The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-03-26
WHEAT GOES HIGHER
EFFECTS OF THE STORMS AND
FLOODS ARE FEARED
Demand Is Urgent From the Beginning,
Both the Pit Crowd and Commission
Houses Being Active Buyers-North-
western Situation is Bull Factor.

CHICAGO. March 25.-Fear as to the
effects of the widespread storms and
floods caused a net advance Of rs @1sc to-
day IN IN wheat Corn gained q scc oats are
The opening in wheat was firm In SYM
pathy with higher prices in foreign mar
kets. July was unchanged to Nc higher
at SIC to 87Ac. There was an urgent de-
mand from the start, the pit crowd being
active buyers on prospects OF decided
drop in temperature In the southwest:
Commission houses also had plenty OF
buying orders. Offerings, however, We're
light As the session advanced the mar
ket became stronger. The situation In
the Northwest was an important bull rae
tor, the wheat market at Minneapolis be-
ing decidedly strong owing to an excellent
cash demand, notwithstanding the shut
down of eighteen mills. There was con-
siderable buying here for Northwest ac-
count and the Southwest was also fair
purchaser in this market. A private crop
report claimed that the outlook for a
favorable crop of winter wheat was far
from good. the condition at the present
time being worse than that of any recent
year Before any reaction occurred July
advanced to SS3sc. On the bulge many or
the early buyers turned sellers, causing
decline of nearly L. The closing tone,
however. was strong with July at S7s@
8714e. After ranging between 94Ac and
96c, May closed at csc.
Clearances of wheat and flour were
equal to $4,000 bu. Primary receipts We're
412, 800 blu. against 365, 700 blu year ago.
Exports of wheat and flour for the week.
according to Bradstreet's, were equal TO
1,S01,SO bu Minneapolis Dulutn ana Gnl.
349 cars last week and 23S cars a year
ago.
Corn Is Bought Heavily.
The feature in corn was the buying OF
about 900, 900 bu of May ~ a promi-
nent operator. who was recently long on
May wheat. The buying from this source
induced the pit crowd to follow. and it
was not until late in the session that any
the meantime the price of the May de-
livery had advanced nearly &c from the
opening figures, and the strength of the
nearby option carried the price of the
more distant futures upward in sym
pathy. The sentiment was helped some
what by the bullish advices from Illinois
in regard to the quality of corn IN Cribs
There was considerable profit taxing late
from the high point. The close. however,
was strong, with May at 3d. after it had
ranged between 523sc and 54c. July open
49Ac, sold between 1880 and 50%c and
closed at 501s @50Ac. Local receipts We're
Ill cars, with ten of contract grade
e7 The strength in wheat and corn was
the principal factor In maintaining firm
tone in oats. One or two bull interests
were liberal buyers during the early part
of the session, but later In the day the
demand became slack. Scattered selling
due to the late reaction in corn caused
some weakening in values, but the close
was firm. July. opened 1sc. to H@Ae high
er at @37Ac to 375s @37a4c,. sold between
37% @37s4c and 3SAc and closed at 97a4 q
37%c. Local receipts were IA cars.
Provisions were strong on apparent
support from packing interests. Strength
in grains offset lower prices at the yards
There was some realizing on an early ad-
vance, but the market closed firm, July
pork being up 71a@D10c at $13 80. July lard
was sc higher at 81 10 and ribs up 5@71sc
at $7.05.
Range of Quotations.
The leading futures ranged as follows
Open High Low. Close.