The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-04-27
WHEAT ENDS STRONG
LIKE THE OTHER GRAINS, 1T SCORES
AN ADVANCE
Heavy Decrease in the Visible Supply and
Larger Export Demand Help the
Bulls to an Innina-Market Very Bull
lsh in Closing Hour.

CHICAGO, April ga largely decreas-
ed visible supply coupled with a decidedly
increased export demand caused strong
Lnish IN the wheat pit today The july
oe!lVery is up 11sc. Corn made a net
72@10c.
In the face of lower cables there was
an active general demand for wheat at the
opening today. Initial quotations on
July a. uee55Iyyery were &c lower to Hc high
er, whose operations are closely watched
Oy the pit crowd, had considerable to do
Win WIN the days developments. During the
nrst hour there was good buying credited
to him. quick advance followed in
prices, the July option making gain of
ABOUT 42c The market then declined
as rapidly as it had risen. The cause of
tne break was a wild scramble on the
part or early buyers to secure profits the
impression becoming general that the bull
leader had turned seller. The market re-
SS1 ,i ~ l a; support on the way down:
On the decline the price of July dropped
70 oI%c A resumption of purchases by
the principal holder induced active cover
ing by shorts. and prices again started
upward During the last hour of trading
the market was extremely bullish, the
news in general being decidedly favorable
10 buyers. One of the factors in the late
situation was the showing in the world 3
available stocks of wheat as given out
Dy BradStreetS. The statistics ella lined a
net Increase of $4,000 bushels, but the
increase was entirely by European addi-
tons, a decrease of 1000, 600 bushels being
shown in the visible supply of wheat for
America east of the Rocky mountains.
Another influence was the big export bust
ness. transacted in Manitoba wheat.
Strong cash markets. especially in the
Northwest, We're additional bull factors.
There was also a number of crop damage
reports The market closed at the high
est point of the day final figures on July
being at S3Ac. after the price had touched
SO Il 0S3$sc. May sold between S515c and
S61ac. and closed at S63sc.
Clearances of wheat and -four were
equal to "A 500 bushels. Primary receipts
were 2O4S00 bushels, compared with $780,,
500 bushels a year ago. Minneapolis and
Duluth and Chicago reported receipts of
102 cars. against 161 cars last week and
172 cars year ago.
Corn Is Likewise BuIIish.
Notwithstanding a rather unsettled feel
ing in the corn pit, sentiment, on the
whole, was bullish. The start was COM
paratively steady on a fair commission
house demand, but on general selling, due
to Increased receipts, better grading and
lower cables the market became weak.
The early break in wheat had a depressing
influence on corn prices. On the decline
shorts covered freely and the situation
turned strong, the July delivery selling
up 134c in very short time. Strength
in wheat was the late bull factor. AL
though the market did not maintain all
the advance, the close was strong. July
at 47A 0473sc, sold between 4634c and
4S1bc, and closed at 4S1s @4844c May
closed at 1850 Local receipts were 3OS
cars with IA of contract grade.
A bulish sentiment perVaded the oats
pit, the market being independently
strong. Shorts were active buyers through
out the entire day and there was also a
good demand from commission houses.
The break in wheat and corn caused q
slight recession in prices but the reac-
ton was only temporary, the demand be
ing sufficient to bring about quick re-
coYery. Weather and unfavOrable crop
advices We're the principal bull factors.
The market closed strong, with prices near
the top. July opened A@$sc higher, at
36036kc, ranged between $500 and 363sc C,
and closed at 363s @361Ec. Local receipts
were rs cars.
Heavy buying in provisions by brokers
caused filmness at the opening. There
was some liquidation of May products
through commission houses, but offerings
were not excessive until the weakness III
grains caused quite general realizing.
Prices eased off in sympathy with the de
cline in grains, but soon rallied again.
The close was firm, with July pork up
71bm1Oc, at $3.50. July lard and ribs
were each up 715c, at $6.871a and $3.50 re-
spectively.
Range of Quotations.
The leading futures ranged as follows:
1