The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-06-05
PRICE OF JULY AT ONE THE
TOUCHED 20 Bic, LATER
GOING OFF &c
CLOSE AT a LOSS OF 1@1 1-Sc
Corn and Oats Lost 5-S@3-4c and
Lie Respectively - Provisions
Quiet, Closing Unchanged
10 I-2c Lower
Closing.

CHICAGO, June 4.-Liquidation was
the feature today in wheat July closed
weak and l@115c lower, after covering on
a range of 43sc. Corn closed 5s@&c lower
and July oats Nc lever. Provisions clos
ed unchanged to 212c lower.
There was another exciting session,
with an extremely large volume of bust
ness i'll the wheat pit. The remarkable
strength which characterized the market
yesterday was maintained for a pyro-
technical advance, which was followed by
q decline which was quite as sensational
July opened 1s4AC to 19sG1Ac higher at
7SQ791ac, under conditions strongly faV-
Oring the bears. There were good rains
in the West and Northwest and every
thing but wheat responded to this In
fuence at the opening. Hardly recover
ed from their shock Of yesterday the
spectators We're loath to believe the
showers would depress the market and,
rushing in their buying orders in such
confusion that business could hardly be
transacted, they ran the price up to 79%c,
within few minutes after the opening.
Shorts were there fed with long stuff
put out by the commission houses, which
bid up the price yesterday and when
the source of the supply became known
there was a general rush to unload The
force of fresh reports of general copiouS
rains in the DakotaS, Nebraska and
Kansas and other localities and the enor-
nous offerings by commission houses, the
market reacted inStantaneOuSlY. With
in hour July wheat was selling at 753sc,
the low price of the day. The bulls took
44GSlA COuIdSt Oil tie ucClllle anu Ielpeu
by shorts taking profits on the handsome
turn, rushed the price back to T71sc The
close was weak, however, and 1Q1Ac
lower at 76$4c Seaboard clearances of
wheat and flour were equal to $4,000
bu. Ten loads were reported taken
for export. Primary receipts were $4,000
bu Chicago contract stocks de-
crease e39COO blu. Minneapolis and
Duluth reported 1923 cars, against 19S cars
last week and 554 a year ago. Local re-
ceipts were ia cars, four OF contract
grade.
Corn was dull and heavy. Rains in the
corn belt had bearish effect. July sold
between 414c and 441hc and closed 5s@%c
lower at 44AQ443sc. Local receipts were
CAB cars 63 of contract grade.
Oats had a downward tendency with the
other cereals, influenced like corn by
the heavy rains in Nebraska, but also
by the increase in the local stocks rather
heavy selling by longs. July sold be-
tween 2S14c and 2S$sc, closed &c lower at
2SHc. Local receipts were 434 cars.
The provision market was quiet open
ing higher and with some show of
strength, on better prices for hogs. but
weakening later with the grains. July
pork sold between $14T71h and $l465 and
closed 112c lower at $14521&; July lard
sold between $S.15 and $S.221@, closing nm
changed; July ribs sold between S7,S2E@
7S5 and 1872 and closed a shade lower
at the bottom price.
The estimated receipts for tomorrow
rae: Wheat. So cars; corn $50 cars; oats
go cars and 5000 head Of hogs.
The leading futures ranged as follows: