The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-04-09
BEARS TAKE IN SAIL
THEIR LACK OF CONFIDENCE IN
BIG WINTER WHEAT CROP AL
LOWS GRAIN TO Go UP
WHEAT TRADE IS DRAGGING
Corn RecuDeratcs After a Short Trip
Down HiiI-Buying Is Active and
May Closes at It's Old
Top Figure.
WHEAT TRADE IS DRAGGING

CHICAGO, April 8.-After having had
things comparatively their own way for
some time, bears in grain speculation
WaVered from their position today and,
becoming less confident Of a big crop
OF winter wheat allowed prices TO be
pushed up. AT the close May wheat
was 9sc higher, May corn %05sc up,
and May oats 7sc lower. Provisions
closed Z12c to TIE higher.
Wheat trade the greater part of the
day was dull and dragging. At the out
set cables were barely steady and for
eIgners were Indifferent There was al
most no outside interest, farmers being
occupied with their farm work. Sep
TENDER was sold early in liberal amounts
and yesterday small gains were soon
wiped out.
The first bit of decisive news was the
report of $4,000 bu seaboard> clearances.
This gave a decided snap to the market
for time, and resulted in an upturn in
prices. The early short talent covered,
and there was some fair buying on the
anticipation Of bull turn before deliV
cry day.
Receipts continue very light and crop
reports in some instances have been
rather unsatisfactory. The general ten
or of the market after the extreme carly
dullness was much improved, though the
advance was trivial.
May wheat opened 1SQAc to a shade
lower at 711sGlTAc, eased to Tic and rail-
lied quickly to 1Ac. The close was
firm, May CSC higher at 7l3sW7lAc. Lo-
cal receipts were seventy cars, one OF
contract grade; Minneapolis and Euluth
reported 165 cars, making a total for the
three points of 235, against 276 last year.
Primary receipts were $4,000 bu, COM
pared to $4,000 bu a year ago. The sea-
board reported fifteen loads taken for ex-
port.
Corn Incorporates From FAN.
Corn, which has seemed to be without
friends for some time past, started III
again today on the down hill road. Ca
bles were lower, trade was dull and there
was moderate liquidation. Sellers have
been somewhat diffident for day or
two and the bear side has been aided
mostly by tired longs and a few cautious
short sellers. The bear tendency, now
ever, has left large short interest
Trade therefore, needed only the upturn
in wheat and a short estimate or only
! thirty cars, to be received at this polnt
tomorrow, to set shorts covering heaVlly-
The dullnesS which lasted TIL almost
midday gave way to active buying and
May corn advanced somewhat buoyantly.
May got as low as 5712c early, but closed
strong at its top figure, a4@7sc higher
at 5S$4c Receipts were 50 cars. Two
| loads were taken at the seaboard.
Free Selling of May Oats.
There was free selling of May oats,
| caused by an increase of $4,000 bu III con-
tract stocks Corn weakness kept prices
down for a time and the rally brought
only partial recovery. Trade was not
| heavy, nor was IHe llucCu1IIoil VIZ 80 80
| tember and July had small trading. May
/ sold down to 417sc and closed steady, 1sc
! down at 423sc. Receipts were 125 cars.
| Provisions were only fairly active
| There was free selling early on the part
| of packers and prices declined. Some
| support was offered late and on the pull
| ish hog situation and a fair cash market,
the the list rallied and advanced to a steady
| close May pork sold as low as Sl62t12
/ and closed 212c up at $l6.45 May lard
| closed PIC higher at So. 80, and May RIBS
| 712c up at $SS2la.
The estimated receipts for tomorrow
| Wheat, z cars; corn, 30 cars; oats,
! G5 cars. and p 900 head Of hogs.
Total sales for the day, 7l5,400 shares.
The leading futures ranged as follows: