The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-07-21
PRODUCTION IN CALIFORNIA CROP
ESTIMATE HAD IT'S Eff
feet
OPTION IS HIGHER
Advance Was From F1ve-Eights to
, Three-FOurths-Late in the Day
Came Gloomy Reports From
III North Dakota.

CHICAGO, July pa reduction in the
California crop estimate and gloomy re-
ports from the Northwest caused an adj
vance in wheat today, following early
weakness, September closing 5aGl9lc over
yesterday. September corn closed A0DBo
better, and oats at q like gain. Pork
closed 22l2c, lard 10c and ribs 15c i'm
proved
The experience of yesterday, a weak
opening and a strong finish, was repeated
on the board Of trade today in the wheat
yesterday at 76ssQ764c, scalpers selling
on bearish foreign news. Liverpool
showed poor appreciation of the advance
here yesterday, and her receipts for three
days were SIz,OOO bu, and contained only
114,OOO bu from America.
Argentine shipments were also large
amounting, according to board figures, to
1,136,OOO bu. Following the opening how
ever, a reaction set in California re-
ports reduced the prospective yield from
100000 tons to $4,000 tons, or Is, 450 900
6u' compared with 100000 a year ago.
Inc eSumate was rather startling The
talent mad been paying more attention
to other points, and the announcement
sent shorts to cover.
Later in the day very gloomy reports
from North Dakota came as a bull in
uuence and helped along the advance.
The market during the forenoon climbed
70 f8c, dropped on profit taking to 779s6D
IfAc, and then recovered to 1874 GD7S3sc.
and lei closed strong, 9s@3Ic over yesterday
at 773lQ77Bc
Ihe cash trade was slow. New York
reported 30 loads taken for export. and
seaboard clearances In wheat and -four
Squaled 42GOOO blu. Primary receipts were
10000 bu, compared with S8S 900 bu last
year, Minneapolis and Duluth reported
228 cars, against 142 last week. end 441
a year ago: Receipts here were I4O cars.
- of contract grade.
A very urgent shipping demand for
corn and great reluctance on the part Of
the holders to accept even the higher
DDS from the seaboard were largely in
sJrumeRtal in causing the market for the
commodity mentioned to rule strong Re-
ports OF damage to Kansas and Nebraska
corn that rains could not repair was
1IkeWise factor, and the wheat strength
anolnef. Ihere was easiness at the start
on rams IN the corn belt, but It was of
snort duration. September sold between
6oasc and 3912c, and closed A6D3so over yes
SSIaay at S9Ac. Receipts were All cars.
shipping bids were fully as good as
they We're yesterday, SC over September
{; l. + Buffalo, for No 2. CARROTS were
even better than yesterday on COVERING
by Western people, who sold on the rains
OatS We're strong in sympathy with
Eheat and corn, but trade was oriet
September sold between 23K and a3sIS6
zSBc,. and closed M@3sc up at 235kO23%c
f'g9eelpts were 21 cars.
IFoNISlons were strong, partly on the
tt, 81 ana partly on light hog receipts
n ~, the West. September sold between
SII.65 and 100 and closed 221Ic oIye-
yesterday at 81 .S71b; September lard he
SEsWeen SR.6l12 and $67715 closing 10c IN at
90. ~, and September ribs between ss 79fE
e. lG o., $$o'"'72' with the close 15c better at
Estimates Saturday: Wheat. GO cars.
corn 1,T, $50; oats, 1855; hogs, y. 900 head
me leading futures ranged az foIiova.