The Saint Paul globe., 1900-06-21
HEARS VAINIY SOUGHT TO STEM
THE ADVANCES IN
WHEAT
NEWS OF DAY ALL BULLISH
Gain Over Previous Day at Close
was Three and Three-FOurths
Cents, with Strong Tone
Prevailing.

CHICAGO, June 2O-Cnder an enormous
pressure caused by the Northwest crop
yesterday, and held every fraction of
II to the close. The other markets were
helped by the wheat strength, corn clos
ing at l3sc, oats 1c, and provisions &c TO
Drouth had ruined half the wheat crop
OF the fruitful Northwest. and now e1,-
ceSalNe neat, according TO IOdaSs dis
patches, Is burning up the stinted re-
mainGer. 4 message from that unfOr-
tunate part Of tine country SAID the tenn
Perature was 100 III places. Ii any adj
ditional stimulus We're needed to cause i
continuance OF recent heavy buying, it
was found in the news mentioned
The market started the session with
good advance over yesterday, and kept
on advancing to the close. Throughout
the day the news OF the condition OF
the plant in the Northwest was gloomy
10 an extreme degree. Many authorities
saId that where few days ago half a
crop was a possibility now, with
the lack of rain, the less w II
be in the neighbOrhoCd of so per
cent. july opened lac to 156c over yaH-
terddy, at IS3sc to I94C, and in Il series
Of kangarOO-like leaps following dip
to Io74c near the opening advanced to
ol3sc, at which the close came, SAC over
yesterday.
The Northwest was a heavy buyer but
AZ that 1t could not be said to have lead.
The demand came from everywhere, ap-
PATIENTLY; 1G0,000-bus lots offered from
bied UP like peck OF potatoes, and the
statistIcians on the board nearly lost
their wits trying to keep track Of a
market which had gotten far out of or
binary bounds. Outside markets ad-
VanCed, those in the Northwest shooting
UP faster than even Chicago, thus fur
mshing to the local people additional i'm
Iuises.
rhe cash business was curlailed by the
shyrOcketing Of futures. The dips dur
ms the day were inconsequential general
". During the forenoon, July having
Jumped to 1890, sold off to 7SAc, longs
hquidating, but following that the dips
were too small to be notable in such a
large market. An estimate puts the
today at 80 000,CG0 bushels.
Clearances at the seabOard were equal
in wheat in hour to Sa 234, , eco bushels. Prim-
pared with 1000, ,O0O bushels last year.
Minneapolis and Duluth reported 351 cars,
against 4& last week and 713 Il year ago.
Receipts here were 101 cars-none Of con-
tract grade.
A good general buying of corn resulted
frOm the wheat strength, and that mar
keL closed the session in strong con-
dltiOn. Receipts were liberai-416 cars
here-and shippers seemed to have fairly
liberal acceptanCes to their bids made
last night. Also the crop situation was
favorable, but The buying of wheat was
too much TO be ignored. July sold be
tween 591sc and 411sc, closing at the top,
l3sc over yesterday.
Oats We're moro active and strong,
helped by the advance in wheat There
Was stiil considerable changing. The
Northwest bought some on talk of crop
losses in the DakOtas and Nebraska Re
ceipts were 209 cars. July sold between
Z3Ac and 2418c, closing 1c over yesterdays
at 41sc.
Provisions spectators were calm in the
midst. Of the surrounding excitement. Dut
were in accord with the general improve
ment sufficiently to advance the market
Il bit. July pork sold between $1l.45 and
5lL57@ and closed 712c up at $lI55, July
iard between $3.50 and $6.6713, Closing SC
improved at $6.G772 and July ribs between
$3.50 ami $G.72}2, with the close SC better
at SG.IZiu.
Estimated receipts tomorrow: Wheat,
s. cars; corn, SIS cars; oats, SOC cars;
hogs. $50 head.
The leading futures ranged as follows: