The Saint Paul globe., 1902-07-22
GRAINS COME DOWN
BEARISH SENTIMENT TAKES THE
TUCK OUT OF EVERY PIT
Oats Threaten to Stampede the Crowd by
reaching New Record, but the Move
ment Faiis-Duil Day in corn-Oats the
Weakest of the Grains.

CHICAGO. July 31.-Bearish sentiment
ehgendered by fair weather and a better
movement IN grains, was in the ascendant
ttioday on the board of trade For short
TIME July oats threatened to stampede the
cnoWd OF shorts by touching a new record
sr q. ofG. IN the end. however, selling was
closed ss 1ac lower, July wheat Hc low
er, September corn 3sc down. July corn 2c'
lower. July oats 11ac down and Septem-
9H III oats e gAc lower. Provisions closed
AFTER almost constant rains for such
long time that shorts were in despair. the
Ilrea me ,WeaIhef OF today, with plenty more
Preqlcted, put the bears in fine feather.
Both IN the Northwest where the spring
Wneat harvest began today, and in the
5tl oou5IntlWest where wheat is in shock, the
CONDITIONS We're very favorable. Wheat
cables We're Indifferent to the local din
mere Saturday, owing probably to threat
gnlng R1lt w weather a1 in England and France.
lower opening. The wheat crowd was
oearlsh on general principles.
Buying Begins Early.
immediately, however, on the early
preak buying began, influenced by marked
decreases in the worlds shipments of
ia iast week and in the decrease Of 1850. 900
puSneIS or breadStuffS on passage. Re
celpts were very liberal, but contract stuff
renamed very light Export business was
almost nothing, bids being 1c to &c out of
Ihe way, and at Baltimore buyers were
reported asking to have contracts can
celed. When estimates for tomorrow's
receipts were posted at 435 cars and the
visible supply increased 607, 600 bu the
early bearish sentiment was revived and
local selling at once depressed the mar
Trade was fairly large but was much
mixed during the day September opened
M@ ase to Ag1sc lower at 72c to 71hc,ad-
yanced to 72$c, broke to 711k @717sc and
eod eGded at weas a @e sb6Tg dOTn at JAS July
closed easy, &c lower at 76Ac Local
receipts were 218 cars, Of contract
grade OF these 2OS were new wheat, but
OF the new only l car was contract. Min
neapolis and Duluth reported 2S1 cars,
making a total for the three points of
499 cars, against 627 last week and 6S1
year ago. Worlds shipments were 6, $685.
GOO bu, against 1901, 900 bu last week and
1,644, 900 bu last year. Primary receipts
wefe " eT l2ooeoo bu against 15l5 900 bq
and flour equaled 515, 900 bu.
DuIIness In Corn.
Corn was dull and listless most of the
day, buoyed up only momentarily by a
little short covering on the influence of
the temporary wheat strength. Receipts
tract grade. But private elevators turned
over 210 cars, making total of contract
stuff out amounting to 375,O00 bu, After
the early rally support was wanting; Of
crowd and little stuff was wanted. There
was not much disposition to sell short,
DuC In0 IlIle weather, Wn1Cn nelpGQ move
ment and grading, and the large esti-
mated receipts brought weakness. Sep
tember sold from 60sc up to 61sSc, broke
to 60Bc and closed weak, &@Ac down at
60kc. July sold early at &c, but closed
weak, &c down at 63Ac
Oats were weakest of the grains, but at
the same time made the best show of
strength early in the session. A break
to &c early in July oats gave rise to the
rumor that the shorts had settled in this
option But at once the price was put
trade resulted for a short time.
Receipts Continue Light.
Receipts were still very small at 80
cars, Is of contract grade, but today there
were 18 cars Of new oats. Iowa sent re-
ports that one-third Of the crop of that
state had been damaged. In the end the
fine weather prevailed against the bulls,
and all prices weakened on liquidation
Selling said to be for the interests that
control the short lines now out helped
break prices September sold from 37%c
down to 331sc and closed weak, IS @ &c
lower at 1914 @33asc. July closed weak
1kc down at 63c.
Provisions were heavy and were for
sale all day in much larger quantities
than the crowd wanted at the asking
prices. Hogs were abundant and had to
sell at discounts of 10c to 15c. The selling
for the purpose of breaking the market:
September pork closed 37hc lower at
SIS 90; September lard 15c down at $10.75,
and September ribs 712c lower at
$40. 67kc. Estimated receipts for tomor-
row: Wheat, 435 cars; corn, 445 cars;
oats, 1876 cars; hogs, 10000 head
The leading futures ranged as follows: