The Saint Paul globe., 1904-11-13

WHEAT DECLINES A BIT
SENTIMENT IN THE PIE Is INCLINED
TO REARtsffHEss r.
Movement for the Week VIII Show a
Decrease-Northwestern Receipts Light

CHICAGO. Nov. 12--Scarcity Of cash.
wheat held option prices comparatively
steady today. At the close the December
delivery WAS off a shade and May Hc-
Corn is down Nose. Oats are up re
and provisions 71zcto Iz1ke.
Small receipts in the Northwest and
frmness Of cables caused steady tone in
the wheat market at the opening In
ifial quotations on December were &c
higher at s1.14ss May was nc lower to.
Ac higher at s1.14H to sL-l4ss Senti-
ment in the pit, however, was inclined
20 bearishness as the result of fear. that
Inc total worlds movement for the week
would show a considerable increase. While
offerings We're light the demand was not
Sufleient to prevent q decline IN prices,
DecempeF dfepPlns 70 a. 14s7 sMag sold pr
to s1.I3a4 Toward the middle of the
session the market became quite strong.
especially for the May delivery, which ad-
panced to sl+145z- December rallied to
about the opening figure The factors
that contributed to the firmness yester-
day were prominent Influences today. The
cash situation. however. was perhaps the
most potent OF them all. Minneapolis re-
ported an ADVANCE of 4c q bushe1 in the
price Of low grade wheat. while higher
grades We're in good demand at firm.
prices. Arrivals in the Southwest were
much smaller than a year ago mes
sage from Kansas City claimed that the
movement would continue to decrease.
bu less than on the CORRESPONDING dav
year ago. Trading was quiet threuehout
the entire day. operations being confined
manly to local trades. The market closed
May closed at s1.14
Clearances of wheat and -four were
equal to 73. 100 bushels. Primary receipts
We're S39, 200 bushels. compared with l.
259: 800 bushels year ago. Minneapolis
Duluth and Chicago reported receipts OF
bU2 cars, against 786 cars last week and
924 cars year ago.
Similar In Corn
Sentiment in the corn market was bull
ish as result of small stocks, but the
whelmingfy bearish as to hold u1any buy
ers IN check. Excellent weather conditions
also favored the beare Private afiyices
from points IN Illinois indicated that the
new crop Is ready to be moved In bulk
but. on the other hand Nebraska grain
men report that farmers will not sell new
corn. Realizing sales caused an easy tone
late IN the day December opened shade to
H@Hc lower at 51Hc to 51%c sold to
81 1sc and 5254c and closed at 511ke Lo-
cal receipts were 149 cars, with three OF
contract grade.
A good cash demand caused a firm tone
in speculative trading in oats. The volume
or business was very light. December
opened unchanged at 29c sold up to 2S3sc
and closed at 2s1sc. Local receipts were 81
cars.
Provisions were weak early in the ses-.
sion as a result of lower prices at the
yards, but covering by shorts in all prod
ucts caused firm tone. Final Quotations
on January. pork were up 121zc at $12 756
1217h. Lard and ribs were each up TIC at
7.1212 and Sc. 60 respectively
Estimated receipts for Monday: Wheat
q ears corn, 253 cars; oats, lis cars. hogs.
43, 600 head
Range of Quotations
The leading futures ranged as follows: