The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-09-18
FIRM TONE IN GRAINS
TRADE is STILL LARGELY CONFINED
TO THE LOCAL CROWD
Potent Factor in the Shape of Predicted
Frosts to Follow the Late Mild Weather
Higher Opening In Wheat and Prices
of Nearly All Grains Up at the Close.

CHICAGO, Sept. 1.-THE general tone
frosts to follow the recent mild weather
were potent factor. Trade, however,
was still largely confined to the local
crowd especially in wheat and oats, ana
inasmuch as these pits ruled dull, price
changes in them were small. Corn felt
the weather most and was active most
Of the session. AT the close September
wheat was Ac lower December wheat r., &c
corn &c higher and December oats !sc up.
Provisions felt the effect of a raid in Oc-
tober pork and closed Be higher to soc
lower
Rain in the Northwest, with much cool
er weather predicted was the cause of a
higher opening in wheat. Cables also
were construed bulllshly. Inc TACT that ma
creased over last week and year ago
was offset by the expectation that IN
consequence of the rains the spring move
ment once more would be curtailed. Ca
bles advanced little as the session
moved on and the export business was
good. both Duluth and New York report.
ing twenty loads taken and Buffalo 100000
bushels. The fact that the outsider was
not in the market worked against good
gains. Much of the time the pit was al
most deserted. Price fluctuations were
done after the first hour interest died
out. September wheat sold between 73c
and 72Ac and closed easy, &c off at 72ssc.
December sold from CSC to 69Ac. dipped
Local receipts were 200 cars, of con-
tract grade; Minneapolis and Duluth re-
ported 1856, making total for the three
and TAB year ago. Primary receipts were
1453, 900 bushels, compared to 1,514,000
bushels last year. Seaboard clearances in
wheat and flour equaled 621 900 bushels.
Corn the Only Broad Market.
There was but one broad market today.
cr,I fIof nov Ernc Ia liz
principal bullish incentive. OF late there
has been fair selling in spasmodic turns
because of talk of big crops: Many spec
ulators believe that with the end Of this
month the drastic effect of last years big
crop shortage will have disappeared That
was one Of the reasons for selling on hard
spots. Many other traders however,
o On 5ns 9g
said to be Is, 10000 bushels 1t is known
that cribs along the country railroads are
almost empty-have been for nearly a
year. Where there were $4,000 bush
els in the visible supply a year ago. there
are but 100000 bushels now. Chicago has
practically the only corn supply and that
ers are inclined to hold much of their
better corn. Much of the receipts for
some time are expected to be soft.
All these conditions have made bears
cautious and have induced conservative
support. With hard frosts forecasted for
tonight, these factors once more came to
light. Most of the Middle West today
was wet. General and influential buying
followed in December and May and good
upturns resulted. September was not so
active and at times showed dropping
tendency.
The Washington crop bulletins reported
the corn belt. Yet Notwithstanding the
frost talk there was all the time present
feeling that big crop was forthcoming
and this put a check on the bullish en-
thusiasm. December corn sold from 431kc
to 44@44kc and closed firm, 1ac up at
1875 @44c. September sold between 58c
and 5S1Rc and. closed firm, sc higher, at
$3.50. Receipts were 1872 cars, 80 of
contract grade.
Oats and Provisions.
Oats ruled steady and showed no i'm
portant changes in prices. There was
some buying at times for manufacturers
and fair support, by leader. The wet
strength in corn. December f1uctuated
only &c and closed steady, Bc up at 31Bc.
Receipts were 1852 cars.
fallen off SOc in two days. This induced
some outside liquidation, but good sup
port was under the market until late In
the day. When support fell off there was
flood Of offerings of October pork and
prices in that product fell off from SIC. 671a
to $16.25. This worked against all other
prices and October options all closed weak.
Part of this action is thought to have
been for the purpose of bringing near
by and distant options nearer together
At the close January pork was sc higher
at s15.05 while October closed SOC off at
$16.25. October lard &c down at $9971s,
and anuary lard 21a@5c higher at sS.55.
October ribs were zoe lower at $10.05,
Estimated receipts for tomorrow:
Wheat, $50 cars; corn, 375 cars; oats, 1S5
cars; hogs, 900 head.
The leading futures ranged as follows: