The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-08-03
WHEAT DROPPED A GENT
Liberal RECEIPTS AND POOR Ca
BLES DAMPENED THE ARDOR
OF BUYERS
LOCAL DEMAND IMPROVING
Ideal Weather and Favorable Crop
Reports Caused eWakness in
COrn-Oats Were Steady
and Provisions ErFatic.
LOCAL DEMAND IMPROVING

CHICAGO, Aug. "A decline Of a cent
took place in the price of wheat today.
More favorable crop reports, disappoint-
ing cables and liberal receipts at primary
points dampened the enthusiasm Of trad
ers. Corn was also weak on favorable
crop, news and declined sc. Oats closed
zsc lower. Provisions were irregular.
Lard declined 21ac, while pork advanced
1242c, and ribs 212g5c.
Wheat opened with a material decline
Initial trading in the September option
ranging from 75Ag7512c, compared with
yesterdays closing price Of 24GD757sc.
Liverpool cables, showing little or no adj
vance at that market, were a good deal
or disappointment to local traders. In
much more cheerful tone and weather
conditions were ideal for harvesting oper-
attons. Liberal receipts at primary points
added to the depression. Yesterdays
buyers were prominent in the early sell
ing, which, however, soon ceased. The
local demand improved enough at the de-
cline 10 impart some temporary firm
ness to the market. September advanced
to I5kC at the closing.
Liverpool cables showed decline Of g
q12c, the market again turned weak, and
from that time until the close Of the ses-
sion the tendency was downward, al
though Scafping operations, which made
up the bulk of the trading, resulted in
several unimpOrtant rallies There was
but little demand for wheat until Septem-
Der had declined to below 75c, when the
market again received support, but not
enough TO cause any substantial improve
ment. although the market became fair
" steady toward the close. September
gradually declined to 7454c, and was
quoted at 74AG747sc at the close.
Northwest receipts were 2S5 cars
against 2S5 last week and 229 year
ago. Chicago receipts We're 255 cars AZ
of contract grade. Total primary receipts
were $4,000 blu, compared with 653, 900 bu
year ago. Atlantic port clearances
were large 6i1, 900 blu. a good demand
was reported for new wheat and esti-
mates of the amount worked ranged as
high as 100000 bu. An increase of about
bic. 80 ->'0 -o' ~ '"e 'lSi-
Corn was weak and lower all day
There was some sympathy with the wheat
decline, but Independent of this, weakness
was caused by the extremely favorable
crop reports and the weather, which was
ideal for ripening corn. Shipment bus
mess was slack, both here and at the
seaD0ard Longs were sellers of futures
Local receipts were PSI cars. September
ranged from S712c to CSC, and closed &c
lower at 37]2c.
though the decline was small in view of
the weakness of other grains. The cash
demand continued to show Improvement
and this had tendency to steady the
speculative market. Country offerings
however, We're liberal, and elevator peo-
pie were sellers. Shippers were the best
buyers. Receipts We're 326 cars. Septen-
per ranged from Else to 2l2sc. and closed
4sc lower at HAsc.
Provisions were fairly active and irreg-
ular Early in the day the market de-
clined al around. there being some dis
appointment over the small decrease In
stocks. Weaker hog prices also had some
influence. Later, quite an active ship
ping demand for pork set the price Of
that commodity up sharply and other
meats followed, though lard did not en-
irely recover. The close was steady,
September pork 121ac higher at $12. 20;
lard PIC lower at Sc. S775Q5 80. and ribs
215@5c higher at 81 1715
Estimates tomorrow: Wheat, 260 cars
corn, $780, oats, $50; hogs 10000
The leading futures ranged as follows: