG.
RAPID ADVANCES AND LOSSES.
Wheat Finishes at Lower Prices, but
Corn Scores u Gain-PrOvis-
ions Firm.
WARLIKE NEWS RESPONSIBLE.
RAPID ADVANCES AND LOSSES.

CHICAGO, Jan. 8.-There was heavy trad
ing in the grain markets today than some
time past and fluctuations were rapid. The
sonber foreign outlook at first exercised
powerful influence, but later news was more
pacific, the market yielded more to ordinary
Influences and eased off. Wheat opening ir-
regularly at 61@60Bc sold to 61Bc, and
closed 60h@DG0Ac, a loss of &c compared with
last night Corn held its strength better and
closed Nc higher at 29hc while oats lost
their early gain and closed practically IN
changed at 1910. Provisions made substan-
tial gains, pork showing an advance OF 27lc,
lard SC and ribs TIC. ?
Wheat opened strong but very irreguarIy
and under some little excitement. The first
transactions in May were made over range
Of kc per bu, at from 60Bc up to 61Bc.
Only one or two trades were effected at the
top and bottom prices, the bulk of the trans
actions during the first few seconds having
been at 6OMc. The price rose and fell for an
hour in mighty swells Of active trading be-
tween 6O12c and Gle, but after the first if
teen minutes OF the session the tendency for
the remainder of thu hour was generally
downward. The opening strength was the
expression of the doubt in the minds Of the
operators regarding the probabilities of an
Anglo-GerInan After the opening strug-
gle at G0bc and Gle, there was a gradual de-
cline to G019c, and that was followed by u
recovery to Ole again, due to report issued
by Stat1stician Thoman, which gave the COR
dition of the winter wheat plant in the six
states which grew 1t most largely at 1871,
against S4.4 on Dec. l, and adding that ISL
Is the lowest status of the plant ever re-
corded IN the month of January. But the
upward movement aroused some OF the big
shorts to make hot fight, and great vol
unne OF wheat came on the market and the
advance was checked. The news came then
less bullish, consoIs recovered the decline
ana the later cables quoted wheat lower, and
Argentine adVices reported clearing weather.
anu sald that Argentine wheat was offered
IN London TO arrive at lower prices. With
this the market here soon became heavy
and many of the early buyers began to sell
out and it did not take long for the price to
go of 1c from the top and 1Sc below the close
last night. The market was quiet but steady
curing the last hour, May holding at COO
oO1sc TO 6o1sc, but without much business,
and closed at 60B@60Ac.
Corn opened strong under the continuation
OF the Warlike political situation in Europe.
and 1uctuated rather wildly Nav which
closed yesterday at 2SBc, started from 29c
up TO 29Ac, and rose excitedly to 29%c. Calls
for the day came into play at the advance
and selling against these privileges brought
about gradual but irregular decline The
bulk of the selling after u o'clock was at
from 29A to G92sc.
Oats were strong in sympathy with the bet
ter feeling in corn, but most OF the early
gain was lost. May sold from zoe to 2Oac
figures. '~,ee1O
Provisions started firm, and maintained
that condition all day. The same influences
which had started wheat and corn were at
work In the hog products markets. and I'M
like the traders in grain, the provision men
kept up the good demand with which they
1naugurated the business of the day until
the session was over. Offerings of products
were light and that was a feature of the
entire days trading The days advance in
pork was 25@27Ac; in lard, 5@71bc; ribs,
12kc.
Estimates: Wheat, 65 cars corn, $50; oats,
1876; hogs, $1,000
The leading futures ranged as follows: