The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-04-08
GRAIN Is A PUZZLE
VIEWS ON WINTER WHEAT CROP
In DAYS TRADING IN PA
ARE CONFLICTING
MAY CLOSES WITH A GAIN
Corn Is Weak, However, Going lie
Lower-Oats Price Also Falls
on, and Provisions Are
FIuctuating.
MAY CLOSES WITH A GAIN

CHICAGO. April Grain spectators
had conflicting opinions regarding the
outcome of the winter wheat crop, which
when they attempted to reconcile them
with the weekly statistics produced some
| thing OF d Jagged market. Prices rose ard
| feu with the changing sentiment but in
the end, in spite of corn weakness May
wheat showed gain of sc. May corn
closed 12c lower. and May oats &c down
Provisions lost sc TO 1212c.
At the outset there We're numerous bull
lsh influences at work in the wheat pit.
cables were steady and there had been a
Dig drop in the temperature. The Kan
saS state crop report, however, was the
early bull factor This estimate which
Saturday was reported at IA, was cor
rected today to condition of only 10,
as compared to Jos year ago. The re-
port also showed a loss of 900 in the
acreage from last year. and a possible
decrease in the yield of 10000 600 blu.
Other States had been sending in lower
estimates and these influenced an up
turn in prices. Missouri was reported
at 80, against SO last year; Ohio IA
against So, and Illinois March fig
ures), .7G, against .SS. Under these in
sc up at 7ll4c to u12c, shorts covered
there was some good buying and prices
held firm for some time. A Chicago pa
Per printed an exhaustive report Of crop
conditions which. in spite of the dam
ages in the Southwest promised about
the same crop as last year. This factor.
together with large weekly shipments
ard a decrease in the visible sup
pected, Wore away the edge of the bull
ism enthusiasm, and wheat began to
weaken.
Corn Also Turns Weak
Germ, which had some fair early sup
port also turned weak and helped push
wheat backward May wheat declined to
709sQ7G%c, but the bulls turned in again to
the support. Shorts covered again, and
there was good rally, May closing firm
3sc higher, at 1AG13sc. Receipts were
still small the cash business was moder-
ate and seaboard acceptances were very
light Elevators were liberal sellers Com
mission houses worked on both sides of
the market
The crowd seemed disposed to wait for
the government report to settle their mis-
s1vings about crop conditions Local re-
ceiptS Were 80 cars none of contract
grade Minneapolis and Duluth reDOrted
2ol cars, making total for the three
points of PSI cars, against 40 last week
ana oh year ago. Primary receipts
were $4,000 blu, compared to 591 600 bu last
year. Seaboard cIearances in wheat and
flour equaled 1884, eco bu. Worlds ship
merits were SS62,000 bu. against 6632 0GO
Du last week and $4,000 bu a year ago
Ereadstufts on passage decreased only
600 bu. The visible supply decreasz d
only 1905 coo bu
Corn ruled weak again At the opening
the wheat strength and the cold weather
| ihduc9d liberal covering by shorts, and
the PIT crowd, anticipating a possible bull
turn, loaded up pretty well with long
stun. Later, when wheat eased they
trIed to sell and found nobody wanted
II at the high prices. Scalpers We're
forced to sacrifice their holdings and
prices took sudden drop.
Inc shipping demand was reported
very poor and helped In the depression
i Lhe !, SoI4thwest sold early, and the mar
kGt lacked bull support Cables were
steady, ana kept prices up for a time
early and small country offerings had A
similar influence. The selling. however
was TOO much for prices, and May, after
selling at 591sc, slumped to 575sc and
closed weak PC down at 57HG5Sc Re-
ceipts were only IS cars
Little Interest in Oats.
There was little interest in oats. Prices
early were better, with other grains. and
provision houses bought some Nav
held rather steady, though at one time
because or the growing weakness in corn
Il eaSed off from 43c to 421Ac There was
a partial recovery after the somewhat
| free offerings of May stopped and May
closed easy 1sc down at 421sc. Receipts
/ We're Il cars.
Provisions fGctuated widely again on
manipulatiOn. Opening prices were
| higher on the better hog market and the
grain strength. Liquidation soon set in
| however, ana carried prices down
ward Packers sold freely at times
while scalrers bought. The market was
not very active and corn weakness helped
in the decline. Light weights in hogs
vas also an incentive. May pork sold
| from $3.50 down to $685. but rallied on
covering to an easy close, sec lower at
| SIG 421a May lard closed 121ac down at
SAT-, and May ribs 121ac lower at IS 10
The estimated receipts for tomorrow
are: Wheat, % cars; corn, 1870 cars; oats,
1875 cars, and $1,000 head Of hogs
The leading futures ranged as follows:
fOpap fII;oI7 r - l(rT ~-.-