The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-02-06
BUYERS OFF THE MARKET
LACK OF DEMAND ON BOARD OF
TRADE SENT WHEAT PRICE
DOWN
MAY DROPPED FIVE-EIGHTHs
Oats Furnished the Most Activity,
Closing n Shade Up, While Corn
and Provisions Roth
Closed Lower.
MAY DROPPED FIvE-EIGHTHs

CHICAGO, Feb. with the execution
oil oats, the leading speculative markets
OF the board OF trade We're dull today
The very light demand discouraged hold
.orS Of wheat and the market declined &c
Corn closed a shade lower, and oats a
shade up. Provisions We're 2l6GJ5c lower
Wheat was dull to the point OF stagna-
ton all day, for although the decline in
prices, which was the net result of the
days prices, caused sensible decrease
in the amount of business the best trade
OF the day could not be called consequent
tlaL The very dizziness initiated against
the maintenance of prices. Holders dis
couraged hy the inanimation of tho mar
ket, Hqulddted in sheer disgust The
readiness of the market to. respond TO
even the smallest encouragement was
shown At the opening. May started cut
33SQAc higher at 759Sc to 753sQ17512c, merely
because Liverpool, which has been in
different alike to our declines and our
advances, failed to reflect the Grop here
yesterday, and because Northwestern ar
rivals We're moderate. The market touch
ed t512c, but driblets. of long Stuff began
To come cut, some for New York some
for the foreign account, and more from
lc|al ScalperS. May gradually worked
off to 75c where SOmeth hing of a surprise
as in store for the talent Selling on
Stop-loSS orders lad been expected at
that point, but instead of these the ma
Jolity of the commission houses had
small purchases to make. This Steadied
the market for a few minutes, but the
close was heavy. May 3sc under the pre-
1ment after the opening was shown TO q
degree by the way the export engage
lnents OF thirty three loads were ignored
although reports of the prospective clos
ing of certain Minneapolis -four mills
were on httINd at that tune as a counter
nritant, Consul Mayor. Ruenos
Ayres, reported that Argentine crop pros
poets, indicated an exportabla- surplus of
only AZ, C0O, zoo -bu, and the weather in thar
country IS HufaV0Table tothe crop. Sea
board clFarances 2Z9,OO0 blu in wheat and
liz inc
mary receipts aggregated $4,000 bJr, COM
pared wigh 410,G00 bu the ike day last
year. Local receipts were thirty cars,
one OF contract grade, while Minneapolis
and Duluth reported 2S3 cars, against $50
last week. and 403 a year ago.
Corn suffered from neglect, but never
thelesS maintained a nrm front Light
country &cceptances and moderate re-
ceipts, 40S ars; combined with the con,
tlnued ToCr grading, were responsible for
the Stcadlness. May sold between 391sc
39lZc. $500 80
Oats were fairly active and firm, the
feature of tie trade being the Large
number of buying orders around 253Sc
The market opened a shade up on an
active general demand. bid of 251sc
Tor 10,C0G bu, however, brought out not
only the entire amount wanted, but
50 much more that it looked as Il the
whole crop was for sale. The secret Of
the, markets. strength lay in the active
cash demand. May SOLD between 25l4c
and 25l@c, and closed a shade higher at
z5@c. Receipts were 22S cars.
Provisions were fiat. The opening was
PIC lower under the influence of heavy
hog receipts and q drop in prices at the
stock yards. a little buying caused a
sma'l. rally, but prices settled back later,
packers having taken advantage OF the
nc lower, at $13971a; May lard sc down,
at 1872, and May ribs 212@5c depressed
at S6.9Tl5.
Estimated receipts for tomorrow are:
cars: hogs, 3S,00G head
The Leading futures ranged as follows: