The Saint Paul globe., 1904-01-31
DROP COMES IN WHEAT
MORE PEACEFUL STRAIN FROM THE
ORIENT CAUSES WEAKNESS
Leading Bull Operator Supports the Mar
ket and the Demand IL Less Urgent
Than usuaI-TradIna 10 OF Dragging
Character Most of the Day.

CHICAGO. Jan. 30.-The less belligerent
tone of news from the Orient was the
main influence In the wheat pit today
Small holders took profits. causing de-
cline OF nearly a cent In both the July
and May deliveries. Some of the loss was
regained, but the close was weak with
May N@1ac below last nights final hg-
ures. May corn 5s@Ac lower. but oats
were up 1sc. Provisions were 7hc TO Soc
lower.
The leading bull operator supported the
wheat market on breaks early In the day
and there was also scattered buying from
commission houses. but the demand was
not nearly so urgent as 1t has been re
Gently. In the face of higher prices at
Liverpool, opening quotations here showed
losses, May being off shade to y 20 Ssc
at 90$c to 905sc. July opened 1sq &c to
A@ssc lower at 82Ac to 827sc. Local
holders were inclined to dispose of their
lines, and In spite OF moderate buying by
the big bull interest, prices began 70 seek
July to $3.50, within the first half hour
Trading was of dragging character the
greater part of the day. The market ex-
hibited renewed signs of life. at one time.
when, ON a report that the big holder was
selling July. quite general liquidation In
that delivery developed The price quickly
dropped to SIC, and May sold off in SYM
pathy to S9&c. Late In the day frmer
feeling was manifested on less pressure
to sell, but the improved tone was only
temporary. Renewed profit-taking and
evening up sales ever sunday caused a
weak sentiment to prevail at the finish
A less bullish cash situation In the North
west had a depressing influence on specu-
lative trading here. May closed ssQEc
lower at 9OAc. while July was down "a @
&c at 82Ac.
Clearances of wheat and -four were
equal to 35S.7 700 bushels. Primary receipts
were 536, 100 bushels. against 569.00O bush
els year ago. minneapolis. Duluth ana
Chicago reported receipts OF 2SS cars.
against 373 last week and 352 year
ago.
Corn Also Declines.
Corn. prices declined slightly In sym
pathy with wheat and on selling credited
to leading packer, but taken as whole
the market was a STEADY one. Cables did
not respond to the advance here yester-
day and there was some profit taking on
the improved prospects for peace. Com
mission houses were the best buyers. The
close was steady, with May M@Ac low
er at 501sc, after opening shade lower
to a shade higher at 504c to 50asc and
ranging between SOC and 50He. Local re-
ceipts were 278 cars, none of contract
grade.
In the oats market the strength In the
cash article more than offset the influence
of the easier tone in wheat, and prices
ruled firm throughout the day. Trading
was largely by commission houses. After
opening unchanged to Nc lower. at 42&c
to 43c, May sold between 42Nc and 43Ac.
closing at 43Bc Local receipts We're "A
cars.
Liquidation by commission houses and
selling credited to packers caused weak
ness in provisions. A late decline In the
price of hogs added to the depression. May
pork led in the decline, closing with loss
of 30c at $13 021s. May lard was off 12isc.
at 81 80, while ribs weie down 7H@1oc at
Sc. .625a.
Estimated receipts for Monday: Wheat,
30 cars; corn, $50 cars; oats, 1870 cars;
hogs, $1,000 head
PAM. ~ c,uotations
The leading futures ranged as fofioTs:
4 4 1