The Saint Paul globe., 1901-07-24
GRAIN PRICES FALL
SEPTEMBER CORN SHOWS A DE-
CLINE OF 2Q2 I-sc FROM
MONDAYS CLOSE
=
WHEAT WENT OFF HEAVILY
Net Loss Is 4 I-Sc-Oats Closed 3-Se
LOwer-PrOvisiOns Shade
Higher to Zoe
Lower.
WHEAT WENT OFF HEAVILY
Closing

s. CHICAGO. July o. - Liquidation by
FpSramid builders" was the feature or
the grain trade today, September wheat,
corn and oats closing at declines of 20
21sc, 4lbc and 2%sc respectively The tone
Gwas that of nervous excitement. Pro
visions closed a shade higher 10 l0c
lower
! In corn speculative interest centered as
Usual Before the opening Kansas City
irepOrLed scarcely more than trace OF
brain. Feeling, however, was at Such q
nervous tension that it threw thi,t por
tion of the long interest dealing on small
margins INTO semi-pauic. At the tap of
the opening gong September was for
sale from 59e to sac, the latter figure
tbeing 412c under yesterdays close. This
slump uncovered stop-loss orders which
S'pyramid builders" had put back of
,their purchases, and the decline did not
stop until September was quoted at
I5412c. 1t had taken but a few minutes
in the runaway market to send prices
down and a recovery to 575sc followed
almost as quickly on the weather map
(which came out as dry as heretofore
tand promised no relief. Liquidation,
however, continued, as there were not
hNantlng reports claiming that when the
excitement shall have ended it Will be
Found that from one-third to one-half
lthe crops said to have been wiped out
IhaVe been saved. Even these optimists,
however were compelled to admit that
ttheir hopes were based on immediate
brains. September during the afternoon
tdeclned to 55lsc and closed weak and 41sc
49,
}-oars.
4 For the wheat decline there was more
treason in a statistical way than in corn.
ECables We're disappointing, receipts
theavy and a vastly more favorable
prospect reported from the spring wheat
country. For the Dakotas and Minnesota
There were indications of rain. Reports
lclaimed damages in some instances run
lining from to 10 per cent while one
wire was to the effect that the spring
icrop may turn out to be a bumper
Padded to these influences was the corn
sdecline. September opened 3s61Ssc low
er at 12Qtic, longs eXcitedly selling. The
Edecline continued to 109sc, where local
support caused sharp rally to 72c. Later
lthlS support ceased and under continued
liquidation September worked down to
t70Ac and closed 21s02Ac under yester-
day at 70ssc. Local receipts We're So
cars, asainSt 2S4 year ago. Northwest
ireceipts were 225 cars, against 290 cars
last week and 226 a year ago Primary
receipts were $4,000 bu, compared with
lT2l, 900 bu a year ago, Seaboard clear
iances were equal to 553, 900 bu Exporters
reported eight loads taken.
: oats active, declining in sympathy with
corn. Country selling of recent purchases
was the feature. There was considera Bile
llocal support early and after the open
ing decline prices reacted. Eater, how
feVer, the tone became easier again. Sep
ltember sold between 3Se and 35c and
were li5 cars.
r Provisions were dull, but faiCly steady
considering the decline in the grain mar
Lkets September pork closed 1Oc lower
at Sl4.4Ih; September lard a shade high
ter at sS.70dS7212, and September ribs
2l2c down at $751;.
The estimated receipts for tomorrow
are: Wheat 215 cars; corn, l7O cars;
oats, 40 cars and $4,000 head of hogs
The leading futures ranged as follows: