The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-07-30
RAIN KNOCKS PRICES
SEPTEMBER WHEAT AT CHICAGO
SHOWS 4 DROP OF TWO CENTS
FROM SATURDAY
CORN BULLS ARE HARD HIT
Net Loss of I-2@2 5-Sc-Onts Are
Down / I-2GI 5-Sc-PrOvisiOns
Dull, the Close Showing
Little Change



December wheat. Minneapolis. 65& 6S1s
September wheat. Chicago &C.. .67$l 69$4
September wheat. New York...73A %
December wheat, New York .-I5A II
September wheat Duluth Ill GS's
September wheat, st. Louis .66A 6i9s
CHICAGO, July 2s.-With the drought
broken, the corn market today led
downward movement participated in by
the other cereals. Wheat with other
beariSh factors, contributing to the weak
ness closed 2 cents lower for September
delivery. september corn closed 212U2asc
down, and September oats 1i26lSsc de-
pressed. Provisions closed a trife higher,
except for lard.
In corn there was but one considera-
tion-rain. After weeks of contempla-
ton of a weather map. bearing no marks
OF rain. traders came into the pit belieV-
ing THAI fair part of the crop might be
saved, and proceeded Immediately to I'M
load their holdings with the result that
September was quoted simultaneously
from 52l2c TO SIC, or 1&sMl1ac to 2k0Sc
Under Yesterdays closing price. There
was little else to the trade save Hquida-
ton, which was continued with consider
able activity to noon, when there was a
pcrceptible decrease in the volume of Of
terings. The price was kept well under
53c al the session following the opening,
although there was a fair amount of COW
6rinS by traders who had the courage to
sell short when prices We're at their best.
During the afternoon September was
sharp rally to 52tsc. the tap of the gong
announcing the close found the market
weak and nervous September at 52zsc, a
net loss for the day of 21a025sc. Receipts
We're 2l6 cars
A potent combination worked to lower
wheat values and prices nearly all day
" ere close to the bottom level. The corn
break was, Of course. the chief factor,
but weak cables and hearsh statistics
formed an array almost equally weaken
ing. September opened &c to 1Ac lower
=
I'll the market, having experienced no
rally of consequence, touched Size This
was near the end of the session and re-
ports or export buying and an allegation
that hail and rain had injured the North
western crop created sufficient apprehen-
sion among shorts whose numbers had
been greatly augmented during the day,
To cause covering under which September
rallied TO 617sc. The close was weak, &c
net lower. at Csc. Exporters reported
thirty-four loads taken. SeabOard clear
anceS were 565 600 bu. while primary re-
ceiptS We're J. SOS 900 bu compared with l.
262 eco bu last year Local receipts were
2S5 cars, l36 of contract grade. Mime
apolis and Duluth reported 800 cars
against 404 last week and 270 a year ago
Worlds shipments last week were $4,000
bu. and the quantity on passage showed
an increase of 1892. coo bu The visible in
creased l,5S3 600 bu.
In the oats pit selling was on a heavy
scale Tor the country account, the In
uuence being the corn weakness Sep
TENDER opened from 33stc to BIC and al
most instantly reacted from the low point
to 33%c. Thereafter the market ranged
well under pc and closed weak. 11sGIl55c
lower at S25sc. Receipts were 240 cars.
Provisions were neglected. The opening
was easy on the heavy hog movement
but prices steadied later in buying for
packers. September pork closed sc high
er ct $14.20: September lard a shade
lower at $3.50 and September ribs un-
changed at S7.S7Jk.
The estimated receipts for tomorrow
are: Wheat, 40 cars; corn 30 cars: oats
$50 cars and 1890 head of hogs
Inc reading futures ranged as follows:
Omen fTJf~J, ! 7 .oxv fTS1o.o