The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-04-18
Closing.

SHICAGO. April 1Z.-Grain SPECTATORS
VINO believed yesterday in mvthfcaI stn
flss doout dfenchlng rains in the suf-
Ier1ng wheat country found out tn sir
mistake today. The result was a most
excited bull market
Wheat led in the activity, making an
carry Jump Of almost 2 cents. Heavy
pfotlt-taking brought recessions i'm ali
grams, but the bulish sentiment prevail
Cd and closed 1Ac higher. Nav corn So
higher, and May cats &c up. Proyis
ions closed 212 to sc advanced.
Up to midday the trade in wheat was
aE&louS effort to undo the errors of yes
terCay's, but bears who pIucked 11p conr-
age to sell short heavily at yesterdays
cIose and pressed prices back changed
front at the opening when it was learn
ed that the rains reported were by no
means sufficient to the needs Of the
winter wheat crop. Cables were lower
az the start, ana Northwestern farm
erS were reported making better deliver
les of wheat. The general outlook was
decidedly bullish and at the very start
buy. 90 -
May wheat opened H@Zc higher 81
I574a I41sc; and in a very short time
was rushed to 75c Here trade eased
on little and prices hung steady for
some time at slight recession. Such
a bulge brought out large quantities of
long stuff for good profits st. Louis
was very heavy seller. The selling was
augmented by good reports Of Western
rains.
Kansas Shows No Fear.
The general sentiment of the crowd
was voiced rather accurately by a prom
t tI Stausueal journal, which stated
that the cool weather was retarding
wheat growth and was to some extent
PfeJudlclat The moisture is deficient. and
the weather bureau predicts no rain
Tor thfrty-six hours.
Some of the bears found comfort in
the fact that Kansas City prices were
412q5c under Chicago prices, against 3Hc
under a few days ago. It was argued
drought damage. Some of the reports
nad erect, but May slowly sold down
10 73Se At this price however the
pGy ing side was favored and good raj
~ SET SET H. May closing strong, lac higher
Local receipts were 46 cars. one Of
contract grade; Minneapolis and Duluth
reported I'll cars, making total for
Inc me Lnree points Of POI cars, against 1914
IdsI week and 272 a year ago. Primary
receipts were $4,000 blu. compared to
50I'Ou0 bu last year. Seaboard clear
ances in wheat and -four equaled 247Oo0
Corn had little aside from the buIlish
sltrarion to help it upwards today. Al
tnough there was a bull market most
OF the session, it was rather forced
Caples started out lower, ground break
HlS was reported going on call and there
was only fairly active The wheat
strength and the weather conditior'I
we're bulIlSh incentives. The failure Of
the Dig Western corn states to get rains
vas pdillsh because it suggested possibIe
I troupe Tor the crop later On the other
hand, reports Were circulate again calm
ing more liberal offerings of corn.
Corn Does Not Act well.
Considering the strength of wheat tha
small receipts at Kansas CITY ana Sf
a LOU and the big demand for cash stuff
CorH ala not act well. News from the
ooutnWest was bullish but reported sell
ms Dy a big commission house check
ca the advance. May corn opened 1I6IlIc
hIshef at 6l1s062Hc, sold as low as 6ls[c
W esIhen wheat eased off, and reacted to
Sc paaa4 CLOSING nrrn and 7sc higher at 6z2sc
receipts We're only Sc cars
Iherc was better trade in oats than
Tor some time. July and September
were IN good demand on REPORTS that
ne me weather was retarding plant growth
offerings were few and the wheat
55IIehgth contributed to the better tone
NAY was rather steady and little dealt
ln though slightly advanced On nodero
a ~ cash business. May sold between
IS and 43l2c and closed 1bc III, at fha
latter figure. Receipts were Somewhat
increased at 121 cars
PROVISIONS showed improvement after
yesterdays liquidation Strength In
the yards influenced fair buying Pack
ers also supported. Scattered Selling ~
iocaI scalperS in the way of pro6t-tak
ing TOOK off some of the gain. Mav
pork closed 15c higher at SIG g21b. Ma
up. at 80 49, W.
The estimated receipts for tomorrow
are; wheat. 30 cars; corn, 60 cars: oats.
100 cars. and 1900 head Of hogs -
me leading futures ranged as follows: