The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-04-02
PLAYED FOR BREAK
THE WHEAT SITUATION At THE
START FAVORED THE BEAR
SIDE.
MAY OPTION UNDER SEVENTY.
THE LOWEST POINT FOR MONTHS
TOUCHED IN THE CHICAGO
WHEAT PIT.
SOME RECOVERY BEFORE CLOSE.
Final Prices Showed May Three
Ei2hthA Net Lower and July
Quarter Up.

CHICAGO, April May wheat closed at
a Joss Of &c and July at a gain of Ac. May
sold at one time below zoe for the first time
in months but the market recovered. Liquid
alton caused the early decline, and bad
Missouri crop report the subsequent recovery
Corn and oats were firm and advanced about
&c each. Provisions show very little change.
In wheat the situation at the start was
fully as favorable for the bears as was the
case yesterday, and, in consequence, trad
ers played for a further break. The Liver
pool market opened from steady at unchanged
prices to Ac higher, and, a little later,
showed a I'D decline, compared with yester-
days close. Minneapolis and Duluth receipts
were again very heavy for this time of year,
the number of cars reported being 587 COM
pared with 313 Thursday of last week, and
$50 for the corresponding day of the year
before. The light receiIAX last year were due
10 very severe snow storm. Stocks of wheat
in Liverpool warehouses were 48. 900 blu smaller
than March l, and of -four 5000 sacks larger.
A Beerbohm cablegram said stocks of wheat
in Russian ports March Is were 16 400 600 bu,
against IA 100000 blu at the similar time the
previous year. The opening price for May
varied in different parts of the pit from
705s to 7O1kc, and 1t touched 7OAc before 1t
made plunge to 69Ac. After hot fight,
during which it slipped and fell another &c.
3
best of it. Trade was only moderate and
while more long wheat was thrown over on
the decline there was more wanted at the
same time to cover shorts. The trade did
not improve to any extent, however, and no
fresh move was made until about II 80 o'clock,
when the Missouri state crop report figures
were received, and, showing as bad a con-
dition or worse than generally looked for,
the price jumped quickly to 7O5s07OAc The
for tat tod
at a. The acreage sown in the fall was said to
be the same as last years, but it was fur
Their stated that q per cent of it would be
plowed up. During the last hour the poor
export and milling demand caused a slight
decline in prices. May closing at 7O1zc.
Corn followed wheat only when that mar
ket turned upward. Although trading was
very dull, the price held steady, helped by
small receipts. wet weather and enormous
seaboard clearances, amounting today to
1,1S6,OO0 blu. Prices at no time showed more
than a sc nuctuation. May opened un-
changed at 243sc, sold between 244@24zac
and 25Q251sc, closed firm at 25c. In oats a
strong feeling and extremely dull trade
were reported. No features of interest devel-
oped, the strength displayed by the market
being almost wholly due to sympathy with
corn. Seaboard clearances were liberal, 200, 900
pu May opened unchanged at TIC, ad-
Fanced to 177sG1712c and was bringing that
price at the close Provision prices were
FATHER firm. and business showed some i'm
provement over yesterday, though still far
from being active. The opening was strong
on small hog receipts. After moderate reac-
ton prices frmed up the strength of the
coarse grain markets, the market closing
steady with but little change. May pork
closed unchanged at $s.5714; May lard 21ac
higher at $4.25; May ribs PFC higher at s4671a
G47o Estimates: Wheat, y cars; corn, IS
The leading futures ranged as follows: