The Saint Paul globe., 1904-10-28
WHEAT PRICES RISE.
ANGLO RUSSIANS CRISIS IS THE
MAIN CAUSE
Trade Is Exciting and There Is Scramble
to Secure Wheat-other Things Encour-
age the Bulls A..

CHICAGO, Oct. 27.-Possibility of an
Anglo Russian war was the main cause
of 11Sc advance in wheat prices here TO-
day. Subsequently much of the advance
an - arnicabie @ lie settlement Of the North sea
incident. At the close December wheat
was up &c. The May option showed
gain of &c. Corn made net gain OF 4 @
sc. Oats are up sc and provisions 71sW
The Anglo-Russian diplomatic crisis,
accompanied by drop OF ZIG IN conSeis,
caused an excited showing in the wheat
market here. AN advance of nearly a
cent in prices at Liverpool furnished ad-
ditional evidence of the seriousness on the
European situation In a 5frenzy 10 Sc
cure wheat traders who We're SNORT pla
up the price sharply at the start. mi
tial quotations on December We're up z W
&c to IL 01%c at 1.14A to $El57a May
was up 1c to 1Ac at S1.13% to 81 IA.
BuIlish sentiment was encouraged by
material reduction in Northwestern re-
ceipts, arrivals for the. day being 800
cars less than. the number received the
corresponding day last week: Within the
first few minutes the December option
sold at S1.15H. The high" point, how
on the initial sales. The sharp advance
started heavy liquidation which contin-
ued throughout the remainder of the day
Several large holders Were prominent 1t,,o,a On
fairly well, but much of the early gain
was lost. Toward the middle of the ses-
sion the market became quite weak as
result of increased profit taking. The
weakness brought out many stop loss or
| ders, and in consequence Aprices broke
| nearly &c from the high point of the day.
December dropped to S1s73a4 and May to
$1.12H. Much of the selling was due to
rumor that thes7 Russian commander
had been recalled. Another factor OF ln1-
portance was a Cincinnati trade paper
CROP report. which was considered ex-
tTemely bearish, the report claiming tne
new crop to be in fine condition and the
acreage greatly increased Later IN the
day the market rallied considerably on
fair demand from shorts. The market
closed firm, with December at S1.14AQ
1.143s. Final figures on May were at
Slips.
Clearances of wheat and flour were
equal to 2T,700 bu. Primary receipts were
S44, 500 bu, compared with LIZA, 500 bu
year ago. Minneapolis, Duluth and Chi
cago reported receipts of SIS cars against
ST8 cars last week and 912 cars year
Corn Also Gains
A firm tone prevailed in the corn mar
ket throughout the entire session. War
news and strength of wheat caused active
covering by shorts. Minor factors that
contributed to bufEsh sentiment were
small receipts and a continued good cash
demand. December opened 10 &c to 40
&c higher at 565sc to 50$sc, sold between
1890 and 503sc and closed at 501sc. Lo-
cal receipts were 80 cars, with OF con-
Influenced by the strength of other
grains, the oats market ruled firm. Com
mission houses were fair purchasers. De
eember opened 4e5to 1ae higher at 1886
to 29 97sc, ranged between 294s @291ze and
2s5sc and closed at 2912c. Local receipts
80 cars.
AS a result of the buIIish foreign stu
alton and the strength of grains the pro-
vision market was firm in spite of lower
prices at the yards. Shorts We're the
principal buyers. At the close January
pork was up 106121kc at $12.421s OIL. .45.
Lard and ribs were each up TIC to 10c
at $7.1735 and $3.50, respectively.
Estimated receipts for tomorrow:
cars; hogs, $4,000 head
Range. of Quotations
The leading futures ranged as follows:
- Omen Il HIGH 1 Low Close