The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-09-20
GRAINS MOSTLY HIGHER
QUICK CHANGE OF FAITH is Ex-
PERIENcED BY SPECTATORS
Early Conditions Are BearisEn, but the
Developments Are BuIlfsn and Weak
ness Is Succeeded by Strength, With
Material UpIlft of Prices.

CHICAGO, Sept. 1s-Grain SPECTATORS
had quick change of faith today. Gem
eral conditions, especially foreign wheat
tarily weakened, but on a strong North
western situation in wheat and sharp
Eastern buying in corn, with greatly re-
turned rapidly upward for good gains.
The local selling sentiment vanished and
at the close September wheat was 15sc
higher, December wheat 70 re up, Pc
oats &c lower. January provisions closed
unchanged to 215c higher.
At the outset wheat was subjected to
pressure. Cables were weak, the Rus
sian crop was estimated the largest I'm
ten years the weather was favorable and
Northwestern receipts were improved
Local traders at once turned bearish, and
an early weak cora market could give no
supporting influence. What little rain
there was reported which interfered with
threshing, and the spring wheat move
ment, was favorable to the winter plow-
ing. Speedily influences more potent than
foreign bearish adviceS were felt. North
western houses began buying in repidly.
Minneapolis reported 128 cars diverted
an one day.
Brisk Turn In September.
Shorts were buyers of December as
a brisk turn in September options. Corn
later had bull factors of it's own, and in
turn helped wheat. A good export bust,
here, 10 at Duluth and loads at out
ports. Spurts Of activity livened the
market, outside business developed and
everything closed higher. September sold
74c and closed strong, 15sc up, at 1899.
December opened A@Ac to a shade lower
at 6S7Ac to 6S5sc and closed firm, s@kc
up, at 69sc. Local receipts were 207
cars. onZ of contract grade. Mime
apolis and Duluth reported SS2 cars, MAX
ing total for the three points of LOSE
ears, against Ss7 last week and 1875 cars
in wheat and flour equaled $4,000 bu.
Primary receipts were 1887 900 bu, against
], 1923, 600 bu two days last year. Argen-
tina shipped nothing to Europe last week,
country have fallen off 100000 bu I'M
der last year.
Corn slipped off at the start on alb
sence of frosts in the cora belt today.
were large. Todays arrivals were 266
cars, &C Of contract grade, and the esti-
mate for tomorrow was heavy at 460 cars.
Argentina shipped heavily, $500 bu.
A quick reaction resulted on covering.
Sellers No Longer TImid.
late, and today the sentiment readily
changed when the crowd began to con-
slider that tomorrow probably would show
contract stocks down to 10000 bu. Bad
low prices there was sharp demand
from Eastern houses. Prices advanced
well, but did not hold all the gain. Sep
TENDER sold from 5S1zc to $3.50 and closed
firm, nc up, at 59c. December sold from
43Ac to 44bc and closed firm, h@nc
higher. at 43%@44c.
Oats held fairly steady and somewhat
quiet. The strength in wheat and corn
was of material help and worked against
offerings that resulted from better grad
ing. Receipts were small at 156 cars, Is
of contract grade. Private elevators
turned out So cars Of standard grade. The
situation was easy at the start on some
selling by elevator people, such as weak
ened the market yesterday. Price fuctu-
ations, however, were very narrow. De-
cember sold between 38asc and 305sc and
closed 1sc down at 301zc.
+ Provisions were only fairly active at
times. There was occasional good de-
mand for nearby stuff, and especially in
October ribs, which gained 273ac. Packers
were supposed to be taking in January
stuff. After an easy opening on lo-- er
hog prices offerings were light and 81
gains were recorded January pork closed
2hc up at $15; January lard unchanged at
IS AN, and January ribs 2kc higher at
Estimated receipts for tomorrow:
Wheat, 1856 cars: corn, 450 cars; oats, z95
cars: hogs, II, 006
The leading futures ranged as follows: