The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-02-12
HEAVY BUSINESS IN CORN AT
HIGHER PRICES WAS THE
FEATURE
GAINED A NOTCH, TOO
Cats Followed the Procession, and
Provisions Were AIxro Firm,
Closing Unchanged to
zoe Advanced.

CHICAGO, Feb. u.-strength in corn
eXerting its influence in an over-sold
wheat market was chiefly responsible for
Il sharp advance in the latter today, May
wheat closing sc higher Nearly all the
corn news was bullish and the market
closed 1zM95c over Saturday. Oats adj
-xanced 1sc in sympathy, while provisions
showed q firm finish, unchanged to 1Gc
higher.
Saturdays strenuous and confident
bears, re: wing on calculations Of beariSh
statistics with which to begin a new and
profitable week were today driven to
cover. The statistical reports fOrecasted
SATURDAY proved accurate, but shorts, in
stead Of finding a yielding market on
which to secure profits were confronted
by very stiff market with the opening
price of the May option unchanged at
743S034c. The market had been sold TO
a StandStiil and the rush to cover ap-
preached Il stampede which, despite more
liberal offerings from longs on the rise,
carried MAY to 1880 during the first hour.
The chief factor in overcoming the bear
iShneSs of the statistics was the strength
early developed in the corn market, the
reported reduction of Argentine's export
able surplus, stead1ness in the lAverpoJI
market ana the moderation of Northwest
receipts were contributoTy aids. Heavy
cleararces and y decrease Of the visible
We're influential additions to the days
bCllish considerations which resulted in u
further advance during the afternoon to
75%c. This bulge near the end Of the SeS-
sion invited realizing by longs under
the close vas strong, May 2sc higher at
T5lz6E5sc. July wheat was for sale in lib
eral quantities at 11sc under May. Sea
board cle2r2nCeS in wheat and Hour were
equal 10 1912. coo bushels since Saturday.
Primary receipts aggregated $4,000 bush
els. MINNEAPOLIS and Duluth reported
CPS cars, against 924 last year: Local re-
ceipts were Al cars. three Of contract
grade. The visible showed a decrease of
1,2T3GCG bushels. Worlds shipments, ac-
cording TO board of trade figures, were
YnN I,A1- nj
passage in2rea ed 3,014.0A0 bushels.
Corn was active and strong from start
to finish. Speculative interest was keen.
the volume Of business heavy, and
prices were above previous high records
for the Gre ID. Small receipts. unfaVOrable
weather for movingF the crop to mar
ket. the continued poor grading of fresh
arrivals, and sustained hieh prices OF
hogs, together with light country accept
ances and the excellent cash demand,
formed the basis Of the markets strength.
The opening was &c higher fer May at
3G14 @39sEc, with commission houses active
ly engaged on both sides of the market.
Bull leaders were conspicuous and ShortS
covered heavily. Minneapolis reported an
active demand for corn in the north, while
the seaboard was an influential purchaser
here. There was considerable changing
from May TO July at &c difference. The
combined buying pressure forced May
sharply to 39$ic during the forenoon, st
this price the market closed, 1%GD2sc i'm
proved from Saturday. Local receipts
were 272 cars. Exporters reported 10
loads taken.
There was little business transacted in
oats, but the undertone ~ u ga
was firm, in sympathy with wheat ana
corn ard on the gCod cash demand. Re
ceipts We're 81 cars. May sold between
253z0253sc and closed sc higher at 259sc
Provisions We're moderately active,
while prices were sustained by the re-
f1ected strength of the grain and hog
markets The cash demand was good.
but the pit trade was without especial
feature. May pork sold between $149}5
671AC21a. and closed 10c higher at S14.GSs5 !;
May lard between $7.5212 and $7.5537.57115a
closing unchanged at $685.. and May
ribs between S7.0T1aG710. with the close
DC UP at $40.
Estimated receipts for tomorrow are
Wheat, 50 cars; corn, $50 cars; oats. $40
cars; hogs. $1,000 head
The leading futures ranged as follows: