The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-07-24
WARM WEATHER IN
KANSAS CAUSES AN
ADVANCE IN CORN
Other Grains Are. Also Higher
But the Wheat Market Is IT.
regular and Nervous-.Stocks
Remain Dull and Inactive.

The wheat market yesterday was irreg-
ular and nervous but at the close was
firm and higher. Shortly after the open
ing the Chicago pit was flooded with
bunch of poor harvesting reports from
Kansas and the Southwest. This sent
prices higher, but on covering by the
short interests the market again de-
clined. The close was. nc over Wednes-
day.
The hot wave story from Kansas caused
furry in corn. and prices quickly ad-
on profit taking but before the close Of
the session the market regained its lost
ground closing with September. up 11sc.
oats followed the wheat and corn mar
Iket. The opening was steady but trade
was light. Before the close there was
sharp advance and the final quotations
were from q C to &c higher than Wednes-
days close.
The New York security market is still
duh and inactive. The bear pressure
holds prices down and prevents any
great advance. Railroad stocks have not
suffered the past two days from any
great decline. but some of the industrials
on the least bear movement. A good
bank statement is looked for on Satur-
day.
What the Brokers Say.
NJ Doran & Co.'S Chicago grain letter
says:
Wheat-The early advance in this mar
ket was purely in sympathy with adj
vance in corn. Trade was very light.
The selling out long property later caused
q break.
Corn-Today has been the most exciting
in this market for some time. The open
ing found the pit crowded with brokers
loaded with buying orders. Reports or
very high temperature throughout Kansas
assisted in making advance.
Oats-Moderate sized buying by pit
traders and commission houses in sym
patty with strong corn and wheat caused
a quick advance at the openi5g Trade
was not broad, however,, and outside in
1sx~I1E hot fntY csnI1S
commission houses lost half the early ad
vance.
S. B. ShotweH & Co.'S grain letter is as
follows:
Wheat-At the opening wheat was af-
fccted by the strength in corn. A crowd
OF bulls were buying it, and nervous
shorts covered freely. Locals who bought
few, scattered shorts to take offerings.
About noon Peavey bought in some wheat
sold early, but shorts were still the best
buyers and market began showing a
firmer tone advancing principally in SYM
pathy with corn. The close was up 3sc to
Corn-The hot winds and high tenn
peratures in Kansas yesterday opened
corn higher here. After the first ad-
VANCE the market ,quieted down and
seemed a little inclined to sell off, but
reports of damage by hot winds and high
temperatures in Kansas and parts Of
Oklahoma, checked the decline and turn
ed the market strong. Closing quotations
1kc.
oats-This market was inclined to fol-
low wheat and corn except the July, which
The close was up &c to 1Bc.
j. c.. Geraghty Co.'S special grain letter
from E. w. Bangs says:
and. yon will see one of the two things.
either larger movement of wheat, or a
decided movement in prices here. We
cannot ignore much longer the small
movement of the COlundre6
with movement of previous years or the
liberal prices paid for the arrivals of
is soc. Minneapolis sac, Duluth Sac, and
still with these big premiums the move
ment Is extraordinarily light 1 believe the
farmers have got little common sense
these prices. In fact there is only one
state where we can look for any large
movement and that is Kansas. The
apathy shown by foreigners is simply the
result oe the early news of q large crop.
and so far they do not take any stock
in our estimates of the reduction from
these figures ] cannot see anything at
present TO cause low prices this year in
wheat. Corn promises three-fourths of
last years yield do not expect to SEQ
cash corn sell as low as 45c on the crop
and there are possibilities for much
higher prices. Buy wheat and corn on
every weak spot. particularly wheat.
O'Connor & Van Bergen's stock letter
says:
Today's stock market has failed to
carry ant tile promise Ct further improve
mcnt made at the close Wednesday night.
The display 1f wax 1c5S on tSe Fart If
several apecialties has engenedered a feel
ing Of hesitation. and it is not surprising
that in so narrew 8 market such weak
ness Is readily reflected throughout the
general list. Tic higher grade OF stocks
have Reid comparatively well. and it
would seem that each day sees a steady
absorption for Investment account. We
regard the satisfactory prices obtained
70: New. Icrk City bonds as significant
L : too ea-ly 10 make d probation re-
garding Saturdays bank statement.
Everything points TO n favorable one. GI-
Though the payments to he made by the
in the result. Money rates continue firm
but we arc Inclined to think that in the
near future offerings will be more favora-
bic to the borrower.
Chicago Produce.
CHICAGO. July 23.-Bntter easy;
Creamerics i5@21kc: dairfcs 13Q1Sc