The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-03-13
CORN HELPED WHEAT
STRENGTH OF THE MARKET WAS
NOT Unexpected, BIT SENT
SHORTS TO COVER
WHEAT GAINS THREE-EIGHTHS
Advance in Corn Prices Was One
and Seven-Eighths Cents
BuiIs Had 1t All Their
Own Way.
WHEAT GAINS THREE-EIGHTHs

CHICAGO. March p - SensationaIly
strong and active, the result not only of
particularly bulliSh statistics today, but
of a sort OF spontaneous realization Of the
security of the bull position based on the
Career or the market for months, corn
lent bull influence to the other markets
day; May wheat sc higher; May oats
zg+sc improved, and provisions from Zee
better for lard to 2212c up for pork
Corn took the lead of the speculative
markets at the beginning of the session,
as II did Saturday, and held ii through
out a sensational day. Interest in the
coarse cereal has not been 80 general in
years As II was today. Predictions were
made that the market would follow cot
ton and go wild within short time
baSIng The predictions on the chances of
untavorabe conditions during the plant
ing season.
The greater part of the session the pit
was struggling mass OF frantic men
none more frantic than the shorts who
were compelled 10 cover at heavy losses.
Fortunes were made and lost in that wild
scramble for the cereal which statistics
showed was getting rather scarce in
many sections. May opened 3sG1ac over
Saturday at S6ss f365sc.
The government report. which seemed
to be the main motive in the skyrocket
course of the market showed q, geo 00e bu
less In farmers hands, than there was
year agG The quantity on ocean passage
decreased 22lS, 900 bu. and is now down to
G0e bu. Visible increased a million
worlds shipments were small, and Liv-
ton furnished the stimulus for the initial
others.
The price till II o'clock did NOT vary
much from the opening figures. Then it
began to shoot up. Nothing could stop
IL apparently, and as the anxious shorts
bid higher and higher men in other pits
quit their work TO look on, ii not to par
ticipate. The demand seemed lfmitiess
although the advance carried the cash
article out of rine with the export bids
20 tFa =
closed l7sc over Saturday at 377s6SSc Re
ceipts were sos cars, and at primary
points T35.eO bu, against Gl5oe0 bu year
ago
The corn market began to move up
ward from 29l2c about four months It
huctuated narrowly for weeks, gaining a
Kit all the time, until ten days ago it
36(p361sc for May
The wheat market was dominated by
the corn strength. The statistics were
beariSh. There was a large increase in
worlds shipments and on passage and re-
eeipts were heavy. Gables We're steady,
making about the only Independent sup
port the market had throughout a Sos
sion when it was drowned OUT of the com
merciai orchestra by the noise in the
corn pit. The cash demand was checked
by the advance. and aItosether the trade
was not important, being merely d feeble
rejection of the corn market.
Primary receipts were 937 500 bu COM
pared with $4,000 last year. Minneapolis
and Duluth reported COZ cars. against 737
cars last week, and 557, COO bu a Year ago
Local receipts were So cars, one of con
tract grade. Atlantic port clearances in
wheat and flour were equal to 32S CSC bII
New York reported 10 loads taken for eX-
port May opened unchanged at 657x06ec
touched 604tc. and recovered TO G6l5c viii
corn. Closing $sc over Saturday at 66I56t
S62sc. 'O'4@
The trade in oats was not important
but the market was helped by the corn
strength Receipts were $50 cars. Nav
ranged from 23a4c TO 24c, and closed XGssc
higher at 24c. %
Provisions were strong and the trade
broad The commission business showed
liberal increase, and there was some
important covering Pork attracted spe-
ctai attention, as the contract stock does
not exceed 1000 bbls, with delivery daT
on May options only fifty DAYS AWAY
The hog market was firm but much Of
the strength of the market was derived
from corn. May pork ranged from $40 On
to SlllO and closed 2211c improved from
Saturday at $l1 10; May lard from Sc to
$6.05d6.071e. closing 715c up at s605 and
May ribs from $5.9719 to $605. with The
close Toe better al $6.02151G. o.
Estimates tomorrow: Wheat e3 cars
head. 0''0''
The leading futures ranged as follows:
Open High Low-l Clos
" ing. est. est. ing
rHhaaf