The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-04-17
BEARS RULE in THE PIT
REPORTS OF RAIN ARE THEIR AID
IN ALL LINES
Corn Is in a Collapse and Nervous
Trading at the End of the Day
Results in n Loss on All the Ce-
reals With the Exception of Oats.

CHICAGO, April 16.-There was sharp
and irregular action in the grain pits to-
Gay. Dry weather reports We're strength,
ening influences early, but rain came to
the relief of the bears, and prices were
forced down May wheat closed 5s0$4c
lower, May corn nc down, and May
oats unchanged. Provisions lost 214G5c
to 15c.
Conditions in wheat favored better
prices at the opening Gables were
strong at good advances and dry weather
reports continued to come from the suf-
fering Southwestern wheat country
Kalns We're reported in Oklahoma and
Kansas. but mail advices generally stated
that the recent rains were not suf-
1iclent. and that much Of the standing
grain would he plowed under. Influential
interests were buying early after a mo
n:entary reaction and prices for soma
time held strong. Near the noon hour
a selling movement was started on re-
ports OF rain in Iowa. where there has
been much misgiving of late. Some OF
the st. Louis crowd were heavy sellers
as were commission houses
The corn collapse was a strong bearish
factor, and though the outsider was buy
lower prices. May wheat started a shade
to 7sc4Ac up at 74c to 741sc. sold at 1870,
and then worked up to 749sc. On the de-
cline May sold at 731s@73Ac, closing 5sq
Ac lower at 73l4c.
Corn Is in Liquidation.
Local receipts were cars, one of con-
tract grade. Minneapolis and Duluth re-
ported So cars, making a total for the
three points Of IA cars, against 81 last
week and 203 cars a year ago. Primary
receipts were $4,000 bu, compared with
4Sl, 600 bu last year Seaboard clear
bU. The seaboard reported exporters idle
and cas- grain business neglected because
of the English duties.
Liquidation in corn ruled the day. Early
Of III Il
were bullish and helped corn for a time
The pit, however, was very nervous and
after soma fairly heavy buying early
bears began to pound the market. At
holders did not press the stuff on a
weakening market. St Louis, which
was firm early eased off. and this market
declined steadily, Trade at times had
ever, was spirited and of very depress-
ing naturs. The wheat decline was 4
bearish factor. May corn Slid off from
631sc to 613sc, and had only a Slight rally
at the end. closing NC lower at 61Ac. Re
ce1pts were very light at 81 cars Some
traders were of the opinion that leading
bulls were hammering the market in
order to get a better load at low prices
Oats Trading Is Quiet.
Oats were quiet and traded in on a
moderate scale, though fluctuations were
erratic. Corn was the leading influence.
There was still some confusion over the
new grading of standard oats The new
oats held their premium of 13sc for July
and 13sc for September May fluctuated
between 42fsQ4S14c, and closed steady, I'M
changed at Acc. Receipts were again
light at "a cars.
Provisions We're liquidated today on the
influence of a weaker hog market. The
recent higher prices for hogs have been
bringing out increased numbers from the
country. On the decline in products
packers came to the support and there
vas a slight reaction late from the INV
points. May pork sold at $3.50, and
closed 15c down at $16.77A; May lard
closed 5@71zc lower at IS. 70, and May ribs
2I5n5c down at So Is.
The estimated receipts for tomorrow
are: Wheat. 40 cars; corn, 60 cars; oats,
30 cars and 81, 900 head of hogs
The leading futures ranged as follows: