The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-03-28
GRAIN NEWS BEARISH
BREAK IN WHEAT, RECOVERY
AND CLOSE WITHOUT CHANGE
Trade Dull. With Extreme Weakness.
Though Frmness Shows at the End
NO Feature in the Corn Trade
That Cereal and Oats Close Higher.

CHICAGO, March 27.-Generally
bearish news caused break of l lac
In May wheat today. but late in the
day the sentiment changed and the en-
tire loss was regained, the close being
unchanged May corn was 1-463-Sc
higher. and oats were a fraction bet
ter. Provisions ruled easier, the May
products closing from . LA sc to 10c
lower.
Trading in wheat was again dull. and
extreme weakness prevailed the greater
part of the session, although the close
was firm. May opened unchanged to
a shade higher. at - 5-SG72 3-4c to
- 3-4c, the steadiness being due to
the unfaYorable weather conditions.
The weakness in outside markets and
a report from Paris showing sharp
break in flour prices soon changed the
sentiment in the pit, and longs became
active sellers, and there was also con-
siderable selling on short account.
with no support from any source the
market declined. selling down to
- lie Export demand late in the,day
started shorts to covering, and there
was also fair buying by longs who had
sold out earlier in the session. which
resulted in a strong upturn. The close
was unchanged at - 5-Sd72 Sac
Clearances of wheat and flour were
equal to 100000 blu. Primary receipts
were $4,000 Blu. against a holiday last
year. Minneapolis and Duluth reported
receipts of 213 cars. which. with local
receipts of 10 cars, none of contract
grade made total receipts for the three
points of 232 cars, against 273 cars last
week
Corn Business FeatureIess.
There was no feature in the trading
in corn, and the volume of business
was light. While the speculative con-
ditions were bearish. the news was of
the opposite character, the weather
being unfaVOrable for the movement
and the receipts light. The weakness
In wheat was responsible for the de-
cline. The late strength in wheat in
duced considerable buying by locals.
and the close was firm. with May LA
3-Sc higher, at 43 5-Sc, after selling be-
tween AZ 3-4@42 Use and 43 SIS. Lo-
cal receipts were 100 cars, none OF
which were of contract grade.
The weakness in wheat caused gem
eral selling of May oats, and that de-
livery suffered a break of / cent, but
recovered all Of the loss before the day
was over The sentiment was mod
erately bullish on reports of delayed
seeding, and the cash demand was
good. After selling between 81 LA
80 3-Sc and S3 LA 33 3-8c, May closed
a shade higher, al 80 1-Sc. Local re-
ceipts were 239 cars.
Provisions ruled easier and the vol
ume of trading was light. The liberal
receipts of hogs and decline in prices
at the yards caused an easier tone at
the start and the weakness In grains
added TO the depression. fair de-
mand for lard from exporters later in
the day created a better feeling. but
May pork closed 10c lower, at $1S: May
lard was off lie. at $1O.O7 IL, and
ribs down 1-2@5c, at 1897 -.
The estimated receipts for tomorrow
are Wheat, 10 cars; corn, 40 cars.
oats, 200 cars, and 1900 head of hogs.
Range of Quotations.
The leading futures ranged as follows: