The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-08-22
WILD DAY IN GRAINS
RETURN OF MANIPULATION MAKES
ALL PITS A STORM CENTER
Severest Suffering Falls on the Corn
Shorts, September Going Up Nearly
Five cents-options IN Every Pit Feel
the Effect OF Scarcity OF Contract
Sales.

CHICAGO, Aug, 21.-Today was a wild
one in grains. The return of manipula-
ton. which began to make itself felt a
ter Corn shorts suffered worst, Sep
TENDER gaining almost &c at one time
september options in every pit felt the
Wheat got whiri-shorts in oats saw
no hope of contract stocks and the big
packers put their shoulders under pro-
visions. AS usual the fortunate longs
unloaded some of their holdings for prof
its, and there were slight recessions from
top prices late in the day. At the close,
hf en,esr .os everything was strong Sep
Der wheat 5sc up. and September oats
1@11sc higher. September provisions
closed 221s @70c higher.
There was an afterclap>of the July
corn deal that startled the whole trade
IN corn at the opening. OF late it had
been case of blind leading the blind,
selling September corn in order to get
prices down to a level with the further
months. Lower prices did come after
the huge receipts of last month, and
Then came the story of poor receipts,
with but little grading contract, i'm
mense short interests and backwardness
of the maturing crops.
Yesterday English markets began ad-
yancing. Today cables were very strong.
Receipts We're only As cars, and inf1uen-
tia buying, started wild opening.
with, and wanted badly. Nobody could
buy much. The big bulls took on good
lines where they could and offered al
most nothing. Foreign houses did good
early buying, and with a slight hesitation
leaps and bounds. fF tsst
It is generally conceded that September
corn is in a very strong position, but is
badly tied up, as is that option in every
thing. Other months made good advanc-
es in sympathy, but not so excitedly as
September, which opened with a jump of
70 @11sc, at 53A oslo, and went to 57%c,
closing very strong, 41sc up, at sic. De-
cember sold between 415sc and 43c.
How Wheat Jared.
Wheat started easy, but soon felt the
effects of the corn excitement. Cables
were Indifferent and fairer weather was
reported in the Northwest, where it was
most needed. In this pit it was story
OF effects of bad weather, diminishing
stocks, lighter receipts and almost no ar
rivals to make up the depletion of con-
tract stuff. The big bull interests did
comparatively little to start a swift buy
ing movement Elevators and commits
course, the, shorts followed There was
no selling pressure. September was the
more active and influenced advances in
the other options which otherwise had
bearish sentiment behind them. The
cash demand was good and export clear
ances in wheat and flour were heavy at
SIC, 600 buShefs-a total in four DAYS of
3,055, 600 bushels.
September started B@Ac to %@hc
down at 705s 079Bc. and declined to 70Hc.
Then the corn strength was felt and the
month was 4asc over December. Late
proRt-taking brought dip, but Septem-
Der closed firm, 5sc up at 714@715se. Lo-
cal receipts were 306 cars, only 3 Of con-
tract grade; Minneapolis and Duluth re-
ported 1874 cars, making a total for the
three points of 500 cars, against 429 last
week and 649 a year ago. Primary re-
ceipts were 849, 900 bushels, compared to
1856, 600 bushels last year.
Oats Strong and Active.
Oats shared in the strength and activity
which characterized all the other grains.
September led in the advance and gained
'11sc. The sensational upturn in Sep
TENDER corn stimulated the bulliSh feel
ing that has been prevalent in this pit
for several days and brought the shorts
to realization of their position. Shorts
did most OF the buying. They had in
mind mainly the poor grading and poor
stocks. Crop advices were bad and re-
ceipts, though larger than yesterday,
We're still far from sufficient to aid the
lapsed idle, but the strength held
throughout the session. September sold
from $3.50 to s41sc and closed strong,
!5lsagS1 hsc. Up at 34% @3415c.i Receipts were
I Provisions naturally followed the high
er prices of hogs and the advance in Germ.
The. demand for consumption also was
good and it needed only the support Of the
packers to bring sharp upturn all along
the line. Shorts covered freely Bust
ness had largely manipulative aspect
September pork made a jump of 85c bar
rel, selling at SIT and closed up at$16 IS.
September lard sold up to strong close,
s40c higher, at $10.97h, and September
ribs, after selling at 1920 closed 22Mc
The estimated receipts for tomorrow
are: Wheat, 1876 cars; corn, 80 cars; oats,
200 cars, and $4,000 head of hogs.
The leading futures ranged as follows: