The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-03-30
WHEAT HAS SETBACK
REALIZING FOLLOWS CONTRADICT
TIoNs OF DAMAGE REPORTS
Market Starts Strong With Sellers Scarce
EARLY ButIisia Feeling Gives Way to
BearIsE Conditions and All Grains, Close
: Lower.

CHICAGO March observation-disclosures of
crop damage reports caused heavy realiz-
ing sales today in wheat Compared with
of 1ssc. Corn is down a shade, Oats
are nc off and provisions ~ to soc.
Buyers of wheat We're out in force at
result was a strong start, the July option
being up a shade to 3s @1ac, at SSB @S9A G.
The initial frmness was due partly to
higher cables. but the strength in the
chief supporting factor. For time the
market was extremely bul1ish and prices
continued to advance, July selling up
to 891sc. The upward tendency received
some impetus from rumor that the Mis-
souri, crop report would show conSidera Die
deteriorat ton in the condition of the grow
west also increased the demand for wheat
I in this market. As the session advanced,
however, sentiment gradually changed
Numerous reports Were received stating
hon1a had been largely overestimated.
number of such reports were received
from St. Louis and to add emphasis to
panied the bearish advices. The worlds
visible supply was another source of dis
appointment to the bulls, the figures, as
compiled by BradstTeet's, showing dc,
with a decrease of 100000 bushels
year ago. Commission houses became
liberal sellers, and many of the early buy
eTS ndSleQoQ To TAKE pTOlllS. VII liiO
heavy selling prices started downward;
the market being void of any material
support. When July had fallen to 81 sc,
drop of over cents from the high
points, shorts covered quite freely, caus-
ing slight rally. The close, however,
was weak with July at 87as @S71ac. May
closed at 957se, after selling between 95%
@s7Nc.
equal to $4,000 bushels. Primary re-
ceipts were $4,000 bushels, compared
apolis. Duluth and Chicago reported re-
eeipts of 251 cars, against 800 cars last
week and 306 cars year ago.
Corn Is Nervous.
Ale active general trade was witnessed
in the corn pit, but nervous feeling was
manifested The crowd was dls pos d., 70
and there was good demand for both
May and July corn during the first houTs
the market showing fair amount OF
ment in wheat set in the corn market
eased off in sympathy. Covering by
shorts checked the declining tendency, but
the efeslng was easer so s ne ePenea
@5a1sc, and closed at 5134@51Bc. May
ranged between 5414@551scs closing at
55c. Local receipts were 202 cars, with
81, of contract grade.
Oats followed the course of other grain,
the market being governed almost eX,
clusively by the action of wheat and
corn Inefe were very Lew OiEelH lSo oii
the market early in the day, and a fair
scattered demand caused considerable
advance. The selling increased late in
the day owing to the decline in wheat,
and in consequence the market became
easier. After opening a shade to Is PIC
higher, at 1875 @sses July sold between
385s 03S5sc. Local receipts were 205 cars.
Provisions were firm early in the ses-,
sion on an. active commission house de-
mand the strength in grains being the
.,,fJ. r1ya+ fa1f 40
effects of the late selling in wheat and
corn, realizing sales causing losses
throughout the entire list. The close was
weak with July pork down soc, at $13. 25.
July lard was off. 10c at S7.121a and ribs
were down Tx @10c, at $7.05.
Range of Quotations.
The leading futures ranged as follows:
Omen / IJigJ9 I low / Close