The Saint Paul globe., 1902-04-01
CHICAGO CHANGE.

CHICAGO, March 31.-Speculation in
gram was active and nervous today fol-
lowing the antics of the corn pit. Trade
was largely manipulatiVe character
which puzzles the public. AT the close
May wheat was unchanged, May cora 20
&C hlgher ana May oats 12c higher. Pro-
visions were weak for time but closed
unchanged to 212c higher
There was good strength in corn ut the
outset, due to the influence of the cold
Weather west and southwest. This was a
good excuse to start covering and blying
Eut the crowd which has been active nf
late in bull deal in July options Jumped
INTO the pit and sold 1,G00 900 bu on that
delivery In about ten minutes Specula-
tors We're staggered for time and all
prices lost in consequence. July lost /
cent straight to 601sc and May, which
to 604c, slipped down TO 593sc
1t was thought that the bull element
had Intentionally bid up the opening
prices preparatory to the heavy Selling
After this break the corn seemed to be
absorbed in a quiet manner and 1t was
supposed the cereal was finding it's way
pack to its early holders. There was 4
disposition to cover on the "buH DEAF
talk and prices gradually advanced. ont
SIDE news, which was mainly weather ard
short receipts and holiday today in the
foreign markets, Were lost sight Of IN
the gusSeS as to what will happen i'll July
deliveries. There have been so many
theories advanced that the trade seerrs
not to know whether there is a deal on or
whether It is simply scalping on a big
scale. The close was firm May HTD1lc
higher at 69}sc. Receipts were III cars
A natural reaction from Saturdays de-
cline and the effect of the corn strength
caused wheat to open shade to 1s4lic
higher at 7lAc to 13sc. Statistics except
the increase on passage were bullish
Cold weather, though lightly spoken Cf.
mad Its effect through corn. The early
tcne was almost strong and was aided
materially by commission house buying.
All this show of a revivng market went
gIlmmering, however. when corn broke
cent. The market was very unsettled
sold heavily here. Stop loss orders were
reached and May prices reached a new
low mark for the season, 701kc
The Increase of 2,296,0O0 bu in bread
stuHs on passage was construed bearish-
ly by the crowd. Late in the day there
was some talk of crop damage in the
Southwest, but most Of the spectators
were inclined to treat the argument light
~ crop experts expect the next govern
ment report to show condition of so to 20
for Kansas. AS corn recovered, scaIpers
took advantage of the absence of "a sell
ing pressure in wheat to boost prices
again and May rallying, closed unchang-
cd nj 71B01Hc.
Local receipts were 70 cars, none of
contract grade Minneapolis and Du-
luth reported 391, making a total for the
three points of 40, against 541 last week
and 562 a year ago. Primary receipts
We're 10000 bu, compared to S67, COZ Du a
JCot d6O- SEdDOdTu EtPdTdQCGS III wheat
and flour eQualed 5lS000 bu
Oats were dull and almost featureless.
There was very little selling pressure but
also almost no demand. The market was
easy al times in the absence of demand
on the weakness in the other grains
Changes were only fractional Oats did
not show as much weakness as the other
grains and when corn rallied this cereal
closed highest of the pits. May sold to
4z4sc and closed firm, 12c up at 42c. Re
ceipts were 132 cars
PROVISIONS were active and irregullr
There was an early strong feeling III the
race of weaker hog market, but it
did not last long. Commission houses
Equldated for outside longs literally ana
particularly in May and July pork. This
depressed prices and showed that the
bulge of the last week or so was Indinly
caused by short covering. Packers came
TO the rescue of the market by buying
through brokers and even sent price,.
above Saturdays closing figures Real
izing sales toward the end of the session
brought dips again and May pork closed
unchanged at $l6.55; May lard unchanged
at S977R and May ribs 212c higher at
s.. 80.
The estimated receipts for tomorrow
are: Wheat, 50 cars; corn, 173 cars oats,
1876 cars, and 29,G00 head of hogs
There Will be no session of the board
tomorrow because of municipal elections
The leading futures ranged as follows: