The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-03-30
STRONG ON ScARES
BAD CROP AND WAR NEWS SENT
CHICAGO WHEAT PRICES
UP.
TRADE WAS RATHER LIGHT.
NET GAIN OF THREE-EIGHTHS
SCORED FOR THE MAY
OPTION.
AN UNEXPECTED BULGE IN CORN.
Shorts Tried to Cover Their Lines,
but Found Nothing to Buy
Oats Higher.

CHICAGO March 29.-Bad crop reports and
a renewal of the European war scare made
a strong wheat market today, but the light
ness of trade prevented much advance, the
May option closing ssc higher. Corn had
sudden bulge and close 3sc higher. Oats ad-
vanced Ac and provisions closed TIC lower
to PIC higher.
Wheat started firm, Notwithstanding some
matters of a discouraging character. The
amount Of wheat on passage decreased only
100000 blu last week, notwithstanding the fact
that the quantity put afoat in that time from
all countries only 600 bu. Beer
bohm's report of the worlds shipments for
the week made the total 4,270, 900 blu. The lat
ter feature of the weeks international trade
was one of the reasons for the opening
strength, although the irmness principal
ly attributed to a Ia decline in British con-
soils, and louder rumblings from the war
threatened East. Northwest receipts were
very heavy, but this feature of the mornings
news was almost entirely ignored. Mime
apolis and Duluth reported S44 cars, against
1874 last week and 535 on the corresponding
day last year. Chicago receipts were IA cars
and $4,000 blu were withdrawn from store.
Opening sales of May made at 1870
73c, compared with Saturdays closing price
of 72%c For over an hour the market ruled
very dull, but the highest of these quotations
was exceeded after the visible statement was
published. Perhaps the latter, bullish as it
was, would not have stirred the trade much,
but about the same time Shows crop re-
port was given out, making the general aver
age condition for winter wheat 1915, against
81. year ago, and remarking that the pres
ent Is the lowest April condition record
except that of 1885. Shorts took alarm at
this and bought in a considerable portion of
their long wheat, which caused May to ad-
vance to 1890. During the last hour some
reaction occurred on crop reports of a differ
ent tenor, May closing steady at 73bc
Corn surprised the scalpers in the middle
of dull session by doing something excit-
ing. Some shorts, influenced by bad reports
as to the condition of country stocks tried
to cover, but found none to buy Buyers for
the long account made their appearance and
prices went up in hurry. good seaboard
demand was also a feature. Exports amount
| ed to u.s. 900 blu. May opened a shade higher
at 249sc. sold sparingly at 241A0245sc rose to
25c, and closed at 247sc bid Oats were quiet
and embarrassing during the greater part of
the day. The feeling was firm, but no ad-
vance resulted until late in the sessions
corn pit bought freely. Seaboard clearances
were ,00O blu. May opened a shade higher
at 171sc, advanced to 1712c and closed steady at
IIAQ1I9sc Provisions opened heavy at sharp
declines, due to an Unexpectedly large run
OF hogs and ruled weak during the greater
part of the session. The frmness in grain
finally infused more confidence in traders and
reaction set in near the end which was
than in pork At the close May pork was
about nc lower, at S. 52h0S55; MAY lard.
232c higher at $4.2212. and May ribs I'M
changed at $4.60. Estimates: Wheat IS cars:
corn no cars; oats, 1875 cars; hogs, 10000 head.
The leading futures ranged as follows: