The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-03-09
BEARISH OPENING IN HOARD OF
TRADE SUCCEEDED BY
STRENGTH LATER
WHEAT CLOSED 1-4c HIGHER
Corn and Oats Also Gained Frac-
tiOnaIy, and Provisions Showed
Advances at the Close of
I-2-5c to 81 lie.

CHICAGO, March S.-Weakness char
Rcterized the grain markets during the
forenoon today, but this was followed by
q rally later under the leadership of corn.
Wheat closed 14c, corn, 12q9sc and oats,
]kQ12c higher, while pork showed net
advance for the day of 3112c; lard, 212Q5c
and ribs, 5Q712c.
looked bearish; Liverpool reflected the
slump here yesterday; Argentine ship
ments were liberal and Northwest re-
ceipts considerably larger than they
were the same day last week. The
weather was mild and moist, but at
this season of the year prospects of a
freeze may be taken as almost assured,
hence the weather, if anything, was bull
lish. This had some influence in holding
the market at the beginning, although
one bull leader and handful OF FOL
lowers were opposed by the great ma
jority of the pit traders. May opened
shade lower TO 1sQAc higher at 75c to
75hQ75Ac. The meager crowd OF defen-
ders OF the price was swept away by
force of numbers and the market was
pounded down to 749sQ7434c. The decline
caught stop orders under 75c all of which
assisted the market along on the down.
ward path. Meanwhile the little clique
of bulls was still fighting. Corn at this
period was developing considerable
strength which came into the wheat pit
as a much needed reinforcement. The
shipping business also shows improve
ment, while exporters reported THAT they
days past Shorts became alarmed, but
found the market bare Of offerings. May
rallied to 1880 and closed &c higher at
ISL 0753sc Exporters reported thirty
loads taken while Seaboard clearanceS
in wheat and flour were equal to l96,OJ0
bushels Primary receipts aggregated
652 600 bushels, compared with 6O2, O0O
bushels last wear Minneapolis and Du-
Iuth reported 424 cars, against 81 last
week and SIS a lear ago Local receipts
were al cars, none or contract craze.
Local cash sales were 100000 bushels.
The boards figures made the weeks Ar
gentine shipments 1,6G5, coo bushels,
against 324, coo bushels the previous week
and 5, 252, COO bushels a year ago.
Corn was moderately active and gen
orally steady, even when wheat was at
its worst There was a fair outside de-
mRnd at the opening, rejecting the IN
jls=y which the present weather is DONG
to the roads. With the cessation OF out
side demand, offerings also ceased and
later when the demand was renewed pit
shorts ran the price up rapidly and the
close was firm with yesterdays decline
reached a total of 200, OO0 bushels; May
sold between 4O3sQ4l1sc and closed 12Q2sc
higher at Ale. Receipts were S25 cars,
none of contract grade.
Oats, like corn, turned upon its pur-
suers and had shorts on the defensive
most of the time, with the best prices
prevailing near the end. There was 1a1r
shipping inquiry, but the business ac-
connpiished was rather light. Receipts
we're 205 cars. May sold between 247sc
and 251sc and closed 18@lc higher at
G5@251sc In the provision p May pork
was the admired object of SPECTATORS,
especially Of shorts. The market f0r TINS
product opened at &C higher at $!4.at12 anu
was bid sharply to s14.9U, at which ngure
it closed, Tl1ac over yesterday. PACK
ers were the best buyers of lard and ribs;
Nav lard sold between $7.55 and $3.50 and
closed 2i50b5c higher at 81 ,5712, and May
ribs between $7.2215 and $.25, closing
EdI15c up, at $7.25.
The estimated receipts fer tomorrow
are: Wheat, 10 cars; corn. C0) cars; oats,
$40 cars and 5000 head OF hogs.
rr,l,o londincr ft1t11res ranged as follows