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

CHICAGO, June 20.-Under an enormous
pressure caused by the Northwest crop
situation wheat today advanced 3$4c over
yesterday, and held every fraction of
it to the close The other markets were
helped by the wheat strength. corn clos
ing at l9sc, oats 1c, and provisions &c to
lI2c higher.
Drouth had ruined half the wheat crop
OF the fruitful Northwest, and now eX-
cessive heat, according to todaE.s dis
patches, is burning up the stinted re
nlaInder. A message from that unfor-
tunate part Of the country said the tenn
perature was 100 III places. Ii any ad-
dftional stimulus were needed to cause a
continuance OF recent heavy buying, it
was found in the news mentioned.
The market started the session with d
good advance over yesterday, and kept
ON advancing to the close. Throughout
the day the news OF the condition Of
to an extreme degree. Many authorities
said that where a few days ago half a
crop was a possibility now. with
be @ in the neig6borhood ID of 50 pc per r
cent. july opened 114c TO 1Esc over yaG-
terday at iS1sc 10 1g14c, and in d series
Of kangaroo-like leaps following a dip
to To34c near the opening advanced TO
ol4sc, at which the close came, sac over
yesterday.
The Northwest was heavy buyer, but
az that it could not be said to have lead
The demand came from everywhere, .ap-
parently; LOG, ,0G0-bushel lots offered from
profit by fortunate possessors We're COB
bled up like a peck OF potatoes, and the
statIStlcianS 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 10 the local people additional i'm
rUlses.
The cash business was curLailed by the
skyrocketing of futures The dips dur
tiaI rrsar1 t-e,l
ly. During the forenoon, July having
Jumped to 19Ac, sold off to 7SAc. longs
liquidating, but following that the dips
were too small to be notable in such a
large market An estimate puts the
amount of wheat which changed hands
today at 30,G0 Coo bushels.
Clearances at the seaboard were equal
in wheat in Hour to 2S4, ,0G0 bushels. Prim-
AIRY receipts were $500 bushels, COM
pared with 100000 bushels last year.
Minneapolis and Duluth reported 351 cars,
against 4S4 last week and 7l3 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
ket closed the session in a strong con-
dition. Receipts were liberai-47S 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 $3.50 and 411sc, closing at the top,
I$sc over yesterday.
oats were 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 cars. July sold between
23Ac and 24lsc, closing 1c over yesterday s
at Z45$c.
Provisions spectators were calm in the
midst of the surrounding excitement. DGt
were in accord with the general improve
ment sufficiently to advance the market
Il bit. July pork sold between $1L45 and
SIL5715 and closed 712c up at $11.55, July
lard between $50 and $6671a, closing sc
improved at $5.6712. and July ribs between
S6.65 and Sc. G.72i2, with the close &C better
at $6.T2t2
Estimated receipts tomorrow: Wheat.
50 cars; corn, 5S5 cars; oats, BOG cars;
hogs, IS, 900 head.
The leading futures ranged as follows: