The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-04-07
MAY CORN CORNER WAS WORKING
FULL TINE ON BOARD OF
TRADE
PRICE TOUCHED 447-S CENTS
Wheat, on the other Hand, S1umped
HeaviIy-Oats IA 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
ln, but the wheat market in contrast
succumbed to formidable array of bear
ish influences and closed 11ac under
Thursday. May pork at the close was
35c depressed, while lard and ribs each
showed loss Of 71ac.
MAY corn opened wild with bids rang
ing from A to 447sc, the highest price OF
the crop for delivery next month; THESE tse
close the previous session, and marked
complete recovery from the demora!izing
break of the first two sessions or 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 a few minutes
at the opening offerings We're light, but
they became freer soon. Longs, Fronting
by recent experience, realized that the
market still has two sides and took prof
it's. Shorts covered heavily, and absorbed
most of the offerings. so that market
yielded with the greatest stub6ornness.
Shortly before noon May touched 44c.
From this 1t 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 moderate de-
gree by the pronounced weakness of
wheat But sentiment which apparently
had returned to it's pristine bullishness in
the majority Of cases, was mainly re-
SponSible for the tone of the markets.
The pit was damned and despite the &C
Iivity 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-
ing, weaker as trading progressed and
weakest at the close. May opened I'M
changed at &c lower, at 7214c to re for
one brief moment supported by the corn
array of news offered anything but
cheer to holders. Argentine shipments
were 1888, 900 bushels, and Shows crop
report averred that in twenty years the
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 bearlsh statistics Mon
day. The lightness of Australian ship
ments and reports of sharp cash in
Quiry and heavy flour sales did little to
check the decline. Bears hammered the
market down to Tic during the first two
hours. At this point stop loss orders
were reached and a further slump to
at 70%c. Seaboard clearances in wheat
and flour were equal to $4,000 bushels,
while the primary receipts were S22, 0O0
bushels compared with 900 bushels
Iorted 4sS cars against 1863 last week and
1853 year ago. Local receipts were 155
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
heavy 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
shade higher at 255s@25$4c. Receipts were
SS1 ears
Provisions, especially pork, were easier
on liquidation. although there was moth
ing OF a particularly bearish character
apparent on the surface. Trade on the
whole was dull. May pork sold between
S2-22 and $14S2, and closed 35c lower at
Sl4.S5. May lard between S. 371a and Sc. 12IS
closed SIG down at $S.95, and May ribs
between $S171A and $S,1212, with the close
TIC depressed at $S.12%.
The estimated receipts Monday are:
Wheat, 80 cars; corn, IT'S cars: oats, 220
cars; hogs, 27,000 head
me leading futures ranged as follows: