The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-02-05

CHICAGO. Feb. 4.-Wheat closed, as 1t
opened, today strong and at PC advance
over Yesterdays final figures. There was
long period of weakness, caused by liberal
Northwest receipts and prospects Of small
visible decrease, but Letter buying and
strength which developed in provisions and
the coarser grains caused a firm market
during the afternoon. Corn advanced 1sc.
Oats closed 14@3sc higher, and provisions
touched the high mark OF the season, Closing
2b071&c higher.
Opening trades in May wheat were at from
Ac to &c over yesterdays closing hgures,
May ranging all the way from 94?sc to 9o1sc,
in different parts of the pit with quite a
good trade at those figures. The market
was helped by the unexpected advance OF
tsd at Liverpool, where decline was LOOKED
for. 1t supposed this strength was
due to the falling off in Argentine ship
ments, exports from that country last week
being but $4,000 bu. or nearly 100000 blu
under these of the week before. Traders
here looked for figures close to the million
mark, and the shortage was pleasing sur
prise to holders.
notwithstanding this Liverpool strength,
the market for a time after the opening ap-
peared to be in control of the bears. North
west receipts continued heavy. Minneapolis
and Duluth reported 432 cars, against 1874
last week and 299 a week ago. Chicago re-
ceipts were % cars.
The Kansas crop report was very favora-
BILE, and there was an early 12c drop at
St. Louis. The effect of this was that in
side of thirty minutes the Liverpool ad-
vance was disregarded and prices declined
May dropping to 9412c, recovering to 94%c for
a moment, then turning again and not stop
ping until 94ssc had been quoted, which
occurred at II o'clock. During this de-
cline there was quite free selling for St
Louis interests and local shorts also mate
rally increased their outstanding lines.
feature which had a tendency to in
crease the weakness was early tgures on
the visible supply indicating a rather small
decrease next week But before noon, the
market began to recover. Practically no
Influential support had been given during
oversold. At bottom prices, brokers for the
Letter interests commenced bidding, and,
aided by a lot of late bullish news and
marked strength in provisions and the coars-
which carried the May price to Csc.
Closing cables were firm, and showed sub
stantial advances. Export clearances from
wheat and flour to $4,000 bu
Realizing started afresh after the advance
TO csc, and a reaction at 1850 was the con-
sequence but near the close reports of a
great demand at Minneapolis for low grades
Of wheat owing to scarcity of better quail
files and reports of q loads taken for ex-
port caused renewed buying demand, and
advanced May to s5Hc, the highest point Of
the days range. 1t closed firm at that hg-
ure.
Country offerings were freer, but cables
were higher and receipts light, and there
was good investment buying. The market
was also helped by the strength in oats.
ranged from 291sG294c to 29c, and closed 1ac
higher at 291sc.
Market for oats was very strong and May
against sold at the top price OF the crop,
241kc Buying was free and general all
day elevator interests and shippers being
prompt There also considerable In
vestment buying The selling was principal
ly IN the way of proft-taking. The urgent
cash demand was a bullish factor May
ranged from 2412c to 24Ac, and closed Aqasc
higher at 2412c.
Provisions sold at the highest prices Of
the season. The market early was weak
on the decline in hog prices and on COM
mission house realizing. Outside of
this offerings were small and
little buying easily advanced prices. Shorts
were free buyers, as the market improved
and the demand became quite general toward
the close. May pork closed TIC, higher at
$1O.271a, May lard 21ac higher and May ribs
&c higher at $40
Estimated receipts Saturday: Wheat, 40
cars; corn, $50 cars; oats, 1870 cars; hogs,
% 600 head.
The leading features ranged as follows