The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-01-21
CHICAGO CHANGE.

CHICAGO, Jan. 20.-Rain and snow
breaking the long drought in the winter
wheat territory took all argument away
from the bulls in the grain pits today
and prices broke badly all around Nav
wheat closed with a. loss of 1a4c to Use;
May corn 11sc lower, and May oats &c
down Provisions lost from 10c to 1712c.
At the opening in wheat there was an
attempt made to support the market on
the early small break but it was of no
avail. Gables Were higher, but a small
rally was poorly held. Everywhere in
the suffering winter country relief was
at hand. Additional bearish news arrived
IN the shape of weekly worlds statistics.
Worlds shipment were reported 8754 900
bu, against 5,247,000 bu last year Bread
StuftS on passage We're increased LISP 900
bu, and the visible instead of being de-
creased as was expected, was 1,196,6J0 blu
increased. These Influences set long hold
ers to unloading excitedly.
Prices at outside. points were rapidly
dropping under Chicago quotations. The
Louis, frightened at the prospects Of
plenty of wheat from the winter coun-
try, dumped something like 4,000,0 900 bu
IN this market. Stop-loss orders were
executed freely, and May, which opened
ssc to 5sc lower at S05sc to S03sc, and had
touched SOAc, slid to 1880. The general
opinion prevailing among traders was
that longs had oVerStayed in the market
and must now sacrifice profits to get rid
of their wheat. Contrary to former
breaks on this campaign, there was very
little demand at low prices. May closed
very weak, 134Q17sc down at 791sQ79Ac.
Receipts were So cars, two of contract
grade; Minneapolis and Duluth reported
SOL cars, a total for the three points of
COZ cars, against ,016 last week and COG
a year ago. Primary receipts We're 900
5bu, compared to 900 a year ago. Sea-
board clearances equaled only $4,000 blu.
Corn showed unusual early strength
considering the weakness in wheat.
Gables were higher on the theory that
the snow and colder weather predicted
would necesSitate heavier feeding to
stock, traders began to buy In. May
opened steady and at once advanced. The
small amount of shipments last week to
Europe and the decrease of the amount
of corn on passage We're bulliSh i2cen-
tiveS. The total quantity on ocean passage
is 8,05600o bu, or about half the amount
In that position year ago. In sympathy
with wheat, however. May corn, which
had touched 65Ac, dropped to 63ssc. Bulls
bought steadily on the decline, and held
to a great part of their stuff. May closed
weak, 11sc down at 6S5s Q6S34c. Receipts
were 12S cars.
Oats had an early bullish market. Fol-
lowing the corn strength and on bullish
oats statistics this pit opened steady, and
were the principal sellers. May closed
PC down at 455sc. Receipts were 181 cars.
Provisions opened fairly strong on an
improved hog market, and the early
strength in coarse grains. There were
some early buying orders but this de-
mand was light, and when wheat broke
selling became general. Packers did some
buying on the decline. May pork closed
1719c down at SIG. IS; May lard 10c lower
at $9.65, and May ribs 10Q121Ac down at
SIS. 606D8. 6215.
The estimated receipts for tomorrow
are: Wheat, As cars; corn, los cars; oats,
1876 cars, and $1,000 head of hogs.
The leading futures ranged as follows: