The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-08-15

CHICAGO, Aug. 14.-Ragged grain
markets, the result of renewed manipu-
lation, were the rule today. Traders
thought that with the end of July
deals and with excellent harvests in
sight trade would get back on a natural
basis. But the middle Of August finds
the hoor In tumult again. One firm is
supposed to have all the No. red
wheat in sight and consequently the
wheat trade today was erratic. -Four
big houses are moving in the December
corn and some of the same people have
out long lines Of oats
The new harvests to date have done
nothing to relieve the danger Of man
lpulauon. Adverse weather has worked
against the grading to such an extent
that the contract stocks are low. All
these conditions had turns at the mar
kets today and the result was wide and
inconsistent fluctuations. At the close
crop figures had some weight with
spectators and September wheat
closed &c lower. December wheat
was &c down; September corn &c
lower and September oats A@Ac up.
Provisions closed 1212c higher to zoe
lower.
Weather Prophets Off.
Wheat opened weak because the bad
weather predicted yesterday for the
Northwestern harveSts did not mater
lallze. Gables also were Indifferent,
though later they dipped. With I'M
broken fair weather and the continued
heavy movement of winter wheat the
pears could see nothing but lower
prices. They started a heavy selling
movement and in short time over
100000 bushels of September were
thrown overheard. The crowd thought
the leading bull was receding from his
position. After the preliminary breaks,
influential buying, evidently for nanip-
ulators, started a good rally
Contract stocks were small and grad
Ing was poor. The big bull with near
ly 100000 bushels of September was
feared. Talk was to the effect that
an effort was to be made to control the
cash market, hold to the line and event.
ually take all the September long stuff.
Other traders said that this was only
a scare and that this big line was be-
Ing reduced on the bulges. The over
sold crowd bought literally and sent
prices up sharply, only to sell again
when the manipulators put on pres
sure again. September opened very ir-
regular, Is q 1sc to sole down at 69a4c
to 69Ac, sold up to 705s @70%c c, sagged
to roc, rallied again to 70%c and closed
weak, " a sc down at 69Hc Deem
Der sold between 671sc and 661ac, was
AOoeo oI11CAld01S IL DuIl NEWS ana Closed
Bc down at 6634 @66%c
Local receipts were 70 cars, 6 Of con-
tract grade; Minneapolis and Duluth
reported $50 cars, making a total for
the three points of 429 cars, against
353 week ago and SIS year ago.
Primary receipts were GA, 900 bushels.
agalnsteS22,000 bushels last year. Sea-
board clearances in wheat and flour
equalled 1900 bushels. Exporters held
fFCy, + ],
with December at 3Ac premium over
September purchases were irrational.
Break in Corn.
Corn broke early with wheat and on
good crop reports. One statistic Jour-
mai stated that the total harvests in
the principal grains would total l,10o.-
100000 bushels over last year. Corn
was said to be in promising condi-
ton and as cables were easy, prices
sagged. September started 3ac down
at o2c, dipped to 81 &c and then rallied
on fair covering and the wheat reac-
ton to 52asc. Other options held some
what steady on talk of manipulation in
December. Commission houses were
on both sides of the market and fluctu-
atoms were irregular. Receipts were
56l cars and reports were to the eff
rect that the country was almost bare
OF corn. Late weakness in other pits
started selling again and September
closed &c down at 515sc.
Oats again showed better strength
than anything on the floor. Heavy
buying, supposedly for the old-time
bulls, sent September up over 1c early.
Liberal offerings worked against the
bullish influences of good cash demand
and poor grading. The late corn weak
ness also caused some selling. Trade
was not large. September sold from
30Ac to S2B @32Ac and closed firm,
Il q asc up at 81 3sc. Receipts were 948
cars
Provisions were irregular under the
influence of outside liquidation and a
weaker hog market Lard was Of
fered most freely, but was absorbed
fairly well. Very good support was
under pork and ribs. September pork
closed sc off at $15.95; September lard
zoe down at 5000 and September ribs
121ac up at $9.62h.
The estimated receipts for tomorrow
are: Wheat, 500 cars; corn, 40 cars;
oats, 290 cars, and $4,000 head of hogs.
The leading futures ranged as follows:
Open High. Low Close.
Wheat -
Sept ..... 50 sgA 50. 7oa SO. 50 y 50. sez