The Saint Paul globe., 1900-06-23
DISPOSITION SHOWN BY TRADERS
TO CHECK THE WHEAT
ADVANCE
JULY OPTION CLOSED HIGHER
Gained a Half Over Previous Day
Despite the Seeming Apathy of
Portion of the Bull Element
Corn Was Strong.

CHICAGO, June 22-Northwest crop e.
ports were more sensauonally untaVofa-
BILE than ever today. but wheat contehted
itself with holding firm, July Closing 12c
over yesterday. Heavy real zing mll1tat-
ed against a pronounced advance. C5rn
was active and strong, helped by wheat,
a better export demand and renewed puy-
ing by local bulls, July closing 2sQ%c
higher. Oats closed Ac up. Provisions
were strong and active, July pork Closed
soc, July lard 25c and July ribs Z212c
Spectators had to swallow long wheat
in heavy chunks throughout the sesS. on,
and at times. July dipped under yester-
days closing. The Northwest spil2S
wheat country was still the great bull
stronghold and dispensed news OF such a
peSsimistic tenor that the offerings Wel e
handled and again, instead of loss of
price was made. Trace was active, not
to say excited, and the market pulse was
rather feverish. A feeling that the North
west shortage, grave as 1t may uItlfra-e-
ly prove, to be, had been discounted, was
prevalent among many traders Inc
heavy profit-taking did not tend to change
this opinion In other words, it w5s held
by many that the price had advanced
sufficiently to allow tcday,s news-Wh1ch
was the most unfavorab'e e. yet received
to be ignored. Hot weather and Gear
sky were generally reported from the Da-
kotas, Minnesota and Manitoba. From
these states, crop possibilities were gen
orally reported two-thirds ruined and
the condition was called a veritable d.s-
aster. Statisticiah Snow, of the Board of
Trade, just back from a thorough ia
vestigatton of the situation is reported 10
have declared the two Dak0tas will not
raise over 40,000,C09 bu, while other au-
thorities said the three Northwestern
states together with Manitabo, viii not
produce over G0,000,000 bu this season.
July opened 114c to &c over yesterday
at S31Sc to SS4sc,- and shortly afterwards
sold at S2Ac. The opening bulge was un-
der the influence Of news of the character
hereinbefore mentioned and the imp
was on profit-taking by longs. The North
west was still a buyer, but following the
opening the market fiuctua ed according
as the pressure from longs was heavy or
merely easy. July, following this dip ral-
lied to S3$sGSS1ac whereupon longs went
after more profits and sent it back to
time touching S31@c The market was
pressed back to $3.50, but firmly resisted
and closed 12c over yesterday at S918c
Cearanees zoe soo Were , Saual IN wheat "a an9
loads taken for exports: Rece'pt at
primary points were 5l2,G0O bu, eomrar d
with 977, coo bu lat year. NJ nneapots a d
Duluth reported 425 cars against 43S last
week, and 669 a year ago. Local receiDtS
were 14t cars. 36 of contract grade The
Modern Miller reported harvesting of w n
ter wheat progr5 ssing favora bly,.
Corn was strong the greater part of he
session. The market CFered with SPA p
advance in sympathy with wheat but
country offerings were liberal and re-
CNlplS large anu CDe uSCIl1S IN WneaC
from a ready sympathiZer in corn. The
market lost the early advance ard 1Ac to
boot On the decline came renewed sup
port from the old bull crowd and buying
by people from the provisions pit. The
market stiffened and the wtndup was
strong. July sod between 409sc and 417ac
closed 9s03tc over yesterday at 41150 !13sc.
Receipts here were 792 cars.
The oats market was strong and active
and the crowd in the usually neg'ect d
pit double the usual size The Northwo~t t
was a buyer because of loss of faed stuff
and shorts covered moderately on the
corn strength. Complaints Cf scarce haV
lack of grass, and an oats s',ortage were
received July sold between 241k6Dz5c, and
closed &c over yesterday at 243lc Re
ceiDts here We're 2SS cars
Provisions We're active 2n1 strong TIE
pit seemed to have ct last contracted the
bull fever which has been affecting grains
Hog receipts were light, prices at the
yards firm and there was a broadening
Of the demand. July pork sold between
S11 .f214 @12.1 121@ ard rlo- ed ct $12.0712 July
lard between Ss70fa6.971a closing al Sc 971b
and July. ribs between E6.7712@7. with the
close at S6971@.
Estimates t. morrow: Wheat, 100; corn,
77A: oats. 200; hogs. 17,0'p
The leading futures r.nged as follows: