The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-02-28
CORN The CHIEF THING
STRENGTH THEREIN is A HELP
TO WHEAT AND OATS
Big Trade, With Continued Advance
Under BuIish Conditions - More
Outside Interest Manifested-Firm
Undertone to Wheat, but Not Much
Trading.

CHICAGO, Feb. 27.-The corn pit
was again the center of attraction on
the board Of trade today, the strength
in that market aiding other grains and
higher prices were realized. May
wheat closing 1-2c higher May corn
up Sac and oats up 1-S@1-4c. Pro-
visions closed firm, with the May prod
ucts from 1-2c lower to 15c higher
There was a firm undertOne to the
wheat market, but the trading was only
moderate. There was no buying of
any Importance, the shorts doing the
most of it in efforts to cover, and most
of the business was for local account.
The only bear factCr of note was the
increased shipments from Argentina.
but this was easily overbalanced by the
aunfavorable weather. firm markets in
the Northwest and a fair export de-
mand, together with the extremely
bullish sentiment in corn. The opening
was about steady, with May a shade
lower, at II 1-S@77 lac, and after
selling at II 1-8c, there was a gradual
advance. The market became quite
active toward the close, and shorts
covered freely. giving an added impetus
to the upward tendency. The close was
strong, and at the. top for May, at
n 3-4c, gain of 1-2c. Clearances of
wheat and flour were equal to $4,000
bushels. Primary receipts were AL,
500 bushels, against 511,600 bushels
a year ago, Bradstreet's exports of
wheat and flour for the week were equal
to 2,656,OOO bushels, compared with
1924 bushels a year ago. Minneapolis
and Duluth reported receipts OF 297
cars, which with local receipts of 7
cars, none of contract grade, made to-
tai receipts for the three points of 304
cars, against 331 cars last week and
4O6 cars year ago.
Corn Furnishes Much Business.
There was a big trhde in corn again,
and prices continued to advance under
the generally bullish conditions. I'm
favorable weather for the grading and
movement together with a better cash
and export demand were the main
strengthening influences. Provision
houses were active buyers and there
was also good commission house
demand, with more outside interest
being manifested. Cables were some
what lower, but had no effect on the
market. The close was strong and at
the top for May, at At lac, a gain Of
3-4c. The range for the day was be-
tween 46 3-8046 1-2c and Al lac. Lo-
cal receipts were POI cars, with 1 of
contract grade.
Oats ruled firm, in sympathy with
the strength in corn and on q fair
cash demand. Trading was light, with
moderate buying by commission hous-
es. Offerings were small. as were the
receipts, and the weather was unfa-
vorable for the movement The close
was firm and 1-8@1-4c higher for May,
at 35 Use, after selling between 35 $50
and 30 Use. Local receipts were 100
cars.
Provisions were firm, with trading
centered in pork, which led the other
products in strength. There was some
selling on lower prices for hogs, but a
good demand from commission houses
and packers gave support to the mar
ket, and the close was 15c higher on
pork, at SIS. May lard closed 2 1-2c
lower, at 1852 1-2, while ribs were up
1-2c, at 1885. The volume of bust
ness was light.
/ ! The estimated receipts for tomorrow
are: Wheat, 20 cars; corn, 800 cars;
oats, $50 cars, and 1000 head Of hogs
The leading futures ranged as follows:
/ orb,