The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-02-17
MAY WHEAT ADVANCED

CHICAGO, Feb. 16-Reports Of serious IN
jury to wheat in California from drought to-
day together with rumors of rioting in PARIS,
strengthened prices in wheat. After an early
decline of %@94c May wheat closed at an ad-
vance of 9s@lhc corn left off unchanged, and
oats 1s@4c lower. Pork lost lOc, laru I12Woc
and ribs &C.
Milder weather and the Price Currents
statement that apparently but little II any
damage to the winter plant had resulted from
the recent low temperatures. gave wheat
weak start. May opened 1sc lower, at iz9sW
72&c, and generous offerings in the way
of liquidation of long property brought more
wheat on the market than could De apsoroe9
without making concessions the price Slipped
of to 72Isc during the first half hours trad
Ing.
ton was rather favorable TO the bears. Chi
cago receipts were SO cars, compared with 62
a year ago and Minneapolis and Duluth got
go carloads, against 250 the corresponding
day last ysar Western primary market re-
ceipts aggregated o44 600 bu. whereas only
33l 0e0 blu were received a year ago. Exports
from Atlantic seaports, including wheat a no
-four were small, amounting to only 264 oo0
bu. The decline to 12lsc was the end OF the
bears rope for the day
New York did not respond fully to the weak
ness here, and there were rumors OF
Il distinctly bullish character that completely
changed tie complexion of the market. Riot
ing in Paris given as the reason Tor the
break in the price OF cotton. and had also a
bullish effect in wheat. The news. however,
that had most do with the advance that
set in about an hour from the commence.
ment came from San Francisco. 1t was SAID
In Il message rec ived from there that owing
to continued dry weather. the condition OF
wheat was critical, and prices had advanced
today from lie 10 1lsc in consequence. The
recovery here was quit gradual for time,
but the market gained in strength as the
session progressed. and near the end May
brought 1850, while 73Ac buyers was the
closing pric5.
Corn met with free selling for the short ac-
count and until May, which opened lsc lower,
at 1855 G3634c had gotten under 3612c the mar
kst received very little support. At $3.50.
howevsr. which was the low point CT the ses-
sion, commission houses with Eastern con-
nectionS became good buyers and steadler
feeling developed The shipping demand was
at a standstiI. Receipts were 46l cars. After
the early dip the market held steady to the
end and May advanced to and closed at $500
1850.
There was a large business done in oats
and outside ord rs were plentiful. The mar
ket was weak early on heavy selling by an
elevator concern who reinstating hedges
taken off a short time ago. Liberal buying
by shippers latr in the day. however.
caused a reaction and the market remained
strong during the remainder of the session.
Receipts were 800 ears. May opened I'M
proved to Sis@2SAc, the closing figure.
Provisions opened steady. but soon began
TO give way to the influence of heavy receipts
Of hogs and selling of pork and ribs by pack
ers. May pork opened shade lower, at
$40 G2Is declined to $3.50 then frmed up to
50. 92l2G995 at the close May lard began un-
changed. at $5.6215@5.65: sold off to $5.5719,
and closed at $500 May ribs sa.rted 2iac
lower at So: weakened to &.62 ", then I'M
proved to S4.97l9 sellers, the closing price.
oats. $50; hogs. 100000
The leading futures ranged as follows: