The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-08-03
WHEAT DR(()PED 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 5sc. Oats closed
&c lower Provisions were irregular.
Lard declined PIC, while pork advanced
1212c, and ribs 212G5c.
Wheat opened with a material decline,
Initial trading in the September option
ranging from 75AQ7512c, compared with
yesterdays closing price Of 75% 075Bc.
Liverpool cables, showing little or no ad-
vance al that market, were a good deal
or a disappointment to local traders In
addition to this, crop reports were of a
much more cheerful tone and weather
conditions were Ideal for harvesting oper-
ations. 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-
cine 10 lmpart some temporary firm
ness to the market. September advanced
to l5Rc, at the closing.
Liverpool cables showed a decline Of 81
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
ment. although the market became fair
" steady toward the close. September
gradually declined to 7424c, and was
quoted at TAX G74Jkc at the close
Northwest receipts were 295 cars,
against 2S5 last week, and 229 a year
ago. Chicago receipts We're 255 cars, AZ
OF contract grade. Total primary receipts
were 10000 blu, compared with 653, 900 bu
year ago. Atlantic port clearances
were large 641, 900 blu. A good demand
was reported for new wheat, and esti-
q fn- of ftNA
high as 1900 bu. An increase of about
bic.
Corn was weak and lover all dav.
There was some sympathy with the wheat
decline, but Independent of this, weakness
was caused by the extremely fayorable
crop reports and the weather, which was
ideal for ripening corn Shipment bus
mess was slack both here and at the
seabOard. Longs were sellers of futures
Local receipts were PSI cars. September
ranged from S712c to CSC, and closed 5so
lower at 3712c.
Oats We're very dull and a trlfe easier,
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 hast
buyers. Receipts We're 326 cars. Septen
per ranged from 211sc to 212sc, and closed
7sc lower at H1sc.
PROVISIONS We're fairly active and lrreg-
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 shin
ping demand for pork set the price of
that commodity up sharply, and other
meats followed, though lard did not en-
tirely recover. The close was steady.
September. pork 121ac higher at S12 20:
lard PIC lower at Sc. S71al5. 80, and ribs
21b@5c higher at $7.1715.
Estimates Tomorrow: Wheat. 26O cars;
The leading futures ranged as follows: