The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-03-15

CHICAGO, March 14.-An unexpected
small increase in the worlds stock OF
wheat today, together with substantlaten
claims of crop damage, caused a recovery
of / cent from the low point in wheat,
and May closed with a net gain OF asd 12c.
Corn left off sc higher. and oats UNI
changed. Lard closed without change,
end pork and ribs advanced 2i2GD5c each.
Complete indifference at Liverpool to
the rally here yesterday and large re-
ceipts in the Northwest were the items OF
information under the influence of which
wheat opened 69i4G69S5c. Half an inch OF
rain was shown to have fallen in North
ern California during the last twenty
four hours. and kilograms from San
Francisco report ed indications of general
rains for the state. These started SELL
ing by commission houses, and the price
got down to Ga1sc before it gave any in
dication of Improvement. Crop damage
soon became the burden of the news that
came to hand and the price began grad
ually to recover the loss ii started with.
The damage reports came from wide
area, and to almost every commission
house in the trade. and in several in
stances supported by people on the floor
who had come in from a personal inspec-
ton of the wheat fields. Minneapolis and
Duluth receipts, 6S7 cars, compared with
2S2 a year aSO. Chicago got 101 carloads.
of which three graded contract. Primary
Western market receipts were 635, 900
bushels, against 367 900 bushels last year.
The Atlantic port clearances of wheat
and flour amounted to 5S1, 900 bushels. Re
ports were current that freight room had
been engaged at Boston for shipment OF
100000 bushels of wheat, and, while that
was said to have d weakening effect upon
Liverpool, 1t helped to stiffen the mar
ket here. 1t had been expected that
Bradstreet's would make an increase in
worlds stock for the week of about 2,000-
GOO bushels, and consequently when the
report was issued, showing a total in
crease of but 317,000, the disappointment
of the bears was shown in increased buy
ing in of shorts. The market became
quite strong, more especially for July,
the superior demand for which narrow
ed its discount under May and reflected
an increasing belief in crop damage. I'm
der this buying May advanced to 701aG0
7O3Sc; July, 693s@Ac, and closed respec-
lively at 70ssc and $3.50.
Corn met with general selling by COM
mission houses at the opening, and in
ftial transactions showed a sharp loss
The crowd, however, was short and on
the decline a good deal of covering took
place, while there was influential buy
Ing in July. As the session advanced. the
market became strong, and the early loss
WIS more imam recovered. Receipts, sos
cars. May opened asq15c lower at 34a4c,
and advanced to 35Ac sellers at the close.
There was quite a good deal of short
selling In the oats market, and this kept
the price from advancing to any extent.
The buying was scattered, with the TAX
ing off of hedges by parties who have
sold cash an important factor. Receipts
RSS cars May opened Nc lower at 26ffic.
Sose to 261@QSsc, and closed at 26bc.
There was some selling out of long pork
early IN the session, but that appeared
10 have drained all there was likely to
come. and provisions ruled steady there
after. Shipments of meats were lar.,,
May pork opened PFC up at $9121b. rose
TO $@lf32@92O, and closed at $9171b. The
range in lard and ribs was small.
Estimates for Wednesday: Wheat. 40
cars corn, 100; oats, 100; hogs, 81, 900 head
me Ieadlng futures ranged as follows: