The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-09-18

PROPS DESERT WHEAT
PRICES CLOSED AT THE LOWEST
POINT, FOUR CENTS DOWN
Fine Weather Continues, Cables Are Low
er and Shipments From Australia In
crease-corn Also Declines

CHICAGO, Sept. denomination of
excellent weather conditions knocked the
last props from under the wheat mar
low yesterdays final quotations. The
market closed practically at the lowest
point OF the day. Corn is off &c. Oats are
down Ac and provisions 5@7Hc
The opening in wheat was weak, the
December option being down 1s@Ac to
ZgBc at $lI2as to $1.1S. May was off
%@ kc to &@%c at s1.141 to 81. 14ak.
weakness Were numerous. The most
prominent factors, however, Were lower
cables. big increase in shipments from
throughout the wheat growing sections Of
the United States and Canada No news
OF poor threshfng returns was in evil
uence, and with compare lively few buying
orders there was apparently nothing for
the market to do except decline. The Oft
heralded free movement In the country
Northwest seemed to have begun in
earnest, receipts at Minneapolis and Du-
iuth today being much heavier than for
the corresponding days. last week and
a year ago. AS a result of the more lib
eraI arrivals, the Northwestern markets
We're weaker. Lower prices in those mar
ketS added downward impetus to the de-
Ginning prices here. From the start there
was lot of long wheat for sale and
commission houses had numerous stop
loss orders to execute. A little demand
from shorts was totally inadequate = to
stem the receding prices, the market be-
SOiiiiilS WSdhSI DIS Inc SESSION COQt1nQeus
During the final hour of trading the de-
sire to sell became intense and prices
broke sharply, The low point on Decem-
Der was reached at 81 09. MAY sold off
$111@1.113s
Clearances of wheat and -four were
equal to $4,000 bushels Primary receipts
We're 929,500 bushels, compared with $685.
100 bushels year ago. Minneapolis, Du-
luth and Chicago receipts Were 7O9 cars.
against 332 cars last week and $50 cars a
year ago.
Not Good Day for Corn
Good ma turing weather, lower cables, a
continued heavy movement of the old
crop and the break in wheat tell the story
of a weak corn market. Private messages
of the new crop were decidedly bearish
fully 80 per cent of the crop being re-
ported safe from damage by frost. There
was liberal profit taking throughout the
shorts December opened Ac to &c low
er at 5O1Rc to 50Hc, sold off to SOC and
closed at 50Ac. Local receipts were 524
cars, with "a of contract grade
Considering the weakness of wheat and
corn, the oats market held remarkably
steady. There was only moderate profit
taking, while a fair demand was mani
tested the entire session. December open
ed &c to A@3sc lower at. 80 " @325see to
32Mc, sold between 325sc and 5234 and
closed at 325sc. Local receipts were 173
The bulk Of trading in provisions was
in the way of changing from the October
to the January delivery Prices We're a
trifie lower in sympathy with the weak
ness Of wheat and corn. AT the close jan
uary pork and lard were each down 71bc
at $12 :677s and 81 .02- and 81 .05 respective
1y. Ribs were off &c at Sc. 60@6 .621a.
Estimated receipts for. Monday. Wheat,
So cars: corn, 535 cars; oats, 40 cars;
hogs, $4,000 head
Range of Quotations go
The leading futures ranged as follows:
Omen. High | low | CLOSE