St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1896-02-11
BEARS HAVE 4 TURN
BULL NEWS SCARCE AND SHORTS
&. RECOVER SOME OF THEIR
LOSSES.
e
FOREIGN MARKETS ARE WEAK,
5AND WHEAT CLOSES NEARLY
{, CENT LOWER THAN on SAT-
URDAY.
CORN WAS A SHADE EASIER,
While Oats Were Heavy, Influenced
by Wheat-LOwer Prices Rule
for Provisions.
FOREIGN MARKETS ARE WEAK,
Urn WAS A SHADE EASIER,

CHICAGO. Feb. 10.-There was break in
the run Of bull news which wheat has been
having for the past week or two, and short
sellers recovered of their losses, May
closing &c lower than Saturdays closing
price. Corn is practically unchanged, and
oats &c lower. Pork declined 71ac, lard 21sc
and ribs DC.
In wheat there pretty good trade
the market having 1c range. The feeling de-
veloped was weaker during the early hours,
but later a steadier tone prevailed. The early
news was quite bearish and holders were in
clined to realize. Northwestern receipts
were heavy. Liverpool and Berlin markets
were weak, and the Black sea ports shipments
were reported as much more heavy last week
than they have been OF late. The fields are
already well protected against cold,
and reports from Eastern millers to
the effect that wheat relatively higher
than -four and precluded the idea of further
purchases of spot grain in this market pend
ing the readjustment of its value to the price
of the manufactured article All this had
a decidedly weakening tendency, and May
wheat, which on Saturday closed worth 67B
,967Ac, opened this morning at from $3.50
down to $3.50, and had worked down to
66Ac in the course Of another hour. The
market was steadied by the liberal exports
the total of wheat and flour aggregating ST.
o0O bu There was good cash demand re-
ported at the decline, and this was also some
thing of a factor. the total sales being $780,
900 blu. The decrease in the visible 615
600 blu, against reduction last year Of ], 0o4
600 bu More selling induced antic-
1pated large local receipts for tomorrow, and
the price had further decline. first to 66c,
around which point there a protracted
struggle, and then to 65Ac where the
test was arrested for a time. The weakness
continued during the last hour, and May
wheat went to $3.50. After that it rose quick
Jy to 661ac again and left off at 66$sc. The
recovery was due to the report that in jan
uary the worlds stock of wheat and flour
decreased 21,965, 900 blu and to the taking of
about 200 coo blu of cash wheat here for rail
shipment and twelve boatloads at New York
flor export.
Corn was quiet and shade easier with
wheat but light receipts and free exports
prevented any material loss. Trade dull
and narrow. May opened unchanged at 303sc,
sold to 303s @30kc and off to 30Mc. There was
ia little rally in the closing hour, and May
reacted to 303sc, at which it closed.
Oats were quiet and heavy, influenced by
wheat. May opened &c lower, at ZINC, sold
lat 213sc, declined to 21c and closed at 21Ac
bid.
/ Provisions were inclined to weakness at
Rthe opening, account of the unexpected
subscribed the offerings, and prices held well.
EBut the heaviness of the grain markets in
tthe afternoon had a depressing effect, prices
declining at the close to near the lowest
Figures made at the start, May pork, which
Ecosed Saturday at $10321a opened at from
k$10.271a down to $0.22K, recovered to S10.35
Eand closed at $1O.25 bid May ribs opened
price bid. May lard opened 21ac lower. at
$685. sold to $5.67la and closed at the open
ling prices.
!. Estimates for Tuesday: Wheat, $50 cars;
corn, 300; oats. 260; hogs. $4,000.
The leading futures ranged as follows: