The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-03-31
HEAVY Trading N CORN
BROKERS FALL OVER EACH OTHER
TRYING TO BUY THE
MAY CORN
PRICE ADVANCED 5-S AND SAC
Oats Also Active and Higher-Wheat
Neglected, Closing an Fig nth
Depressed - Provisions
II 1-2c to soc Up.
PRICE ADVANCED So AND SAC

CHICAGO, March 30.-Carricd upward
by the bulhshnesS of almost the entire
West, the corn today continued on its
record breaking career. Inc volume of
business was larger than any previous
day this week. May closed 2s0&4c over
yesterday Oats were also conSplcuouSly
active, May closing with a net ADVANCE
of 6sc. Wheat Ruled dull, and at the
close was 1sc lower. Provisions adj
Yanced 1215020c.
Trade in corn for May delivery became
active at the tap of the opening gong.
Within half an hour it had assumed vast
proportions. Half of the wheat traders
had deserted to it and many traders were
crowded out of bounds at times. George
H. Phillips, generally admitted to be the
bull leader, took profits on scale ap-
preaching his operations of Yesterday,
yet so excited was the trade that he was
no more conspicuous than many others
Yet in the face of his sales and that
OF certain conservative longs, the mar
ket swept upward irresistibly May
opened 14G$sc higher at AS to 44Ac,
and touched 44c ne buying craze was
on, however and it struck this slight
dip in full force. May corn was bought
and sold in such quantities and with
such rapidlUy ny the whole that IN
dlviiual trades were lost to view. The
market bounded to 4424c in the next
price record for the seasons trade in
May options. The remainder of the sea-
son it was give and take between
the big demand and offerings from
riched longs. May was forced back to
1850, but held strong and closed 9s@%c
Ger yesterday at 441h@4isc. Corn for
July delivery. meanwhile dropped from a
shade to sc discount under May through
Changing operations. The routine
corn news was bullish. Gables were
higher. country acceptances small and
the weather was decidedly unfavorable to
larger deliveries. Primary receipts were
&3UeO bushels, compared with $4,000 bush
els last year Local fresh arrivals were
i56 cars thirty-siX of contract grade
In activity and strength the oats was
second to corn. This market, ordinarily
neglected. made the wheat pit look dis
pal. There was heavy buying for the
pull leaders in corn, presumably on the
theory that oats were cheap compared
with corn. The recent heavy cash bust
Aess and reports of diminishing stocks
were contributory factors, although to-
nays advance cut shipping sales down
% about 100000 bushels. Some of the
Did bull crowd who have been carrying
load of oats for weeks in the face Of
stagnant business, took advantage of the
advance to case the pressure of their
leads. May opened at 257sGl26c touched
s5Ac, and later rallied to 265sc closing
BC higher at 263sc. Receipts were 21
ears
Those who remained faithful to the
wheat pit were bearish, and had it not
been for the corn strength. it is highly
probable the market would have declined
Trade was light and the range narrow,
May opened q to 1s@Ac lower at 761sc to
561kc, and sold off to 76c on heavy Aus
tralian shipments and favorable wealth
er. In sympathy with corn, a reaction
to 1850, but despite late assurances of
export inquiry the market eased off and
closed &c under yesterday at 1889 Pr-
mary receipts were $4,000 bushels, com
pared with 100000 bushels last year, while
seaboard clearanceS in wheat and flour
We're equal to $4,000 bushels Local re-
ceipts Were Al cars 4 of contract grade
Minneapolis and Duluth reported 1888
cars, against 4S3 last week and 437 a year
ago. Australian shipments were 1,O64 coo
bushels, and it was predicted that world 8
shipments would be 100000.
Light hog receipts, the corn strength
and an advance in prices at the stock
yards were reflected in higher prices for
provisions. Pork was comparatively dull.
but there was. good speculative demand
for lard and ribs, while the cash situation
continued highly satisfactory to holders
May pork sold between 1888 and $15. 6215
and closed zee over Yesterday at $3.50:
May lard between $50 and 49, 21A, closing
1213@15c higher at $S.221s, and May ribs
between $500 and So .151a, with the close
12lkc improved at SS.1215
The estimated receipts for Monday
were: Wheat so cars: corn. les cars; oats,
200 cars. and 2S00O head of hogs
The leading futures ranged as follows:
Open-lT High Low ing.