The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-06-24
OF CHICAGO BOARD OF
TRADE
FRANTIC EFFORTS TO BUY IN
Shorts Struggled to Save Them
selves, While Each Report Re-
ce1ved but Added to BuIIish
Tone OF the Market.

CHICAGO, June 23.-Ju.y wheat at the
close of sensationaIy bullish sess on
today closed 47sc over yesterday at $50.
1t sold Immediately after the bell rang al
&c. A strong advance at Liverpool and
the almost total destruction of the MOI tn
west crop were the factors. Corn closed
lA@laSc and cats &c improved. Provisions
We're excited, July pork closing 4H2c.
July lard l5c and July ribs T71zc better
than the close yesterday.
July wheat opened 27sc to SIC highe"
at soc to SIC, advanced to SSc, declined 10
S6%.c and then rallied to SSc. closing at
the last given price, acc over yesteI
day. This cold figures. the story of
wild, panlcky and decidedly bul!iSh mar
its strength, but throughout the ses. ion
the market had the appearance of but-
Hshness gone wild. An advance Of Sd
at Liverpool and mass OF messages
reporting an almost total failure of the
spiing wheat crop in tee Northwest
brought in buying orders by the nun
dreds. Many sections of the Dakotas and
Minnesota and of Manitoba, reported to-
tai failures. Others told Of thin, spare.
sickly crops, good for from three to SIX
blu to the acre.
There was still no indications of rain
in the Northwest while the Temperature
remained high. There was little talk to-
day of Improvement if good rains should
fail. even at this late date. Statistician
Snows estimate Of a crop Of I5,G90,OOO bu
for tie three states should there be no
high by many today
At the opening the pit was damned
with buyers and sales were made all the
way from SIC to SIC. Heavy profit-taking
by longs kept the crowd from getting per-
fectly crazy. There was apparently no
big short interest. July was forced back
to S51zc by the dumping OF large lois onto
the market. There the market buc5ed
with a vengeance.
The Northwest was a heavy buyer, as
usual, and foreigners with whom most
IF int low
ed freely July, under this buying and
some let-up in the realizing pressure, re-
bounded to SSc Longs crushed it back
TO S6$Ic again, but permanent dips were
not on the schedule and the market clos
ed entirely recovered, July 47sc over yes
terday at $50. This is an advance OF
l27sc since last Saturday. Before the
crowd had left the pit, however, July sold
al S9c.
Atlantic port clearances We're equal to
$3.50, Geo bu. Primary points receipts were
5STO0O bu, compared with 1,G61, 600 last
year. Minneapolis and Duluth reported
All cars, against 451 last week, and SIS
year ago. Receipts here were 149 cars, %
of contract grade.
Trade in corn was active and broad.
The great wheat strength was unQues-
uonably the influence. as country offer
ings were heavy, receipts liberal and the
shipping demand poor. Following the
opening advance, selling by longs forced
the price back, but a rally followed and
the close with most of the advance held.
July sold between 417kG42c and 43c cIos-
ing lAM$sc up at 4212Q423sc. Receipts here
were IT'S cars.
Oats were active and strong. Wheat
was a great bull influence, but North
west damage to the crop and loss of
hay and pasture in that territory were
important factors. Local interests took
profits on the bulge and elevator people
were sellers. July sold between Csc aud
26c, closing &c over yesterday at 2512c.
Receipts here were 319 cars.
o ma l<at was md
strong At the best pork showed an adj
vance Of almost 81, lard 25c and ribs 35c.
The market took its start from the grain
advance. Outsiders came in a rush as
buyers and shorts were in semi-panie.
From the top the market reacted partial
ly. selling by packers being the factor.
July pork, sold between So 80 ard $l3. and
closed 4712c over Yesterday at $l2 e.; JEiy
lard between sos and $717lh closing 15c
higher at $1O715, and July ribs betwt en-
%1219 and $50 with the close TIC i'm
proved at $7.15.
Estimates Monday: Wheat, 115 cars;
corn. 600 cars; oats, 225 cars; hogs, So
GOO head.
The leading futures 4nged as follows: