The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-06-13
WHEAT GOES DOWNWARD
BEARIsH CROP REPORTS GIVE
RISE TO LIQUIDATION
This Is Partially NeutraIIzed by Abnor-
maliy Wet Weather In Manitoba
Northern PacIfic's Crop Report Has I'm
Portant influence

CHICAGO, June 11.-Abnormally wet
weather in Manitoba helped to con-
siderable extent in offsetting the effect
Of liquidation in wheat today due to
bearish crop reports July wheat, how
ever, closed at a loss of A@3sc. Corn is
OF zee. oats are down NC. Provisions
show a gain of &c to 15c
An excellent weather map and the
pearlSh government crop report were the
main factors in the wheat pit at the
opening, although an easier one in for
e1gn markets had some effect here In
ltlal quotations on July were off &c to
A@7sc, at S5a4c to 85 q Q86e. Sentiment
IN the pit was quite bearish, the majority
OF traders being disposed to take the
selllng sides of the market Bidding was
very light. trade being chiefly in the way
OF evening up over Sunday During the
IrSt part of the session the tendency
OF prices was steadily downward. Bear
lsh crop reports were received which add
ed to the weakness. A prominent factor
IN the situation was a crop report of the
Northern Pacific railroad company which
stated that spring wheat is fully as adj
Xanced now as at the corresponding time
last year. The fact that harvesting is
Wei under way also seemed to attract
traders to the bear side. During the last
hour the market showed some resistance
10 the deciding tendency. Demand for
september Wheat was of sufficient vol
ume to cause a considerable advance in
that delivery. Advices from Winnipeg
TO the effect that weather in Manitoba
during the past week has been abnor-
mally wet had some influence on late
trading. In sympathy with the firmness
of September the July option made a
g5artlai recovery. After selling. off to
80 &c, July closed at $3.50.
Clearances Of wheat and flour were
equal to 205.500 bu. Primary receipts
were 23S, 800. bu compared with sos, 800 bu
year ago. Minneapolis Duluth and
Chicago reported receipts of 210 cars
against 149 cars last week and 300 cars
year ago.
Weak Undertone in Corn
A number of bearish influences, the
most potent of which were the weakness
OF wheat and a large increase in the
movement. tended to create weak I'M
dertone IN corn. Primary receipts today
were almost double those of a year ago.
The weather also was against the mar
ket. The volume of business was light
trading being confined mainly to Scalpers.
July opened 1se to. Ac lower, at 1850
to 48Ac, sold down to 4SAc and closed
at 1880. Local receipts were sos cars
with % of contract grade,
the oats market was slow, but under
the influence of the government report
which claimed considerable decrease
from last year in total acreage, the price
OF September was firm. July was eX-
Lremely duI and weak, giving the ap-
interests. A good cash demand and
moderate receipts were bull factors.
After opening unchanged, at 395sc, July
ran between 39A @393se and 1850 and
closed at S912c. Local receipts were 122
cars. s...-z.s,--e--
on active covering by commission
houses and packers provisions We're
strong the entire session. The belief still
prevailed that Eastern capitalists hold
long line of ribs Strength Of hog
prices was a help. At the close Septem-
Der pork was up 1914 @15c, at $12.771s a
II. so. Lard was sc higher, at Sc 95
Ribs were up TIC, at $7.371s Estimated
receipts for Monday: Wheat, 81 cars;
corn, 522 cars; oats, 1872 cars; hogs, A, 900
head
Range of Quotations
The leading futures ranged as follows: