The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-07-31
s TRANSACTIONS IN THE MAR
STRONG But ERRATIc
THIS DESCRIBES TIE NATURE OF
THE WHEAT MARKET
Anxiety OF July Shorts to Cover Sales and
Reported Damage by Rust in the
Northwest Are the sMaEn Features
Corn and Oats Lower

CHICAGO, July sn.-Reports from the
Northwest of damage by rust combined
Win the anxiety OF July shorts to cover
safes caused strong but cratic wheat
narket1 here today. At the close Septem-
Der wheat was a shade above Yesterdays
closing figure. Corn is off Anssc oats
are down a shade and provisions 21sc
to I5c
The wheat market today was Influenced
mainly by the action OF the July delivery
although a number of other factors enter
ed into the situation The outstanding
July shortage did not appear very eyfeTa-
slSe, but 1t was sufficient to keen the
market in a feyeriSf and unsettled con-
uitloh- Under active covering the July op-
Ion befns at SS7sc- September was 4
shade lower TO 1s@S4e higher at 9sskc TO
907@c- Other factors that contributed 10
the ouiilsh sentiment were numerous re-
ports from the Northwest of damage &c,
the growing crop by rust and the strong
tone OF continental cables No quotations
We're received from Liverpool owing to a
monday there Soon after the ,y4af4iT7sr- a n
active demand from foreionerrs for +I,a
distant deliveries dele1oDed followed nv
good buying by pit traders The pricf.
OF september was lifted to 911sc but re-
acted again to 905sc Meantime TllIr
made about a cent advance from the
opening price. Later the demand from
ShortS became so urgent that July made
I L.
nuenee OF this sharp uptufn distant de-
nFefieS also advanced, September selling
up 10 81 sc quick reaction however
followed Small holders who had been
waiting for the price OF July to reach the
oollar- mark eagerly took advantage OF
the opportunity TO secure profits The
selling was OF sufficient volume TO cause
a decline in that month to 9zc AT the
same time September sold off TO 90Lz G
Renewed covering by shorts again start
ed July upward and final figures were at
" &c. Other deliveries failed to rally,
September closing at 9eSsc.
ClearanceS of wheat and -four were
equal TO 2S0.300 bushels. Primary re-
eeipts Were 634,1e0 bushels, against 622.-
luth and Chicago reported receipts Of %.
ears. compared with 2z0 cars last week
and z49 a year ago.
Corn Turns Weak
In sympathy with the strength of
wheat firm tone was manifested in the
corn market during the greater part OF
the day There WAS no selling OF i'm
5portance until the sharp break in wheat
occurred, when cofaSidera bic profit-tal1ing
TOOK place. During the last half hour the
market was quite weak. Crop adYiceS
were favorable Receipts We're fair and
the cash demand was good. September
opened unchanged to shade higher at
1850 to 1875 6D49Szc sold between 491zc
and 1879 c and closed at 49L90149Ssc. Local
receipts were 201 cars, with IS OF contract
grade
a SHldiis hurry III July 1I1In6GiaIeiF after
the opening was the feature of trading in
oats. Active covering by shorts with
only light offerings was responsible for the
upturn in July The advance was soon
lost on realizing by local holders. The
market showed an inclination to follow
CORN September opened a shade lower
at 3394c. sold between 1914 C and 331sc
and closed at the low point. Local re-
ceipts were 120 cars
Provisions were easy on selling for out
side account and on a lack OF support
from packers. A weak hog market had
a depressing influence The market closed
near the low point with September pork
down 1241s 6lI5c at SI2- 921s OBJ 90 Lard
was off ~ id5c at $I917 .0216. Ribs were
down PFC at SO.
Estimated receipts for Monday: Wheat
$50 cars; corn. 227 cars: oats. 129 cars;
hogs 20. 600 head
Range OF Quotations
The leading futures ranged as follows:
Open. High LOW Close.