The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-03-19

CHICAGO, March 1S.-The appearance of
cold weather in the Northwest today brought
an end to the long spell of weakness in wheat
and caused heavy buying both in May and
July The market strong throughout,
May closing 1l2c higher and July 1A@1%
May closing 1l2c higher and July 1A@13sc
higher. The same influence ruled in the
coarser grain markets, and corn and oats ad-
vancing lAc each Provisions were very dull
and inclined to weakness, though price
changes were small.
Wheat started firm, July 1Ic higher at S51s
GS5l@c, and May &c higher at ST. 04I9c 1t was
raining throughout the West. in itself a de-
pressing feature, but freezing weather was
reported In the Northwest, and there was a
good deal Of apprehension of the frost line
extending over the water-soaked winter wheat
helds. Possible damage from this source did
not at hrst result IN great increase in the
buying demand, but it stopped the selling
pressure, and shorts anxious to cover found
Il necessary to advance their bids materially
before securing the desired wheat.
In the first forty-tive minutes trading July
was advanced to S5%c Then realizing by
scalpers caused a reaction to S5ssc where the
market hung for short time. After that
the market gradually became stronger and
trade broadened out considerably. Late ad-
vices from Liverpool showed sharp advances
both IN cash and in the deferred futures
Private advices from the Northwest said
mat stocks tn re were nearly exhausted. These
reports were given some color by the falling
OF in Minneapolis and Duluth receipts those
TWO cities reporting 2l5 cars today against 430
ceipts, Jos cars, of which SO were of contract
grade. The total addition to contract stocks
was 1lS,C09 bu. private houses contributing
rs cars and 10000 blu.
The seaboard advces were of a bullish char
acter, an improved foreign demand at bet
ter prices being reported. The demand for
July became quite general about the middle
Of the session. Outsiders came in to the mar
ket in greater numbers, while local shorts
were heavy buyers. The price of July reached
Boise on this bulge Another short spell of
realizing caused a reaction to S5s4c, but
towards the end of the session buying again
became heavy and prices advanced. The mar
ket ruled strong to the close, July advancing
20 S6AQS63sc and closing strong at S6Ac.
Quite large trade was done in May Cali
fornia shorts were especially good buyers Lo-
cal traders who have been heavy sellers of
that delivery lately also bought back some of
their lines. Letters brokers were free SELL
ers, but the market was strong enough to
absorb everything offered, and probably &c.,
600 bu was disposed of by the Letter people at
prices around $1051ac. May sold as high as
S1.G6 and closed at 81 052ic.
Corn was strong, though not very active
May ranged from 29l4 q 293sc to 29c. and closed
&c higher at 29l4c. Oats were fairly active
and stronger. May ranged from 25&4c to 2512c
and closed l4c higher at 255s92534c.
Provisions were very dull. and on the whole
weak. At the close. May pork was 21ac lower
at So 90; May lard unchanged at $5.15, and
May ribs unchanged at $50
Estimated receipts Saturday: Wheat, 1870
cars; corn, 30 cars; oats, 104 cars; hogs, H.,
300 head.
The leading futures ranged as follows: