The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-04-08
ETAY CORN CORNER WAS WORKING
Full TIME ON BOARD OF
TRADE
PRICE TOUCHED 447-s CENTS
Wheat, on the Other Hand, SIumped
Heavily-Oats n Shade Higher
Provisions Lost Ground on
Liquidation.

CHICAGO, April 6.-Corn displayed
great activity and strength today and at
tanned new high price, May closing &c
higher. Oats in sympathy closed shade
up, but the wheat market, in contrast
succumbed to a formidable array OF bear
ish influences and closed l12c under
Thursday. May pork at the close was
35c depressed, while lard and ribs each
, showed a loss of 712c
May corn opened wild with bids rang
ing from A to 447sc, the highest price of
the crop for delivery next month. These
prices were &c to sc higher than the
: close the previous session, and marked q
break of the first two sessions Of the
week. Phillips, the bull leader, bought
moderately, for customers, and declared
that he sold nothing. The demand was
broad and heavy from country interests,
and at times frantic from local shorts.
The aggregate amount of the days trans
actions was enormous. For few minutes
at the opening Offe Ings were hight, put
they became freer soon. Longs, Fronting
by recent experience, realized that the
market still mas two sides and took prof.
its. Shorts covered heavily, and absorbed
ms st of the offerings, so that market
yieIded with the greatest StubbornneSS~
Shortly before noon May touched 44c:
From this it reacted to 401sQ4012c and
closed 7sc net higher at 441sc. The strong
opening was due to wet weather West
and to light country offerings, The re-
action was Influenced to a moderate de-
gree by the pronounced weakness of
wheat. But sentiment, which apparently
sshad returned to its pristine buiIishness in
the majority Of cases, was mainly re-
:, 'fise pit was jammed and despite the ac-
3ivity of wheat and oats, the: course
cereal held the speculative leadership Of
the flour Receipts for two days were
bis cars 107 of contract grade.
- The wheat market was a striking con-
trast to corn. 1t was easy at the open
ing. weaker as trading progressed and
weakest, at the close. May opened IN
changed at &c lower, at 7214c to re for
one brief moment supported by the corn
StTeng There was no cables, and the
cheer to holders. Argentine shipments
were 169S,OOO bushels, and Shows crop
report averred that in twenty years the
spring growth had never been better at
this season. The new century opens
quiet, said this report, with wheat In
unexcelled condition and an acreage the
largest on record Added to these was
the expectation Of bearish statistics Mon
day. The nghtness of Austr allan ship
ments and reports of sharp cash in
curry and heavy flour sales did little to
eheck the decline. Bears hammered the
market down to nc during the first two
hours. At this point stop loss orders
We're reached and further slump to
'709s@l03zc followed The close was weak
at F0a4c. Seaboard clearances in wheat
and flour were equal to $4,000 bushels
while the primary receipts were $4,000
bushels compared with 559, 600 bushels
last year. Minneapolis and Duluth re-
Ported 4SS cars against 1863 last week and
400 year ago. Local receipts were 1856
cars, of contract grade.
oats were handled in considerable GUAM
titles and the market showed an under
tone OF strength in sympathy with corn
end on the wet weather, which was said
to be delaying seeding. There was
Eeavy commission house demand as well
as covering by shorts while local longs
did most of the selling. The reaction fol-
lowing the opening bulge was in sym
pathy with wheat and corn. MAY sold
between 2G14c and 253sc, and closed a
shade. higher at 253s@25$4c. Receipts were
Isl cars
Provisions, especially pork, were easier
fn liquidation, although there was moth
ing Of particularly bearish character
apparent on the surface Trade on the
whole was dull. May pork sold between
[l5.29 and $l4S2, and CLOSED sc lower ct
fi4S5. May lard between $S.3712 and $6.121b.
fIosed 51@c down at $S.25, and May ribs
between sS.171h and $8.121z, with the close
NC depressed at $S1215
The estimated receipts Monday are:
Wheat, so cars: corn. IT'S cars: oats, 220
cars; hogs, 27,000 head
The. leading futures ranged as follows: