The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-01-19
WHEATCIOSED HIGHER

CHICAGO Ian. 1S-A transformation ri
sentiment in the wheat pit today found sew
eral traders oversoid. and In their eagerhsss
to get back previous holdings the early loss
was obitersted May Closing 1ac higher Corn
and oats advanced ls@Ae each FORK rose
TIsc lard Eye and rigs 2t2c.
Several commit sion people who had selling
orders OF & pressing character executed tneli
together with lower cables from Liverpool
and the Continent. gave wheat weak send-
OF May opened A@%se lower at iV,sc; ous
there was a great deal OF wheat wanted ana
the market became firm, with slightly up
ward tendency during the first hour Re
GENTS here and in the Northwest were SUI
fciently moderate to favor the bulls, rather
than the bears. and early indications were
for a heavy total OF seaboard clearances or
wheat and -four. Yesterdays revelation OF
the increase in Russian shipments was SILL
in the minds CT the traders, however, which
prevented any enthusiastic buying and the
market ruled rather dull, with May hanging
around 702sc.
Receipts here were 1874 cars of which IA
graded contract Minneapolis aud Duluth re-
ceived All cars. compared with 400 for the
same day last week and 3So for the CORE
spending day a year ago. Primary Western
market receipts amounted to 6s9,oOo bu.
against $4,000 bu last year. but this was on
set by the heavy Atlantic port clearances or
wheat and -four, which were reported at So1-
000 New York Claimed As boatoads sold
for export, but The general report from the
seabCard is to the effect that reply from
the other side could be obtained to their Of
fers. A dispatch from the Northwest. giving
the opinion of well known authority Cn
wheat situation, had a bu-hsh sntsrprelatl2n
here, as it reported the amount OF wheat
remaining in farmers hands in Minnesota ana
the Dakotas ST on-y % per cent OF the crop,
or about so OGo, eco bu. Bradstreet's state
ment of the worlds visible made it 1922 900
bu more than it was a week ago, compared
with a reduction OF .95l, 900 Blu the similar
week Of last year.
After temporary decline from around
701kc to which May had slowly climbed, the
short-lived weakness being induced by Brad
streets, the market became comparatively
strong, May reaching 10a4c about twenty min
utes from the c,ose. At that demand
sprang up from traders who had calls sold.
and May rose 70 l01sc.
Corn was weak at the decline but hrm-
ness developing in wheat helped corn to
maintain itcelf against weakness. Receipts
were comparatively small, but the aggregate
of Western primary market receipts was
about double that for the corresponding day
year ago. May opened tritie lower at
362sGS624c and sold at about the same time
TO $3.50, then sasged TO S614c, but little could
be bought at that. and it rose steadily ana
closed steady at $3.50 bid.
Heavy selling by prominent elevator con-
Germ weakened oats early After this lot was
disposed OF offerings became light, and as
the other markets became stronger the de-
mand improved, resulting in sharp advance,
The country was bui!ish and backed their
opinion by buying quite freely In small lets.
Receipts, l75 cars May opened shade low
er at 27hI27%sc, declined TO LlSc, advanced
Higher prices for hogs and heavy ship
nen;s of meats started provisions strong.
There was a lot of selling early, however, and
as the demand was scattered, prices eased
off As soon as the grain market began to
show signs of strength this was all changed,
and the buying became animated, resulting
215c higher at S10.071a declined TO $40, then
recovered to Sob and closed al si0.12l4. The
range in lard and ribs was narrow
Estimated receipts Thursday: Wheat. 200
cars; corn, $50 ears; oats, 1S0 cars; hogs, 3d.
600 head.
The leading futures ranged as follows: