The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-01-29
WHEAT SINKS FARTHER
1T RULES WEAK NEARLY ALL DAY
ON CONTINUED SELLING
Sales of Five Million Bushels Credited
to the Leader of the Bull Campaign
News Again Of Bearish Tenor
Corn and Oats Higher.

CHICAGO, Jan. 28.-There were still
further declines in wheat today on
general liquidation and May closed
7-S@1c lower. May corn closed a
shade higher, while oats were 1-4@3-8c
higher. Provisions closed steady with
May products down lie to 10 lao
II LIE.
Wheat ruled weak the greater part
of the day on continued selling by the
same interests that caused the break
i'll prices, although early in the day
a slight rally occurred, due to a little
support given the market by this same
operator. Sales amounting to 5000. geo
bu were credited to the leader of the
bull campaign. The news was again
hearish, with cables lower and big
increase in the estimate of the Euro
pean crop. Primary receipts were also
bear factor, being estimated at $685.
600 blu, compared with $4,000 bu a
year ago.
Weak at the Start.
The opening was weak with May off
1-&@1-4c to 3-8@1-2c at rs 5-Sc to
IS Use, and after selling at IS 3-Sc,
there was a rally to rs 7-Sc but the
heavy liquidation caused q steady de-
cline, the low point being reached at
n 1-2c. fair export demand brought
cut moderate demand late in the day
and firmer feeling developed, May
closing at rs 1-Sc, a loss of 7-S@1c.
Clearances of wheat and flour were
equal to 10000 blu. Minneapolis and
Duluth reported receipts of 346 cars,
which, with local receipts of So cars
none of contract grade-made total re-
celpts for the three points of 38t ears,
against 329 cars last week and 1T
cars q year ago.
Corn was active and a large volume
of business was transacted, there be-
Txl-r L. IL
houses supposed to be acting for the
recent leader in the wheat campaign.
The buying was scattered, but was
mostly in the way of covering by
shorts. A furry occurred in the jan
uary option, occasioned by an active
demand from shorts and as a result
there was an advance of 8 cents in that
reached at 4S 1-4c after opening at
45c. The advance failed to hold, how
ever, and the greater part of the gain
was lost, the close being Use higher at
40 1-2c May was fairly steady and
closed shade higher at A 1904
5-Sc, after selling between 44c and
"A 1904 3-4c. Local receipts were
$40 cars, with of contract grade.
Oats Dull and Steady.
Oats were dull and steady the great
er part Of the session, but covering by
oAAOA - anu Ouy1HS ny COU1IIlISS1On
houses caused strong feeling late in
the day and the close was higher, with
May up 1-4@3-Sc, at 36@36 Use, after
ranging between 35 3-Sc and So $50
SO lac. There was a good local cash
demand and receipts were small, be-
ing estimated at 149 cars.
Early pdices in provisions were weak,
due to liberal receipts of hogs and a
decline of from 10c9to 15c at the yards.
On the break there was fair buying by
some Of the packers, which resulted In
steadier feeling. The feature in
trading was the heavy selling of May
ribs by commission houses. May pork
closed 1902 lie lower at $16.55@
1857 IL, lard was down 2 lie at
$9.47 IL, while ribs were off 10c at
1907 1-2.
The estimated receipts for tomorrow
are: Wheat. SO cars; corn, 800 cars;
oats, 205 cars; hogs, $4,000 head.
The leading futures ranged as follows: