The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-10-07
WHEAT BREAKS AGAIN
FOREIGN MARKETS ARE WEAK AND
PRIMARY RECEIPTS INCREASE
All Support Is Apparently withdrawn
Shortly After the openine-Materia In
crease in Winter Wheat Acreage Re-
ported

CHICAGO, Oct. 6.EWeakness OF for
eign grain markets and increasing pri-
mary receipts in the United States were
causes of a break of IL @2c in the price
of wheat here today. The market closed
almost at the lowest point of the day
Corn is off 1ss 01kc. Oats are down &c.
Provisions are sc lower to TIC higher.
When trading in the wheat pit be-
gan sentiment was only a trifie. easier
but as the eSession advanced all sup
port was apparently withdrawn and ex-
IRENE weakness developed. The influences
mainly responsible for the slight decline
in prices at. the start We're lower cables
and a report by avCincinnati trade paper
alleging a material increase in the acre
age SoWn with winter wheat.S The condl-
ton of this newly sown wheat was said.
moreover to be FIRST class as result
of recent favorable weather. Initial
quotations on December Were off 1s@A C
at $1.111A01. liz. May was down Il
Nc to Il m2sos at 81 lis al .1114 For a
brief period the market exhibited some
signs of rallying, there being a fair de-
mand for the May delivery from COM
mission houses. The advance in prices,
however, was small, May selling up to
S1.115s. Meantime December sold up to
silly. >
A reaction soon occurred on scattered
selling. During the remainder OF the DAY
the tendency was toward q lower level.
The downward trend was given mo-
mentum by figures. showing an increase In
primary reCefECS-1OFt the Day amounting
: to 80 per cent compared with those for
the corresponding day year ago. Elk
treme weakness of corn had a depressing
influence On the wheat market. AS the
day advanced the selling became general
many stop-loss orders coming out on the
decline. The low point, of the day was
reached on December at 81. 1s, the de-
cline in this month being greater than
in the May delivery owing to more lib
eral offerings of December. May dropped
to 81. 09%. The demand improved con-
fecr n
trading. a report of good flour sales at
Minneapolis furnishing the stimulus to
buy. The, market however closed weak
with December at 81 .099 Final quota
Clearances of wheat and flour We're
equal to $500 bu.s, Primary receipts
were 1,192,5eO bu, compared with $4,000
blu a year ago. Minneapolis, Duluth and
Chicago reported receipts of S78 cars,
against S67 cars last week and-673 a
Corn Descends
A fear that the government crop re
yield caused general liquidation of corn.
An estimate made by a Cincinnati trade
journal of ,400.000,000 bu as the total
yield was generally considered a faithful
forecast of the official figures. The mar
ket was unable to resist the selling pres
sure. and prices broke severely. Deem
Der opened unchanged to 1sc lower at
sic to 51@51kc, sold between 49Ac and
511Sc and closed at 1850 Local receipts
We're 40 cars, with of contract grade.
In sympathV with the weakness of other
grains the Oats market was subject to
Considerable selling pressure. There was
some demand from commission houses,
but the buying was not sufficiently urgent
to prevent a decline in prices. December
opened unchanged to a shade lower at
31B @31Ac to 31Ac. sold off to So1Ac
and closed at the low point. Local re-
ceipts were 203 cars.
The decline in corn had a weakening
influence on the provision market but
" Offset this bear factor. At the close
January pork was off az 6D5c at SIS 27h
C013 80 Lard was up 71ac at 81 go. Ribs
were unchanged at Sc. 80.
Estimated receipts for tomorrow:
Wheat, 4S cars; corn, rs cars; oats, H.
cars; hogs. $4,000 head
Range of Quotations
The leading futures ranged as follows: