The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-04-07

CHICAGO, April 6.-The liquidation
in wheat today by longs on all the nara
spots was too much for the buyers WHO
came forward on account of crop damage
reports May, after an advance OF &c, ielt
off with a net decline of sc July closed
UNCHANGED Corn lost 1sc. Oats gained
&c Pork closed unchanged Lara ana
ribs declined 2l2c each.
The wheat market was eXceedlnly nerV-
Gus and uncertain. Milder weather and
somewhat lower Liverpool cables caused
some LIQUIDATION at the start and a con-
seouent decline. = The sellers were soon
bailed out, however; and as soon, as the
selling pressure was removed the market
had a rapid recovery on. buying orders
from traders who had further crop dam
age news from the country. May opened
LQ3sc lower, at from 72Ac down to t27se,
and after rising to 7Sc, without any wild
stirring of the contending forces, the
price shot suddenly up to 735sQt73s4c. July
was also responsive to the crop damage
complaints The price of May gradually
receded to around 73c, and then occurred
a struggle among some large scalpers TO
see who could unload fastest The SELL
ing resulted in a sudden collapse to 72$sc
for both May and July. Then recovery
set in that was about as sudden as the
slump had been. July was the leader on
the second rally, going to Ac premium
for time.
Everything gave place to the shoals of
sensationally bad crop reports that came
from all directions. From Nebraska Ito
tai ruin was the cry from many sections,
and Kansas was not far behind the eX-
cepton being a report of less than 81 per
cent damage. Many claimed the losses to
be 70 per cent. The feeling of opposition
to an advance was not allayed, however
Every advance brought out free offerings
- t,14 hsaI flnN l. al
was not broad enough to absorb without
yielding temporarily.
Chicago received 101 cars, Of which two
graded contract. Minneapolis and Duluth
got 800, against 1S9 a year ago. Total pri
mary Western market receipts were 374,
coo, compared with 2S3,G00 a year ago. At
lantic port clearances were equal in wheat
and flour to 100000 blu.
AS the crowd had loaded up on every
bulge, the burden became too heavy near
the end, and they were compelled to drop
some of 1t, as the session approached the
close. May reached 735s%c on one of it's
upward stretches, and twice after that 1t
dropped to re, and recovered again to
1870, but finally rested at 725sc July
closed Isc higher than May, at 72Ac.
Corn was sluggish and disinclned to adj
vance, even when wheat was in bullish
mood Trading was only on a moderate
scale and chiefly for local account. May
started 1s@4c lower, at 347sc down to
3434c, improved to 351sc declined again to
3434c, and closed at 343sc
A brisk demand from the country was
the main feature in oats. There was
weak spot early, but the loss was soon re-
gained when buying orders from the
country began to come in, on account of
the backwardness of the season. There
was also a good cash demand. Receipts,
13S cars. May began a shade lower at
263sc, rose to 271sc. then eased off to 26A@
$3.50, sellers, at the close.
Lower prices for hogs at the yards
started provisions easy. There was
feeble rally later, on some covering of
pork. May pork opened, PFC lower, at
$9.2212; improved to $9.321a, and eased off
to $9.Z71A at the close. The range in lard
and ribs small.
Estimates tomorrow: Wheat, 46; corn,
$50; oats, 106; hogs, 24,000 head.
The leading futures ranged as follows: