The Saint Paul globe., 1904-06-24
SUMMARY OF THE DAYS TRANSACTIONS IN THE MARKETS
WHEAT PRICE FALLS
REPORTS FROM NORTHWEST AND
SOUTHWEST ARE 5EARISH
er Opening on BuIiish Advicss-Selling
Pressure Is Considerable

CHICAGO, June 23.-Bearish reports
from the Northwest and Southwest re-
garding the condition of the wheat crop
brought out sufficient realizing sales of
wheat today to cause a slight loss at the
close, September being down nc Corn
and oats are unchanged. Provisions are
up 21kc, to 10c.
When trading began in the wheat pit
there were several factors of a bullish
character in evidence, the most promi-
nent being higher cables and reports Of
unfavorable weather in Argentine There
was a fair general demand mt the start
and the market opened quite firm initial
quotations on July being unchanged to
shade higher at S4Ac to S4Rc to 85c.
september was unchanged at 1870. Dur
ing, the early part of the session offer
ings were light resulting in a still firmer
tone. A decline of % per cent in pri-
mary receipts compared with a year ago
was an influential factor in giving en-
couragement to the bull element A big
storm in Hungary inflicting severe dam
age 70 crops was another incentive to
buy wheat The effect of this demand
was an advance to 85Hc in July and
SOAc in September. As the session pro-
gressed numerous messages were received
from, the Southwest referring to the in
creasing amount of new wheat being de-
Evered a t country stations and to the ex-
cellence of its quality and heavine; of
yield as claimed by the farmers Reports
from the Northwest also were favorable,
and private crop report showed a fair
Improvement in the condition Of the crop.
Toward the end Of the session these bear
1Sh influences overcame the effect of the
early bull factors, and for the remainder
OF the day the market was subjected to
considerable selling pressure. The de-
consequence a weak undertone developed
July selling off to S43sc. September de-
c1lned ito 1890. The close on both Sep
tember and July was at the low point.
i. .CleafanceS of wheat and flour were
equal to 40, 600 bushels Primary receipts
were 213,9OO bushels, compared with $780,
@ guy bushels q year ago. Minneapolis, Du-
luth and Chicago reported receipts of 1853
cars, against 256 cars last week and 2O9
cars year ago.
Little FURRY in Corn
Immediately4a the opening an ur-
gent demand from shorts for July corn
caused slight furry in the market for
mat cereal forcing the price of July
nearly a cent above yesterdays closing
hgure: On the advance offerings were
quite liberal, resulting IN a reaction Firm
eables s.59 and small primary receipts We're
between 4Sssc and 1850 September
fp 9pen.ed NED a shade to 7s@Ae higher at 48ss c
TO 48Nc. sold between 484ze and 49c, and
closed sat 481s @485sc. Local receipts were
21S cars. Is of contract grade.
influenced by bearish private crop re-
port the oats market displayed weak
undeftone. Estimated small receipts for
tomorrow and the early; strength of wheat
helped to steady the market July closed
NO $sc lower at 3SA @38%c September
opened unchanged to a shade higher at
&c to 321sc, sold between 315s @32c and
S21sc, and closed at 32 Local receipts
were 109 ears
PROVISIONS We're firm On moderate sup
port from packers. The principal demand
was, for ribs. The strength of the hog
market helped provisions. September
pork closed 10c higher at $1S20. Lard
was up 21s @5c at $7.1711 Ribs were up
5Q73sc. at $7.67z OF. 20. Estimated re-
cefptS for tomorrow: Wheat 9 cars. corn
SO5 cars; oats, 81 cars; hogs, 20, 600 head
Range of Quotations
The leading futures ranged as follows: