The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-03-08
GRAINS WERE I'LL WEAK
BEARHSH INFLUENCES PREDOM1-
MATED, FOLLOWING WEAK
NESS IN OATS
WHEAT DECLINED 1-2e TO 5-8e
Corn Lost 3-Sc and Oats I-2c-PrO-
visions, on the Other Hand,
Were Strong, Closing
I-2c to SOC Higher.
WHEAT DECLINED 1-2e TO 5-S'

CHICAGO, March Leading specula-
tive grain options were handled on a de-
Ginning market today in conspicuous con-
trast to the strength of hog products.
The cereal slump was precipitated by
weakness in oats, wheat closing 1aQ3sc:
corn sc and oats 72c lower. Pork closed
soc, lard 719c and ribs 712Q1Oc higher.
Opening transactions in wheat We're "a
0akc lower at 1850 to 75zc for May de-
livery, under variety of bearish tnf1u-
ences Liverpool was depressed, North
western receipts were liberal and the
weather was of a mild character calcu-
lated to Stifie crop damage reports. y
publication devoted to the fortunes or
crops admitted that wheat had passed
through trying weather, but aVerred that
it is doubtful If any harm has been
done Commission houses sold heavily
and during the first half hour the mar
ket was pounded to 751sqT514c. Then the
market became dull and under local buy
Ing much of it covering shorts, reacted to
7515c. A report that some wheat had
been sold direct to Hamburg helped the
market at this time. Meanwhile there
was some activity in July wheat which
increased its discount under May to BQlc
under May. During the afternoon the
pronounced weakness of corn and oats
and the diScouraging export situation
awoke the bears to possibilities of the
situation and the market declined with
some celebrity to T5c and closed weak, 10
5sc lower at 75q75i@c. Exporters report
ed IS loads taken. Seaboard clearanceS
In wheat and flour were equal to 389 900
bu. while primary receipts were 587 eco
bu, compared with Gas, 900 bu last year.
Minneapolis and Duluth reported Al cars.
against 2S2 cars last week and 524 cars
q year ago. Local receipts were 43 cars,
B OF contract grade.
Corn opened weak on freer country Of
feringS, liberal receipts and slack ship
ping situation. An estimate placing the
amount of corn in farmers hands at $780,
D0OO GOO bu. compared with 773 100000 bu
at the corresponding time year ago,
was also depressing, although it was
nothing more serious than guess. The
provisions strength and the reported en-
Eagement of 81 loads for export, steadted
the market near the close. May sold
between 4OMc and 401z9403sc.- and closed
SIC lower at 403sG4012c. Receipts We're 330
cars, I Of contract grade.
Oats led in the weakness of the grain
markets. Heavy lots of long oats from
holders tired of the featureIess market,
formed the bulk of the offerings. The
market Steadied and recovered fraction
ally near the close on profit-taking by
shorts. May sold between 251sQ2Ac and
245sc, and closed 14c lower at A1sc. Re
ceipts were 155 cars.
Provisions were active and strong. The
market opened at small advance De
cause of a light run on hogs, and ad-
vanced sharply on buying by an inf1u-
innate bought 5000 bbls OF pork and
100000 lbs of ribs during the day. Other
PACKERS also bought. while scalpers sold
OH the advance. The close was strong:
May pork sold between Sl4-25 and $3.50,
and closed Soc higher at S145215; May
lard between $3.50 and $7.5712, closing TIC
up at S752156T.55. and May ribs between
S71215 and $7.2G17. 2252, with the close ~
@10c up at $.1712G7.20.
The estimated receipts for tomorrow
are: Wheat, 50 cars; corn, 295 cars; oats,
2U5 cars and % 600 head of hogs.
The leading futures ranged as follows: