The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-03-02
STRUGGLE TO RISE
WHEAT SEVEN-EEGHTHS HIGHER
IN SPITE OF SMALL FOREIGN
DEMAND.
WORLDS SHIPMENTS LIGHT.
TOTAL FOR THE WEEK BELOW
ANY RECORD FOR SEVERAL
YEARS.
WORLDS SHIPMENTS LIGHT.
40 END OF STATISTICAL SUPPORT
News of the Day All BuiIish in Its
Character-Other Markets Dull,
But Firm.

CHICAGO, March Wheat was firm and
higher, but the advance was only &Gzc,
Notwithstanding the smallest weekly world S
shipments for years, the almost total lack
OF foreign demand acting a drag the
market. The other markets were dull, but
firm. The opening in wheat was rather I'M
satisfactory. Trading at all times during
the session was light and spirtless, the
reasons for the cautiousness of traders being
felt throughout the day. Traders could not
reconcile the absolute indifference Of foreign
markets, as shown in the absence of any
demand, to the extraordinary lightness of
the worlds shipments and other figures
bearing on the worlds supply of breadstuffs.
The effect was especially apparent during the
first half-hour, the short selling of the eau
tious ones depressing the price &c in that
time. May opened at from 749s to 7424c,
compared with Saturdays closing price of
7412, and sank down to 741sc before it showed
any recuperative powers. From the latter
price it began its first feeble efforts at climb
ing, but gained Vigor as 1t progressed, and
was bringing 741sc about hour and half
from the start. The market had no end Of
statistical support. Liverpool was h@Ad
higher. That market did not hold all its
opening advance, however, Chicago receipts
were % cars, against JOG a year ago. Min
neapols and Duluth reported 800 cars COM
pared with 500 last year. Late in the day
the visible supply statement was completed,
showing a decrease of /, AIS 900 for the week,
compared with 922, 900 for the corresponding
week of 1896, making the total in sight now
43, 1877 900 bushels, against 64,089 600 bushels
at this date last year. That was the oc-
casion Of the first rise to 74Ac. The quantity
of wheat and -four on ocean passage decreased
1 hYrch o1c cd xryifh ;nn
of 100000 bushels on the similar week last
year, and the English visible decreased 1885,
900 bushels. It will be recollected that Ameri-
can shipments from both coasts last week
were 1,573, 600 bus and as the total from all
countries was only 1885, COO blu, 1t is seen
that this country supplied more than one
half Of the world. Russia's quota was only
1874 600 bus. That impaired little additional
vigor to the market on its being announced,
May bringing 7511c. A slight reaction fol-
lowed the posting of closing cables, at 1910
&c.
Corn was slow, but held quite steady with
firm undertone. The better feeling in wheat
was the chief factor, although both the Visi-
BILE supply and the amount on passage showed
decreases. Clearances were 1,047, 900 bus.
May opened a shade higher at 24c, sold to
24M@Ao and closed at 241ao. Oats were frJn,
but quiet. and nothing Of any special interest
developed. Shorts bought early and started
the improvement, while wheat contributed
aid later. A feature of the market was the
relative f1rmness of July which is lie over
May, due to the very large stocks, and the
certainty Of better carrying charges. The
visible supply increased 1872, 900 bus. May
opened q shade higher at tic, sold at 17Ac,
and closed at 17A@Ac. Firmness was the
general tone Of the provision market, but
the transactions were not heavy in the pit.
There was a clear disposition to buy rather
than to sell, the market being helped by
higher yard prices, and also, perhaps, by
will not be advanced. At the close, May
pork was 21so higher at $S.121h; May lard So
higher at $4.121k, and May ribs 212o higher at
S4.221k Estimates: Wheat 3S; corn 465;
oats 800; hogs % 900 head.
The leading futures ranged as follows: