The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-01-25
WHEATCI.oSED HIGHER
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CHICAGO. Jan. 24.-Ordnary market con-
sideTations were tsbcoed in the wheat pit,
today, ewing to the furry In Wall street.
There was considerable excitement at times,
and the sentiment became so bullish that May
wheat a. one time was bring. ng 1$ac over
iast nign:'s close. Part OF TINS advance was
lost on account c: the ealing u profits,
but ct the c ose May showed 1Ac improvem- Mt
Tor the day. Corn dschnei &C and cats, se.
Fork left of &c Ligker, lard lost 25sc ana
Nervousness in professionals and higher
cables fIom Liverpool started wheat strong.
May cpened sc higher at I2'2I12ase, but
realization became general that
the price touched 72Ac in a
few minutes. That was the low point
the day, IS Wall street interests commenced
buying en- iaIso scale, and the local talent
was only too willing 10 follow this lead.
the ordinary statistical condition regarding
the daily movement Of wheat received scant
attention, aad as there was little wheat Tor
sale buyers soon got excited and hid prices
up to secure 1t Shorts rushed to cover, and
there was considerable buying for the long
account, while under the excite nent May
adv ancod steadily until i touched tSAc. AT
this figure there was handsome profit for
holders Of call privileges and the temptation
10 cover them became SO great that selling
became general. About this time st. Louis
and Minneapolis sent several large selling
orders and as the shorts had partially re-
covered from their fright, May was allowed to
sag lc.
Receipts here were 166 cars, compared with
5S5 the corresponding day of the year before
Minneapolis and Duluth received 5ST cars
against S2S last year. and the total at all
the chief Western markets amounted to 49,
coo bu whereas 3l5.G0G bu comprised the
total the same day a year ago. Atlantic port
Cle&rances of wheat and -four were moderate
equa,lng 5lS COO Blu. There was good ship
ping demand. New York reported export
sales of 2S boatoads. Bradsreets report Of
a decrease in the worlds visible of 5000 blu
was a surprise. as a moderate increase had
been expected. II had very little effect, how
ever as this IS the time Of year for dimin-
ishing sio ks and last years decrease AMOUNT
ed to 731 e0O bu. Toward the close the buying
became general again. and May advanced to
722sG72isc, and closed seller at I3Ac.
Notwithstanding the influence OF wheat the
bull leaders in corn were inclined TO sell at
any little advance. This made strong buy,
however. and any improvement was quickly
checked Receipts were heavy 9o3 cars ana
from the way wheat elevators ana olher re-
ceiving houses sold it appeared as II the
movement was not likely to become smaller
in the Immediate future May opened I'M
changed 10 hc higher at SSQ5oAc, ana de-
ciined to 3794c buyers, the closing price;
Oats participated in the advance IN wheat
early. but met heavy selling from the coun-
try. especially when the market was at any
figure over 2Sc for May. Cash business was
slow and receipts were large, 81 cars May
began 1eGAc higher, at 2o1spZsHc' ana &C.
clined 10 I5sc at the close.
Good shipping demand for meats and higher
prices for hogs at the yards strengthened
provisions. There was considerable nquloa-
ton by longs and packers, VINO SOLO 1reeiy'
while the buying was scattered and the early
Improvement was nearly all lost. May pork
opened 71AG121sc higher at SlO.4212Qtlo.4i12,
declined to s103712, rose to $lo.2112' then re-
acted TO 80 42A at the close. Inc range III
lard and ribs small.
Estimated receipts for wednesday coula hoe
be obtained.