The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-07-09
BAD NEWS FROM
HARVEST FIELDS
CAUSES ADVANCE
Spring Wheat Belt Sends Out a
Batch of BuIIish Reports and
the Market Readily Responds
Corn and Oats Are Lower.

Wheat again advanced yesterday While
corn and oats dropped a notch. Inc
wheat market opened easier on the raVor-
able weekly government bulletin and I'M
proved weather conditions in the North
west But before long the bull contln-
gency scraped up bundle of bad mar
vest reports from the spring wheat belt
and the prices took quick upward turn,
advancing 1c over Tuesdays close. Pes
simistic reports on the crop outlook in the
Red river valley were also sprung to bull
the market Towards noon the high
prices again eased off a little. but the
close was decidedly. bullish.
Heavy liquidation and selling by Chi
cago commission houses took the edge
off the advance i'll corn. Before the first
hour of the session had passed this grain
lost fully so per cent of it's Tuesdays
gain. The weather throughout the corn
country is ideal for the growing. crops
Oats were weak and inactive during the
entire day. They lost aboute Ac, Trade
was very light.
Stocks still remain dull and uninterest-
Ing. There was little. trade yesterday.
but the market was entirely professional
There We're no new features.
What the Brokers Say.
M. Doran Co.'s Chicago grain letter
says:
weekly government bulletin and more
favorable and cooler weather in the
Northwest There was quick change OF
front and prices advanced sharply 1c a
Du, Tie DuylnS DelflS DdSeQ on growing
unfavorable spring wheat prospects and
on renewed reports of disappointing har-
vest returns.
Corn-Liquidatio took the edge off the
advance and prices lost about so per
cent of Tuesdays gain. The trade was
large at times, with local holders the
principal sellers. The situation how
ever, remains unchanged. The September
option was rather draggy. influenced by
poor demand We believe May should be
bought on setbacks.
-, oat s, , no time during the day could
Throughout the day the support was poor,
the buying being entirely local, while the
commission houses have been consistent
sellers: though trade has not been large.
Late in the session weakness in other
grains and lack of support eased Sep
TENDER December, and May following
more slowly. The market closed at about
the bottom for all options, except July
whose price bore no relation to the others.
5, Il. SnotWell q Co S grain letter says:
Wheat-The opening was easier on the
Indifferent cables and fine weather 1t
looked as if Armour brokers were free
sellers on the advance. Around the high
points LEGAL bulls who bought early We're
trying to sell, but around top prices de-
mand was poor About noon prices be-
gan working lower with foreign houses
and scattered longs selling. Armour also
sold on all hard spots and checked adj
vance Local sentiment on wheat con-
tinues generally buliiSh, and of course, all
Dull news is consequently intensified and
exaggerated.
Gorn-The weather map showed SPLEEN
CID conditions all over corn belt. The
opening was weak and looked as if good
deal long corn was being sold through
brokers' who are thought to be working
for some of most important bulls. rho
cash demand for corn was rather slack
quence.
Oats--This market was inactive today
and prices worked somewhat lower Ele-
yator, people We're buying the sample oats
in order to make contract standard to de-
liver on July contracts.
j. G. Geraghty g. Co.'S correspondents
say of stocks:
Logan e Bryan-The market was ex-
tremely dull and prices We're irregular.
but on the whole were without much
change; Some selling pressure has de-
Yeloped in the steel stocks. If the market
breaks on the government report issued
on Friday we would buy stocks. Current
weather is most favorable and crop condi-
lions have improved.
Walker Bros.-The market was a re-
pition of last few days, with very light
transactions and little or no interest. The
changes were slight. There was no news
OF Importance. The close was featurelesS
DICK BroS.-The market on the whole
mas held well in the face of gold ship
ments and another drive at steels Lon
don bought about 10000 shares of various
stocks. The selling seems to be based
on the fact that there is yet to be issued
tional stock.
Randolph-The stock market was ex-
tremely dull and lifeless today, with only
professional trading on limited scale.
Lackawanna was strong and attracted
some attention on that account, although
there was nothing tangible to explain the
movement in this stock On the other
uahu, new York Central as was the case
yesterday, was weak and heavy. Neither
the money or the stock markets have paid
much attention to the engagement of 81.
tomOrroW'S steamer Fe W