The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-04-08
REPORT WAS CURRENT THAT IN
FLUENTIAL LONGS WE'RE
READY TO DISGORGB
WHEAT WEAK AND LOWER
May Closed Quarter to Three
EfGhths Below Closing Figures
of Previous Day-0ats Also
Showed Loss.
&Prev.
H.

CHICAGO, April IA report was cur
rent on change today that some fnftuen-
tial longs were ready to disgorge their
corn holdings. This was an influence In
the grain markets, which were easier.
Fear of a squeeze in ribs was present In
the hog product pit, the close being from
higher in ribs. May corn closed steady
ss07ac lower, May wheat weak, A9Sso
down, and May oats easier at a loss from
yesterday Of 1sc.
Corn opened weak but found some
friends after q concession of about 12c
from yesterdays closing figures. They
held it up and gradually forced 1t up a
shade over yesterday. But they were not
strong enough to hold the advantage.
There was g beariSh element at work in
the pit. and considerably embOldened by
the report that certain heavy longs were
ready to reap their harvest of profits.
brought considerable pressure to the SELL
ing side. They were those who thought
the market much too broad to be in
even a coterie Of them. one student of
the situation remarking that the great
American steer and hog were running to
corn good deal this season. Some coun-
try reports made acceptanceS overnight
freer, while others said the farmers were
still disposed to keep the coarse grain in
their own cribs. Liverpool was lower for
futures, but firm for spot. Baltimore re-
ported 250.000 bu accepted by the other
side. Local exporters reported foreign
bids away out of line. Primary receipts
were $4,000 Blu, compared with $4,000 a
year ago. Atlantic port ciearances were
1909 bu. Receipts here were 362 cars.
May opened Ac to Sc down at 395s@40c,
advances to 40Ssc and then reacted to
1890, closing steady. $s@12c down at 1914
W40c. Trade was active at times, but the
volume Of business showed a falling off
from recent quantities.
Wheat was duh and weak. Shorts had
their eyes on the actions Of corn, but the
general attitude was bearish and told In
the end. The cash demand was poor, and
the supply on the floor generally over the
demand. The market took a brace fol-
lowing the opening In sympathy with
corn. but promptly weakened when the
big cereal reacted. The speculative trade
was light. New York reported five loads
taken for export. Seaboard clearances in
wheat and Hour were equal to $50, 900 bu
Primary receipts We're 1900 bu. COM
pared with All, coo year ago. Minneap D.
oils and Duluth reported 1853 cars, against
4Sl last week. and S5S a year ago. Local
receipts were AZ cars, none contract
grade. May opened unchanged at 662@
661sc. declined to 66Ssc. reacted with corn
70 $3.50 and then broke to 661Ac at which,
the market closed ssq1Ac under yester-
day.
The provisions market was firm and
fairly active in spite Of the grain east
ness, and lower prices at the yard A
good demand from packers, together with
rear OF squeeze in ribs, the supply OF
which is light. We're the factors. Interest
was keenly conferred In May ribs. Shorts
were very uerNSuS- May ribs sold from
81 to $7.05 and closed at $702lb May pork
closed 212c up at $127O and May lard al
21"c better at $685.. There was consider
able profit taking throughout the SEES
sion.
The oats market followed corn. The
speculative market was tame shippers
| being the principal sellers. Local re-
celpts, 173 cars. May sold from Csc tc
| 249s024&c, closing 1sc lower at 243zc.
Estimates Monday: Wheat so cars
corn. 475 cars; oats. go cars; hogs. 81 900.
The leading futures ranged as follows.