The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-05-02
WHEAT AND CORN VARY
FORMER GAINS IN PRICE AND THE
LATTER LOSES

CHICAGO, April 30.-Reiterated re-
ports Of extremely barren wheat fields
Throughout the Ohio valley were chiefly
responsible for strength in the wheat mar
ket today in the face of favorable wealth
er. The July option closed at net gain
OF &c. Corn is down BQAc. Oats are
up &c. Provisions are OFF 21a D715c
Indifferent cables and brilliant weather
throughout the Northwest and South
west caused an easier tone In wheat at
the opening, the July delivery being down
1sc at S4%c. An active commission house
demand, however, soon developed, with
shorts free buyers of May. In consequence
the May option sold up about 1c, while
july advanced 1sc. The leading factor in
bringing out the Improved demand was
Ine almost sensational bulliSh crop news
from from the Ohio valley. Local traders who
nave had an opportunity of viewing fields
In that section during the past week found
IL d1fhcult to express the extent of the
damage Reports from such sources had
much TO do with the generally bullish
sentiment of pit traders. Another
strengthening influence was a good de-
mand for the cash article here and in the
Northwest. Probable delay in the> open
ing OF navigation owing to strikes tended
to strengthen the situation, as with the
supply Of wheat from Duluth cut off
mere would be. better demand here.
Late weakness in corn and a desire on
the part of a few holders to take profits
over Sunday checked the advancing tend
ency, but the close was firm and near the
We're at 851zc, after the price had touched
S5@ @855sc. May ranged between SS%c
and soc, closing at 9o5sc.
equal to 136,400 bu. Primary receipts
were 165. 100 bu, against 1853, 300 blu year
ago. Minneapolis, Duluth and Chicago
reported receipts of 106 cars, compared
with SO cars last week and 2O1 a year
ago.
The corn market acted heavy all day,
but there was very little change in prices
until late in the session. During the last
hour a big long commenced to realize on
part of his holdings and this brought out
general Liquidation resulting in CON
In part attributed to possibilities of heavy
deliveries Monday on May contracts.
There was not much in the way Of news
to affect the market extensively either
way. Gables were about steady, cash
demand fair and receipts small. The
weather was favorable for planting. July
4S{c to 4Sh @4S5sc, sold between 47%c
and 1875 @48Ac and closed at ASH % 4S3kc.
May ranged between 45Bc and 46%c.
closing at 465ac. Local receipts were Isl
cars, with Is of contract grade.
There was some good buying in oats
early in the day. Several Of the bull
leaders. were active BUYERS of July and
shorts bid the price of May up nearly Ic.
The market continued strong until the
last half hour. when some of the advance
was lost on profit taking. The late mar
The close. however, was firm July open
ed 5sc lower at 39e. sold up to 591ac and
closed at 80 &c. May sold between 401sc
and 407s @41c and closed at 40Ac. Local
receipts were 50 cars
The principal business in provisions was
in the way of changing from May to July,
although there was some liquidation
through commission houses. Indications
are for increased hog receipts which acted
as a depressing influence. The market
closed easier, with July pork down T15c
at 81 s715. July lard was off 5975&c at
IS. 671&. and ribs were down 21s@5c at
Sc. 1905 .421S.
9 Range of Quotations.
The leading futures ranged as follows:
Open. High Low. Close.