The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-08-06
ALL GRAINS SELL OFF
PERFECT HARVESTING WEATHER
ONE CAUSE OF THE SLUMP
Heavy Receipts Also Aid the Depression
Large Sales of Corn Result in a Drop of
over Cent BusheI-Provisions Close
Higher All Around.

CHICAGO, Aug. 5.-Grains were heavy
today and prices declined sharply. Sep
TEMPER wheat depressed by almost per-
rect harvesting weather in the spring
wheat country and by very heavy receipts
dropped to the lowest price so far this
season Corn also ruled very weak on
heavy selling, Notwithstanding receipts
were falling off greatly. At the close of
trade September wheat had lost p mMc;
september corn 1as W1hc, and September
higher
Wheat momentarily showed good front
at the opening of trade. Cables were firm,
grading was very, poor and there. were
rains in the Western states and in the
Ohio valley. September started &c up to
1sc down, at 70@68%c and sold at 70kc.
Soon, however the perfect weather North
west began to have decidedly bearish eff
feet on the crowd. Receipts in the South
west were large, and at primary points
totaied much above last year. This start
cd free selling, and September dropped
to the low level for the crop, 69c. Brad
streets reported decrease of 2,152, 900 bu
IN the worlds visible supply, and the sea-
wheat and -four These factors had
checking influence on the decline but the
| close was weak and heavy, September q
@Nc down, at 69Bc.
FaIs Business at Seaboard.
The seaboard did fair business The
volume of trade here was not large, and
was mostly of prof /,ionaI character. Lo-
cal receipts were 546 cars, of contract
grade; Minneapolis and Duluth reported
II3 cars, making total for the three
and $50 year ago. Primary receipts
were l.295,000 blu, against 901, 900 blu last
year. The seaboard reported 80 loads tax
en- for export.
Corn receipts here today were only 60
cars and estimates for tomorrow but 25
cars For moment prices in this pit
edged above the closing figure. of yester-
day, but bulllsh statistics could not over
come the decidedly bearish sentiment of
the crowd. Heavy selling of September
shortly after the opening caused the
slump. Offerings came out abundantly and
there was no let-up to the pressure until
September had dropped from 571s to
55sc. The big interests identified with
the free selling of the last several days
were in the pit selling. In the absence
of anything that resembled support no
one wanted the corn. Stop-Ioss orders
came out and helped i'll the decline. Liv-
erpool was strong, and as much as &c
higher, but exerted no influence. AT the
bottom there was some buying by COM
mission houses and by shorts who COW
cred. This brought a slight rally, but
September closed very weak tx D1kc
down, at 55Bc. The weather West while
rainy, was considered favorable to the
growth of the crop.
Oats Down Also.
Oats held up we'll against the depres-
dip early and again late, influenced by
liberal receipts and the corn break but
the weather was against the oats harvests
and reduced estimates of arrivals check
ed and sympathetic declines of moment
The cash demand also was fair. Septem-
Der sold from 327A @325sc to 31Ac and
closed easy, II @asc down, at 31B @32c.
Receipts were 316 cars.
Provisions We're quiet but somewhat
irregular Hogs at the yards were weak
er for poor grades and higher for the
best. Early liquidation depressed prod
ucts, but good Milwaukee support
brought brace in the market and ev-
erything advanced. September pork
21ac higher, at $10.85, and September
ribs TIC advanced, at $10.471z.
The estimated receipts for tomorrow
are: Wheat, $50 cars; corn, % cars; oats,
IS cars. and p, 900 head Of hogs.
The leading futures rnged as follows: