The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-01-28
WHEAT AGAIN HIGHER

CHICAGO, Jan. 27.-Nervousness, as indi-
Gated By rapid and frequent fluctuations,
characterized today's trading in wheat. Dur
ing the last half hour Of the session May
showed a gain fer the day Of l1Sc, but the
greater portion Of the adv ance was lost on
account Oh htaNy reallZing and May ciosed Ac
higher. Com leIt OH I. an advance OF 9sc
aLd cats unchanged. Pork and RIBS rose
&c each aud ara FAC.
" heat started QnGer much less excitement
than II closed yeS,el Gay, tut wan no lndlca-
ton that the LGn 1eeiins mad abated to any
considerable extent. May opened shade
higher at from iec down 10 IiAic, and wnhe
ts.de buying orders Wee being exc
cCUed improved to ,SlSQ1sSsc. After this de-
m0nd had been satsned, several local specu-
la.olS eVlnced an inclination TO sell, not oniy
parung with long wheat, that showed profit,
but trying the short side in an experimental
and conservative fashion. AS there seemed
10 be disposition on the part of traders with
Wall street connection to let matters settle
somewhat before taking on fresh holdings,
the market became heavy and May after
number of fluctuations between 7114Q7Sc, de-
clined to 1859. About this time, a cable
gram from Liverpool was received to the
effect that Argentina was Offering very slow
ly on account CT decreasing premium on gold,
and that Russia, for political and financial
reasons, was not selling much wheat
Some confidence in the Legitimacy Of the
bull speculative feeling impaired by the
latter information, and the decline
rested in consequence In addition to this,
buying orders from the outside of an urgent
ndluTe became numerous ana May began TO
climb again. Receipts here were 10 cars, of
which IA graded contract. Minneapolis and
Duluth got 4S6 carloads, compared with 1874
year ago, and the aggregate at Western pri
mary markets amounted TO 6l4,000 whereas
only 1854, COO bu was received for the same day
last year. Atlantic port exports of wheat and
flour were enormous, amounting to 592, 900 blu.
When the export figures were posted the
crowd made a wild scramble to buy, and
May, hestating around 7Skc, shot up to 79c.
That was a rise of 15ac for the day and the
temptation to secure profits became so strong
that many holders sold out and May sumped
off 20 17Sic During the last fifteen minutes
buying again became spirited and May rose
to 7Slsc, the closing price.
Geld weather and increased country offer
lngs started corn easy. Local traders disposed
of long lines. but the offerings were readily
absorbed by good commission house buying.
of heavy Wall street buying started the
crowd to cover and May rallied a cent from
the low point of the day. An excellent eX-
port demand also helping factor. Profit
moderate setback. Receipts were 557 cars.
May opened lEdAc lower at 3S1a@SS9sc, sold
snaringly at 3S12c. advanced quickly to 39lAc,
then reacted to e9Ac buyers at the close.
though it did not show as much gain as did
the leader. The speculative trade was slow,
and demand for cash was limited to car lots.
Receipts, 1S5 cars. May began shade lower
at 2Sas@2S94c. declined to 2S1zc improved to
29c. then weakened to 2s3.c, the closing price.
Provisions ruled strong and higher all
around. The volume of trade was large and
for the first time in several months important
packing interests were arrayed on the bull
side. Nav pork opened 5910c higher at
$l0621s610671A, declined to $10.55610.571h,
rose to 5000. and closed at S10.65 buyers. The
range in lard and ribs was small.
Estimated receipts for Saturday: Wheat. 100
cars; corn, 400 oats, 1856; hogs, COO head.
The leading futures ranged as follows: