The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-04-13
WILD IN THE WHEAT PIT
ARMOUR TURNS SELLER AND PRICE
DROPS THREE CENTS
Rally Takes PIaceIg and Close Is but a
Fraction Under the Thursday Closing.

CHICAGO. April 1.-THE wheat pit was
the center of attraction on the Board of
Trade today. and as a result of the manip-
ulation which had been in progress the
past week, the May option declined &c
and July 21ac, but rallied later May clos
ing 24@Bc lower. with July down nc.
May corn closed a shade higher, with oats
unchanged, while provisions were from
215c lower to 12kc higher.
There was wild excitement in the wheat
pit at the start, and every broker appeared
to have buying orders. the general i'm
preston being that the Armour people
were going to send the price still higher.
The leader of the bulls was fair buy
er at the opening. and with big Udemand
from shorts. the price of May advanced
to 1850, after opening shade lower
to 12q5sc higher, at 1914 @767c, Willie
July advanced to 723sc. after opening ct
l%Q72Ac: This appeared to be exo
actly what the Armour interests We're
waiting for. and with a big demand for
both May and July deliveries the big bull
turned seller, hoping to be able to dispose
of most of his holdings at good profit.
The change in tactics, however, was
quickly noticed by the watchful crowd,
and the selling became general. so much
so that the price broke sharply. May sell
ing off to 742sc and July to 69Bc. The
break in prices was the signal for let.
up in the selling pressure on the part or
the prominent long, and with this interest
out of the deal the market became quiet
er. A talr demand from commission houses
and shorts soon brought about a partial
rally and the market was quite steady
the remainder of the session. May clos
ed q q &c lower at 7512c. July was or
Zee, at 70as @70@c.
Clearances of wheat and -four were
equal to 1885, 600 blu. Bradstreets report
Of exports of wheat and flour for the
week showed 1888. 600 bu. Primary re-
ceipts were 500, 900 bu 1.-TWO days.. against
5000 bu year ago.. Minneapolis and
which with local receipts of 40 cars, none
of contract grade, made total receipts for
the three points of 442 cars, against 259
cars last week and 1S6 cars year ago.
Not Much interest In Corn.
There was little interest manifested In
corn, and the market was dull and fea-
tureless. Commission houses sold July
but there was enough demand from
ScalperS and brokers to prevent any Sc
rious decline. The break in wheat had
steady, with May shade higher. at 42%c.
Local receipts were 1873 cars, none of con-
tract grade
Oats were easy at the start due to liq-
by shorts caused a firmer feeling Tht
volume of trade was small. May closed
unchanged at 321a @325sc. after selling be-
tween 31Bc and 1925 @32Ac Local re-
ceiptS were 261 cars.
There was fair demand for lard and
ribs throughout the day, which helped
to maintain a steady undertone in pro-
visions, although pork was weak on sell
closed 21kc lower at $1762h. May lard
was a shade higher, at $685. GD9. IL, and
ribs were 12@c higher, at SO. S21a.
The estimated receipts for Monday are:
Wheat, 80 cars; corn los cars; oats, 1875
cars, and $1,000 head of hogs.
Range of Quotations.
The leading futures ranged as follows: