The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-07-14
WHEAT SHOWED \ DECLINE
THERE WAS A LOSS OF ONE AND
ONE-EIGHTH TO A
QUARTER
NORTHWEST REPORTS DID IT
Rains Said to Have Good Effect and
Bears Took Advantage of State
ment-SIiGht Improvement
Toward the Close.
NORTHWEST REPORTS DID IT

CHICAGO, July 13.-Weather conditions
influenced all of the grain markets to-
day. Reports of improvement in the
Northwest and the raising of the figures
on the estimated yield were the principal
factors in a decline of 1B01Hc in wheat.
Corn closed 18Q7sc and oats 1sGgl4c lower.
Provisions were steady on light receipts
and good cash demand, and closed 212QD5c
higher.
The opening tone of wheat was rather
strong, September starting at an advance
of 1sQG9sc at S0k0S0Ac. This was due en-
tirely to pit trading, local spectators be-
ing Influenced by the fact that foreign
markets did not show an adequate re-
spouse to yesterdays decline here, and
to the seriousness of the Chinese situa,
ton. The strength disappeared almost
Immediately.
Reports from the Northwest told Of an
improved condition of wheat as a result
of rains and the cooler weather prevail
ing, and figures on the crop given out to-
day by the Trade Bulletin We're raised
considerably. This quickly changed the
balance of trading in favor of the bears
The Northwest sold considerably, and the
steady decline in the price finally discour-
eyed longs and resulted in considerable
liquidation, which was kept up with more
or less steadiness all day.
Toward the close of the session there
was slight improvement in tone, caused
principally by covering by Northwest
traders, who had put out wheat earlier
in the week, and who had good profits in
sight The closing, however, was heavy,
though at a little better than bottom
prices September sold down to zoe, but
recovered TO 1850 on the late buying. Fhe
close was at 791s@79Hc
Northwest receipts were 142 cars, COM
pared with 102 last week and 4S3 year
ago. Chicago receipts were 81 cars, Is of
contract grade. Total primary receipts,
509,000 bu, against 7S5, 900 year ago. New
York reported 50 loads taken for export
Seaboard clearances were equal to 215,000
bu.
Corn was strong early, Influenced by
reports of continued hot weather In Kan
sas and Nebraska and absence of rain
with decidedly peSsimiStic crop reports.
Opening prices showed a substantial ad-
vance, and this induced profit-tal1ing to
take prices on the down grade for the
rest of the session. Some liquidation was
induced by predictions of rain in the
drought stricken districts. Country OTTER
ings were light. The seaboard reported 60
loads taken for export. Local receipts
were 635 cars. September ranged from
ct 1880.
The oats market followed closely the
fluctuations of corn. Opening prices were
slightly higher, but the market soon de-
cllned on selling by local traders, in>
uuenced by the weakness of other grains
Traders who bought early in the week
on damage reports from the West We're
conspicuous in the selling Receipts We're
Ibl cars. September ranged from 2424c to
24Ac, and closed 1sG1Ac lower at 24Ssc
PROVISIONS, though rather dull, showed
6teadiness throughout the session. Hog
receipts were light, and the cash demand
Tor meats was good and prices were web
sustained even when grain markets Wers
at their weakest. Fluctuations were I'M
important AT the close September Itork
was 21295c higher; September lard Sc
higher, and September ribs 21sc higher.
Estimated receipts Saturday: Wheat
20 cars corn, $50 cars; oats 40 cars,
hogs, 1880 head.
The leading futures ranged az follows.