The Saint Paul globe., 1904-10-21
WHEAT HAS A DECLINE
PRIMARY RECEIPTS INCREASE AND
CASH WHEAT is LOWER
Opening Is Marked by Firm Undertohe
Due to Reported Scarcity of Milling
Wheat-Break in Minneapolis Brings
Out Heavy Sales

CHICAGO, Oct. 20.-Increased primary
receipts and lower prices for cash wheat
caused a decline in speculative wheat
prices here today. At the close the De-
off Ac. Corn shows loss Of &c. Oats are
off 74c. Provisions are unchanged to DC
higher.
Notwithstanding liberal receipts in the
Northwest and easier cables. firm un-
dertone prevailed in the wheat market
at the opening December Na3saR 3sa bite ne
May was &c lower to, Ac. higher, at sf.1SA
to $1141S. The initial hrmness was due
mainly to reported scarcity. of milling
wheat A sharp break in prices at Min
heavy sales here by pit traders and com
mission houses; the impression appar-
emily being that the lower prices In the
Northwest foreshadowed a still greater
increase in the country movement in that
section. In consequence sentiment for
time was rather beaFish. The declining
tendency was checked by an active demand
from shorts and some of the big bull oper-
ators. Following rally of Minneapolis
the market here also became strong, De-
cember advancing to 81 .161 Is. May also
sold up to S1.14B. On a sharp break IN
corn about this time the wheat market
result of which sentiment became quite
weak. Selling pressure was increased by
larger arrivals at Kansas City and st.
Louis and by exceedingly small exports
1Or the DAY. 4 -1fldIkel. WdS sluI tllG1
weakened by the execution of stop loss
orders and by a slackened demand for
cash wheat at all outside points. The
low point on December for the day was
reached at $1.14A, and on May at 81 .12B.
Some recovery was made on covering by
shorts, but the close was weak, with De-
cenlber at S1145s 61.143l- Final quota
tions on May were at $1.1S5s.
Clearances on wheat and flour were
equal to 1906 bu, the exports consisting
entirely of flour. Primary receipts were
LOSS, 200 bu. compared with 901 800 bu a
year ago. Minneapolis, Duluth and Chi
cago reported receipts of SIS cars. against
S27 cars last week and BIS cars year
ago.
Corn Shows Loss
Firm cables and wet weather in por
tionS of the West caused an active de-
mand for corn early in the session. result
ing in strong market. Sentiment sud-
denly became extremely weak, however,
in consequence of general liquidation Of
December. The selling was due to an
announcement that five cars of new corn,
grading No. 2. had been received at Kan
sas City. During the last half hour the
market rallied slightly on covering. but
predictions of clear, cool weather for to-
morrow prevented any decided advance.
December opened unchanged to 5sc higher
at 4955c to 1880, sold between 4Sc and
40 q 049zsc, and closed at 4S$sc Local
receipts were 79 cars, with 8 of contract
grade.
The action of wheat and corn was the
dominating influence in the oats market.
Commission houses were fair buyers on
an early advance, but sold out later in
the day. December opened a shade high
er, at 29@291sc. ranged between 269sc
and 293s @291sc, and closed at 2SAc. Lo-
cal receipts were la cars.
Provisions were steady on fair support
by pit traders. Trading was very quiet.
partly as a result of a scarcity of offer
ings. At the close January pork><Was up
sc at $12.40. Lard was down 21sc at
S717A. Ribs were unchanged at S. ".
Estimated receipts for tomorrow:
Wheat, 92 cars: corn. 104 cars; oats, 104
cars; hogs, loco head.
Range of Quotations
The leading futures ranged as follows: