The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-04-28
LATE RALLY IN WHEAT
LOWER PRICES PREVAIL TILL
NEAR THE CLOSE
Prices Erratic, Advancing at First and
Falling Off Later-cIose Is Higher
and Strong-Corn and Oats Leave
Off at a Decline.

CHICAGO, April 27-Lower prices
prevailed on the board of trade today.
put wheat rallied late in the day and
closed firm, with May 1-Sc higher and
July up Is and lac. May and July
corn were down 3-Sc, May oats were
on 7-Sc and July Ia and 3-Sc lower.
provisions were weak, the July prod
uets closing from 10@12 lie to II 1-2c
@15c lower.
Trading in wheat was fairly active
and prices were rather cratic. High
er Liverpool cables caused a strong
opening, May being IA to 3-Sc higher,
at ~ 3-S to II 1-2c, with July Lao
S-S to 3-Sc higher, at y SIS to Y SIS
WiZ SIC. Pit traders who had
sold short over Sunday were good buy
ers at the start and with limited offer
lngs the market quickly advanced,
May selling up to II 3-4c and July
10 ~ 3-4c. Both primary and North
west receipts were more liberal and
With Improved weather conditions there
was general commission house selling
on the advance, which soon caused a
reaction Large worlds shipments
were also against the market and at
times the selling pressure was quite
pronounced, prices breaking sharply
under this influence, May declining to
10 LIE and July to re. A moderate
decrease in the visible supply, with
buying by brokers, supposed to be for
the account of the leading long, caused
rally later in the day. the market
becoming firm. Closing prices show
ed gain for May of Use at II lac.
and July was up Is and lac at
~ 1-Sc. The amount on passage in
creased $4,000 bushels, while the WISH
BILE supply showed a decrease of 1,706.
900 bushels
Clearances of wheat and flour were
I
receipts Were 469,200 bushels, against
362.4O0 bushels a year ago. Mime
apolls and Duluth reported receipts of
ESQ cars, which, with local receipts OF
40 cars, none of contract grade, made
total receipts for the three points of
326 cars, against 228 cars last week and
253 cars a year ago.
Active Business in Corn.
Trading in corn was active, but the
greater part of the business was for
local account. The market was strong
at the opening on higher Liverpool ca
bies. with provision interests disposed
TO support prices. May was especial
Iy strong and advanced to 45 3-4c, after
opening at 45 1-2 to As 5-Sc. Later
the rumOr was circulated that a big
long was unloading and this started a
selling movement among smaller hold
ers, which, was helped along by the
improved weather. resulting in severe
break, May selling off to A 1-2c and
July to 45c. The market was steady
late in the day and May closed 3-Sc
lower at Al Use, with July 3-Sc lower
at Al 1-6c. Local receipts were IS
cars, of contract grade.
Heavy liquidation of May oats by
longs resulted in a sharp break in both
May and July, and stop loss orders
coming out on the decline added to the
weakness. The better weather, in
| creased receipts and small cash de-
mand were responsible for the selling
| movement Closing prices were near
the bottom, May being Use lower al
80 3-Sc. after selling between 33 3-S and
"a Lac. July closed IA and 3-Sc
lower. at 81 1909 3-Se, after
ranging between 81 is and 81 lac and
31-5-S and 81 3-4c. Local receipts
! were 143 cars.
| provisions were weak at the opening
due to liberal receipts of hogs and low
er prices at the yards, which caused
/ free offerings at the start. Packers
| bought moderately on the decline. but
! there was very little support. Clos
! ing prices were steady, July pork being
| II lie lower, at $17.35, July lard
! II IL and 15c lower at $3.50 and ribs
! down 10 and IL lie at 1856.
The estimated receipts for tomorrow
are: Wheat, IS cars; corn, 23O cars;
| oats, 290 cars, and 1900 head of hogs
Range of Quotations.
| The leading futures ranged as follows: