The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-04-25
CHICAGO GRAIN
Semi-Panic mt the Opening, but Lost
- Heads Are Found.

Chicago, April 25.-Pandemonium ruled the
first half hour Of grain speculation to-day.
and fair traces OF it in Kansas preciptated
selling movement in wheat at the open
Ing that for time promised panic. The
only sentiment shown by traders was to stop
the loss they had incurred by buying at
high prices on the dry weather scare Iowa
had very heavy rain, and Illinois, Missouri
and Nebraska had general rains. Even In
spite of the remarkably firm English cables
everybody turned sellers. Commission houses
had big liquidating orders, many of them for
profits; but soon these changed to forced sales
to stop losses: There was almost no demand
wheat opened 1k@1sc to 11k@1%e depressed,
with sales as wide apart as 74Ac to 73Ac
July started as irregularly as May, at 76c to
75Ac, and weakened Nc further. Gradually
the trade began to control itself and specu-
lators viewed the proceedings calmly. Then
prices began to crawl up again as shorts COW
cred, their accounts at liberal profits. May
worked up to 1880 and July steaded around
1880. Local receipts were 26 cars, none Of
contract grade. Minneapolis and Duluth re-
ported 10S cars, making a total for the three
267 year ago. Argentine shipments were
1,4s4,oeo bu, compared to 100000 blu year
ago
sided there was fairly active market with
prices inclined to hang steadily at a liberal
decline. May wheat closed 111k@1Ac lower at
74nc and July nc off at 7514 @75Rc.
a Gsss APt es Msy Sees ss,y e.
Cash: No red. s21k@ss1zc: No 8 red, s01s
Gssc; No. hard winter, 76k@771zc;;2 No. 8
hard winter 7515@771sc; No. L northern
spring 761h@77Hc; No. 2 northern spring,
74h075hc; No. 3 spring, 7o@741sc.
The corn pit for a time was even more iex-
cited than wheat. Heavy rains had fallen
in most Of the corn growing states and,
though dry weather has not been much of a
scare to corn bears, the effect on feed by such
rains was expected to be bearish. 81 The sym
patty with the wheat break, however, was
very depressing. Every trader had plenty
OF stuff for sale. Country offerings were re-
ported larger and, though Liverpool cables
/. were steady, corn slumped worse than wheat
i N01Ac lower, at 621Ac to 611kc. and weak
ened to 61Mc. July opened 1z@1cS down. al
SAC to 63hc, and touched 6212c before traders
/ gained control of themselves. Then many
/ who were natural bulls on influence aside
! from the recent wheat advance became
from the recent wheat advances became nerv.
/ Gus because they sold and. with investors
i Jumping into. the market. sent prices up
1 ward again almost as quickly as they had
! fallen. May finally steadied at 62Ac and july
!; at 631kc. Receipts were 119 cars.
4 Corn had a fair reaction that con inued fol
some time after the crowd found their senses
and May sold up again to :6214@62sac; sant
both May and July closing depressed -1c re.
3spectively. at 62A @e311ae. i.
4 Close: Anril, s2l1c; May. 6214c;; July, 6311sc
4 september. 62s@62Ac;; December, 1886. Cash
4 No: 3. e2Ac. 4.. s s$ S
Cats had a small trade early. but were
/ depressed. May opened Nc down, at 42c
4 weakened to 415sc and reacted to s42A e Re
4 CENTS were 157scars. 81 III Il. ~
Close: April 4; JULY asc