The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-11-21
WHEAT TAKES A JUMP
DECREASE OF STOCK AT DULUTH
THE MAIN CAUSE
Receipts In Northwest Are Small, in Ad-
dition, and These Conditions Give the
Shorts Another Scare-AII Grains Ad
vance Materially.

CHICAGO. Nov. 20.-A big decrease in
the contract stock of wheat at Duluth,
with continued small receipts in the
Northwest, gave shorts another scare to-
caused a sharp advance in prices, De-
cember closing 1850 higher. December
corn was up 1A@19sc; oats were 1@11sc
higher, while January provisions closed
from 2 PC lower to 5@7kc higher.
The demand for December wheat from
short interests was extremely urgent,
owing to the critical situation in the
Northwest. and, with but small offerings,
entire day. The sentiment was bullish
from the start. higher cables and small
receipts IN the Northwest being incentives
that brought out good demand with
shade lower to shade higher at 100
1850, but, with active buying by shorts
and local traders, the prices advanced
rapidly. On the advance there was sell
short account, which resulted in the
market easing off slightly at times, al
though the tendency was constantly to-
ward higher level The report of big
decrease in the stock at Duluth for the
week was an added cause of anxiety to
the shorts, who are beginning to fear they
will experience considerable difficulty in
securing wheat to apply on December
contracts. A private estimate showing a
greatly reduced crop in the Northwest
was also a bull factor. The strength in
December helped May, but the month did
not show as much advance as the nearby
delivery. After selling UP to S012c, De-
cember closed 1$sc higher at sos @S01sc.
Clearances of wheat and flour were
equal to 182,200 blu. Worlds exports for
the week, according to Bradstreet's, were
2,974,OoO bu the smallest weeks total for
two months. Primary receipts were
1,O45,300 bu, against 1,112,100 bu a year
ago. Minneapolis, Duluth and Chicago
reported receipts of 1888 cars, against 8SS
week
Corn Very Strong
Corn for December delivery was espe-
cfally strong, owing. to a scarcity of Of
ferings, while at the same time there
was a good demand from shorts through
out the day. Strength in wheat, small re-
demand were factors in creating a strong
situation. December ranged between 42A C
and 1875 @43%c, and closed 1A@1%c
higher at 1875 @4SAc. Local receipts
Oats advanced sharply on buying by a
leading bull, which was accompanied by
large purchases for short account. The
strength in other grains and a better
selling between 34%c and 35%c, Deem
Der closed at 35% @35Bc, a gain of 10
1Mc. Local receipts were $50 cars.
Provisions were a shade easier at the
10c in the price of hogs at the yards.
There was some buying of lard for for
eign account, but selling orders from
packers We're in larger volume than buy
ing from all other sources and prevented
the market from responding. to the adj
vance in grains The close was about
steady, with January pork 5@71zc higher
at 81. 5779 OIL 60; lard and ribs were
each 21ac lower at $3.50 and Sc. Id.
The estimated receipts for tomorrow:
Wheat, 100 cars; corn, 125 cars; oats, 100
cars, and $4,000 head of hogs.
Range of Quotations.
The leading futures ranged as follows:
Omen High Low | CLOSE