The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-03-25

CHICAGO, March "a. - The moving
cause OF the strength of wheat today
after about Two hours depression was
TIE increasing number OF reports of
serious damage of winter wheat. Shorts
were forced to cover, and during the ex-
element May wheat rose 214c from the
bottom of the days range, and closed
at the top, with d net gain of 15sG11Ac.
Corn and oats pursued a similar course,
and advanced h@$Sc and sake respec-
lively. Pork improved 7lAc and lard and
ribs left off i shade higher.
There was an easy feeling in wheat at
the start, and May opened 4@bc lower
at 6Sl4GIac, and slid off to 6S1sc during
the first hours trading. There was no
fresh reasons for weakness at the time
OF opening. but bulls We're disheartened
at the apathy of traders in general, and
the Indifference with which reports Of
heavy damage to winter wheat was re-
ceiVed. The bulls considered the holding
of wheat under such circumstances like
loves labor lost. and let some drop into
the maWs of the bears who were short
and looking on the decline with which
the market started as the proper time
TO iced. The reports of winter-killed
wheat from the country were numerous
and fully corroborated previous advices
of a similar character. The action of the
market. however, during the early trad
ing clearly indicated Widespread be-
het that wheat was not nearly so serious
~ damaged had been claimed
Chicago received AZ cars. of which five
graded contract. Minneapolis and Du-
luth got 1872 against 80 the same day last
year, Atlantic port clearances for the
day were $4,000 bu Indications
were that the worlds shipments to
Europe would be about 6,50O,OO0 for the
week. St Louis bought wheat freely on
the break, and orders from outside gem
orally were to buy. During the last half
of the session reports from Kentucky
said that fall wheat fields were being
plowed up and general complaints from
the Southwest were of an almost sensa-
uonal character. claiming that damage
previously unsupported had revealed it
self This sort of news started local
shorts scrambling to cover Offerings
were found to he very scarce, however
and after vigorous climb after the last
hour of the session. May rested at 7Ossc
with the buying demand still unsatis-
teu.
Corn followed wheat, rallying sharply
at the close. Shorts and elevator peo-
pie We're heavy buyers on the way up
Claims from New York, of 100 boatlcads
being disposed of for export, exerted a
strengthening influence. Receipts were
Il cars and country offerings practically
nothing. May started &c lower at $3.50
&c, declined to 347sc, then advanced to
355sc sellers at the close.
Oats rallied with the other grains clos
Ing firm at the high point. Elevator peo-
pie and shorts bought and this helped
the advance. Receipts, 143 cars. May
began A@Ssc lower, at 261sc, sold SPAR
ingly at 261kc, then rose steadily to and
closed at 2e2sc.
A good demand for lard and buying by
onlrf two CT 9th al
sions May pork opened 21hc lower at
$685. and advanced to 1915 buyers at the
close. The range in lard and ribs was
very narrow.
Estimated receipts Saturday: Wheat, 40
cars; corn. 125; oats. $50, and hogs, $1,000
head.
The leading futures ranged as follows: