The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-04-12
WILD IN THE WHEAT PIT
ARMOUR TURNS SELLER AND PRICE
DROPS THREE CENTS
Rally Takes Places and Close Is but a
Fraction Under the Thursday Closing.

CHICAGO. April 1.-THE wheat nit was
Ihe center of attraction on the Board of
ulatiOn which had been in progress The
past week. the May option declined &c
ana July 21ec, but rallied later, May clos
NE = a a sc lower with July down 112c.
May corn closed shade higher. with oats
unchanged, while provisions were from
21zG lower to 1215c higher.
Ihefe was wild excitement in the wheat
pr al the start, and every broker appeared
to have buying orders the general inn
preston being that the Armour people
we're we're gong to send the price still higher.
Inc leader OF the bulls was fair buy
er at the opening, and with big Udemand
from shorts. the price of May advanced
10 10 LIS; after opening shade lower
July advanced to 729sc. after opening at
~ lZt4c. This appeared to be ex-
act!y what the Armour interests Were
waiting Tor, and with a big demand for
both May and July deliveries the big bull
turned seller, hoping to be able to dispose
OF OF, most OF his holdings at a good profit.
quickly noticed by the watchfGl crowd
and the selling became general. so much
so that the price broke sharply May sell
ing off to 1880 and July to $3.50 The
break IN prices was the signal for let
up in the selling pressure on the part of
the prominent long, and with this interest
out of the deal the market became quiet
er. A fair 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 751zc. July was off
12c, at 703s d70hc
Clearances of wheat and -four were
equal 10 I6S.OO0 bu. Bradstreets' report
of exports of wheat and flour for the
week showed 2, 633 600 bu. Primary re-
ceipts were 500 900 bu 1.-TWO days.. against
$4,000 blu year ago Minneapolis and
Duluth reported receipts Of 393 cars.
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 1876 cars a 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 hard
little effect on corn. and the close was
steady. with May a shade higher at AZ c.
Local receipts were 1SS cars none Of con-
tract grade.
Oats were easy at the start. due to hq
uidauon by leading longs, but covering
by shorts caused a firTner feeling. The
volume of trade was small. May closed
unchanged at 3212 D32Ssc. after selling be-
tween 31hc and 329s 93224 c. Local re-
cefptS We're POI cars.
ribs throughout the day. which helped
to maintain a steady undertone in pro-
visions, although pork was weak on SELL
ing by commission houses. May pork
closed 21.c lower. at $l7.622. May lard
was a shade higher. at SO. G9.S711. and
ribs were 12Lac higher. at So. S21s.
The estimated receipts for Monday are:
Wheat. 80 cars; corn. los cars; oats. 135
cars, and $1,000 head of hogs.
Range of Quotations.
The leading futures ranged as follows: