The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-03-06
HEAVY BREAK IN WHEAT
AVALANCHE OF LONG GRAIN
THROWN ON THE MARKET
Fears of Bearish Government Crop
Report Responsible for This-Sup-
port All But NiI-EarIy Firmness
and Subsequent Selling in Corn.

CHICAGO, March 5.-Heavy realiz-
ing in wheat caused a break of over
l Zee in that market today and the
close was weak, with May IA @12sc
lower. May corn was off 15@5sc, and
oats were down q 0%c. Provisions
closed easy, with the May products
from 212c higher to 10c lower.
Started by fears of a bearish gov
eminent crop report for next Tuesday,
an avalanche of long wheat was thrown
on the market, and with practically no
support, prices slumped severely and
before the bottom was reached a loss
of l sc from the top price of the day
was sustained. May opened a shade
lower, at 771sc on lower cables, and
the early trading was extremely dull,
but prices firmed a trifie on the
strength in corn, May selling at 77A c.
General selling on prospects of a bear
ish crop report started prices on the
downward tread and the break in corn
accelerated the pace, May selling off
to 75sc before any recovery was
made. The market ruled weak the
remainder of the session and May
closed at loss Of l a al &c, at 75A q
1870. Small primary receipts-3S6, 500
bushels, against 100000 bushels last
year-and unfaYorable weather for
the movement were bull factors.
Clearances of wheat and flour were
equal to 375,O00 bushels. Minneapolis
and Duluth reported receipts of 297
cars, which, with local receipts OF six
teen cars-none of contract grade
made total receipts for the three points
of BIB cars, against 317 cars last week
and 260 cars a year ago.
How Corn Fared.
There was a fair trade in corn and
the early market was firm on unfa-
vorable weather, with prospects of
still more rains in the next few days,
but when the decision of the ware
house commissioners was announced,
stating that no change would be made
in the rules in regard to kiln dried
corn, the selling became quite pro-
nounced. A sharp break resulted in
consequence and May sold down to
1850 after opening unchanged to 1sc
higher at AIS @47Ac. The close was
near the bottom at 46R @465sc loss of
70 a &c. Local receipts were 234 cars,
with none of contract grade.
Oats were affected by the weakness
in other grains and considerable long
stuff came out on the decline, the
selling of July being especially notice.
able, The close was weak, 5s@%c
lower for May, at 3414c, after ranging
between S4as @35Ac. Local receipts
were 1913 ears.
Provisions held remarkably we'll in
the face of heavy liquidation and the
weakness in grains and the early mar
ket was strong, with new high record
marks being established, May lard
selling up to $1O.O71a. and May pork
up to $1S.45. Smaller receipts of hogs
and higher prices at the yards were
the early bull factors. Outsiders and
stock yards people sold freely, but
covering by shorts prevented any
break. The close was easy with May
pork 10c lower at $500; May lard
21ac higher, at $1,000 and ribs off 1Oc,
at $9.77@.
The estimated receipts for tomorrow
are: Wheat, 20 cars; corn, 290 cars;
oats, 155 cars, and $4,000 head of hogs.
The leading futures ranged as foEowz: