St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1896-01-05
PRICE TOUCHES THE HIGHEST
POINT 1T HAS REACHED FOR
SOME TIME.
CONDITIONS WERE BETTER.
CONFIDENT EXPECTATION OF A
DECREASE LIN THE
VISIBLE.
NERVOUSNESS IN THE MARKET.
Corn Unexpectedly Dull and the
Business Confined to scalping-
Provisions Lose Strength.

CHICAGO, jan 4.-The grain mar
kets were all active and strong today,
the bullish tendencies of traders be-
Ing especially apparent in the wheat
pit. May wheat touched 603sc, the
highest mark for some time, and clos
ed with net gain Of sc over yeSter-
day. Corn and oats advanced &c and
h@Ac respectively. Provisions, after
opening strong and higher, lost nearly
all the opening advance, and closed
practically unchanged from last nights
close.
All Of the conditions and most of the
news favored better prices for wheat.
Gables came higher, the Improvement
being attributed to the political news,
meaning the trouble in the Transvaal.
The exports from both coasts for the
week were 3,965.000 bushels, or fully
100000 bushels more than a week ago
and 800,O bushels more than a year
ago. The total available supply is
17O,0OO,000 bushels or Is, 1000, 900 bushels
less than year ago. The weather
conditions, too, are unfavorable as con-
siderable crop areas are unprotected
by snow. The indications seemed to
warrant the conclusion that there will
be large decrease in the visible sup
ply. The shorts showed increasing
alarm at the outlook, and there was
active covering, while a good many
liberal traders who have heretofore
been bearish seemed disposed to change
their position and take the buying
side. So the advance was easy, but
soon reached point which started
free realizing, under which there was
some decline.
Wheat got hoist of from u to &c per bu
as soon as the opening signal permitted the
buyers to shout their bids. The first trans
actions at from price varying from 59N
10 bUc, ana, AFTER some active trading the Of
fer1ngs being all absorbed it shot up quickly
to 6ORc. Some heavy lines of long wheat
were disposed of at from 60c to 6014c. The
market here was very nervous, but within
narrow range after it had made its bulge to
6O1ac for May and got back again to $3.50.
The fluctuations after that were confined to
597sc for the bottom Of the range and 601a0
6014c, with 60c it's resting place for the day.
Corn was again dull and trading confined to
small scaling operations AS the fluctuations
in May, the active trading month were con-
fined within the range of 2S1sc and 2Sl4c, the
opportunities for scalping profits were of course
slender. The severely cold weather and the
strength In wheat caused the firmness which
resulted in Ac advance May which closed
at CSC yesterday, sold today at 2SAc, and 2SAc
sellers was the state of the market at the
close. ~
The strength of the wheat market, the
firmness in corn. and the cold weather, had
their natural influence on the oats market,
and 1t ruled firm and closed with an advance
Of 3-16c in the May delivery. Elevator men
were free sellers against purchases in the
country.
Provisions started very strong because of
an advance of sc in the price of hogs at the
yards, but weakened on an unexpected fore
cast that there would be a heavy run of
hogs next week. Pork retained 2hc of an
early gain of 121sc for May. and improved
TIC for January. Lard and ribs fell off
without change since Yesterday. -sii..s- ID.
Estimates: Wheat, 100; corn, $50; oats ITO;
hogs as, 900.
The lending futures ranged as follows: