The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-08-13

CHICAGO, Aug 12.-Today was a bull
e eTg Dotn s grains and provisions and
crop report, which was me disc nnonf
10 the bears, was the cause Of the up-
turn. Shorts We're frightened and COW
s enec freely IN everything Sellers were
crop conditions the brisk demand to se
cure profits, especially in corn. sent
w ~ At up ne &c and corn advanced to $3.50.
~ tne CLOSE September wheat was ~ a
aaBc up, September corn 15sc higher and
9eptemper oats showed an advance Of Il "a
zsc. provisions closed unchanged to 30c
1t was a revival Of bull confidence and
lear on the part of the bears that put
through heavy business in the wheat
PIT PIT The general impression prevailed
come yesterday, and, strangely enough.
the low prices of this Campaign had
come before the government report.
Reverses the Usual.
Usually a government report is fol-
lowed lowed Dy depression. The case was diff
a spring and winter wheat crop of about
150,0O0,000 bu had gained credence, the
government eid suggested only 100000, 900 bu
ish Interpretation, and sent higher quo
tatlons, and the Northwest had lighter
receipts. Primary receipts were heavy,
me ne Weatner was good. and ordinary con-
dltlons Were as bearish as before the re-
celpl OF the report. Coarse grains, how
ever, also had an upturn, selling was
almost am. It nothing and buying for the sup
shorts bid prices up hurriediy.
New York and st. Louis were in the
market heavily on the buying side, and
there was a good commission house de-
mand all day. Arrayed against the bull
movement were the light seaboard clear
sances. although sixty boatloads taken
600 blu sold for shipment here later,
worked against the slightly bearish in
cent1ve and resulted in much stronger
upturn. There were several lapses from
was near top figures. Grading shows but
little improvement, and the local con-
tract stocks are fast disappearing. Sep
at CTS @67Ac, sold to es5Ic and Closed
very strong, IA @1Bc higher, at 69c
Local receipts We're 400 cars, 9 of con-
, rratt gra aa Minneapolis and Duluth re-
ported ported lS2 cars, making total for the
tnree points of 622 cars, against TIC last
week and 667 year ago. Primary re-
GEL ee1p nao W, were l,27S.oOe bu, compared to
In wheat and flour equaled 1923. 900 bu.
Corn Mounts Upward.
Corn showed much strength party he
cause the government report showed /
per cent reduction since July /, but prin-
, n1pa all s On heavy covering by great
profit Most Of the business was in Sep
temper The market was influenced by
Irosts, very small receipts and the
strength in wheat. Cables were lower
due to liberal American offerings, and at
times had influence enough together
Wit with good crop news, to cause slight
breaks in the advance. Commission
houses bought literally. In the main
however, corn traders ignored figures
cables and the generally good weather
and bulled the cereal on sentiment The
trade was full of stop-loss orders, which
came Cout freely from those pressed on
the short side. Conservative traders
said conditions for the crop could not
pc better. September sold as low as
603sc and jumped to 525sc, closing strong
a5sc up, at 52Hc. Receipts were only
81 cars.
There was no influential buying in oats
but prices responded quickly to the bull
1sh sentiment in the other pits Provi-
sion houses bought fairly and prominent
bulls were taking May The strength In
corn and wheat was the principal inf1i-
ence. September sold from 29c to 30Ac.
and closed firm, 1@1hc up, at 30@30Xc.
Receipts were $40 cars.
irregularity in Provisions.
( Provisions were irregular. Heavy COW
ering in the distant months and an alb
Sence OF selling pressure worked against
lower prices for hogs. The demand was
not heavy, but buying orders came In in
Suff1cfent quantities to put good strength
into the market. Several reactions oc-
CURED, but the grain strength held pric-
es up. September pork closed soc up,
$10.55. and September ribs at 22kc up,
at $780,
The estimated receipts for tomorrow
are: Wheat, 127 cars; corn, 81 cars; oats
205 cars, and %, 900 head Of hogs
Inc leading futures ranged as follows: D