The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-06-09
PROFTT-TAKING FAILED TO HAVE
THE USUAL DETERRENT Eff
Feet UPON ADVANCES
NORTHWEsTLED IN INFLUENCE
Reports Were All Favorable to the
Bull Element, and No Time
Was Lost In Reaping Har-
vest-COrn Higher.

CHICAGO. June 8.-Heavy general buy
Ing, caused by the dry weather in the
Northwest. advanced July wheat 2a4c to-
day. Sympathy with wheat advanced
the other market. July corn advanced
1203sc and July oats &c. Provision at the
close were DC to nc improved.
July wheat opened at 71@71Hc, a fat
jump from yesterdays close of 11s@1ze.
Then began a trade which in excitement
and volume exceeded even yesterday
when traders were referring to the days
advance was occasioned by the fact that
the Northwest was still without rain
realizing sales were heavy, however, and
July following the opening declined to
G04c. Then the pressure of buying or
ders. punches of which every man in the
pit seemed to have in the greatest plenty
came to the aid of the market, and July
shot up to 71Bc. Lots which during the
recent dizziness would have caused a
break In prices were absorbed without a
tremor. -.- ~
At this point the weather bureau an
nOuncement of indications of showers for
the Northwest Saturday caused some
cessation in the buying and the takers
OF profit forced July gradually back to
704sc. The dip. however, merely gave the
buyers a breathing spell, for at the
price just quoted they jumped into the
pit with renewed vtgor. Northwest in
terests bought enormous quantities as
short early upon the theory that the
advance of yesterday would, in the nat
ural course of things, be followed by a
reaction, covered, thus aiding the adj
vance Trading during the last hour
was very heavy. July climbed up to 72%c
and closed 2%4c improved at 725s672a4c.
Cables were strong, and the situation
in Indiana, Michigan and Ohio was not
improved, but these considerations. as
we'll as the immediate cash position were
far in the background of influences. The
Northwest had the center Of the stage
all to itself Testimony from the spring
wheat territory was nearly unanimous
that the crop situation was becoming
more critical. AS a rule, private adj
vices from the Northwest described yes
tercay as the worst the wheat crop has
undergone so far. High winds and sand
yesterday, it was said did further dam
age to the North Dakota crop. Through
out the entire session Northwest bought
persistently and heavily.
Naturally there was a great deal of
liquidating, but the small part the North
west took in this was noticeable, and
was factor in the squirt with which
the session came to a close. New York
reported Is loads taken for export. Sea-
board clearances in wheat and flour
equaled 4S2 900 bu. Primary receipts ag-
gregated 665, 600 blu. compared with 75S, 900
bu last year. Minneapolis and Duluth
reported $50 cars, against ia last week,
and $50 a year ago. Local receipts were
Y cars, of contract grade.
Corn was easy and dull during the first
advance in wheat and gave no Indication
of the masked battery it had prepared
IOT the pears, ana winch IL uncovered at
a critical time and sent them rushing to
cover. The pit had been deserted in fa-
vor of wheat until some buying orders
brought out the fact that there was
very little for sale. In few minutes
July went up cent bushel The con-
dition disclosed in corn was due to the
wheat strength, and once started the
shorts were not to be denied. July sold
between 3S2se and 491sc, closing 11b@1%c
improved at 401sc. Local receipts, AIS
cars Country offerings were small
Oats, like corn, Jagged early, but later,
in sympathy with the corn and wheat
strength, braced up and closed strong,
although trade comparatively was not
very active. Shipping business was slow.
July sold between 21%c and 221k0225sc,
closing &c better at 221ac. Receipts here
We're 157 cars.
The provisions market was firm, In
sympathy with wheat and corn. The
opening was firmer on an advance at the
yards, but hogs later eased off, ceasing
as a bull influence for the day. There
was a fair demand. but offerings in the
pit were fairly liberal. July pork sold
between S11. 70 and S11 80 and closed TIC
over yesterday at 1.S71a: July lard be-
tween Sc. IS and ST. with the close SC
higher at 81, and July ribs between Sc. IS
and $3.50, with the close 5q71ac better at
Sc 80.
Estimates tomorrow: Wheat, 50 cars;
corn, 300 cars; oats, 1S5 cars; hogs, 20. 900.
The leading futures ranged as follows: