The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-01-06
WHEAT PRICES WENT Up
MAY AT THE CLOSE Had GAINED
A CENT AND THREE
QUARTERS
CORN AND OATS FOLLOWED
Provisions Also Shared in the Cen
craI Prosperity, With No
tably Sharp Bulge in
May Pork.
CORN AND OATS FOLLOWED

CHICAGO, Jan. 5.-The course of
wheat today was ruled by sentiment,
May closing 1aic oyer Yesterday. Corn
closed Ac and cats CSC higher. May pork
closed Csc, May lard 171ac and May ribs
zoe improved.
At the beginning and at the end of the
session in the wheat pit bullishness of Il
decidedly strenuous order made the
market an exciting one, while the period
between these extremes was marked by
a nervousness amounting TO speculative
ague. The market was almost entirely
creation of sentiment based on the stock
activity and rumors of Wall street in
terest in the local grade market. But at
that, with the news legitimately influ-
entail in determining prices eliminated,
May wheat doomed to the top price of
the present May wheat opened to 1Ac
higher at 7S19c to 1SAc under heavy buy
ing pressure. An enormous business
was transacted the first ten minutes, the
long scattering to the hungry mouths
opened to them with such liberality that
the price of May dropped back to 1870.
Trade became more quiet, by fever1shly
nervous for the next hour. May rallied
to 7S:&c, but dropped back again, offer
ings were light and the price was grad
ually worked up again to 79e. At this
mark more prOfit-taking, together with
some short-selling was attempted.
more buying orders The readiness with
which offerings disappeared into the
square alarmed the short interest and
sharp burst of activity May jumped to
A reaction to 791sc followeGe this bulge,
but the market was aggressiVely strong
and the close was 1B@17sc higher, at 1914
@79ssc. Cash bids were out of line with
the advance and no business was ac-
complished. Seaboard clearances in
wheat and flour were equal to $500 bu.
Primary receipts aggregated 100000 bu
compared with $4,000 bu last year. Min
neapolis and Duluth reported 80 cars,
against 191 last week and $50 g, year ago.
tract grade Liverpool did not respond
to the advance here yesterday 1t was
predicted that worlds shipments Won
aggregate 100000 blu, about 100000 bu
under the previous week: 49,
Corn contracted bull fever and the the
market shown Independent strength
based on the continued light receipts and
poor grading despite the perfection OF
the weather for moving the crop Inc
closing was strong. May sold between
S>13c. Receipts were 327 cars, none OF
which graded contract.
A big cash business according to re-
pert and the receipts. 22l cars. as well
help oats. May solo. between 2449@9g2244sc
and 25Ac and closed sc higher at 25ssc..
Strength in pork was the feature in
provisions, although lard and ribs were
also firm. An influential local, operator
bought lard ana ribs literally, while
commission houses took pork. The
wheat strength, moderate hog. receipts
and a good cash demand We're factors In
the advance. May pork sold between
$l3S21a and $3.50 and closed Csc higher. at
closing 171ac up at 1922, and May ribs
between Sc. S21ad7.05, with the close zoe
improved, at S7.O5.
Estimated receipts Monday are:
Wheat l1S c a 6oo corn a SSz cars oats' z0O
7 eadiner futures ranged as follows: