The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-03-02
MARKET SUMMARY.

CHICAGO, March Wheat was strong and
weak by turns today. but closed on the top of
a gain of lh@l9sc. Support from the Letter
interests was prominent at times, but there
was plenty of influential bull news. The
big short interest, formed last week, was
evidently fac from eliminated. Corn was
strong and advanced Sc Oats also showed
streng h, closing &c higher. Provisions scored
Although news from Liverpool was distinct
ly disappointing. the opening in wheat was
strong, July starting 1s@Ac higher at $3.50
90c, and May unchanged to &c higher at
$L0l94@ Los. There was quite a good de-
mand from shorts who has not covered yes
terday, and the demand from this source
was sufficient to overcome any ma ural weak
ness of the market. The fact that Liverpo |
had lost its slight opening advantage before
trade commenced here and that receipts of
wheat at the English market during the last
six days were up TO the normal weekly re-
quirements had the effect of bringing out
liberal offerings that temporarily wiped out
the opening advance here. and for short
time the market showed weakness.
After July had declined to S93sc and May
that prices advanced. Some support was
given by Letter and other prominent bull
interests and this brought the more timd
shorts into the pit. In addition there was
covering of a line of st. Louis houses Pros
poets of a cold wave following rain through
otu the winter wheat belt had some influence.
On this bulge May got up to $l05 and July
TO 90ssc. Then the market reacted A good
deal of wheat, showing substantial profit,
came on the market and prices tend down.
ward for some time May finally getting to
SLq1a, and July to $3.50.
steadier feeling deveooed on the liberal
Atlantic port clearances, AS bu. and re-
ports, which were afterwards denied, of the
engagement of $50 leads of corn for export.
No impression made on prices, howe er,
trading about that time beng extremely limi.-
After u o'clock some activity was again
manifested. Br; ds.reets reported the worlds
visible decrease at 3,516 coo bu. This amount
pected, and brought in a fresh lot of buying
orders and resulted in an advance in July
ly reacted, the market being loaded up with
long wheat. but in the last twenty minutes
trading. the Letter forces starting things
going with some lively bidding. and prices
climbed in a hurry. By closing time May
had advanced TO $1.05A July rose to 9lAc
but reacted just at the close to 911sc.
Corn developed a good deal of strength on
smaller trading than of late. Opening strong
and higher, with wheat, prices eased off some
on the heavy receipts. but such good sup
port developed that the market advanced
rapidly. most of the gain being maintained
through the late gyra 1 ms of wheat Heavy
clearances had much influence. The blu ing
was general. May ranged from 30&@}CAc,
and closed sc higher at S05se.
The market for oats was dull and fuc ia
course of corn. Offerings were mostly taken
by elevator people. probably against sales of
oats for export May ranged from 263sc to
26hc, and closed about sc higher at $3.50
Provisions were weak during the morning,
but strong later. Market opened STEADY. On
the moderate hog supply, but continued heavy
selling by a prominent commission house
caused prices to sag There was also a good
deal of short selling. During the latter part
of the session a good demand sprang up
and near the close, when wheat made its
bulge, buying became quite free, and general.
Market closed firm at near outside figures
May pork PIC higher at s1O.42A; May lard
PIC higher at $5.17la, and May ribs 7I&c high
er at $500.
Estimated receipts Wednesday: Wheat. rs