The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-07-08
GRAINS HAVE A RALLY
REPORTS OF ADDITIONAL RAINS IN
WEST HAVE SOME EFFECT
September Wheat and Corn Close Higher
and Oats changed-Provisions Are
Srong and Close Somewht Higher.

CHICAGO, July Following early IN
easlness the grain markets rallied today
on reports of additional rainS in the West
tHePiemper wheat closed, 19M38c and Sep
TEMPER corn 9sc up, while September oats
cioSed unchanged. July corn shorts bid
the tied-up, option to S4a4c but got little
Zoe to 22@c higher.
AT the opening wheat was sold freely on
IHe GOOD weather OF the days when the
BOARD was closed. The stuff seemed to
come from all sources, ST. Louis interests
pelng prominent. Under this pressure the
Price OF september went from 1875 @D731sc,
me high point at the opening, to 72iEr.
Here the pressure from sellers eased up
and the market held steady for a time
Later reports of general rains in the West
s sun up excitement again and shorts
Grm, 12W9sc over Thursdays close, at
a3Bc. Local receipts (three days. We're
30 %! cars, nine OF contract grade; Minneapo-
lis four days. and Duluth (three days)
reported 95S cars, making total for the
three points of 1056 cars. Worlds ship
ments We're 6,560,00O bushels. Seaboard
70 657 600 bushels for the past three days
Urinary receipts. three days were 1888. :
00O bushels, against LOGS, 900 bushels for
thg e., corresponding period year ago.
There was heavy selling of September
corp early on the Improvement in the
weak weak however, May and December were
Hrm. Later September steadied on the
ram ram reports and reacted under fairly ac-
tive buying chiefly for the short account
IN dnis option sold between Gle and 621ac
ana closed 9Sc up at 62Ac. July corn
winch Is controlled absolutely by a coterie
OF speciulators had fit of Mysteries for
very sllght cause. There was little trade
was, in the smallest possible lots. The
martet opened unchanged to 215c up at
a a1c TO ~ tSSAc and remained neglected
around the top of this range most of the
forenoon. The advices of rains however
frightened few shorts with small lines
to cover and they ran the price up to
84%c before their wants were satisfied.
July closed %c up at sac. The incident
is OF Importance only as furnishing fur
ther evidence of what the controlling par
y can 90 II 1t wishes with those who are
short of July So far as can be learned
the pig shorts have not covered This
may nave been done in Individual cases
however nov without the public learning of
pie to execute wild fluctuations every
time some belated short tried to cover
a 1900 or II, O00-bu lot as was the case
1886 cars. - ~
Oats were sick early, getting q @1Ac
under Thursday, but the far months re-
strength and predicted showers. July
closed lie lower in sympathy with a drop
in cash prices. Opening trades We're over
a wide range, and while the furry lasted
selling was carried on with, a rush This
was due chiefly to the improved weather
OF yesterday, with predictions of more,
'UoO0 poJ!ll6 l0lSI anu d lIIIlG recovery,
shorts coming in freely. The easiness of
the cash market, however, worked against
such advances as were scored in wheat
and corn. September sold between 34H &
and 80 1sc and closed unchanged at 34kc
Receipts were $50 cars for three days.
provisions opened strong and In the
main ruled that way throughout the day.
A sharp advance at the yards. together
with the high price of corn and wheat,
were the influences. The advance dis
closed a considerable short interest which
did most of the bidding. September pork
and September ribs closed Zoe higher,
while September lard, the strongest of the
list, showed a closing gain of 22hc
The estimated receipts tomorrow are:
Wheat, 70 cars; corn, 200 cars; oats, 1870
cars, and $4,000 head of hogs.
The leading futures ranged as follows: