The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-03-13
Wheat SHOWED A LOSS
NOTWITHSTANDING GENERALLY
BULLISH ADVICES, MAY WENT
OFF THREE-EIGHTHS
OTHER FUTURES HELD FIRM
Corn Gained Five-SiXteenths, Oats
an Eighth, and Provisions
Went Up From Five to
Fifteen Cents.
OTHER FUTURES HELD FIRM

CHICAGO, March Fin the absence of
outside support the wheat market closed
with net decline Of sc today, While the
other leading speculative markets on
change held firm, corn closing 14G$sc,
oats 1sc and provisions 5Q15c higher.
May wheat opened 1sQ14c higher at
759sq75l2c under the short lived support
resultant to higher Liverpool cables and
the mildly bulliSh government report
made yesterday afternoon. There was
q fair amount of outside buying the first
few minutes, but the bulk of purchases
was made by local shorts 1t was soon
left to local bulls to take care Of the
market, and they proved unequal to the
task, although the bear pressure was at
Sidering the divergent views expressed by
leading traders the comparative inactfv-
ity of the market is a puzzle. The bull
arguments embracing recent reductions
in crop estimates for Argentine, Aus
tralia. France and in the Northwest are
answered by pointing to the fact that
May wheat is now Sc higher than it was
q year ago. 1t was this answer which
would appear from this view point that
any bull news concerning changed condf-
lions had been discounted months ago
The days receipts both in the North
west and including other primary points
were under last years and the fact that
this is the crop scare season, was made
prominent by damage claims from Ohio
and Indiana. The market, however,
without any particular pressure worked
off during the forenoon to 747sG75c. A
report of 100000 bushels sold here for
export and saabOard claims of 81 loads
taken for the other side, caused rally
to 75lsG75Hc, but this rally failed of sup
port, and the market reacted to 741sc
and closed easy, sc under yesterday at
zoe. Seaboard clearanceS in wheat and
flour were equal to $4,000 bushels,
while primary receipts We're 551, 600 COM
pared with $4,000 bushels last year.
Minneapolis and Duluth reported
IaS f
q year ago. Local receipts were Y cars,
three of contract grade. The worlds
visible decreased 504, 900 bushels. The
government statistical report of corn re-
serves was more bullish by comparison
than that of wheat and reflected in
heavy trade during the first hour to
trade in that cereal. Unsettled weather
also helped the bulls, but later the market
became more quiet and prices eased oft
on the improved grading Of receipts,
there being 81 cars of contract out Of
1876 cars received here today. Country
acceptanceS were reported light, while
shippers claimed their market was some
what improved. May sold between 4Ac
and 402sq407sc, closing A@ssc higher at
405sG41c.
Oats were somewhat affected by corn,
shorts covering under the influence of
that markets strength. On the whole
the market was a narrow one, lacking
speculative features. A good shipping
demand was reported, but the business
done was not given out. May oats open
ed at 243sd243zc, sold sparingly at 2l4c,
declined to 2412Q243sc, and closed &c
higher at 245s@2424c. Receipts were 3l9
cars.
Provisions We're firm without much be-
ing transacted. The strongest phase of
the market was near the close and it was
also the most active at that time. The
market was bare of offerings most of the
day. Near the end a little came out and
was quickly absorbed. May pork sold
between $14. S215 and $14.90 and closed 15c
higher at S1490; May lard closed sc up at
500 and May ribs TIC improved at $685..
The estimated receipts for tomorrow
are: Wheat, so cars; corn, 230 cars; oats,
$50 cars and $4,000 head of hogs.
The leading futures ranged as follows: