The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-01-16
MISUNDERSTANDING
BUYING BY LEADING BULL CHIEF
THING OF THE DAY
All Grain Pits Strong and Active and
Leaving Off at an Acknowledging
in Wheat Shade Lower, Followed
by Rise of Over 2 Cents.

CHICAGO, Jan. 15.-AIl markets on
the Board Of Trade were active and
strong today, and May wheat closed
I-oc higher. May corn was 1-4c high
er' and oats were up Use. May pro-
visions closed 10@22 1-2c higher.
The wheat market was a zone man
affair, active buying Of May by the
leading bull. The price of that com
modify ruled extremely strong, adj
Vancing up to Is 7-8c, and closing at
~ 3-4Q77 7-8c, with a gain of Use
after ranging between rs 5-S076 3-4c
and n Use. The opening was a shade
TO 1-S01-4c lower, at rs 3-4c to rs 7-Sc,
the easier feeling at the start being
due largely to the disappointing Liver
pool cables, which failed to respond to
the advance here yesterday, the market
there being about steady. The easy
tone was quickly diSpelled however,
On a good demand from the leader of
the longs, and the buying from that
source was continued throughout the
entire day, it being reported that over
100000 bu were added to his line.
covering by shorts and buying by
commission houses caused a sharp up
turn near the close Strong markets
In the Northwest and a good foreign
demand were also strengthening in
huenceS. Duluth was especially strong.
the price there being 1-2@5-8c over
the market here. Advances of wheat
and flour We're equal to $50, 600 bu.
Primary receipts were ass, 400 bu,
against 521, 400 bu year ago. Minne-
apolls and Duluth reported receipts of
-2S3 cars, which with local receipts of
10 cars, with none Of contract grade,
made total receipts for the three points
OF $40 cars, against $40 cars last week
and 4S1 cars a year ago.
No Special Features in Corn.
There was only a moderate trade in
corn, and no special features were in
evidence. Commission houses were the
best buyers, and the offerings came
largely from locals. At little easiness
was manifested at the opening on ia
VOrable weather conditions, but the
strength in wheat caused a rally, and
the May closed firm, the close being at
about the top. May closed 1-4c higher.
at A 1-2@44 5-8c, after selling be-
tween A 1904 1-4c and Al 5-Sc. Io-
cal receipts were 179 cars, with only
one of contract grade.
BulliShneSs rulesd in the oats pit, and
there was considerable covering by
shorts, while longs added still more
to their lines. The offerings were
rather light, and We're principally in
the way of profit taking. The close
was strong, May being Use higher, at
w " oANC1 fdA1SA1AS OSANS0n 0-OC
and Sc 3-8c. Local receipts were larger
but were still only moderate, 159 cars
being received here
Provisions ruled active and strong
after opening higher on smaller re-
ceipts of hogs and a strong market at
the yards. The main support came
from packers who purchased freely,
but offerings were light and came out
only in small lots. The strength Of
grains also q hJ111
pork closed % 1-2c higher, at
1857 IL; May lard was up 1Oc, at
1887 IL, while ribs were 15c higher,
closing at 1910.
The estimated receipts for tomorrow
are: Wheat, 80 cars; corn, 29O cars;
oats, 100 cars, and $4,000 head Of hogs.
The leading futures ranged as follows: