The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-07-20
WHEAT SLUMpS SOME
GOOD WEATHER FOR CROP LEADS
TO SELLING
Apprehension Felt Concerning War situa-
ton Causes Momentary Strength, but
Reaction Carries Prices to Bottom at
Close


CHICAGO. July IA return to favor
able weather conditions throughout the
greater part of the country caused heavy
iiquidatlon of wheat today. At the close
is up ssc. Oats show a gain Of A@%c.
PROVISIONS are a trif1e easier Cooler
weather in the Northwest and clear skies
IN the southwest brought out flood of
sTealIzlnS sales In the wheat pit al the
opening.
In consequence initial quotations were
at sharp declines, September being down
q q 7sc to A@Xc, at SS1sc to 8S15c. On
the break there was considerable cover
ing by shorts, but the demand was not
suff1ciem TO prevent sharp slump, Sep
TENDER dropping to 871ac
Early in the day some apprehension was
felt among wheat traders, over the new
complications in the war situation. but
Inc improved weather conditions more
than Offset this influence.
~ Later the market recovered much of the
early loss as result of buying induced
by prospects of a big decrease in the
worlds visible supply
strength of corn, also, was supporting
factor. Within the last half hour, how
ever, the market again became weak on
n I, iiqu1dation and the close was al
most most at the low point. Final figures on
September were at S75s @87%c. July sold
between 5h@97Ac, and closed at the
bottom Clearances of wheat and -four
We're equal to 125, 900 bushels The worlds
Visible supply, as shown by Bradstreets,
decreased 5,7s0,00o bushels Primary re-
eelpts were 1888, 800 bushels. compared with
1853, 700 bushels year ago MINNEAPOLIS,
Duluth and Chicago reported receipts of
2IS ears, against 230 cars last week and
1856 cars year ago.
There was comparatively strong corn
market, although the break in wheat had
some effect at times. On all soft spots,
however. the leading bulls bought freely.
and the market held at slight advance
volume of trading was fairly large and a
little more outside interest than usual
was manifested
The Illinois and government crop re-
ports We're moderately bearish, but pri-
Yate advices were decidedly bullish. Dam
age reports from Southwestern Missouri
In conjunction with decreasing receipts
and a stronger cash market were the main
strengthening influences. The market
closed strong and near the top. Septem-
Der opened 1sc to 3s@14c lower at 1890
closed at 491sc.s Local receipts were 3S7
ears, with 33 of contract grade.
On active support from bull leaders oats
held steady in the face of the weakness of
wheat. The action of wheat had some eff
feet, but the market was inclined to fol-
low corn. Crop news was bullish and the
cash demand showed considerable i'm
prQvement The market closed practically
at the high point September opened un-
changed to &c higher. at $3.50 to 32Ac,
ranged between 323s cassie, and closed at
5@ Some strength was displayed in provi-
sions early on the strong hog market
but enough liquidation developed to cause
slight losses in all products Owing to the
uncertainty attending the strike situation,
trading was very quiet. AT the close Sep
TENDER pork was a shade lower at $3.50.
Lard was down PIC, at $6.927sc. Ribs
Estimated receipts for tomorrow:
Wheat, cars; corn, Ill cars; oats, so
cars; hogs, 1000 head.
VS. Range of Quotations
The leading futures ranged as follows: