The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-10-01
POOR EXPORT DEMAND
MAKES WEAK MARKET
Wheat and Corn Sell Lower
and Stocks Are Also
Bearish.

All the grain markets sold lower yeSter-
day. The.eXport demand for wheat re-
mains poor while the receipts in the
Northwest continue good running about
the same as last years. There is a good
call for soft wheat for milling but the
speculative trade is dull. Aggressive
selling BY die bear interests sent The
market lower
The packing interests sold corn short
yesterday. Buying orders were light and
prices readily slumped Several longs
disposed of their lines on the break. Com
mission men look for an advancing mar
Ret, due to damage done by the las
frosts in the corn belt.
The trade in oats was unusually light
until noon and was mostly of a scalp
ing character. The extreme weakness of
the other cereals forced the price of oats
Stocks lost about half of their gain
OF tuesday, when the bears renewed
Ihere was ALSO considerable profit taking
which helped the decline. A weaker mar
Ket Is anticipated for a few days.
What the Brokers Say.
NJ. Doran & Co.'S Chicago grain letter
says: ''o-
Wheat-The very poor export demand
for our wheat has made holders tired
and they have been liuuidatine. The
market accounts are running about tbe
same as last year and there is a good
milling demand for soft wheat, but the.
IP '1!,a power IN our market seems to
nave been exhausted, and aggressive
Selling by bears starts a decline which
brings out wheat in short order and
makes our market a sick one
Oorh-Ihere was aggressive short SELL
ING DS packing interests who are already
snort on corn, and with the buyine or.
dels from the outside very light they
succeeded in starting a break which
NduSbu TWO OF l1rOp
sIohalS TO sell out their long corn Re
celpls are moderate, shipping demand is
500 anu from very reliable reports that
we get we believe there has been great
9SaInage done to this crop by the late
@ mere Is large short interest
ouI IN tne market, and any buying of a
coIisIuefaple amount for investment would
advance. 4"i'0 an
,,s 0al Is. Until about noon, trade was I'M
usually light and mostly of a scalning
character. Extreme weakness in ofbaST
grams forced some local selling, causing
a loss or sc from top prices The break
however was sympathetic and the selling
pressure not heavy, but there was no sun
port on down. turn, until around 37c for
the May, at which point resting buvinfr or or
ugfS checked the decline. The close was
WltHlh traction of the bottom for ali
options. The cash market was quiet al &c
decline September went out quietly with
very small transactions the range he
ing sos early to 35Ac at the close
say of stocks: % oii'ieii' S
Logan & Bryan-After rally of s. or
81 snare Tuesday, the market lost
ABOUT half of it yesterday This again
gives rise to the recently prevailing fear
that some impending disaster is hanoino
over me market. Not only does it not
seem impossible that anything of such
great Importance as this mystery is SIM
posed to be could all this time be kent
from the public knowledge, but a reaction
Is, we think. most natural A. great roonI,
STOCKS bought Tuesday or roll
good profits in the space Of a few hours
Naturally there would be q good deal of
ht-taknS. Then, again the bear eIe-
ment. which was numerous, will not cease
Inclf efforts on one days Improvement
There Is, therefore, selling pressure from
Doth these causes. Evidences of forced
iiQulqatlon. however. such as has been no
tlceaDle in the market in the past are.
hacking. We see no reason to change our
views that stocks are cheap and that
there is nothing in the known conditions
prices. -0"ei
Clark, Dodge & Co.-Profit- taking on
some stocks bought on a break. This.
aided by traders and some further liouida
Ton, caused the list to sell off after the
urn opening. Weakness III Steel had a
bad effect on sentiment. There was no
Such urgent liquidation as has been seen
OF Iate. but the buying power was limited
ana feeling rather diSceura ged on account
oil rally not holding better Western
houses We're sellers. News from abroad ic
tive today. -e'S az
O,Connor & Van Bergen's stock letter
says:
The market opened strong and higher and
the sentiment during the first hour was
very bEllish. There was considerable ac-
tlvlty in the, early trading on advancing
quotations. but it was evident that
perties who bought stocks Tuesday and
supported the market were realizinN on
them OH the advance. The high prices
of the Jay We're all made In the forenoon
ana AFTER th1t hOIlr tho
and traders attacked the list. causing de-
clines extending from u to 25h per cent
from top prices Of the day. The closing
was heaHy and 1t looks as if the rally
was over FOR the time being at least
Midway Horse Market