The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-08-03

CHICAGO. Aug All speculative
markets on the Board of Trade closed the
week with a strong rally. A tone much
better than had existed for weeks MADE
itself manifest in a healthy active trade
In most OF the grains, and although the
country side was not heavily in the mar
Ket, there was promise for much better
business with bugaboo of the July cor
ners laid at rest. Scarcity of contract
grains for immediate marketing-wheat,
corn and oats-made the shorts feel I'M
easy all the session, and although re-
ce1pts in wheat still exceed those of last
year, the excellent cash demand especial
ing prices all around. At the end Sep
TENDER wheat gained 5s@%c, Septemb Der
corn 1@1hc and September oats "a D%c
September provision closed 15c to 275zc
higher.
Bearish conditions were arrayed against
wheat prices at the opening of trade
Receipts locally were one-fifth more than
We're expected, the weather was excellent
and the talk was for good spring crops
Liverpool had a holiday, but London and
Paris were firm and September showed
tract arrivals were small, four cars to-
day out of 337 cars received.
Scurry Among Shorts.
This started much comment and gossip,
which had a trend toward curtailed re-
ceiptS soon, now that the rush to wheat
was supposed to be over, and CO Y e a
scurry among shorts to cover. New York
and leading bull interests were buying
good
advances were made quickly.
Liquidation at top prices brought slight
dips, but the local sentiment was so bull
ish that the close was strong Much of
the strength came from the absence of
free offerings. No. l northern cash
wheat also was selling &c over September
prices. The near option was bought
more literally than December and ad-
vanced over the winter month from 1 yes
terday to 15sc higher at 59s @70hc, sold
to to- 7oM c. and closed strong, = @Ae up at
7OB @7OAc. Minneapolis and Duluth
reported 122 cars, a total for the three
Northwestern points of 459 cars, against
Isl last week and 416 a year ago. Sea-
equaled $4,000 bushels. Primary re-
ceipts were 1.051 900 bushels, compared
to 100000 bushels last year.
Corn receipts amounted to only So cars,
of contract grade. With such scanty
receipts as this market has had for the
last week and with still smaller esti-
vate elevators turned out nothing. The
cash demand was excellent and in addi-
ton the Fasteners who expected to be
Hooded by the outpouring of cash corn
that was brought to market by the July
corner, found their stocks so depleted
that they had to increase bids 11sc to-
day to secure stuff.
Turn From Oats to Corn.
Still another bullish factor was the
buying by the houses recently heavily in
terested in July oats. There was no sell
ing, save near top figures for profits and
the result was a strong and steady ad-
vance. September sold from 561ac to
5Sc and closed strong, 1@11sc up at So
s5fsc. Oats were in excellent demand,
and the pit ruled firm and active The
: 1irnness in other grains and the premium
OF Ice for some cash grades over Septem-
Der options with good cash inquiry for
shipment pushed prices up. There was
a little profit-taking, but the bull senti-
ment ruled uppermost. September sold
from 321sc to $3.50 and closed firm, Is a
p higher at S27s @33c. Receipts were lib
1e era at IL cars. Crop prospects con
tiaue good -z>,ss $3.50
| Provisions We're fairly active and for a
time unsettled. The weaker hog situa-
ton and pork selling depressed prices
early, but very good demand for lard
and the reduction of stocks during July
influenced late buying and prices closed
strong. September pork closed 15c up
at $16;S5; September lard 15c higher at
$10.55. -
Estimated receipts for Monday: Wheat
265 cars; corn 40 cars; oats, 120 cars;
hogs, 5000 head.
The leading futures ranged as follows: