The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-02-07
GRAIN MARKETSUPACAIN
BULLISH NEWS THE BASIS FOR
ACTIVITY IN WHEAT
Unexpected Strength of Gables Leads
to Strong Openina-Reaction Fol-
+ lows, but Market Soon Receivers
Fair Trade in Oats, Chiefly for Local
Account.

CHICAGO. Feb. 6.-The trade in
wheat was moderately active today,
and on bullish news the market ruled
firm, May closing 3-8c higher. May
corn was shade higher, while oats
We're up 3-8@1-2c. Provisions closed
steady, with the May products from
LIE lower to shade higher.
The unexpected strength to cables
caused strong opening in wheat, and
under free covering May sold to IS lie
after opening 1-4@3-8c higher at
79@79 1-8c. The smaller Argentine
shipments for the week. 74,00O bu,
where total of 100000 blu had been
expected-created some anxiety among
shorts and was partly responsible for
the early buying from that source Lo-
cal longs took advantage of the bulge
to dispose of considerable stuff, and in
consequence reaction followed. Re-
ports of buying at the seaboard for
shipment to France was a help late in
the session and the market responded
readily, May again selling up to 70 1-2c.
The close was steady to firm, with
May 3-8c higher at 70 1-Sc.
Primary receipts were a bull factor,
being smaller than of late at 495, 900
blu, against $4,000 bu year ago. The
weather was favorable and crop ad-
wees We're bearish. Bradstreet'S re-
port on the export of wheat and flour
for the week showed a total equal to
$4,000 blu, compared with 4,42O,00O
bu last week and 4,80O,OO0 bu a year
ago. ClearanceS of wheat and flour
were equal to 475, 900 blu. Minneapolis
and Duluth reported receipts of 304
cars, which, with local receipts of 80
cars, none of contract grade, made
total receipts for the three points of
1874 cars, against 302 cars a week ago
and 275 cars last year.
Corn Sympathizes With Wheat.
Corn acted in sympathy with the adj
vance IN wheat, but when the price of
May had reached 45c there was con-
siderable selling by commission houses,
which prevented further advance.
The grade in general was only fair and
was principally for local account. Dull
ness prevailed the latter part of the
session and the close was steady, with
May a shade higher at Also after
| selling between "A SAC and 45c. Local
receipts were 210 cars, with none of
contract grade.
Oats ruled strong, but the volume
of trade was rather small, the offer
ings being light. The strength of other
grains was an early factor. Local longs
We're disposed to take profits and part
of the advance was lost, but late in the
day there was renewed demand and
the close was near the top. May closed
0V - AASAcl az oEWo % 1-oC, dIlel
ranging between So SIS and 81 1-Sc, the
top prices for the crop. Local receipts
were 10S cars.
Provisions were dull and the senti-
ment was rather bearish, although
| opening prices were tri1ie higher on
fair demand for pork and ribs. Le-
Gals were bearish in their mood and
! disposed to sell, with selling by stock
yards people feature The close was
| steady, with May pork unchanged al
| $16.75, May lard closed 1-2c lower al
| 1887 1-2, while ribs were a shade high
! er at 1912 1-2@9.15.
The estimated receipts for tomorrow
are: Wheat 35 cars; corn. 225 cars;
! oats, 10 cars and 1900 head of hogs
The leading futures ranged as follows:
Open. High. Low Close