The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-03-02
CHICAGO CHANGE.

CHICAGO, March IAN excited oats
market held the attention of spectators
In grains today. Alarmed shorts covered
so hurriedly that May oats jumped up
two cents and other grains strengthened
on the influence. "a sharp reaction fol-
lowed and May wheat closed 34c lower
May corn $4I1sc lower and May oats only
"a 2c up. Provisions closed a shade to
5q71ac lower.
The early furry in oats was the out
come Of report that the heaviest holder
OF May oats was ordering number two
mixed oats out of regular elevators for
the purpose Of shipping as much as pos
Slble OF contract stock out of Chicago
Shorts regarded this as a challenge and
for the first hour there was a lively
scramble TO cover. There was some fear
that an attempt was being made to force
values before the government crop re-
port which is expected March 10. Receipts
continue slow and there are no indica-
tons that point to an early increased
Storms are breaking up the roads. These
influences aided in the manipulation
winch dld not come entirely unexpected.
Nervousness prevailed all morning and
the trade was heavy. May opened &c to
12c up at 4Ac to 45, eased momentarily
70 449sc TO 4c and then went upwards
with quick jumps to 4612c. one buyer cot
nearly l,W0,O0 bushels at the high figure
Later the market Quoted down and on an
absence of demand prices, slid back as
quickly as they advanced. May touched
4412c ana closed still firm, &c to pc high
er, a 44zsc to 45c. Receipts were "a cars
Wheat was active at times. but with
a declining tendency that was checked by
the strength early in the coarse grain
markets. The range was small and trade
not heavy. Damage reports continued to
come in from the southwest, but the
crowd was slow to believe them and on
the heavy rains the feeling was inclined
to be beariSh. English cables were
rather firm and the sharp bulge in oats
and the corn strength helped an early
hrmness. The outsider was buying mOder-
ately, but the prevailing sentiment seemed
to lack confidence. There was no de-
mand for cash wheat and there was moth
ing significant in receipts. May opened
a shade higher to shade lower at nc
to 1870, held steady near those prices
the first hour and then when corn broke,
eaSed off to 7615c. MAY closed easV AK
lower at 7615c to 5sc. Local receipts were
"a cars, none of contract grade. Min
neapollS and Duluth reported 358 cars
making total for the three points of
81 cars, against 361 last year. Primary
receipts We're $4,000 bushels compared to
526,OUO bushels a year ago. Seaboard
cclearances in wheat and -four equalIed
$4,000 bushels.
Corn was active and somewhat merry
GUS Early in the session small accept
aEces over night and higher southwest
ern markets frmed the market Gables
We're slightly higher, but were disap1
pointing to bulls as We're the increased
receipts But the options held corn 10 its
strength and May opened Hc to Ac to q
shade lower at 623sc to lsc. Fluctuations
were narrow just after the opening and
May sold up only to 621ac when oats were
at their highest. As soon as oats started
to react, corn holders began to unload
and the market turned weak. Stop loss
orders came out freely around &C. Nav
sold as low as SIC to 9sc and closed
heavy and weak. PC to Pc lower at G18sc.
Receipts were 204 cars.
Provisions opened with a better tone
or light receipts and higher prices at the
yards. Commission houses did small buy
ing and advanced prices. On the bulge
packers offered freely; considerable ribs
We're sold, and on the grain slump price &
eased under yesterday May pork closed
PIC lower at $1545; May lard unchanged
at $93T3 and May ribs sc to TIC lower
at $S.35 to $8371a
The estimated receipts for Monday are:
Wheat % cars; corn, 125 cars; oats, s.
cars and $1,000 head of hogs.
The leading futures ranged as follows:
IOnnr, IIIicrL -. Ill