The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-03-06
CHICAGO WHEAT THAT MUCH
HIGHER ON THE TIDINGS FROM
CRETE. ------
ALL SORTS OF BULL NEWS.
LACK OF SHIPPING DEMAND THE
ONLY SOFT SPOT IN THE
PIT.
OTHER MARKETS AFFECTED.
Coarse Grains Moved Up Half "a Cent
and Provisions Were in Active
Demand.

CHICAGO, March 5.-The advance of 1c
bu in wheat today was entirely due to
the increasing possibility of in Europe.
The market was strong all day. Practically
the only bear factor was lack of shipping
demand. All the other markets were al
fected TO a greater or less degree, corn ad
vancing Nc oats re and provisions 5Ql212c.
Bulls in wheat had all kinds Of news to en-
courage them at the opening The first cables
from Liverpool showed an advance Of &@1d,
and British consols were 7-16 per cent lower,
the action in both cases being, of course, due
to the further complications over Crete. These
indications of increased uneasiness abroad,
obscured every other matter Of routine news
at the opening. The next important piece
Of intelligence the prediction sent out
by the signal service Office that the mild
rainy weather Of today would be succeeded
tonight by a cold wave, which was already
en- route
May was wanted at 76AQ7612c as soon as
the session started, compared with yes
terday's closing price of 75160 759sc and i'm
mediately advanced to 1850. Then the only
important reaction of the day occurred. The
later Liverpool cablegrams reported a loss
of from 15d to "a from the opening price of
futures. New York wired that only few
loads of last nights offers by cable had been
accepted, although in the course of the fore
noon the number was said to have been $50
loads. The figures of the movement for the
last twenty-four hours have no encourage
ment to buyers. Minneapolis and Duluth re-
ported 29S cars, compared with 100 week ago,
and 331 the corresponding day of the year
before. Chicago receipts were very small,
the number Of cars inspected being only 16,
compared with 40 year ago. Atlantic port
exports Of wheat and -four equalled $50 600
blu. Estimates upon the decrease in the visi-
bic for the week were close around l 1000 900
Blu.
The price of May gradually worked down
to 75sc reaching that point shortly before
IL o'clock Closing cables had in the mean
time been received which gave spot wheat at
Liverpool 11Ad higher, and the war fever
broke out afresh. Disquieting news poured
In from the East, many of the foreign houses
advising that war imminent and the price
rose to the highest point of the day. 766sc.
1t was in demand at that price at the close
Corn developed a decidedly larger market
The burning of the big Peoria elevator com
PEELED good deal Of hedging, although the
european situation was at the bottom of the
strength There was only one weak spot
realizing shortly after the opening causing
reaction, but prices were at no time got to
yesterdays level. Exports were 793O 600 bu
May opened &c higher at 24Ac sold between
243A@24A and 244sc, closing firm at the top.
In oats the feeling strong during most
OF the session. Sympathy with wheat and
corn was the conductor of the better feeling
Shorts covered generally there being con-
SIDERABLE buying against the Peoria fire loss.
May opened 1sc higher at 17Ac sold a shade
lower and advanced to 1714@179sc. where 1t
closed. There was an active trade in pro-
visions and strong market. Small hog re-
eeiISs and war news resulted in good open
ing advance, but offerings were sufficient to
cause reaction The demand became very
heavy during the day, the Cudahvs being
especially large buyers, and the price adj
yanced again, closing strong at the top At
the close May pork was 1214c higher at IS IS;
May lard, DC higher at $4.20 and May ribs
TIC higher at $4.S712. Estimated receipts
saturday: Wheat II cars; corn, 295 cars
oats, $50 cars; hogs, 25,000 head.
The leading futures ranged as follows: