The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-08-19

CHICAGO, Aug 1S.-Grains had an
elusive bull turn today. All pits ex-
perlenced good early action, with
strong up-turns on fears of frosts in
the Northwest, flooding rains in the
Iowa cornfields, and general poor grad
ing. Prices were bid up sharply, but
the unexpected strength was soon lost
when holders turned to sell in the
somewhat narrow markets. At the
close September wheat was &c lower,
September corn % higher and Sep
terber oats shade up. September
provisions closed 212c to sc higher
Wheat started firm. Conditions in
favorable for the maturing wheat.
There was too much moisture, and
even frosts were feared. England had
pad weather and sent over COMPARE
lively firm cables. There also was d
decrease of 100000 bushels in the
visible supply and a marked falling
Off in worlds shipments. The fair
early advance was something of sur
prise, 1nasmuch as the accommodations
from heavy receipts over Sunday were
expected to bear the market
Sharp Slump Comes.
Outside markets, however, started
Wen up and September, somewhat
sympatheticalfy, opened a shade to IL
@ Nc higher at 70@70Ac and sold to
0Rc- A selling movement, augmented
Dy unloading by manipuiators of the
September-Decem spread, brought
sharp slum. The fact that the sea-
board cleared 1,028,000 bushels in
wheat and flour did not stay the down
slide. Estimates for tomorrow's re-
ce1pts at 465 cars, and a generally
heavy movement, especially in the
Southwest, were factors in the weak
ness. Possibly as much as anything.
however, in the downturn, was the
natural bearish influence Of the big
wheat yield which sooner or later must
press on the market.
IN general 1T was bearish sentiment
against buiiish statistics. September
IfoGndered at Sc and closed weak. &c
lower at 69@69Hc. Local receipts were
SOP cars, only three of contract grade;
Minneapolis and Duluth reported aga
cars, making total for the three
points of CTS cars, against 598 last
week and 848 year ago. Breadstuffs
on passage Increased 1,648,000 bu.
Worlds shipments were 100000 bu
AGAINST ll,344,o0o bu year ago. Pri-
mary receipts were 1483,00O blu,
against 1,424,000 bu last year. The
sseaboard reported IL loads taken for
export.
Corn Holds Strength Better.
Corn held to it's strength better than
the other grains. After the early squirt
trade Iapsed into slow, narrow mar
ket. The course of the market was
partly Influenced by the cold, rainy
weather and by the action in wheat.
Iowa had floods of rain Local opera
TORS We're scalpers on the bull side,
buying September briskly for the first
hour. Offerings were light early. Re-
ceIpts were small at 43 cars, cables
We're firm and hot winds were report
ed In Kansas. These factors started
September unchanged to &c up at
81 Bc to 51Ac, but soon took it 70
52Ac. Then came liberal selling by the
early supporters and predictions of
better weather. The cash demand was
small, although contract stuff was
scarce. On the selling and the dip
IN wheat September fell back to SING.
A slight rally brought a barely firm
close, September &c up at 511Ac.
= oats started strong on the bad
weather in Iowa and on general buy
Ing. There was no unusual feature,
however, and although the cash de-
mand continued good and offerisSs
We're not excessive, prices fell back
with the weakening of wheat and corn.
The close showed fractional advances.
September sold from 1925 @32%c down
to steady close, shade up at BIZ
@32c. Receipts were liberal at 261 cars,
20 of contract grade.
Provisions were rather dull, but
showed fair strength. The hog market
was steady, and together with support
by packers worked against a slight
pressure from the outside. There was
a good rally after an easy opening,
but profit taking late in the day took
off most Of the gain. September pork
closed 21sc up at $685.; September
lard SC higher at $10.35 and September
ribs nc higher at $9.65.
The estimated receipts for tomorrow
are: Wheat, 465 cars; corn, As cars;
oats, $50 cars, and 1000 head of hogs.
The leading futures ranged as follows: