The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-04-24
MAY FUTURE MADE A NEW CROP
RECORD, AND CLOSED Use
NET HIGHER
MADE A SHARP BREAK
Lost I-Sc on LiquidatiOn-Oats Lost
I-Sc, and Provisions, on
Dull Market, Dropped
I-295c to u lie.

- CHICAGO, April 23-May corn broke
the crop price record again today and
closed &c net higher. Wheat broke I'M
der liquidation. closing 11sc lower. Oats
closed sc down and provisions 21sQo to
121ac depressed.
Corn chung firmly to it's strong posi-
ton, and while tOdays trade probably
was less than Yesterdays in points of
thelesS quite active The motive for
speculative acts W9s that Of Yesterday,
namely. the concentration of long May
corn in the hands of George H. Philips
and his followers. The desire for profits,
which is always a factor, was gratifed
to a limited extent, but the basic
strength of the market was not impair
ed. At the opening longs offered liber-
ally. Sales were made simultaneously
from Acc to 4612c, compared with yester-
days close, at 1850. Offerings, both of
May and July, the latter being also in
excellent demand suddenly ceased and
both shot upward, May touching 47e,
making q new high record for the crop.
Realizing sent May back to 46c. but this
During the closing hour of the session
the wheat weakness caused some In
crease in the offerings by longs and May
worked down to 1880, but the close was
strong, 1sc over yesterday, at 461ac. July
sold between 443s@441ac and sS1tGs closing
&c lower, at 1850. Phillips WAS credited
with buying 100000 bu of July. His
purchases of May. although Appropriated
at S,000,GG0 or 10000, coo bu, were much less,
Receipts were 1872 cars, SO cars of con-
tract grade. Primes report of a bullish
situation in the country created consid-
cradle interest.
Much wheat with which bulls loaded
themselves yesterday was dumped back
into the pit today because Liverpool fail
ed to follow the advance on this side.
May opened 16c to &c lower. at nc to
721sc, and it took the combined influences
OF the corn strength, heavy seabord
clearances and confirmation of unfavora-
bic crop prospects in Prussia to get the
market up to f212c. AS the short inter
est was small and the cash demand
slack, while domestic crop advices were
as glowing as ever, longs sought to take
profits and in so doing broke May to71Ac.
The close was heavy, 11sc lower at 71$sc
Exporters reported "a loads taken. Sea-
beard Clearances in wheat and flour
receipts aggregated 36l, 900 blu. compared
with 351, G90 bu last year. Minneapolis
and Duluth reported q total of 1874 cars
against 800 cars last week and 3G4 cars a
year ago. Local receipts were los cars
none of contract grade.
oats opened steady and advanced ear
" in sympathy with corn, and although
the bulge was lost on profit-taking the
close was steady. A feature of the SEES
sion was the liberal scale on which a
local operator bought May and sold July,
the latter Eeing at 1kc discount at the
close. Receipts were 424 cars Nav sold
between zG4s and 25$4c and closed 1sc
lower. at .5AQ257sc.
market, caused the provisions list to
ease off. July pork closed PIE lower. at
S14.40; July lard, z1a@5c down, at $7.971h0
s. and July ribs, 214Q5c depressed, at
Si.S1zdE9e
The estimated receipts for tomorrow
are: Wheat, o cars; corn. IS cars; oats,
T. 145 cars ami q. 900 head of hogs.
Inc teadlng futures ranged as follows: