St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1896-03-03
PRICES ARE SHADED
WHEAT DECLINES FRACTION
AFTER AN ACTIVE BUT IR-
REGULAR DAY.
) 1T WENT UP AND THEN DOWN.
BURNING OF A MILLION BUSHELS
AT MINNEAPOLIS Is MORE
THAN OFFSET
ny BIG GAINS IN CALIFORNIA.
Corn and Oats Are Neglected, While
Provisions Close Slightly
1T WENT UP AND THEN DOWN.
by BIG GAINS IN CALIFORNIA.
Corn and Oats Are Neglected, While
Provisions Close Slightly
Higher.

CHICAGO, March 2.-Of the two principal
influences controlling wheat today, the Min
peapolis elevator fire and the breakage of the
drought in California, the latter finally proved
the stronger, and May closed about 14c lower
than aturday'S figures, though opening strong
than Saturdays figures, though opening strong
both neglected, and closed trihe easier Pro-
visions closed slightly higher. In wheat fair
activity was displayed, there being a good
trade within 1Ac range The feeling devel-
oped was unsettled May started with gain
Of about Sc, and there were good reasons for
1t. Two elevators at Minneapolis holding it
was said l,500, 900 bu of wheat we're reported
to be burning, and commission houses here
had orders before the opening to buy in the
wheat sold in Chicago against large proper
tion of their contents. The Liverpool market
was only I'D higher, but the Russian ship
ments of wheat and -four for the week were
only 1,6SS,O0O blu, compared with $500, 900 blu on
the week before, indicating that the total
shipments from all the exporting countries last
week would be found much smaller than the
estimated weekly requirements With such
strong inducements, the buying for half an
hour was vigorous and general, and the price
Of May, which Saturday was 6712 to 679sc,
started at 6SGp6S1sc and inside of the first hour
1t had risen 10 6S11c. At this price, however
& strong inclination to realize was manifested
Several holders OF big lines took advantage of
the bulge to put them on the market, and the
price gradually eased off to 67%c. The life
went out of the trade when the decline took
place, and for hour in the middle Of the
session business got down to smaller proper
tons. The Atlantic port clearances were de-
wheat since Saturdays report, and only $3.50
bbls of flour. Then came the report of rains
in California breaking the drought prevalent
there, and under this influnece the price had
further reaction. The market for an hour be-
fore the close seemed to need bull news to sus-
tain it, and none being forthcoming, the price
got down to 67l4c. The latest trading was at
OK Q67Ac- Corn was quiet, and sold within
narrow lines. Hay opened firm and fraction
ally higher at 30&c, and advanced a trihe
with wheat but heavy estimates for tomorrow
caused a reaction, the closing figures showing
no change. Oats trading exceedingly
dull, and rather inclined to weakness, the
heavy receipts and expectation of continued
free arrivals having a depressing influence
May opened unchanged at 21Ac and ruled
easy, closing at 211sQ21Ac. Provisions opened
strong at a good advance, due to the better
prices prevailing at the stock yards, but there
was considerable selling at the Improvement,
and prices gradually receded. At the close
pork showed an advance of 71ac and lard and
ribs DC each. Business at no time was heavy.
Estimates: Wheat, 80 cars; corn, 500 carsJ
oats, 400 cars; hogs, %, 900.
The leading futures ranged follows: