The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-01-27
WHEAT HIGHER STILL
BUT ADVANCE Is NOT MAIN
TANNED AND CLOSE is LOWER
Market Very Nervous Affair, With
Only Moderate Trading-Leader of
the Bull Campaign Is on Both Sides
Corn Higher and Oats Down Peg.

CHICAGO, Jan. rs. A new high
price for this seasons crop was made
today, when May wheat sold at 80 3-4cs
but the advance was not maintained
and the close was weak and 3-8c lower.
May corn closed 1-8@1-4c higher, while
oats were Lac lower. Provisions clos
ed steady, with the May deliveries I'M
changed to 2 1-2c lower.
The wheat market was a very ner-
vous affair and trading in general was
only moderate. The leader of the bull
campaign was on both sides of the
market, but the total amount of bust
ness for his account was small. There
was considerable selling early on ca
bleS and May declined to 81 SAC after
opening shade to 1-S@1-4c lower at
81 Use to SIC, but on reports that
France was buying heavily, there was
a quick advance, the price selling up
to 80 5-8c. After another decline there
was a rally to 80 SAC, but an easier
feeling developed in the latter part of
the session and the close was weak
and 3-8c lower at 81 5-8081 3-4c, af-
ter selling at 81 1-2c. The news, while
OF all sorts, was mainly bearish Rains
IN California, reported increased offer
lngS by Argentina and an increase in
the exportable surplus, together with
rains in India, all combined to induce
freer selling.
Weakness on Primary Receipts. 49,
The late weakness was on large pri-
mary receipts, which were twice those
of last year, being 1,165,000 blu, COM
pared with $4,000 a year ago. The
cash demand was less urgent and late
reports showed a slight export bust
ness. The amount on passage showed
decrease of Csc, 900 bu, and the visible
supply decreased $4,000 blu. The clear
anceS of wheat and flour were equal to
$4,000 bu. Minneapolis and Duluth
reported receipts of S38 cars, which,
with local receipts of IS cars of con-
tract grade, made total receipts for the
three points of 903 cars, against 865
cars last week. and 312 cars year ago.
There was a good trade in corn and
the prevailing sentiment was quite
publish, in spite of statistics which
We're generally bearish. Primary re-
ceipts were large and had weakening
tendency, but the cash and export
demand more than offset this influence
The buying was mainly by commission
houses and local traders. The close
was firm, with May 1-8@1-4c higher
at As 1-8c, after ranging between
A Use and As 1-2c. Local receipts
were ass cars, with none of contract
grade, the weather being rather I'M
favorable for both the movement and
grading
Oats Dull and Eeasier.
Oats were dull and the opening was
easier on liberal receipts. The strength
in corn was a help and caused a bet
ter feeling early, but selling by brok-
ers and local traders caused a reac-
uon and the close was easy, with MAY
lac lower at 1896 1-8c, after selling
between Sc and rs 1-2c. Local re-
ee1pts were All cars.
A strong hog market caused firm
ness in provisions at the start, but the
early strength was soon lost on selling
by commission house, supposed to be
for the account of packers, and prices
held barely steady. The volume of
trading was light. May pork closed
unchanged at $3.50, May lard was
2 Lee lower. at 1852 1-2, while ribs
We're unchanged at 1927 10.
Estimated receipts for tomorrow:
Wheat, rs cars; corn, $50 cars; oats,
800 cars; hogs, $4,000 head.
The leading futures ranged as follows:
| a. TT