The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-07-11
WHEAT SHOWED A DECLINE
LOWER CABLES WERE THE PRIME
CAUSE OF THE FALLING OFF
IN PRICES
CORN ALSO SOLD DOWN
COpiOus Rains Were the Cause of
the Depression, Which Was
Much Greater Than
on Wheat.
CORN ALSO SOLD DOWN

CHICAGO, July 10.-Wheat declined to-
day on lower cables and in sympathy
with corn, September closing 7sc under
yesterday. Corn sold off on rains in the
growing belt, and closed 1AQ13sc. lower
for September. September oats closed 12c
lower. Provisions were weak, 1212Q15c TO
30c down at the clece.
All the session the monthly government
crop report, due after the close, stood
as a successful barrier to speculative
operations in grain. In wheat there was
the narrowest market in weeks. Septem-
Der opened 7s@11sc under yesterday at
after. Until the concession in price had
been made there was practically no de-
mand. The occasion of the shrinkage in
values overnight was in heavy receipts at
Liverpool, which resulted In a decline of
B@11sd at that market.
Corn was also weak. and this had a
depressing effect. September recovered
to S01ac later, helped by a big decrease
ter cash demand. It did not hold it,
however, and the close was barely steady,
sc under yesterday, at S01sc.
The trade throughout was mostly nib
bling for small profits by scalpers, who.
without much to lose, rushed in where
angels, if big wheat spectators may be
so called, feared to tread.
The worlds visible decreased 6,160,000
blu. Shipping sales here were 250,000 bu,
and New York reported 10000 taken for
export. Clearances were equal in wheat
and flour to $4,000 bu. At primary points
receipts aggregated 38S,000 blu, compared
with $4,000 bu last year. Minneapolis
and Duluth reported 104 cars, against So
last week, and 657 a year ago. The way
the crowd stood during the day was that
report making the total crop over $780,
100000 would be bearish; under that bull
ish.
Corn was moderately active, but nerv-
Gus in the face of the approaching gov
eminent report. Kansas and other parts
of the country where the big crops come
from had cool weather and good rains
AS the crop expert has been saying sad
things would happen without the afora-
mentioned moisture, and as the market
has been bulled on the dryness there
was naturally a move in the opposite di-
rection today. There was a good cash
business. September sold between 44c and
431sc. closing 1A@l4sc under yesterday at
$40 Receipts, ], 018 cars.
Oats were quiet and rela tiVely Steadier
than the other grain markets. The gov
eminent report will probably show some
loss in the Northwest. This fact saved
the market from further decline in SYM
pathy with corn and wheat. There was a
fair commission house demand on the
early break. September sold between 23zs
and 2414c, and closed 1Rc down at 24c
Receipts were $50 cars.
Provisions were weak Influenced by
large hog receipts, eaSiness at the yards
and the grain eakneSs. There was con-
siderable selling by a big local Spectator
which aided in the slumping Off Sep
TENDER pork sold between $12. IS and $12. 50
and closed soc under yesterday at $12 571b :
September lard between Sc. 971s and s6. S.
closing 124@@15c down at Sc. S50I6. S71s, and
September ribs between $7.071s and Sc 95,
with the close 15c down at $685..
Estimates tomorrow: Wheat, 80 cars;
corn, 3S5 cars; oats, 40 cars; hogs 80 900
head.
The leading futures ranged as follows.