The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-03-05
WHEAT IS UNCHANGED
MARKET TAKES A RATHER UNSET
TIED COURSE
Rush to Buy Causes Temporary Rise
After a Lower Observation-Disclosures Is
Lost, Rally Comes, Then Another De-
cline.

CHICAGO. March 4.-Russian and
american crop reports today offset the
effects OF lower quotations from foreign
wheat markets. Final figures here on
May wheat were precisely the same as last
night. July was &c higher MAY corn
is up &c and oats 5000. Provisions
are unchanged to 25c lower.
Under the influence of lower cables the
wheat market opened somewhat unset
tied, with May unchanged to 1c lower at
g6gs7e. Initial quotations on July were
Commission houses, however, were active
Duyers at the start, owing to reports from
Russia that wheat crop prospects were
unfavorable. Business was of considerable
the cause. Of temporary rise to 99c in
the May delivery The price Of July like
wise advanced to, CSC before there was
fion Manp Of tia is to cause
lshly inclined. and on the bulge were
easily induced to take the selling side
Offerings became SO liberal that the adj
97c. while July reacted to 91hc. Then
some additional bull news regarding crop
prospects began to circulate with a re-
sultant change in sentiment. The Ohio
crop report showed the condition Of wheat
to be only So as compared with "a a
year ago. The drouth in the Southwest
still continued and a good cash demand
was reported from the Northwest. Many
offerings were hard to find
There was a good demand for July and
the. price of that option rose to 93Ac,
or more. The market held firm until near
the close. when another decline occurred
on. liberal prof1t-taking. Prices at the
finish We're steady, with May at. SIC and
flour were equal to 114,4O0 bu. Primary
receipts were 464,9O0 blu, against 401, 900
bu. Exports of wheat and flour for the
week were equal to 1 ,643, 900 bu. Mime
md fn6 o.
ceipts Of 275 cars, against 246 last week
and POI year ago.
Corn Is Strong.
Heavy purchases by a prominent pro-
vision interest together with active buy
ing by several large commission houses
was free liquidation on the advances, but
the buying was of such character that
prices were not depressed to any great ex-
tent, and there was always a good demand
demand and smaller receipts at primary
points more than offset the influence Of
lower cables. The close was well toward
the top price of the day. May opened 1sc
to 521ac, then rallied to $3.50, closing at
531ac. July showed a net gain for the
day of lie. closing at 5214c, after ranging
between 51Hc and 521kc. Local receipts
were ITO cars, with one of contract grade.
Offerings Of oats were scarce at the
opening and on good general buying there
was a quick jump in prices. Liquidation
by local longs checked the advance. how
ever, and caused sharp reaction. On the
break there was active covering of July,
the pit crowd being under the impression
that an attempt was being made by one
or two of the large interests to accumu-
late line in that delivery. The market
continued strong the remainder of the
session. The opening on May was B@Ac
to %@1c higher at 40%c to 411Ac. After
selling between 40c and 41Bc, the close
was at 41Ac. July ranged between 381sc
and 40c, and closed 11ac higher at 39Ac.
Local receipts were 203 cars.
Provisions were unsettled, with trad
ing about evenly divided. The market
opened strong with new investment buy
ing by commission houses in evidence. On
the advance there was liberal realizing
which resulted in reaction. The feature
in trading was the selling of May pork
and consequent break of so cents in
the price of that product. Lower prices
for hogs at the yards were the main bear
influence The close was steady at the de-
cline, with May pork Csc lower at 1882
May lard unchanged at $7.25, and ribs
down 171sc at s7.071s. Estimated receipts
for tomorrow: Wheat, 25 cars; corn. 260
cars; oats, 255 cars; hogs, $4,000 head.
Range of Quotations.
The leading futures ranged as follows: