The Saint Paul globe., 1899-03-27

The above figures show conclusively
that the bulls found themselves In the as
cendancy at the close of last week. There
was vague idea that the course of the
improvement in May wheat was due to
Verifcation of the persistent reports of
the damage done winter wheat by the
unSeaSonab BILE cold weather, and yet there
exists lingering doubt as to the RELIABLE
ity of the proof upon which the advance
was based.
Thursday there was bearish tendency
displayed in May, especially at Cihacago,
but the slump was not maintained and
the option took another up-turn Friday
and increased its lead Saturday. This led
to the circulation of a runner to the effect
that the bull element had quietly dis
counted government figures and con-
flicting reports as to the effect of the cold
weather on future yield by sending Sc
cret emissaries through the wheat belt
for the purpose of getting at actual exist
ing conditions. The report must have
been favorable. for a majority of the
heaviest dealers at once began to buy,
and up went prices
FOREIGN INFLUENCES.
The Liverpool situation was not such
as to give encouragement to the bull ele-
ment. though prices there were fairly
well maintained. Reports of Russian
needs. present and future however were
q decidedly bullish factor in the market,
and did much toward the close of the
week to strengthen prices. Reports
came from Russia that indicated a large
ly increased call for wheat in the near fu
ture, and this factor undoubted played
an important part In the market. Ex-
ports have been fairly heavy but not so
large as to have caused the advance that
was recorded in May in the closing days
of the past week. 1t is therefore proba-
BILE that dealers take more stock in wealth
er damage stories than in the foreign de-
mand, present or future. Upon this
thesis the future of the May option will
probably largely be based. Should 1t be
shown that weather effect upon the win
ter article has been exaggerated, present
prices cannot be maintained. On the other
hand, if the bulls are in possession of
definite information on that point is
claimed, further advances can confidently
be looked for.
CORN IS FIRMER.
Corn followed wheat rather closely
during the week, although the influences
that have affected the latter were not ac-
counted as bearing upon the former. The
prime factor in the advance in corn prices
Seems to have been an increased export
demand. Not shorts alone, but elevator
people, were arrayed upon the side of
activity in corn dealings that was shown
in wheat, and yet, while prices We're as
rule lower at the opening sessions of the
week In Chicago, strength seemed to
come to corn with each improvement in
wheat prices, and the grain shows a sub
stantial gain for the week.
The claim that corn in store lacks the
keeping quality that is so essen
tial to strong market is be-
ing vigorously denied by those who
are willing to purchase at the advanced
prices, and to this fact is perhaps due at
least a portion of the improvement that
is shown in corn. Dealings were not
heavy, but there has been steady de-
mand and an encouraging outgo of the
grain at export points.
OATS IN SYMPATHY.
Oats also closed the week at better
prices. There was absolutely no furry
but a steady fractional advance that is
attributed solely to the strength display
ed In wheat and corn. Elevator people
were the principal buyers of oats, though
the up turn in prices naturally drove
shorts to cover.
The outlook for the grain market at
the beginning of the new week Is bullish
Sensational reports from Kansas, that the
wheat crop in that state would not aver
age SO per cent were the latest sensation
OF the Saturday session of the Chicago
board Of trade. 1t had immediate effect
and buying was heavy at the close
STOCKS WERE STRONGER.
The stock market has more than held
Its own the past week. While there has
peen no Hurry such as was recorded in
sugar the previous week features have
all been favorable to the bull element
This applies to the railways as well as