The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-01-26
SHARP BULGE N PRICES
MAY WHEAT AT THE CLOSE WAS
NEARLY TWO CENTS
HIGHER
CORN AND OATS BENEFITED
Discoura cling Reports as to the Ar
gentine Crop Il Prime Factor
Provisions Also
Went Up.
CORN AND OATS BENEFITED

CHICAGO, Jan. 25.-News affecting the
- wheat market was all buliish today, and
the market ruled strong, May closing 15s
91%C over yesterday Other markets
benefited by this strength, corn closing
l13c higher.
May wheat opened 14D15c higher at 751kc
TO to94c ana sold early at 1876 on a rather
quiet market Higher cables, light Ar
gentlne shipments, moderate Northwest
receipts and a report that wheat in the
condition, were the factors. Moderate
amounts were sold on the bluge, and
a reaction to 7512Q753sc took place. Later
foreigners were reported buyers; outside
markets were strong, both for futures
and spot, and primary receipts showed
q decided falling off. There was good
buying by commission houses, and prom
1nent professional bulls. This buying
spread regret among the bears, for the
early sales and the buying pressure
caused tally to 1850 shortly after noon
Acting On the theory that il is time TO
sell when the market touched 7Sc, some
bears asserted themselves and forced May
back to Go1sc. There offerings were so
quickly taken and more asked for, how
ever, that near the end OF the session
sharp advance from this price to TIC
took place, and the close was strong,
May 19sGglAC higher at 767s9077c. Local
receipts were 40 cars, of contract grade.
Minneapolis and Duluth reported 203 cars
against go last week, and 30 year ago.
Urinary receipts were $4,000 bu, COM
pared with $4,000 bu last year. New
York reported 70 loads taken TOR export.
SeabOard clearanceS in wheat and Hour
We're equal to AT, 900 blu. Argentine Ship
ments were 1856 bu, against $4,000 bu
the previous week and 100000 bu a year
ago. 1t was reported that Uruguay would
not raise enough wheat for nome con-
sumption, and that other LaPlara prov
1nceS would show a folling off of 50 Per
cent in exports compared with last year.
Corn VAS only moderately active. There
was only a fair shipping demand. Local
bulls showed q desire to keep the price
on what they call new ground" and In
this they were assisted most by the
wheat strength, although light country
offerings and light receipts. We're factors.
May sold between $3.50 and 3915c, and
closed IS over yesterday at 3912c. On
the bulge was heavier than 1t had been
before, but it was well met. Receipts
were IS cars.
Oats were fairly active an strong in
sympathy with wheat. Reports that
large shipping business was done yes
terday also helped prices. May sold be-
tween 253SQ254c and 254sq2512c. and closed
54c higher at 293SQ201ac. Receipts were
10y cars.
Provisions were moderately active The
opening was heavy, but a good cash de-
mand later pulled prices out of tine hole
and caused an advance. May pork sold
between $l3.Ti@ and $13. 50, and closed
1215c higher at SIS. 921a; May lard between
1915 and $I.4215, closing sc up at 81. 4215,
and May ribs between Sc. 9212 and 81, with
the close a shade higher at ST.
Estimated receipts Cor tomorrow are:
heat, 80 cars; corn, 325 cars; oats, 40
cars; hogs, 1900 head.
The leaUing futures ranged as follows: