The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-04-19

CHICAGO, April 1S-Grain speculation
was nervous today. Traders realized mat
ram must come, soon to the relief of the
winter crop and prices swung upon this
pivot. Every breath of rumor suggesting
moisture affected prices. In the end the
crowd turned beaTish and May wheat
and May oats Zee lower. Provisions
closed TIC to 121bc depressed
There was not the same volume of bust
ness in the wheat pit as for several days
past. The crowd feared possible rain
news might cause a break at any mo-
ment. There was a quantity of bullish
news, but under the prevailing senti-
ment IL was lost sight of and the trade
seemed deaf to anything but rain posi-
bihties. The condition, as one expert
put 1t, is one of dryness from Pennsyl-
Eanla TO Texas and north to the North
well what can happen if rains do net fall.
The extreme of the dryness centers in
Kansas. No rain save an occasional
shower has fallen in twenty-four hours
and the forecast was for clear, dry
weather. Kansas City reported high
winds and bugs injuring Kansas wheat.
One statistician put up claim of five
to ten points injury in Kansas since
April ]. Argentine adyices stated that
the outlook was bullish-the government
helping the provinces to buy seed wheat.
Gradually Bears Prevail.
At the opening there was a short-lived
squirt, May prices starting 1sc to sc up
at 749sc TO 747sc. Cables were only steady
and under the influences of the prevailing
what erratic in their fluctuations. Grad
ually the bears prevailed. There was a
rumor of rainfalls west and profittaking
and some short selling pressed until May
closed weak, 5s024c lower at 7334G737sc.
Local receipts were 50 cars, none of con-
tract grade. Minneapolis and Duluth re-
ported 98 cars, making a total for the
three points of only 1876 cars, against 1877
last week and 800 a year ago.
Primary receipts were $4,000 bu
compared to 391, 600 bu last year. Argen-
tine shipments for the week were 992 90
Blu, against 1,076,0O0 bu the week before.
Seaboard clearanceS in wheat and flour
e0ualed 45l 900 bu
Trade in corn was inclined toward the
waiting attitude Business was meder-
atcly active at times, but the uncertainty
of the course of the wheat market was
a bar to marked sympathetic action Re
ported Improvement in country offerings
was drag on the bulls and a break at
ST Louis early in the session was re-
Elected by dip here. The weather is not
much of a factor in corn, save as 1t af-
fects wheat. oats, hay, etc.
May started &c to 1ac higher at 622sGD
627sc, but at once broke. Rallies followed
wheat somewhat, but the market showed
beariSh tendencies.
Oats Trade Fairly Sharp.
Oats contributed strength at times. The
i Ia wheat weakness brought May corn
~ d weak close, CSC DOWN at &c. Re-
ceipts We're only 66 cars
Oats had fairly sharp trade Business
was big in general and prices fuctuated
rapidly. The strength in other grains and
the fear that the dry weather would be
more dangerous to oats than to any other
grain pressed seed prices up at the OPEN
ing. Receiving and commission houses
bought literally and the market seemed
to take on independent strength Later
considerable selling pressure came out
and the bullish aspect OF the pit under
went a change. Wheat and corn weak
ness were only moderate factors in the
setback. May sold between 4+c and 43c.
closed weaker at nc down at the latter
price Receipts were 126 cars
Provisions looked like a manipulated
market today. Though trade was quiet,
prices early were strong on the grain
strength. The hog market was only
steady and may have contributed TO a
growing weakness, but prices were press
ed by the local bears. Packers supported
but little. May pork closed 121bc lower at
Sl6.A; May lard PIC down a $975 and
May ribs 21A0t5c lower at $92009 .221b
The estimated receipts for tomorrow
are: Wheat, 40 cars; corn, 50 cars; oats,
l45 cars and 5000 head Of hogs.
The leading futures ranged as follows: