The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-07-15
GRAIN HAS A SLUMP
1T is BROUGHT ABOUT BY A HEAVY
MOVEMENT IN CORN
Everything on Change Bearish and Fall
of 5Ls Cents In Corn Leads to Talk of
an End of the corner-Wheat Trading
Shows Weakness.

CHICAGO, July 14.-Heavy movement
In corn held the attention of grain trad
ers today, and brought slumps all around.
technics of last week, although today it
looked like the falling stick instead of
the rocket flight. Everything on change
the thudding drop of 5hc in July corn
was most important, and caused talk of
an end of the corn corner. Closing loss
TENDER corn, Ac for September wheat
and is @1Ac for September oats. Pro-
visions closed 275c lower to TIC higher
the bulls tried to give several reasons
for the decline. Probably the true cause
was that corn in general supply is NOV
ing toward Chicago at rapid rate. Ever
since the talk of corner in July OPP
tions, elevators and cash handlers have
been busy making contract grade corn
bulls had to face receiyyts of 472 cars, 119
of which were contract grade. In addition
TO THIS private elevators made and put
out 207 cars and 119, 900 bushels, a total
of over 100000 bushels of contract stuff.
Crowd Sold to a Man.
The fair weather of the last few days
was just the sort to help in grading and
with the reported estimate of 945 cars for
tomorrow, which would probably be aug
mented to over 1000, cars by private
houses, the crowd led by the elevator
people. sold to man. There was also a
disposition to believe that the board of
ginal price for corn, so that both longs
and shorts could be called heavily
# such 1ftiGn Is taken BY the board
against the corner. Early trading was
rather light, but of a bearish cast. When
the estimate sheet was posted, July sold
concessions literally. Every sale had to be
made at good concessions to the buyers,
and from 8Sc the cornered option foun-
dered and thumped to S01sc. September
was weak on the general rush Of corn to
market and opening shade to A@%c
lower than Saturday, at 61A @61hc, de-
cclined, though gradually, and closed weak,
from its bottom price, but closed very
weak. with loss of sc, at Sic.
Weakness in Wheat.
Wheat ruled weak after momentary
firmness at the opening, on prospects of
rains. Cables were lower in Liverpool
Paris was closed, and receipts showed a
heavy percentage of new wheat. The Wis
ible supply increased $4,000 bushels,
b1sheis last Year These i influences c,GgVt to-
gether with those attendant upon the corn
break, offset a few showers in several
ing freely, and September wheat, which
opened a. shade lower to k@Ac higher,
at 1917 @73%c, declined steadily to 7B@Ac
higher, at 1914 @73%c, declined steadily
as the session advanced.
Primary receipts were fairly large, at
SS6,0oO bushels, against 100000 bushels
last year. Local receipts were SO cars,
s Of contract grade and IS of new stuff
Minneapolis and Duluth report 534 cars
making a total for the three points of 627
cars, against LOSS cars last week and
644 a year ago. Worlds shipments were
1901, 600 bushels, against 6,263, 900 bush
els last week and Z, 1872, 900 bushels a year
ago. BreadstuffS on passage decreased
2.28S,C0O bushels. Seaboard clearances in
wheat and flour equaled 100000 bushels
The estimate of $50 cars for tomorrow was
received bearishly.
Setback in Oats.
Oats had something of a setback to-
day, as result of free offerings by farm
ers OF the new oats in order to take adj
vantage of high prices. Offerings in Illi-
nOis were particularly liberal, according
to the reports. Favorable weather over
Sunday and a general improvement in
crop prospects precipitated selling. Sep
TENDER sold off over 1c, selling as high
as 331ac at the opening and c,asing weak
Us @1Ac down, at 92Ac. Receipts were
81 cars.
Provisions were rather quiet. but held
up in the face of a weak hog market.
Lard was inherently strong, and aided
other products on the list. Outsiders
bought early, but both pork and ribs lost
most of their advances. September pork
closed 21sc lower at $1S.671@; September
lard. 71ac up, at $11.42h, after touching
$11. As, and September ribs a shade high
er, at $10.85@10S7h.
The estimated receipts for tomorrow
are: Wheat, $50 cars; corn, S45 cars;
oats, IT'S cars, and TO- 900 head of hogs.
The leading futures ranged as follows: