The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-03-20
GOOD WHEAT GAIN
NEARLY A CENT ADDED TO THE
PRICE OF MAY AT CHI
CAGO.
SHORTS INDUCED TO COVER.
HEAVY EXPORT BUSINESS AND
VARIOUS WAR RUMORS THE
LATE FACTORS.
SLUMP FOLLOWED AN EARLY RISE.
In the Final Rally Prices Were Car
ried Up To "a Net Gain for
the Day.

CHICAGO, March 19.-Prices on the board
of trade showed a general improvement at the
close of todays trading. Wheat was the most
active, and shorts were induced to cover
freely, near the close of the session, on re-
ports of heavy export business at the sea-
board, and a various assortment of war ru-
mors from the continent. May wheat closed
&c higher, corn &c higher oats BQAc
higher and provisions 2Rc higher.
Wheat opened at a slight advance over yes
terday's closing prices, the demand at the i'm
mediate start being more urgent for May
than July. 1t might perhaps be more cor
rect to say that there was more pressure to
sell the later delivery at that time The
extra pressure on July widened the difference
between 1t and May from 1c per blu, at
the close yesterday, to 112c about an hour
after the trading began this morning. The
opening advance had in the time mentioned
been transformed into a slight decline in May
and somewhat decided drop in July, CORE
spending to the widening of the spread re-
ferred to. The initial advance was caused
by Liverpool quoting advance of I'D per
GENITAL which it was concluded must be be-
cause of a better consumptve demand in the
United Kingdom, seeing that there had been
no encouragement from here the day before.
The shade Of weakness which succeeded the
slight raise at the start was at first more
the result Of the action of few heavy local
scalpers than further news. In the course
OF an hour private cablegram reporting I'd
OF the opening advance at Liverpool lost
helped the people who had espoused the bear
side. May got down to 1870 and July to
7212Q723sc, and after recovering NC, trade
almost died out for a time
May wheat was noticeably scarce when
wanted, and the demand for it was stimu-
lated by the revival of export business. New
YORK reported 81 boatloads sold for foreign
shipment all but six loads, however, for May
and June shipment. Here n 600 blu were sold
for shipment to domestic millers. The early
short sellers bid actively for May, and near
the close that option brought 75Bc and closed
bid at 75c.
Corn was firm from beginning to end. The
continued large clearances from the sea-
board, which, although an every day occur
renee now for some weeks, are phenomenalIy
large as compared with any previous season,
helped the price considerably. The reported
exports today were almost LOCO, 600 blu. May
opened a shade higher at 24%c, sold for a
moment Lice lower then hardened and the
price was around 25c in the last haIf-hour
puG reached zosc finally, and closed with
sellerS at That and Csc bid. Up to within
haf an hour of the close oats were slow. and
no news OF any account developed The feel
ing early was inclined toward easiness. but
nrmed up later. when wheat did likewise
May started unchanged at 171Ac sold To 173am
1112c, and closed with sellers at the ton Drtce
provisions were fairly active and firm. Pack
ers were said to be quite heavy sellers of ribs
through brokers' May pork May lard and
way IlDs each closed at gain of 21@c. Esti-
mated receipts: Wheat IS cars; corn 1S5
cars; oats, 10 cars; hogs, 5000 head
The leading futures ranged as follows.