The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-07-10
THE DAYS TRANSACTIONS IN THE MARKETS
WHEAT is UNCHANGED
PROPHECY OF GOOD WEATHER
CAUSES LIBERAL REALIZING
Report Of More Rains Brings a Tenn
porary Upward Turn, but Prices
Soon Go the Other Way-Corn and
Oats Are Off

CHICAGO, July Am official fore
cast of bright. warm Weather for Sun
day caused liberal realizing today IN
wheat and effectuaIly checked an up
ward trend of prices. September
wheat closed at exactly last nights
figures: Corn is off IS Ole; oats are
down Is c., and provisions 2h@12hc.
Easier Liverpool cables and pros
poets of better weather in the South
west caused considerable liquidation
of wheat at the opening. Initial quo
tatlons are a trif1e lower than yester-
days figures, September being un-
changed to nc lower, at S3A @S4c.
According to the weather map. how
ever, there had been additional rains
during the night in Kansas This
TACT brought out quite liberal cover
ing by shorts and resulted in tenn
porary upturn, September advancing to
84B @84hc. Nevertheless the general
sentiment in the pit seemed to be in
favor of the bear side. Local holders
had plenty of July wheat for sale. The
pressure resulting soon gained the as
cendancy. Prices started quickly
downward. The weakness of the July
option caused quite general profit taxi
ing In the distant futures, and a de-
cline in September to $3.50 followed.
The market continued weak the re-
mainder of the session. Selling was
largely by longs who did not care to
carry their holdings over Sunday in
view of the predictions of clear.
warm weather throughout the country.
The close On September was at sac.
July ranged between $3.50 and 90hc,
and closed at S8A @8SBc.
ClearanceS of wheat and flour were
equal to $1,000 bu. Primary receipts
were 181, 400 blu, compared with 332.100
blu a year ago. Minneapolis, Duluth
n n hi fol
cars, against 205 cars a year ago.
Corn Loses
Improved weather conditions had an
equally depressing influence on the
corn market sentiment in the pit being
decidedly bearish Weakness of wheat
was an additional bear factor. The
feature of trading was liquidation of
July and a consequent decline in the
price of that option. The distant de-
nyeries were affected by the break in
July. The market closed at the low
point. September opened unchanged
to Nc lower at 49c to 49Ac, sold be-
tween 4SAc and 1890. and closed at
48%c. Local receipts were 125 cars,
with 10 Of contract grade.
Oats were affected similarly to other
grains by the promised improvement
in weather Trading was fairly active
at small decline. Many small hold
ers sold out, and there was some short
selling. The market closed at the low
point. September opened a shade to
Nc lower at 32A to 32% @32kc, rang
ed between 321s @32Ac and 321ac and
closed at 32Ac- Local receipts, rs cars.
weak tone in the hog market was
reflected in the provision pit, trading
in hog products being quite active at a
moderate decline. The weakness was
due largely to selling credited to a
large packing concern and to a lack of
demand from people who have been
supporting the market recently. At the
close September pork was down 12kc
at $3.50. September lard was off SO
1sc at S7.02k @7.05. Ribs showed a
loss of 21a@5c at $3.50.
Estimated receipts tomorrow: Wheat,
s cars; corn, 164 cars; oats, 100 cars;
hogs, $4,000 head.
Range of Quotations
1 Omen High I I ,OW / Close