The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-08-16
BOTTOM DROPS OUT OF WHEAT,
THE SEPTEMBER OPTION
CLOSING i 3-4c DOWN
CORN SHOWS A HEAVY DROP
Loss oG I-2@I 5-Sc-Onts Depressed
7-ScGIc-PrOvisiOns From
Shade to zoe
Down.
Closing.

CHICAGO. Aug. 15.-Gran markets
were weak today, cables and crop re-
ports contributing the chief disturbing
influence. Wheat closed l&4c, corn l12GD
5sc, and oats B91c lower for September
delivery. Provisions closed a shade to 25c
depressed.
September wheat opened nc to &c low
er at 72l@c to TIC because Liverpool was
weak and Northwestern observers said
conditions were favorable for harvesting
the crop of spring wheat. Under liquida-
tion the market early dropped 60 n12c
"a rally to 7216c followed on covering by
shorts, who We're impressed by the mag
nitude of SeabOard clearanceS. Senti-
ment in the main was bearish, however
Prospective heavy movement from the
two DakotaS and Minnesota was silently
reckoned with and the impression pre-
vailed that heavy foreign demand,
firmly sustained would be necessary to
maintain prices. Liquidation again start
cd the market on the downward course.
StOp-lOSS orders were reported, and near
the end Of the session September touch
cd 1Bc The close was weak, lac under
yesterday at uAc. Exporters reported IS
loads taken. Seaboard ClearanCeS, with
Galveston TO hear from, were equal to
(H3l2.0 coo blu. Primary receipts aggregated
J22 900 bu, compared with S25 900 bu last
year. Minneapolis and Duluth reported
359 cars. against 1Sl last week, and 242 a
year ago Local receipts were l59 cars,
% contract grade.
Liquidation ruled corn prices. General
Improvement in the prospects for late
SOWn maize was reported. Two period
icals of considerable influence with trad
ers published articles based on private re-
ports from the corn belt, decidedly bear
ish in import Both claimed that recent
developments show the government re-
port and other estimates recently made
were too pessinistic. These items to-
gether with the weakness of wheat and
corn at Liverpool, set longs TO selling
Almost the only demand came from
shorts who were taking PROFITS. Sep
TENDER sold between 5S1R, the opening
figure and 571I. and closed weak 11I0sc
lower at 571ec. Receipts We're III cars.
Oats ruled easier with other grains.
The market held fairly steady for q
time because there was a little pressure
from longs. The decidedly weak tone of
| wheat ana corn later, however, brought
out long stuff in considerable quantities,
end the close was weak September sold
stween 36$sc and 351a0353sc, and closed
lQ7sc down at 355sc. Receipts were 33'i
cars 3l4 of them new oats.
Provisions We're dull. A little support
from packers was sufficient to check
the declining tendency OF lard and ribs
but pork ruled weak The opening was
steady in sympathy with higher prices
at the yards, but the tone of the market
thereafter was easy under the influence
of surrounding weakness. September
pork closed 25c lower at 1880; September
lard a shade down at $S.721a, and Sep
tembcr ribs 5G7i2c down at S.971AGS.
Estimated receipts tomorrow: Wheat
135 cars; corn, 1i5 cars; oats, $50 cars;
hogs, p 900.
The leading futures ranged as follows:
open High. Low Close