The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-01-08
FRIGID FOR SHORTS
CHICAGO WHEAT BULGED CENT
BEFORE ALL WE'RE ABLE
TO COVER.
MARKET OPENED FlRMER.
AFTER A TEMPORARY SETBACK IT
WAS STRONG UP TO THE
CLOSE.
HEAVY ENGAGEMENTS FOR EXPORT
HEAVY ENGAGEMENTS FOR EXPORT
With Small Local and Northwest Re-
ceipts Were the Features Which
Controlled the Traders.

CHICAGO, Jan. 7.-Wheat opened strong
and closed at improvement for the. day at
1c per Blu, after an intermediate early de-
cline to sc below the lowest it sold at yester-
day. Some Of the shorts covered, but many
more are still out in the frigid weather.
great deal Of the strength came from the
heavy export engagements reported from
Boston. Other markets were extremely dull
bur steady, corn closing shade higher, oats
1sc higher and provisions sc higher. Wheat
had recovered from the extremity of yester-
days depression by the time of beginning
operations of another day. 1t started with
rise Of re, or at from S17sc to SIC for May.
Only for a short time, however, did the fair
opening promise for the bulls continue, and
they had to suffer another bad half hour until
the bull news began to change the tone of the
market. In the course of the next hour il had
recovered 10 S2&sc. The firm opening was
caused by opening strength of Liverpool and
the small local and Northwest receipts. The
Ohio state crop report, which gave the condi-
ton Of wheat at IS, compared with 1O1 in
December was also conducive slightly to the
opening advance. Liverpool, while noting
decline of ed per GENITAL to start with as
cribed it entirely to sympathy with the pre-
vious day depression here. Chicago received
10 cars, compared with 81 a year ago; Mime
apolis and Duluth got only 209 cars against
26l a week ago and 53S on the corresponding
day of the previous year. The temporary de-
cline which followed the opening advance so
quickly was partly because of second tele-
grams quoting further decline, of Liverpool
and partly owing to the bearish tone Of the
Cincinnati Price Currents remarks concern
ing the condition Of fall-sown wheat. Evil
dences Of continuing demand for wheat from
the United Kingdom then came in and turned
the course of the market. kilograms from
Boston, New York and Buffalo reported YES
sells engaged at the former place for great
quantities of grain for the United Kingdom;
In fact AL the available ocean freight room
at Boston until April. Buffalo said $50 900 bu
OF wheat were under order to go thence to
Boston, and a New York message reported
that good deal of the Boston vessel room
was taken for wheat from Chicago. About
half an hour from the close May was bring
ing $3.50, and it closed at 8212c sellers
Corn was inanimate, notwithstanding some
disturbing rumOrs about immense uuanti-
ties OF hot corn in railroad cars at New Or
leans ana Galveston, which were, however
officially contradicted from both places The
business in the pit was very small and the
fluctuations in price narrow. May opened a
shade lower at 253sc, declined to 25Hc re-
covered to and closed at 251ac. Receipts were
only SO cars. Oats were a shade firmer as
the break yesterday seems to have started
considerable buying both to cover shorts and
for the long account. Trading was extremely
narrow, with little business and that in small
lots rumor to the effect that charters of
boats at Boston for three days amounted to
LOCO, 600 bu assisted materially in the late ad-
vance. May opened 1sc higher, at 1885, sold
back to 1880, and recovered to 1880 at which
price it closed. Tladng in provisions aim st
fell to nothing, not a single transaction be-
ing recovered in the first half hour. Opening
prices were nominally a shade higher, in
sympathy with a lighter run of hogs than
expected When trading did commence this
ADVANCE was maintained and a little more
added to it, aided, perhaps by the strength
OF wheat At the close May pork was sc
higher, at $7.S5; May lard about sc higher
at $3.9112Q4, and May ribs about sc higher at
81. Estimates-Wheat, 16; corn, 1O5; oats, %;
hogs, % OG0 head.
The leading futures ranged as follows: