The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-09-12
STRONG GRAIN ADVANCE
WHEAT LEADS AND BUSINESS Is
ACTIVE ALL AROUND
Government Estimate Of Yields Far
Short of Expectations Arouses the
Trade Thoroughly-NearIy ALL Glass
es of Traders Numbered in the Buy
ing Crowd.

CHICAGO, Sept 11-Wheat led all
grains in strong advance today. Bust
ness was active all around and the
trade was thoroughly aroused by the
government estimate of grain yields
much below expectations, nearly every
other influence was in some measure
bullish, especially the threatened dam
age to unripe corn by frosts. AS a re-
suit OF these factors everything on the
list closed with gains, September wheat
l5sc higher, December wheat 1@1Ac,
corn II C advanced, and December oats
A@Ac higher January provisions
closed 77A @10c to 1914 @15c higher. :
The government figures on the
spring and winter wheat reports over
Swallowed every other matter for con-
sideration in the wheat pit. In gen.
eral way the trade was surprised at
the condition of 80 as made by the
government bureau report. AS a re-
suit nearly all classes of traders were
included in the buying crowd At the
outside there was a big business. Lib
eral selling was done only by outside
longs, who wanted to take profits.
Soon, however, this same crowd began
buying in again, thus further contrib
uting to the strength of the cereal.
There was some selling by a leading
elevator, but little attention was paid
to this movement. Commission people
generally had good buying orders.
Everything Helps in Upturn.
Almost everything helped in the up
turn. Cables were higher, cash mar
kets were strong, receipts were small
and clearances were large. Duluth re-
ported an excellent export demand,
with II loads shipped direct last night
and this morning. The only check to
the bullish enthusiasm was the some
what improved Northwestern receipts.
There were some dull spots in the ses-
sion, but, taken as a whole, it was the
largest days business in some time.
December wheat started sc to &c up
at 68Ac to CSC, sold to 691ac and closed
strong, 1919 up at 69s @691ac. Sep
TENDER sold from 72%c to 1890, and
closed strong at 1 hc up at 1870. Lo-
cal receipts were 1873 cars, none of con-
tract grade; Minneapolis and Duluth
reported 642 cars, making total for
the three points of $50 cars, against
GIL last week, and 954 year ago. Pri-
mary receipts were 1,066,000 bu, COM
pared with 1,495,000 bu last year. Sea-
board clearanceS in wheat and flour
equaled $4,000 blu. New York reported
10 loads taken for export.
Corn experienced good share of
the strength with which the markets
opened. Most of the bulge was at
tributed to the fear of frosts in the
corn not yet harvested. Light frostS
were reported in several sections and
very heavy frosts Northwest. A high
barometer in the Northwest seemed to
indicate possible heavy damage to corn
before morning. This was something
of an early incentive to the bulls, espe-
cially when considered with decrease
of 100000 blu in the prospective yield
as compared with August estimates.
The country accepted only few bids
over night, the cash demand was fair,
cables were firm, and there was prac-
tically nothing in the way of selling
pressure. Traders were principally
engrossed, however, in the considera-
ton of that part of the government re-
port which stated that while big
yield as compared to an average year
was estimated, yet this yield was con-
tingent wholly upon good weather so
late was the crop in maturing.
More Frost Predictions.
With predictions for frosts over all
the West and Northwest tonight the
fairly liberal realizing that took place
on the upturn was soon offset and the
close was strong. September sold from
ssh C to a close sc up at 59%c. De-
cember sold from 43Nc to 1870, and
closed &c higher at 1875 @43%. Re-
ceipts were improving somewhat at
primary points. Locally today they
were 139 cars.
Oats syrnpathized with other grains
and ruled stronger. The influences
were continued small receipts, mod
erately bullish government report,
weather conditions, light offerings and
poor grading. Sentiment generally was
bullish. Trade was not large. Deem
Der sold from 31ss @31hc to 31%c, and
closed firm, 1s@Ac up at 31%c. Re-
ceipts were $50 cars.
Provisions were dull in comparison
to the good trade in grain. There was
a fair early demand on firm hog mar
ket and prices advanced. Grain also
helped in slight upturn, but the in
activity Of trade did not permit Of
great strength. January pork closed
1914 @15c UP at $15@15.02za; January
lard, 10c higher at $S.471s, and Janu-
airy ribs 7h@10c higher at $1,000
1921. Estimated receipts for tomor-
row: Wheat, 255 cars: corn, ITO cars;
oats, 205 cars; hogs, $4,000 head.
The leading futures ranged as follows: