The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-07-01
WHEAT STILL SOARING
RAIN ALL OVER THE COUNTRY fla
VORS THE BULLS
Wheat, Corn and Oats Continue to
Advance, With No Signs of Going
Bump-PrOvisiOn Pit is Deserted
During the Grain Excitement.

CHICAGO, June 9O.-In the grain pits
today the dominating influence was the
rain which has fallen since Saturday to
flood an already soaked country. The
to scarcely warrant attention. Wheat
closed nc over Saturday; corn, 11@c to
27sc up; oats, 1A@3sc to 1%c higher and
provisions 21a 70 TIC improved.
September wheat, in which option the
bulk of trade was transacted in the
wheat pit, opened 7sc to 1%c higher at
73A to 1870 and went at jump to 74c
amid the clamor of rain-scared crowd
of shorts. Although not needed for the
purpose, a decrease of 9725,000 bu In
the quantity afioat. and a report that
importing owing to a prospective late
European harvest acted as auxiliary in
fuences in sustaining prices. On the
other side there were two considerations
low Liverpool cables and the feeling
that the rain must finally cease Trade
was heavy during the first hour. but the
price did not get outside the opening
range, nor did it during the remainder
transactions decreased. The close was
strong, September, 1Ac up at 733sc.
The visible decreased 900 bu.
Seaboard clearances in wheat and flour
ceipts were 637 900 bu, compared with
$4,000 bu year ago. Minneapolis and
Duluth reported 495 cars, and Chicago
70, with five of contract grade. This
cars, against 452 last week and SIT a
year ago.
Corn was excited and the feeling nerv-
Gus, but prices exhibited a buoyancy
which refused to be dulled even when
the manipulators of the July delivery
dumped September in the pit in impos-
ing quantities. July corn startled he
holders by jumping to 725sc, fhe highest
TENDER option enlivened the opening
hour. The manipulators of July began
selling September, but the representative,
or an influential house stood close and
nonchalantly absorbed everything Of
fered.
The excessive rainfall caused much
fear of irreparable DAMAGE to the crop
and made an interruption OF the move
ment and deterioration in the grading
almost certain. While interest in July
was keen. owing to it's high price, the
biggest part pa, of the trade was in Sep
profit-taking on the upturn. but generally
commission houses were on the buying
side, indicating that the country is get
ceipts We're 255 cars. The visible in
creased 49S000 blu. July SOL; between
7O1sc and 725sc and closed strong, 2Bc
over Saturday at 721ac. September rang
ed between &c and 63$sc, closing 1A@3sc
up at 63c.
Oats contributed their share to the
bull excitement prices advancing sharp
ly on unrestrained buying by almost
the influence. It was said that the de-
luge threatened even crater damage TO
oats than to either wheat or corn. A
%strong cash situation augmented the
sentiment on the bull side. Shorts en-
gagged in a lively covering movement at
the opening. Profit-taking followed and
forced prices back for a time but later
buying was renewed and the market clos
ed firm. Receipts were 209 cars. July
sold between 4714c and 4S3sc and closed
1Ac UP at 1880. September ranged be-
tween 343sc and 35Ac, and closed 1Ac
@3sc improved at 35c.
Provisions were neglected for the
grains. Prices. however, were steady in
sympathy with corn and on firm prices
at the yards. September park closed
PIC higher at $3.50; September lard, S
@71kc up at $10621ad1O65 and september
ribs, nc better at $106715.
The estimated receipts for tomorrow
are: Wheat 40 cars; corn, 325 cars; oats,
2S5 cars and $4,000 head of hogs
The leading futures ranged as follows: