The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-06-12
SUMMARY OF THE DAYS TRANSACTIONS IN THE Markets
WHEAT GOES DOWN A PEG
BULLisH CROP REPORT EXPECT
ED AND A BEARiSH ONE COMES
Market at the Opening incIines to
Firmness, but Feeling Gradually
Changes and Commission Houses
Become Liberal SeIIers-Oats and
Corn HIGHER.

CHICAGO, June ia rather bear
1sh crop report where g. bullish one
had been expected. caused weakness
In wheat today, and July closed 1-8c
lower. July corn closed 18@1-4c
higher, and oats were up 5-8c, while
September provisions closed from
LIE to &c lower
The government crop report. show
ing the condition Of wheat up to June
l was great disappointment to the
bulls, and was the cause of a consid-
cradle decline in prices. At the open
ing there was disposition among
traders to regard the outlook as some
what bullish, and the market at the
start was inclined to f1rmness, with
July 1-S@1-4c lower, to 1-8@1-4c
higher, at rs 5-S@76c, but as the day
progressed the feeling gradually
changed and commission houses be-
came liberal sellers. Outside markets
We're weak, especially st. Louis, and
with selling by the Northwest and
Southwest and by longs on stop-loss
orders. the market yielded to the SELL
ing pressure and declined nearly a
cent, July selling off to rs Use. after
touching rs 1-Sc soon after the OPEN
ing. During the last hour shorts were
active buyers, which caused an upturn
in prices, and much of the early loss
was regained. The close was steady,
with July 1-8c lower. at Is $50
rs 3-4c.
Clearances of wheat and -four were
equal to 7S2,800 bu. Primary receipts
were 254,60o bu, against 10000 blu a
year ago. Minneapolis and Duluth re-
ported receipts of 1913 cars, which, with
local receipts of IL cars, none of con-
tract grade, made total receipts for the
three points of 205 cars, against 1873
last week and 179 cars a year ago.
Timely Rally in Corn.
Corn was firm early in the day on
unfavorable weather, but there was
plenty for sale on the advance, and
prices declined. The selling was led
by prominent provision interest, with
smaller longs following the lead. The
demand was largely from shorts who
secured profits. The selling was less
urgent late in the day, and the market
rallied, the early loss being all regain
ed. The close was firm, with July Is
@1-4c higher, at As lie. after selling
between AZ Use and 48 5-8c. Local
receipts were 343 cars, with of con-
tract grade.
There was a fair volume of trade in
oats, and the market was independ-
entity firm. There was free liquida-
ton during the first hour on the bear
lsh crop report, which caused a reac-
ton from the opening firmness, but
curing the latter part Of the day there
was a good demand for July, which
caused sharp upturn. The close was
strong and near the top, July being
5-8c higher, at SIC, after selling be-
tween So 3-8c and 81 1-8c. Local re-
ceipts were 145 cars.
There was little trading in provi-
sions, and after a rather firm opening,
IN sympathy with grains. the market
eased off and held steady the remain
der of the day. September pork closed
SC lower. at $3.50; September lard was
1-2@5c lower, at $8.95@897 1-2,
while ribs were down 2-12@ sc, at 1925
@9.27 IL. ea.-
The estimated receipts for tomorrow
are: Wheat, 20 ears; corn. 430 cars;
oats, 155 cars, and $4,000 head Of
hogs.
Range of Quotations.
The leading futures ranged as follows:
4 (bpoy, TJsO1, { r 1yT- I TSY0--