The Saint Paul globe., 1900-06-21
PRESSURE WAS 100 GREAT
HEARS VAINLY 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.
NEWS OF DAY ALL BULLIsH

CHICAGO, June 20.-Under an enormous
pressure caused by the Northwest crop
yesterday, and held every fraction of
it to the close. The other markets were
helped by the wheat strength, corn clos
ing at Use, oats 1c, and provisions &c TO
l12c higher.
Drouth had ruined half the wheat crop
of the fruitful Northwest, and now ex-
cess1ve heat, according 70 t9da3~s dis
patches, Is burning up the stinted re-
mainder. message from that unfor-
tunate part Of tine country said the tenn
perature was l00 III places. Ii any adj
ditional stimulus were needed to cause u
continuance of recent heavy buying, it
was found in the news mentioned.
The market started the session with a
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
to an extreme degree. Many authorities
said that where a few days ago half
crop was possibility now, with
the lack of rain, the less WI
be in the neighborhood of so per
cent. july opened 1Ac TO 1Isc over yeS5-
terday, at 1889 TO T914c, and in d series
Of kangaroo-like leaps following a dip
TO tS14c near the opening advanced to
olisc at which the close came, 3$4c over
Yesterday.
The Northwest was a heavy buyer. but
AT that it could not be said to have lead.
The demand came from everywhere, ap-
pdrently; 1OO.OOO-bushel lots offered from
profit by fortunate possesseTS We're gob-
bled up like a=peck OF potatoes and the
stat1stlcians 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
nlshing TO the local people additional i'm
TuiSeS.
The cash business was curLaled by the
sNyrocketing Of futures. The dips dur
ing the day were inconseQuential general
". During the forenoon, July having
Jumped to I9}4c, sold off to 7S44c, longs
Aquidating, but following that the dips
large market: An estimate puts the
amount Of wheat which changed hands
today at 30,00O,C00 bushels.
Clearances at the seaboard were equal
AIRY receipts We're SOS, ,000 bushels. COM
pared with 100000 bushels last year
Minneapolis and Duluth reported 351 cars
against 4S4 last week and 713 Il year ago
Receipts here were 101 cars-nOne of con-
tract grade.
A coed general buying of corn resulted
from the wheat strength, and that mar
ket closed the session in a strong con-
dition. Receipts were liberal-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 597sc and 4l1sc, closing at the top,
l3sc over yesterday.
Oats We're more active and strong,
helped by the advance in wheat There
was still considerable changing. The
Northwest bought some on talk of crop
losses in the Dakotas and Nebraska Re
ceipts were 209 ears. July sold between
z3Ac and 2418c, closing 1c over yesterdays
at 241sc.
Provisions spectators were calm in the
midst. of the surrounding excitement. 0ut
were in accord with the general improve
ment sufficiently to advance the market
a bit. July pork sold between $11.t Is and
SlL57R and closed 712c up at $l1.55, July
lard between $3.50 and $6.671a, closing sc
$6.65 and $G.72}2, with the close SC better
at $G.I2iz.
Estimated receipts tomorrow: Wheat,
S. cars; corn, SIS cars; oats, 30G cars;
hogs. 55, ,OG0 head.
The leading futures ranged as follows: