The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-04-09
WHEAT IS UP A NOTCH
ACTIVE BUYING FOLLOWS BAD
WEATHER PREDICTIONS
Market BuIlish at First and Then
Yields to Weakening Influence-Rally
Is Produced by Situation in the
Northwest.

CHICAGO, April S.-Blizzards, with
an official forecast of a cold wave,
caused active buying of wheat today.
There was a net gain of 81 @Bc in
July delivery. Corn is up A@3sc, oats
9sc and provisions 5012Rc.
Weather conditions were the chief
consideration with wheat traders, With
storms in the West, Northwest and
central valleys apprehension was rife
concerning farming operations APP
parently the fact that moisture was
greatly needed did not at first appeal to
the majority of traders. The market
opened firm, with July a shade to Nc
higher, at 87@8718c to 87Ac. Cables,
however, were weak, and it was not
long before sentiment seemed to change
in regard to the weather. Wheat,
at first regarded as a bull factor, be-
came a weakening influence. Some of
the big operators had wheat for sale on
the initial advance. 1t was principally
long wheat, and the selling was done
seemingly under the impression that
the situation warranted decline. Crop
reports from two private authorities
were bearish, showing an improvement
in the condition of the growing wheat
For a time there was quite general
selling, under the influence of which
July reacted to 861@ @865sc. Later in
the session the market had quick re-
cOvery. A cold wave was predicted by
the weather bureau, and reports were
received stating that the temperature
dropped below the freezing point in
Northern Kansas. AdviceS from the
Northwest were extremely bulliSh.
Heavy SHOWS were reported to have
fallen in the Red river country. An
advance of 1%c at Minneapolis helped
to stimulate the demand for wheat
here, unusual activity resulting during
the last hour. July sold UP to $3.50
and closed strong at 87% @87Hc. May
ranged between $3.50 and 95hc, and
closed at 95Ac.
Clearances of wheat and flour were
equal to 101, 800 bu. Exports Of wheat
and flour for the week, as reported by
Bradstreets, were equal to 1,854,400
blu. Primary receipts were $4,000 bu,
against a holiday last year. Minneap-
oils, Duluth and Chicago reported re-
ceipts of 244 cars, compared with holi-
days last week and year ago.
Corn Is Firmed Up by Wheat.
Unfavorable weather for the move
ment caused a firm opening in corn,
but there was a strong disposition to
sell at the improved prices, and with
little support the market soon weaken
ed. The decline was partly due to low
er Liverpool cables and partly to the
4hdCIlNIlS I'll TIE I9dQlIlS DULL trader.
Later there was good buying by a big
holder and by provision houses, result
ing in a rally of nearly a cent On
scattered selling, however, nearly all
of the gain was lost. The late strength
in wheat caused a firm tone at the
close. July opened Il @3sc higher, at
81 u 0515sc. After selling, between
81 Bc and 52kc, the close was at 81 y
@515sc. May ranged bteween 531sc
and 54Ac, and closed at 53%c. Local
receipts were 1874 cars, with thirty-six
of contract grade.
Oats were strong on local buying and
on covering by shorts. Weather con-
ditions favored higher prices, although
crop reports were moderately bearish.
Small receipts and a good cash de-
mand were prominent bull factors
Strength in wheat was a late influence.
July opened unchanged to &c higher,
at 37% @371sc, sold between 37%c and
80 5sc, and closed at $3.50. Local re-
ce1pts We're s1Xty-five cars.
An increased investment demand was
largely responsible for firm provision
market. Small receipts of hogs and
late firmness in grains were instru-
mental in bringing out the improved
demand. The market closed firm. with
July pork 10@1212c higher, at $12.95@
12.977a; July lard was up 10c, at
$6.9272, and ribs SC, at $685..
Range of Quotations.
The leading futures ranged as follows:
IJioI, / 7 60 I TIIo-o