The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-04-17
WHEAT is VERY ACTIVE
BUT A SEVERE BREAK COMES AT
THE OPENING
General Selling and Weakness for a
Time, but Heavy Buying by the Ar
mours Causes an Advance, With a
Higher ciosing-Corn and Oats De-
cline.

CHICAGO, April 16. = Trading in
wheat was active today and there was
renewal of buying by the leading
long, which resulted in a strong close,
May being Use higher and July Lie.
May corn closed Sac lower, with oats
off 1-4@3-Sc. Provisions were easy, the
May products closing from lie to
Z 1-2c lower.
A severe break occurred in wheat at
the opening, due to the improved
weather conditions and to the indiffer
ence with which yesterdays advance
here was received abroad. Initial sales
on May showed a decline of LIE to
L Use at rs lac to 76 Use, and July
was off 1-4@3-Sc to 1-2@5-8c at II lac
to II lie. There was quite general
selling for a time and the market was
decidedly weak, but later local traders
turned buyers and better tone de-
veloped, influenced to large extent by
small receipts and continued reports of
damage to the European crop. Toward
noon the market became quiet and
prices eased off, May declining to
rs 5-Sc and July to 20 Use. A sharp
advance occurred during the last hour
on heavy buying by the Armeurs, who
are said to have added nearly 100000
bu to their line, the most of todays
purchases consisting of the July deliV-
cry. a good export demand was also
an influential factor late in the day.
After selling up to II Use May closed
1-Sc higher at II 1-2c. July touched
Il 7-8c and closed lac higher at II 1-2
OIL 5-Sc.
Clearances of wheat and flour were
equal to $500 bu. Primary receipts
were 236,200 blu, against 10000 blu a
year ago. Minneapolis and Duluth re-
ported receipts of Ill cars, which, with
local receipts of IA cars. none of con-
tract grade n7a6a total ai11fc
three points of 125 cars, against 224
cars last week, and POI cars year ago.
Corn Mostly Weak.
Weakness in wheat and unresponsive
cables, together with more favorable
weather, caused weakness in corn at
the opening; and although the strength
in wheat later in the day was reflected
in the coarser grain, the May delivery
was little affected and ruled weak the
greater part of the session. July was in
better demand and was relatively firm
er than the nearby month. A promi-
nent provision interest was an active
buyer of July early. May closed with
a loss of 3-4c at 43 3-4c, after selling
between 43 5-Sc and A 3-Sc. July
closed 1-8c lower at "A Use. Local re-
ceiptS were 60 cars, none of contract
grade.
The improved weather and the weak
ness in corn and wheat brought out
liberal selling orders in oats at the
opening and the market ruled weak. A
better cash demand and small receipts
had bullish tendency on prices, how
ever, and prevented any serious de-
clines. May closed 1-4@3-8e at 33 1-3c,
after selling between SO 1-Sc and
SO Sac. Local receipts were So cars.
Provisions were quiet and there was
considerable selling for foreign account
A decline of from sc to 10c in the price
of hogs was an early depressing factor.
Stock yards people did most of the
buying, with some covering by shorts.
May pork closed 2 lie lower at $17.95,
May lard was off lie at 1882 1-2 and
ribs were down sc at 1882 1-2c.
The estimated receipts for tomorrow
are: Wheat, 20 cars; corn, 70 cars;
oats, 80 cars, and II, 900 head of hogs.
Range of Quotations.
The leading futures ranged as follows: