The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-01-28
BREAK COMES IN WHEAT
HEAVY REALIZING BY ARMOUR
BRINGS IT ABOUT
Opening Is Weak and Longs Unload
Freely-Temporary Rally, the Sup
port Being Only Momentary-Corn
and Oats Join Wheat on the Down
Grade.

CHICAGO. Jan. 27.-There was an
enormous trade in wheat today, and
heavy realizing by the leader of the
longs caused break of over cents
IN the May delivery, and the close was
weak and a loss of 2 5-Sc from yes
terday's close. May corn closed $50
lower, with oats down 1-4@3-S Sc. Pro-
visions closed weak, the May products
being from 10c to % 1-2c lower.
Lower cables and liberal receipts,
especially in the Southwest caused a
weak opening in wheat and local longs
unloaded freely. There was a tenn
porary rally shortly after the start,
brought about by buying by the lead
ing long, and May sold up to S17-8@
S2c after opening 1-4@3-8c to 3-S@1-2c
lower at 811-4c to 81 3-8c. The support
was only momentary, however, and
when it was learned that the chief
long interest was selling through
brokers', there was a wild scramble to
secure profits and the price broke
Sharply The low point being reached
at rs Use.
Another Slight Rally.
Covering by shorts late in the day
caused slight rally, but the close
was weak and 2 5-Sc lower at $50
- 1-Sc. The news was generally bear
ish, with the falling off the export de-
mand the principal influence. The
volume of business was something
leading bull disposed of anywhere from
100000 to 15,000,000 blu, while COM
mission houses were also heavy sellers
Worlds visible showed decrease of
$4,000 bu, compared with decrease
the same time last year of 1882, 900 bu.
ClearanceS of wheat and flour were
equal to 2,481,O0 blu. Primary receipts
kNNr
year ago. Minneapolis and Duluth re-
ported receipts of 334 cars, which with
local receipt of 95 cars, none of con-
tract grade, made total receipts for the
three points of 429 cars, against APT
cars last week and 472 cars a wear
ago.
Armour Takes Corn.
Corn was remarkably firm early in
the day considering the weakness in
wheat, and it was rumored that the
same firm that unloaded the big line
or wheat had taken on large line of
corn Commission houses and brokers
were active buyers. Later in the SEES
sion, when wheat started on it's last
downward course, the offerings be-
came very liberal and a weak feeling
developed, and May closed 5-Sc lower
at A lie after selling between "A 3-8c
and 10 3-8c Local receipts were TAG
~e~A % with AACAC VI contract grade.
There was only a light trade in oats,
and the market sympathized with
other grains. the close being weak
Commission houses and brokers were
/ the best buyers, while local traders
sold. May closed 1-4@3-8c lower at
90 SIC, after selling between. 35 3-4c
and SO lac. Local receipts were 41O
cars.
Frov islons ruled dull and easier. the
| liberal receipts of hogs and lower
prices at the yards contributing to
the early weakness, while selling by
packers added to the decline. Com
mission houses bought moderately
The close was weak, with May pork
" 1-2c lower at 1857 1-2c. May lard
was down IL 1-2c at $3.50, while ribs
were off 10c at $9.171-2.
The estimated receipts for tomorrow
are: Wheat, 35 cars; corn, 3O5 cars.
oats. $50 cars and $4,000 head of hogs
The leading futures ranged as follows: