The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-07-17
CORN MARKET SUFFERED
C0ARSER GRAINS ABSORBED AT
TENTION OF THE MARKET
MONDAY
BREAK UP OF DROUGHT CAUSE
Liquidation Was General. and the
Price WObbIed Wonderfully
Shipping business for Day
100000 Bushels.
BREAK UP OF DROUGHT CAUSE

7LZa
september wheat Now York. .811k 825S
September wheat. Duluth PIP 1871
CHICAGO, July 1.-THE corn market
suffered Generalization because of the
breakup of the drought, September clos
ing 35sq9Ac under Saturday Wheat felt
ms and weak cables and closed &c re-
duced. Oats closed 1ac down, and pro-
visions from 77a@IOc lower in lard to soc
depressed in pork.
Corn, at the outset assumed a dec;d-
edly weak position which made it the
center of attraction on Change during the
day. The opening was at a loss and ear
~ trading damned the price still further
down. There was practically one factor
rain IN generous quantities in the corn
beIt, Kansas especially. Message after
message announced that the drought had
been broken and the crop left with the
brightest prospects,. There was rain Sun
ances were heavy. Local people got 750,-
OOJ bu on bids sent out last night Sep
TENDER opened 19sc to 2ssc down at 400
42o, and met practically no demand until
the market had slumped to 40Kc True.
there was reaction early, September rail-
lying to 42c after declining to 412sc but
it. did not hold for any time.
Liquidation was general, and the price
wobbled wonderfully at times as holders
looked here, there and everywhere for
purchases. AT the bottom the selling pres
sure was less vigorous and short stock
profits. This resulted in a little recovery,
but the close was decidedly weak. Sep
TENDER S7sQ314c under Saturday at 1880
dc.
The shipping business for the day was
put at lO0O,00 pu, while New York re-
ported 100 loads and Philadelphia ITO loads
worked for export Receipts were 720 cars
Amount on ocean passage increased 1,32S,-
900 blu, and the visible supply showed a
bulge over last week of 10000 blu. Liy-
erpOol closed weak.
In wheat, it was a case Of holders con-
tlnulng to let go, while there was a very
small short interest to absorb offerings.
The selling encouragement was found in
Lne corn weakness, in weak cables from
Liverpool and in rains in the Northwest
and continued more favorable reports
from that section of the country. How
eYer. reports over Northwestern condi-
lions continued to conflict and many good
authorities predicted one-third crop for
North Dakota
New York reported Al loads taken for
export, but the price was still out of line
here. September opened &c higher to
&c lower at 780775sc, and gradually, UNI
der the liquidating pressure, sagged to
t63sc As in corn, there was some re-
coYery from the bottom, but the close
was weak, September 5s0$4c under Satur-
day at 77Bc
Primary receipts were 1,O17, 900 bu, COM
pared with 1880 bu last year. Mime
against 1876 cars hast week and 756 cars a
year ago. Receipts here were 103 cars, Z
OF contract grade. Clearances equaled
Oats acted in sympathy with corn, but
were comparatively steady and rather
quiet September sold between 2414c and
23120235sc closing 1sc lower at Ac. Re
Ceipts were 1877 cars.
The provision market broke with corn,
but rallied a little from the bottom and
closed steady at fair decline from Sat
Sl2.50Q12.15, and closed SOC under Satur-
day at SIPS; September lard between
$3.50 and S6.8715, and closed 71901Oc down
at go and September ribs between Sc. 9715
and $6.7212, with the close 15c depressed
at $780,
Estimates tomorrow: Wheat, 225 cars;
corn, 1l01 cars; oats, 275 cars; hogs, q 900
head.
The leading futures ranged as follows: