The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-03-23
WHEAT PRICE NENI DOWN
sLAY OPTION SHOWS NET LOSS
AT THE CLOSE OF
- I-4q3-Sc
CORN AND OATS GAIN A SHADE
Trade in Provisions Very Irregular
May Pork Closed 35c Net Lower,
While Lard and Ribs
Both Advanced.
;oRN AND OATS GAIN A SHADE

CHICAGO, March 22.-Wheat was over
sold early today on bearish statistics,
and recovered on slight encouragement,
May closing only AQ$sc under yesterday,
after loss of &c early. Corn closed a
shade higher, and oats at a like advance.
Provisions were Irregular, May pork clos
ing with net decline of 35c. as a result
of renewed liquidation; while May ribs
advanced 12I2Q15c, and May lard 215c.
News at hand before the tap of the
opening gong was against bulls in wheat,
and May started out with a decline Of
jsGAc to 3s61ac, selling simultaneously
at 761sc and 757sc. Liverpool was easy,
and the war scare seemed to have be-
come thing of the past. Argentine
shipments were too heavy for comfort
for these who want to sell American
wheat in foreign markets. Northwest
receipts were liberal and the weather
was distinctly spring-fike. Discouraged
longs unloaGed liberal lines, and the bear
contingent cheerfully helped matters by
taking the short side. During the fore
noon May dropped to i513c. The scanti-
ness of Seaboard clearanceS and the lib
erality of receipts at primary points came
IN as additional beariSh factors during
the period Of bull discomfort. AT this
recession from Yesterdays level the mar
ket received good support. The cash sit
uation was reported improved, and the
Modern Miller said few gloomy words
concerning the ravages of HeSSian fly
This Is the season of the HeSSian fly s
Importance, and it developed that the
Shorts. Scampered :. to cover, and May
rallied to 76lsc, and closed steady at 1i0
sc under yesterday at 76c. Exporters re-
ported Is loads taken. Seaboard clear
ances in wheat and -four were equal to
5000 bu, while primary receipts aggre-
gated 1llO00 Blu, compared with 657 coo bu
last year. Minneapolis and Duluth re-
ported 433 cars, against 346 last week, and
$50. "a year cagOs Local receipts, w ere 80
cars Of contract grade. Argentine ship
ments last week, according to the Board
OF Trade cable, were LIE, 900 bu, COM
pared with l.24S,CO0 bu the previous week
and 1886, eco blu the corresponding week
last year. The Modern Miller said Hes
sian fly damage extended from Texas to
Michigan, and in some sections more to
the northern. In the southern section of
the winter wheat belt, the publication
announced, the fly and a small green in
sect are multiplying fast.
Corn opened easy. and declined early on
freer country offerings liberal receipts,
containing a good proportion of contract
grade, good weather, and in sympathy
with wheat, Support by a leading opera
tor however, checked any pronounced
weakness, A good outside demand sprang
up later on predictions of, unfavorable
weather, and the close was. firm. May
sold between 407sc and 412sQ15c closing
a shade higher at 41a@41$sc. Receipts
We're 221 cars, 81 of contract grade
oats were fairly active and firm, large
~ IN sympathy with corn, although yes
terday'S heavy shipments had a steady
ing effect and held the market in the face
of liberal selling by local interests. July
VAS refiectively firmer than May, the
ruling discount being 1zc. Receipts were
166 cars; May sold between 1880 and CSC.
and closed shade up at 247s@25c.
PROVISIONS We're very irregular, follow
lpg STEADY, opening on light hog re-
Sceipts. May pork opened unchanged to sc
higher at sl6.35016 49, and under realizfne
by longs dropped, during the first hour
to $3.50. The close was steady, 35c low
er, at SIG. On the other hand, May ribs
lz12q15c higher at $7921a May lard sold
between $50 and $780,, and closed PIC
higher at $3.50
The estimated receipts for tomorrow
aIe. wheat, cars; corn. 23O cars; oats.
l9o- cars; hogs, 16, 300 head.
IRe IcaQing futures ranged as follows: