The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-03-22

CHICAGO. March 21.-With the exception
of May the closing prices of wheat today.
compared with saturdays closn, showed very
little change July closed lsc lower all
advance caused by fears of frost in the winter
frost in the winter wheat region beinA(o
wheat region being lost under late realizing.
Letter buyer of May and that future
strong, closing l&c higher Corn was
firm most OF The time. but closed &c lower,
dull. but the tendency was toward an i'm
recorded.
Wheat opened with a continuation Of the
weakness which marked the closing on Satur-
day. July starting about &c lower at 341a
S4ssc. Perhaps the chief element of weak
ness lay In the large receipts here and in
the Northwest. Chicago receipts, estimates of
which weakened the market Saturday, far
Overran expectations, 800 cars be ng reported,
Of which number 81 were OF contract grade.
Besides this, c. came from the mixing
houses, a total addition to the contract St ok
today of about $4,000 bu. Minneapolis and
Duluth reported arrivals of 473 cars, against
444 last week, and 1874 a year ago.
Liverpool showed SD d cline at around the
opening. Worlds shipments were large, G.
$4,000 blu, not including India. This was an
important factor in the early weakness.
Liquidation, which started at the opening.
soon stopped. The weather bureau reported
freezing temperature in the Northwest and
predicted cold weather for the West which
In view of the recent rains and the totally
unprotected fields, aroused a good deal of ap-
prehension among S orts, and soon turned the
market from weakness to strength. Inside
of the first thirty minutes trading July had
advanced to S5I.c. urder fairly active buying
20 cover short lnSs. reaction then set
IN, which carried the price back, but sup
port by prominent bull interests started
covering again, and for two hours the mar
ket, though quiet. showed good deal of
strength
May fluctuations were aprar2 n ly out of he
pale of regular market influences. The open
ing prices of that future were kGAc higher.
1t sold up at once to S.O5, and did not get
below S1.O4 again during the session. Heavy
nv oft on var
to the belief that he would be buyer
Of May, and this proved true, for Letter
brokers were consistent buyers all day, not
only of May, but of July.
The announcement that Letter had con-
tracted for the shipment Of 100000 blu more
of his wheat, all rail. to the coast, and
belief in the early opening of lake naviga-
ton, with the moving of 100000 blu already
loaded In boats. gave the market strong
undertone during the period Of dullness.
The market continued strong until within
q few minutes of the close, when general
realizing set in, many of the early buyers
disposing of their lines. Support in general
way. was withdrawn. and prices dropped
quickly. July had sold as high as S5A@S5Bc,
but it dropped in few minutes to S51sc.. AID
$1.o5is, and closed at s1.O4A.
Corn was steady during most OF the ses-
sion Shorts were the be best buyers The
and by liberal clearances, but weakened on
the unexpected increase in the visible. which
brought out considerable May liquida' ion.
May ranged from 29Ac to 28Bc, and closed
&c lower, at 29lsc.
Oats were strong ard quite a good business
was done. Shorts good BUYERS, and
more outside support developed. The early
advacne in wheat, large clearances and a
good cash demand were the factors. The
expected cold wave was also an influence.
The market symDathized to extent
with the late decline in corn and wheat, but
closed steady. May ranged from 2o1sc to
25lAc. and closed Ac higher, at 2I7sc.
Provisions were very slow, with prices,
most of the session, almost at a stndstill.
The unsettled conditions at Washing on acted
as drag on the market. Strength in the
grain markets had a beneficial effect and
later the demand impro?ed somewhat, pack
ers being the best buyers, and prices ad-
vanced. At the close May pork was SC
and a Nav Tbs ac brber af
Estimated receipts Tuesday: Wheat 1S3
cars corn, 800 cars; cats. 300 cars; hogs,
1000 head
The leading futures ranged as follows: