The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-03-21
MAY WHEAT AT CHICAGO SHOWS A
Me- GAIN OF 13-16c FROM
TUESDAYS CLOSE
LOOKS LIKE CORNER IN PORK
Frightened Shorts Bid the Price for
May Up to $1,000, and the Close
Was at the High
Mark.

CHICAGO. March 2O-Rumors of
clash between English and Russian troops
alarmed wheat shorts today and contrib
uted to the strength engendered by other
bullish news, May closing Aqtec hlgheT.
A sharp advance in May pork, which
closed 6212c, over yesterday, was feat
ure of the Gay on change. Corn closed
unchanged, oats a shade higher and lard
and ribs 5Q719c improved.
Irregularity and nervous excitement
characterized the wheat market all day.
May opened Ss@1Ac higher at 76isc to
765sc, mainly under pressure from shorts,
whose fears were aroused by the stead
mess of Liverpool cables, by cold wealth
er and the small total Of Northwest re-
ceipts. Long wheat, mostly from scalp
ers, came out in sympathy with the east
ness in corn, and May reacted to 76Ac on
a duh market. On rumors of clash in
China, the market quickly rallied to f6f4c
and reacted to 7612c. Shorts found the
market bare of offerings, however, and
their efforts to cover caused another adj
this bulge and sent it back to 7612c
where it steadied on light primary re-
ceipts. an improved export demand for
both flour and wheat, drop Of 19 points
a Texas report that the crop had been
almost completely destroyed by fly. A
drop in consols during the afternoon
caused further apprehension, and the
market became aggreSSiVely bulliSh, May
advancing to TIC. Profit-taking caused
small. recession, but the close was
strong, A@3sc higher at 76B07Te. New
York exporters reported 10 loads taken.
Seaboard clearances in wheat and flour
Were eqgal to 27S,000 bn, while primary re-
iee1ptS reached a total of 5S5,0S5 bu,ecoTl-
pared with 100000 bu last year. Minneap-
OILS and Duluth reported rs cars. against
327 last week and 554 a. year ago. Local
receipts were 81 caIS, none of contract
grade.
Corn responded very feebly to the spirit
of the wheat market at the opening The
weather was regarded as bearish, and, as
receipts continued to show Improvement
in grade, and there were indications of
freer movement from the country in the
near future, the market eased off dur
ing the forenoon, some stop-loss orders
coming out. Aggressive bullishness of
the wheat market later alarmed a sufii-
Gent number of shorts to cause a re-
covery, but not to the best price of the
day. May sold between 41Bc and 41h61
A2sc, and closed unchanged at Also. Re
ceiptS Were Z52 cars, So Of contract grade
New York reported 80 loads taken for ex-
Port, but none was reported here.
oats were dull and governed by corn
May sold between 251sI2514c and CSC. and
closed shade higher at 25kc Reeefpts
were 164 cars
Small receipts of hogs and higher prices
Tor them gave bullish tone to the pro-
VISIONS market, where further rise &C.
Cured with the consequent establishment
OF a new hlgh-prtee record for the season
FORK, which was far and away the feat.
ure of the day, was wanted but there
was scarcely any on the market, save
when shorts raised their bids to a
marked degree May pork opened at
SIG. 5C916.55. and advanced early to SIG 90
Even at this price offerings were far from
liberal, and the demand from shorts was
so urgent that only small recessions &C.
cured during the remainder of the SEES
sion, leaving the close 6215c over yester-
day, at $3.50. A good cash demand con.
trfbuted to the advance in futures Lard
and ribs were more quiet, but firm May
lard sold between 81. S21b and 81 .S5G7. 87I5
closing DC higher at 81 6567. S71s, ana Nav
ribs between E.67h and $7.721b, with the
close 71.c improved at $40
The estimated receipts for tomorrow
are: Wheat, IS cars; corn. go cars; oats
49, cars, and 10000 head of hogs
The leading futures range as follows.