The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-04-16

CHICAGO, April 15.-Speculaton in
grains was of an erratic nature again to
cay. Doubts as to the possible effect IF
the British import duties on breadstuffs
mixed the wheat trade early, and other
Influences pressed prices down, while
break in st. Louis hurt corn here. Just
before the close wheat began 60 sky
rocket and corn tailed after May wheat
closed 112@15se higher, May corn 1Ac up
and May oats 12c advanced Provisions
gained a shade to 10c.
Early business in wheat was somewhat
demoralized The crowd did not know
how TO interpret the new British duties
and early deals were a matter of guess
work. Rains had fallen West and in
clined spectators to the bear side. North
western receipts, however, We're almost
nothing and the cash demand at Min
enapolis was much improved because
everything was reported taken up.
Corn was weakening and as advances
from London stated that buyers would
pay the duties through August, and after
that the duties would be figured in the
contract, the crowd turned to sell a lit
tie. May opened unchanged to a shade
higher at 72$s to 723sQ17315c, touched 72i5c
and sold off to re There was a great
discrepancy in cables-Liverpool early be-
ing as much as Ac higher and closing
12c lower. London prices ranged 9sc low
er to 2Ac higher
1t was announced that colonial as well
as foreign wheat must pay the tax 1t
was assumed by the trade that export
business would be upset for some time
because of the tax measures.
Corn Shorts Are Squeezed.
After the weakness in corn wore away
somewhat and the fair weather reports
were offset to some degree by crop dam
age reports, heavy buying set in Brad
streets reported a decrease of 8, 90
bushels in the visible supply. Commission
houses had good orders and shorts COW
cred freely. The general sentiment turn
ed very bullish. and the opinion pre-
vailed that the slight WRITINGS the winter
crop is getting at times helps it but
little.
Late damage reports scared the crowd
badly, and in the half hour before the
close, May was showed up &c from it's low
prices for the day and 74c. May closed
strong, 112Q19sc higher at 1879 to 74c.
Local receipts were A cars, 10 Of con-
tract grade; Minneapolis and Duluth re-
ported only 80 cars, making a total for
the three points of 1874 cars, against f3j
receipts were $4,000 bushels compared
to $4,000 bushels year ago. Seaboard
I, clearances in wheat and -four equalled
$4,000 bushels.
squeezing process today. There was
plenty of stuff for sale early on the
break of cents at ST. Louis The sit
uatlon was almost the opposite Of yes
| tefday. Kansas City denied report of
a sale of 800 900 bushels cash here and
the West turned weak generally. Al
though cash stocks were practically gone
at the two Southwestern markets there
was sufficient demand to keep prices up.
The market was nervous most of the day,
but gradually bears plucked UP courage
and began selling short.
Provisions Tone Is Strong.
Then came the bulge in wheat and
prices jumped upwards again as the
short crowd tried to cover Action was
very irregular but the business trans.
acted was not heavy. May corn opened
Tic higher to Hc lower at 62h to &c,
slumped to 61Ac, then advanced to &c,
where it closed, strong, 1Ac higher than
yesterdays close Receipts We're So cars
Oats had better prices in sympathy with
other grains. There was fair buying of
May and the new grade of July Com
mission houses helped in a small advance.
Local bears were not sellers but trade
er receipts and better conditions for sown
cats retarded advances somewhat. May
sold between 4212 and 43c and closed
firm 12c higher al the latter figure Re-
ceipts were 232 cars.
Provisions were strong early on the
hOlhsh hog situation. Packers were
large buyers of pork and ribs and the
outside bought literally for investment.
offerings, such as they were, came out
principally for profits and were quickly
taken up. Toward the close prices eased
somewhat. but the tone was generally
strong. May pork sold at SIT and closed
IL cents up at $16921a; May lard closed
shade higher at $9.7509.771a and May
ribs 5Q712c up at $S1712G8.2O.
The estimated receipts for tomorrow
are: Wheat, 80 cars; corn, 40 cars; oats.
80 cars; and 2S.000 head Of hogs.
The leading futures ranged as follows