The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-10-08
Wheat KEEPSON LOSING
BOTH DECEMBER AND NAY DEETv-
ERIES ARE OFF AGENT
Bears Are IN Favor From the Start and.
They Raid the ACKNOWLEDGEMENTS Con-
tinued Large Northwestern Receipts

CHICAGO Oct IA bear raid on
wheat today resulted in a net loss Of
nearly a cent in the price OF both the De-
ceEnber and MAY deliveries Corn Is or
sc. Oats are down 3 q Aze- PROVISIONS
declined 1919 to 2I12c.
Signs Of weakness were manifested IN
the wheat market at the Immedlate
opening Sentiment among pit traders
generally showed an inclination TO favor
the bear side OF the market This reversal
OF recent existing conditions WIS cue
chiefly TO belief BY MANY traders thar
the present liberal rate or wheat -oe4lNefIeS
in the Northwest was likely TO continue
for a month or more. Additional 1ncef1-
tive 10 sell was furnished by the weak
tone Of cables Prices were reported low
er in all foreign grain markets The
weakness abroad was attributable main
" to increased SHIPMENTS from Argentina
and TO the break IN prices here yesIer=
dav- When trading began here selling WIS
quite general. Initial quotations. showed
slight losses. December being unchanged
to IL lower at S1-091s TO Sl-0sSs. May
was a shade to * % 15c lower at S1-uy12 TO
SI09k. Large receipIs in the South.
west started active selling by houses with
Southwestern connections This was fol-
lowed by pr0T1t taking on the parI OF nu-
merous small longs, who were afraid to
hold lines over the holidays
Practically the only demand came from
shorts Buying TO cover short sales was
not Of sufficient volume TO absorb offer
ings. In consequence prices readily de
clined- A report Dv a ST. Louis trade pa
per stating that no complaints OF cOTlSe-
Ouenee in regard TO fall seeding had been
received brought out additional selling or
deEs- Weakness OF all cash markets had
a further depressing influence on specu-
latiVe prices here. Before the bottom Tor
the day was reached prices mad dropped
nearly . cents from Yesterdays closing
figures. December declining TO S1-oI. May
sold off to 81 oS Late in the daY a rally
OF about cent occurred on DIVING py
shorts. December closing at SluS4U
10S2s. Final quotations on May were ar
81. 09QI.10Is
Clearances of wheat and -four were
equal to II 100 bushels Exports Tor the
week according TO BradsTreets, were
equal TO 1.1e6 600 bushels Primary re-
CENTS were ]. 235.700 bushels, compared
with ]. 4S0. GOO bushels year ago.
Minneapolis Duluth and Chicago re-
ported receipts OF 927 cars. against $50
cars last week and 751 cars a year ago.
corn Also Declines
Extreme weakness prevailed in the corn
market as a result OF continuous HQu1da-
ton on the part of local traders. Excel
lent weather and hints of a bearishE gov
eminent crop report were the prlnc1pa1
factors in creating the urgent selling
pressure A partial recovery was made
late in the day on covering by shorts.
December opened &c 10 re lower ar
1870 TO 494ze- declined 70 4SAc ana
closed at 482c. Local receipts were 80
cars. with OF contract grade.
The weakness OF wheat. and corn hau
LUltLLdl4l1Atia lAlLiC- Ct-ELL uil Ocll-
market prices showing only q slight de-
cline. Selling was light in character, ana
offerings We're readily taken by shorts.
December opened a shade to 3sc lower at
302se to 309AG301zc. sold between 304sc
and 301SC and closed at 30a4 1SeSsc. Lo-
cal receipts were 126 cars
Provisions were affected By the break
in the grain prices. becoming weak dur
ing the latter part of the session. Selling
by local holders was the cause OF the
weakness. At the close January pork was
down 2502715c at S13. 0216. Lard was on
121Rc at 81 4715. Ribs were down 10e at
S6.75-
Estimated receipts for tomorrow:
Wheat. IS ears: corn 222 cars; oats, go
cars, hogs II. 900 head
Range OF Quotations
The leading futures ranged as follows: