The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-06-20
GRAIN TOP COMES OFF
CORN AND WHEAT CEASE THEIR
UPWARD TREND
Former Rules Strong at First, but Selling
of July by Armour Causes a Rapid De-
cIlne-More for Sale Than for Many
Days-oniy Oats Advance.

CHICAGO, June 19.-There was an ac-
tive trade in grains today and after show
ing considerable strength early in the
day, prices yielded to free liquidation,
July wheat closing kc lower and Sep
TENDER unchanged. July corn was down
l1sc, September was off A@Ac and Sep
TENDER oats We're A@3sc higher, while
September provisions closed unchanged to
sc higher
An easier feeling prevailed in the wheat
pit at the opening on the indifferent ca
Dies, July being unchanged to PC higher
at 1875 @77c, and September I'M
changed to Is 9Ac lower at 745sc to TAX
@74Bc. During the first hour a good de-
mand developed from local traders and
commission houses who were influenced
by a continuance of bu1Iish crop reports
and by the strength at st. Louis as well
active buyers and in their anxiety to cover
the price advanced, July selling up to 77$se
and September to 1854 Prof1t-taking
with the sharp break IN corn caused re-
action toward the noon hour and the re-
maInder Of the session was fairly steady
at the lower level. The close was near
the bottom, with July 1sc lower, at 767ac,
the low point of the day, while September,
after declining to 745sc, closed unchanged
at IAN @74as. Exports for the week, ac-
cording to Bradstreet's, were 3,617 900
bushels, compared with 4,191.a00 bushels
year ago.
Clearances of wheat and flour were
equal to 386, 700 bushels. Primary re-
ceipts were $50, 200 bushels, against 1885,
Duluth reported receipts of 248 cars,
which with local receipts of 81 cars, none
OF contract grade, made total receipts for
the three points of 279 cars, against 301
cars last week and 31S cars a year ago
Corn Finally Breaks
Corn ruled strong the first part of the
session on the strength in the cash sit
uatIon, but about the middle Of the day
free liquidation set in and the market
declined rapidly. There was more corn
for sale than at any time since the recent.
advance and feeling prevailed that some
OF the big longs were dfsposing Of their
lines. The immediate cause of the break
was the selling of July by Armour and
tne weakness IN this delivery. affected the
other options: After selling between 1914
and 81 Il, July closed at 40 C, loss of
l1se for the day. September was down
q a sc: at 49, @494sc, after selling be-
tween 4s7ac and 50 &c. Local receipts were
567 cars, with 20 Of contract grade
oats Were influenced largely by the
action of corn. A feature Of the early
trade was tne selling of a good sized lot
but buying by commission houses caused
a reaction. September closed IA &c
higher, at S312e, after ranging between
80 y @331ac and 34@34Ac. Local receipts
Trading in provisions was dull and
without feature. Prices were somewhat
easier at the start, due to liberal re-
celpts of hogs and lower prices at the
yards, put covering by shorts caused a
nrmer feeling early in the day and the
market held steady the balance of the
day. September pork closed Sc higher
at s17; September lard was unchanged
SIS. 1909 SPY .
The estimated receipts for tomorrow
are: Wheat, Is cars; corn, $40 cars; oats.
100 cars, and II, 600 head Of hogs
Range of Quotations.
The leading futures ranged as follows: