The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-01-24
MAY WHEAT HIGHER

CHICAGO, Jan. 2S.-Wheat spectators af-
fected by the excitement in Wall street today,
ignored all bearsh news and under the vigOr
Gus buying that prevailed May wheat closed
at On advance Of 1Ac. Corn was aided oy
the same' indefinite, but powerfully effective,
sPecu ative sentiment and advanced lc. oats
benefited to the extent of Sc and provisions
gained l212c on pork, TIC in lard and &c in
ribs
Higher cables from Liverpool and nervous
ness on the part of shorts started wheat
firm. May opened AQasc higher at 7iW7l1sc
next feW minute ,e Wall street street securities
were as active as ever and showed the same
remarkable tendency to advance that has
been the wonder of onlcokers for three weeks
back. The wheat SPECTATORS here could not
he-p being influenced bullishly by such IN
exhibition of uneXplsinable strength, and
the g'ession advanced the market became very
strong
Worlds shipments of wheat to Europe las,
week amounted to 6,4O60 900 bu. and all but
visible supply increased 33S, 900 bu compared
with 6s5(00 bu decrease the corresponding
week last year. AS all increase OF ,90J, 600 bu
had been expected the bulls became more
active than ever, and a little more Was add
ed 10 the price, May advancing to 71ssc. The
se3board c-earances of wheat and -four at the
Atlantic seaboard amounted to 1888 900 bu.
Chicago receipts were 139 cars. of which IA
graded contract. Minneapolis and Duluth re-
celNed S4S carloads, compared with 7SS week
ago, and 425 for the same day last year
Primary Western market receipts were 396-
600 bu, whereas on the corresponding day q
year ago $4,000 bu was all that came to hand.
During the afternoon the indications we're
very apparent that Eastern operators with
stock market profits were buyers of wheat
here and local shorts made their peace with
the market and went long. On this renewed
demand May advanced to 71Ac. On the bulge
there was heavy selling by commission houses,
but when the offerings were finally absorbed
without any setback to the price. May took
jump to f2Q72lsc. The market was strong.
er IN the last hat hour than any time in
month snd May closed at re, buyers.
An increase in speculation and decidedly
frmer undertcne developments in corn
which were attributed directly to the rapid
pace of the New York stock market. The
visible increase of 1893 GOO bu The increase
in stocks here were ], 2SS 0G0 Blu for last week
The great strength of wheat near the cloae
caused an access Of energy to be displayed
in the buying of corn and the close was st
the top for the day. May opened k@DAc high
er at 31lsq3I4c, and improved to 3Sc clos
ing figure.
Oats shared in the general bu:lish feeling
that prevailed on the floor. Trade was Of
a fair volume and pretty wei scattered, al
though buying by shippers was conspicuou.
enough to be feature Receipts were III
cars. May opened 1s@Ac higher at 27N a
2f&e and advanced to CSC, the closing price.
The strength In grains and influential buy
ing developed a strong undertone in pro-
visions. There was q little realizing early
but the offerings were readily absorbed End
the session ended with an advance all around
Estimates of stocks for the month show an
increase of 15.O0OOO0 lbs In ribs 80 900 tierces
in lard and 1900 bbls pork May pork open
TO M0S5, the closing figure. May lard be-
gan unchanged at s5.S214, sold at S.. SO6l5. s2ls
advanced to 1921 and Closed at $3.50 May
ribs started unchanged at So 1212 sold at S. 10
q?l212 then improved to $5.171A. the closing
price.
Estimated receipts for Tuesday: Wheat 10
600 head.
The leading futures ranged as follows: