The Saint Paul globe., 1902-07-26
OATS SELL HIGHEST
THEY EXCEED THE QUOTATIONS OF
BOTH WHEAT AND CORN
Bull Leaders Absorb Cash Oats In Order
to Keep Them From the Shorts-Lower
Cables, Good Weather and Dull Trade
Depress the Price of Wheat

CHICAGO, July 25.-Grain traders be-
neld the odd spectacle today of oats sell
ing higher than wheat and corn, yet the
phenomenon caused hardly a ripple in the
duil and uninteresting business routine
July new oats sold at 72c when a few
shorts wanted the stuff. Cash oats were
as Ilc IN order to keep them from the
Shorts. While oats were selling in drib
lots at these fancy figures. September
wheat was around TING, and the hitherto
fancy July corn at something under SIC.
Generally, however it may be said the
July corners were resting. Shorts in
Wneat, corn and oats in that month
seemed penned in by the big interests
The other markets were doing little be-
cause of fair weather, good crop reports
and other bearish influences which, in
turn, however, had little effect, because of
the fears of July manipulation. In the
end September wheat closed 3sD1sc down,
September corn Bc lower, July corn 11sc
July oats Bc higher. Provisions were
very irregular and closed 121.c up to 17hc
lower.
How Wheat Went.
Wheat worked lower on the influence
OF lower cables, good weather and a dull
trade. Crop advices continued favorable,
and receipts bore out the reports as to
quantity although grading was very poor,
as Of late. The foreign market weakness,
together with the excellent country pros
poets seemed to undermine the confidence
OF holders. The strike of telegraph mes
exchange, interfered with business, and
had it's modicum of bearish influence
July showed itself very sensitive to sup
ply or demand and shorts as usual were
very nervous. The price hung around TIC
and closed Ac down at 76Ac. September
was offered rather freely Opening, h a
Nc to a shade lower at 72@721sc, that
option dipped to 71Bc and closed weak,
Is q 12c lower at 71Ac. Receipts were 205
cars, of contract grade; MINNEAPOLIS and
Duluth reported 2O2 cars, making a total
No I'VE litlte- nfA q
a week ago and 357 last year. Primary
receipts were 1895. 900 bu, compared to
l,031, 900 bu last year. Seaboard clear
ances in wheat and flour equaled 439 900
bu. Argentine shipments were 40, 900 bu
for the week against 100000 bu last year.
Corn DuIIer Yet.
Corn was even more dull than wheat
The wheat weakness, together with good
crop reports, had a depressing influence
insthe corn pit, and very free offerings by
a leading house broke September prices
1c. Trade in July was small and prices
held near &c until shortly before the
close, when little offering and no incli-
nation on the part of the shorts to absorb
broke the price to a weak close at 65hc.
There was a momentary support in Sep
tember, but the effect was hardly noticed.
september sold from Gle down to 60Mc,
and closed weak 7sc lower at 60Ac. There
was feeling that July was simply slum-
bering before it burst forth into vol
cano-lfke eruption. Receipts were 247
cars, 81 of contract grade.
Oats ruled lower in the deferred options
in sympathy with other grains July
shorts who did not settle yesterday were
frightened by the rumor that because they
would not settle at roc the price was to
be pushed still higher.
sE Oats at Record Price.
In consequence of their bids for several
"fves" July new sold at 72c the record
price since the civil war. This was the
only feature. Trade otherwise was duh,
offerings in the new deliveries were more
free and prices dipped. After the early
advance July dipped back and closed only
1sc up, at 7OBc. September sold between
34Nc and 337sc and closed weak, 81 "a hc
down at 34@34Bc. Receipts were 140
cars.
Provisions were irregular, although not
particularly active. Early advances in
the yard hog market and a good support
by brokers caused brisk advance. Lard
especially shot up, September lard once
more selling at $11. The early high prices,
however, seemed to be ruse by the
packers, who at once unloaded on the
little fellows, depressing prices badly.
Lard alone held un. Late trade lapsed into
dullness. September pork sold from
$17.57A to SIT 10, dipped to $17.25 and
closed 17Hsc down at SIT .37k. September
lard closed 12sc up at $40 921s and Sep
tember ribs, after selling from SO. 621a to
$40. 40, closed weak sc lower at SO so.
Estimated receipts for tomorrow:
Wheat, 1870 cars; corn. 265 cars; oats, 1870
cars; hogs, 10000 head.
The leading futures ranged as follows: