The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-01-17
MAY WHEAT ADVANCED

CHICAGO, Jan. 16-Both sides found en-
enlargement in tcday's whe news, but the
bulls finally gained control OF the market,
and. after many Weiss tudes, May closed at
9sQAc advance. Germ left off sQAc Ign
er, and oats are unchanged Pork and tits
gained 2i@c and lard sc.
heavy shrinkage in the output from
Russian and DanuSian ports for last week
started wheat strong. May opened AQSc
higher at 7lasQ7l1Ac, and met with such heavy
covering. by shorts. together with buying
for the long account. that in a few mi6u.es
the price reached Use. The next mat er
to receive attention was the prospect OF an
increase in the visible, indications OF which
began to appear as the result CT Stock lax
ing at the var ,us centers WIS made known
] looked at one time as il the increase wJuid
amount TO 1,C20,0oO bu, and ON that propapi-
ity May gradually settled down to fOsc. AS
the increase proved to be but Sfl,e0o shaoe
If confidence again commenced to oiiuse
itself throughout the pit, and May was tlo
up to 7lSsGn19c. Chicago received ~ cars,
CT which IA graded contract. Mime
apo is and Duluth receipts were IS2 cars,
against $50 the corresponding DAY or last
year The quantity aloat for Europe was
reduced 1.G40.0a0 bu since LIST Monday. Ar
gentine advices were Of an eXpor,aDie sur
plus OF s. 000. GOO blu CT wheat of good qual.
ity, and, as the aggregate of receipts OF
wheat d, Western primary markets amounted
to of ,0C0 blu. against 522,GG0 a year ago, tne
bears had inning, and May was fore.d
ard immediately started buying by holdsTs OF
those privileges, ard, with the heip OF a lew
outside buying orders, May SFauu,tiLy WI ~,
up 10 Ike, with many changes bstweeh &c
sellers ard ulsc bid.
The cash demand here vas SLOW ana TIE
Atlantic port clearances OF wheat ana houI
were nlaced at 47S eco tu. Liverpool ana
the continental markets clos d str1ng in the
face uf an increase in the Engnsh Vls-oie
supply OF 1870 o0 bu. Towards the eno
longs showed a desire to increase their nod
incs and as shorts were anx Gus to oblt-
crate their record May was bid up TO iIAV
S19sc. and remsdned at that figure until the
c,ose
be'ow estimates started Germ firm. The ad-
vance however. met with heavy selllns by
prominent shipping concern, ana the market
soon turned weak. Local stocks showed an
Increase of 934 eco bu for the week, snd Inc
visible supply increased 2.427.000 bu. he
CENTS were 95S cars. Scattered buying grad
uaIly developed a steady teeln g, ana IN the
last fifteen minutes the market became very very
near the start My opened &c hisner at
SIC. declined to 367sc, and, after being at
SIC sellers most of the day it su1oeniy sio'
up TO S714c and closed at S1sQ3fAc
Oats started firm with the other grains
Prices eased off for while on heavy sell
ing but when the offerings were h1aliy %
sorbed. the market turned strong and closed
near the top for the day. May opened 1sc
higher at 2T7s@2Sc declined to 27asc, then
frmed up to 27as G277sc, the c'osing, price
Provisions opened strong, but there was
cons: derably more for sale than appeared 10
he wanted for a while, and prices declined to
trife below Saturdays level. Near the
end of the session the publication OF last
weeks shipments OF meats were 50 heany
as to induce enough buying to cause rally
all around. May pork opened DC hlgh n r., az
SO so, rose to SIC 221a, declined to slo.9rA
then recovered to $l0.l711 at the close Tne
rgnee In lard and ribs was small.
Estimated receipts for Tuesday: Wheat,
1870 cars: corn, 200 cars; oats, 800 cars; hogs
So 900 head.