The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-12-29
WHEAT SHOWED Strength
MAY FUTURE AT CHICAGO WAS
MARKED UP HALF A
CENT
TRADE IN THE PITS WAS DULL
Corn Held Its Own, and Cats and
Provisions Were Very Firm,
Closing Slightly
Higher.
TRADE IN THE PITS WAS DULL

CHICAGO. Dec. 2S.-Firm cables, lighter
receipts and a reduction in Argentine
shipments caused a rally in wheat today,
May closing PC over yesterday. May corn
closed unchanged and May oats 3sc high
er. PToVt ions at the close were 21291Gc
better in price.
The general opinion before business be-
gan was that there would be imposing
amounts of long wheat for sale conse-
quent TO the government figures, and
those who wanted to buy held eff from a
recession in prices: May opened 1s@Ac
lower at 72I2c TO 72fsc, nerVouSly touched
725s1723ac and then dropped to 723s@7z1ac.
The unloading of wheat that had been
expected failed to m2terialiZe. The course
of the wheat market thereafter develop
ed the fact that it had been oversold.
Bids for wheat served mostly to keep the
price an elusive fraction away until May
had fully recovered. Even at the top
price, T3i4Gil 3%se, offerings were only mod
crate. and the close was firm. 12c higher
at 1914 c. LpcaI shorts. did the greater
part of the. buying. They are Influenced
by firm liverpool and Paris cables in the
face of the government report, but a
-, falling off in Northwestern receipts, anG
also by lighter Argentine shipments.
Even from the government reports bulls
gathered some comfort. They figured do
nestle requirements at 800, G0e, 600 bu and
European at 1000 0,G00 bu. Inasmuch as
the report shows a crop of only 522, O00, 600
bu, they saw nothing but higher prices.
The volume Of trade was not large, EST
was it AT any time mere than moderately
brisk Chicago receipts were 116 cars, L
OF contract grade. Minneapolis and Du-
luth reported -228 cars, compared with 346
cars last week and s33 cars a year ago.
The aggregate of Western receipts at pri-
mary points was 607, 600 bu, against -536, 900
bG the previous week and 552,G bu a
year ago. Exporters reported % loads
taken. Sea5oaFd clearances in wheat and
flour We're equal to 25S 900 bu.
Corn was moderately active at the
opening, but become dull and narrow lat
or. The government report was appar-
emily GGa.nSt the bulls, but there We're
many who thought these figures only
commensurate with the vastness of pres
ent-day requirements. The opening was
easy. hut the market steadied later on
moderate country offerings and III sympa-
thy with the wheat strength May sold
between 36@c and 36ssca and closed un=
changed al G6l4c' Receipts were 443 -cai s,
3 of contract grade. While the govern
ment report on oats did not materially
change prevailing IDEAS, the mere fact
that it was out Of the way produced a
little life in the market. The market not
only ruled inn, but exhibited strength
enough TO pull itself out of the rut in
which II has recently been pI0dding. May
sold between Z35sc and 24c and closed 1sc
higher at I37sc. Receipts were 10 cars.
PrevfSions were quiet but firm, except
for December lard, which lost its recent
manipulative support and dropped off &c
Moderate hog receipts, fair local buying
and the wheat strength were the main
between .$12. 0l19 and $12.20 and closed Ice
higher at $l210; January lara between
s.. I0GG6. II12,. closing 212c up at $6.771h, and
January ribs between. $s.22A5 and Sc. 80,
withs,the close sc improved at $3.50
Estimated receipts for tomorrow are:
Wheat, %. cars; corn, AGO cars; oats, 200
cars; hogs 1900 head.
The leading futures ranged as folIowss