The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-01-12

CHICAGO, Jan. u.-Heavy huyins orders
TO day brought aboGt by enormous clearances
at the seaboSrd caused a sharp rally in wheat
May closed 1.c higher. Corn rose 3sc aid
cats h3$c. Provisions consistently
firm all day, ana closed 22l2c up for po k lee
each fer lard and RIBS
Reports of liberal offerings OF wheat from
Argentina and Russia, together with easier
cables from LIVERPOOL gave the market here
at weak tone at the outset. Domestic re-
ceiTts were light compared with their volume
month ago. but when set against recap S a.
the corr spending time last year, they were,
from tie point Of view of the bulls still dis
couragineiy heavy. Under those influences
May opsned "a Sc lowe. a from 7014 down
TO 70lsc, and in less than half an hour it
could be bought at 692.c. That under
put price and there lose a good demand from
holders OF those privileges, who were dis
posed to take prohts. Germ about this time
beS3n 10 SOW iecuperative strength after
earlier weakness and the buying Of wheat
became sufficiently urgent TO cause s. quick
rscoVe-y cf Nay u 70kc.
Receipts her amounted to 166 cars, of
which II graded contract. Minneapolis and
Duluth reported receipts Of 459 cars, agains.
S67 year ago. The receipts at the principal
Western primary markets aggregated 707 900
Blu. compared with only 42l 600 Blu the same
day last year This featu.e OF the crop move-
ment acted as weighty argument in favor
OF the bears during the forenoon. ard halped
10 check buying on any extensive scale.
Another bearish influence during the early
trading was the complaint Of shippers of the
lack Of bids. and the few received they
claimed to be hopclessly unavoidable. When
the clealances from the Atlantic seaports for
the day were placed at 1904 600 Blu, 1t COM
pletely III ned the tables the early short
sellers; aud caused rapid advance from
around I0kc for May to 707sc, the latter
point being reached about twenty minutes
before the end Of the session New York re-
ported a good inquiry for wheat from the
contne3t and claimed 80 boat loads had
be- disposed ef
The rise in2ugurated by the heavy export
clearancts continued 10 the end May selling
as high as llG11sc. and closed at Tic buyers.
Large receipts, lower cables and the decline
In wheat weakened corn early. May opened
1saAc lower and eased eff to 36kc during
the first half hour. AT the end OF that time
buyers commenced TO show themselves in con-
siderable numbers and May was bid up to
SIZE. Predictions of unsettled weather and
clearanceS of nearly 100000 blu were
responsible for the sharp upturn scarcity
OF cars for shipping purposes has hampered
the trade fer some time. but this drawback
had entirely disappeared today, ard the ship
ments were Oh large scale The market
continued strong after the first early Dip and
closed at the top price of the day. Receipts,
COZ cars.
offerings strengthened oats. There was
gocd demand and oats ruled the firmest grain
on the 81. The sharp advance in corn near
the END was reflected in oats and the market
May opened shade lower at 27asc, sold spar
ing price.
Small hog receipts and an excellent export
demand strengthened provisions Orders
from the outside were numerous Oh the buy-
ing side and commission houses were also
taking on long lines. This aggressive buvins
resulted in a sharp advance in prices ali
around arc and the market left off strong at the
1Gp price for the day. May pork opened 90
nc higher, at $lOo5Q1O1O; decliled to SO,
then advanced to s1022h the closing price.
May lard began 2lsc better. at $5.725a, scld
at $S-'Vq3. 72l2c, then rallied to $3.50 and
closed. May started 21a@5c up at s5.C7Ib
weakened to $5.07l2 then improved to s5.i2b,
the closing price ny
estimated receipts Thursday: Wheat 1872
cars; corn; go; cats, 154; hogs, IS. 600 head.
Ine leading futures ranged as follows: