The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-06-09
AIRY OF THE DAYS TRANSACTIONS INsTHE MARKETS
JULY WHEAT is DOWN
INDiA's BIG CROP PROMISE INDUCES
PROFiT-TAkING
Large Decrease OF Northwestern Receipts
Does Not DlssEpate Bearish Sentiment
Rally Comes Only to BE Followed by
Decline

CHICAGO. June S.-Confirmation of
record breaking crop of wheat in India
induced profit-taking In wheat today,
Selling pressure was emphasized bv
guesses that the government report would
snow an Improvement in crop conditions
~ the close July wheat was down lac.
Corn - off #@Ac- Oats show a loss OF
IS H &C, and provisions 27zc to 12hc.
Under the influence of weather condi-
tfons and Indifferent cables the wheat
market opened weak. July delivery being
Sentiment in the pit was quite bearish
IN spite of a considerable decrease of re-
ce1pts IN the Northwest There were no
Dig trades The commission house ele-
ment apparently had little disposition to
take either side of the market Toward
Inc END or the first hour the market be-
zane nrmer on buying by pit operators.
The, cause of the improved demand was
an official forecast of rain in the south
vest where harvesting is now under way
Urinary receipts also were much smaller
! man year ago. On this squirt July raj
ileo 10 SS1sc. AS the session advanced
however. sentiment again became weak
Prfyate cablegrams from India confirmed
previous Improvements of record-break-
ING crop. Advances from the Southwest
stated that favorable progress was being
mace IN harveS ting. News from the
northwest regarding spring wheat showed
lnal the crop was IN excellent condition.
a report or a local statisticfan claimed
tnat within the past month the condi-
tlon OF wheat had improved about 2 per
cent Lack of business couples with
the large number Of bear reports seeming
" dIsheartened small holders The result
was liberal liquidation from that source
curing the latter part of the session.
Mu a, on the late profit taking was due to
prec1ctlonS that the government report
90 De issued Friday, would be extremely
Dear1Sn regarding spring wheat The
market m closed weak. After selling at
bAc, July closed at 867s GDS7c
Clearances of wheat and flour were
equal 70 25,S09 bu. Primary receipts were
Z6S,yUO bu against 355 100 bu q year ago
minneapolis. Duluth and Chicago reported
cars last week and S02 cars year ago.
Corn Is Also Of
q E1ariy IN the day sentiment in corn was
HTn due to small local receipfs weak
ness ness OF wheat, however, soon brought out
numerous realizing sales resulting in a
gradual decline through the remainder of
the session. There was some selling on
Iarge primary receipts. Indications for
DetleT weather were also against the mar
ket. The close was at the low noinf Jn1.y
opened unchanged to &c higher at 4gILc
70 492sc. sold down to 4S9c and closed at
1G;fh &c 70 IS. Local receipts were 237 cars,
Win 81 OF contract grade
oats We're the strongest of the grains
ana showed only a slight loss The weak
ness ness on wheat and corn was offset to a
larger extent by small receipts and nv tha
scarcity of the cash article 1rra5ines vs.
hsnt In volume and confined mainly to
scdlperS After opening unchanged to a
SAdde n1snef, at 39A W397sc, July ranged
DetWeen $3.50 and Acc, and closed at
$3.50 Local receipts were 162 cars. An
advance Of Toe to 15c in hog prices caused
q strong tone in provisions early in the
DAY, put during the latter part of the ses-
sl9 ql the InltIal gain was all lost on profit
taxing Weakness of corn was partly re-
sponsIble for the late selling, At the
close September pork was down 121@c. al
$aZ;zg september lard was off 215c. at
$6-dIls- Ribs closed 5@715c lower. at
$t,047z Estimated receipts for tomorrow
Wheat, e2S cars; corn. S94 cars: oats 81
cars; hogs. 81. eco head. =
Range of Quotations
The leading futures ranged as follows: