The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-10-26
WHEAT SHOWS DECLINE
DUE To POSSIBLE CLOSING OF
NORTHWESTERN MILLS
Sentiment Is 8earish From Several
causes-Then Prices Advance, but Soon
Go Down Again

CHICAGO. Oct. 25.-Reports of possi-
bic shutdown OF Northwest flour mills
caused decline of / sse in wheat prices
here today The market closed at al
most the lowest point of the day. Corn
is up re. Oats are ND a shade Provi-
sions are 1211c to 221bc down.
AS result of easier cables, sentiment
in the wheat pit at the start was rather
bearish, December being off Nc to &c
at 81 .151s to 81 .155s. May was down nc
to sc at 81 14Ss to 81. Az. Local longs,
had considerable wheat for sale, mostly
for May delivery. The May option, as a
result, showed greater weakness, and De-
cember selling off to 81. 14A Later the
market rallied considerably ON covering
by shorts. who bought freely on small
ness of the primary movement and on re-
ports of wet weather in the Canadian
Northwest On the upturn December sold
at 81 .16 and May at 81. 14% 81 IA h. A.
radical change in sentiment was expe-s
rlenced late. in the day as the result of
bearish advices from the Northwest,
where heavy decrease in -four trade was
reported. A rumor was circulated that
Minneapolis mills would be compelled to
shut down owing to the slackened demand
for flour. Sales of large quantities of
wheat by houses with Northwestern con-
nections seemed to give additional weight
Ito depressing reports. Before the decline
was checked December had dropped to
market closed extremely weak, with De-
cember at LAY @1. 145s. Final quota
tions on May were art $1.13ss
ClearanceS of wheat and flour were
equal to 23, 600 blu. The worlds visible
supply. as shown by Bradstreet's, increased
$4,000 00 bu.- Primary receipts were ], ia,
700 bu. compared with 1.229, 100 bu a year
ago. Minneapolis, Duluth. and Chicago re-
ported receipts of 957 cars, against 1,158
last week and 972 cars a year ago
Corn Goes the Other Way
Sentiment in the corn pit early in the
day was tIifle easier as a result of ideal
weather conditions and lower prices of
wheat. The market. however. quickly
recovered from the slight initial depres-
sion, the advance having it's inception in
a strong cash situation. Light country
aceeptances also aided the upturn. De-
cenber opened unchanged to Il C lower at
4S7se to 4834c. sold UP to 1880 and closed
at 491Sc. Local receipts were $50 cars,
with Is of contract grade.
Oats were firm with local traders in
clined to the buying side because of the
bulliSh trend of corn. A decrease of ST.
600 bu in the available supplies for the
week, as shown by BraElstreets s, was a bull
factor. Alters opening shade lower at
2SS4c December advanced to 29@291sc and
closed at 287sc. Local receipts were 172
cars.
Provisions were weak under the in
huence Of persistent selling by pit traders.
A decline of 1Oc in hog prices had con-
siderable effect on provisions. At the
close January pork was off 221ac at
So .325 u. Lard was down >1715c at ST 10.
Ribs closed with a loss of 1216c t $6.4212.
Estimated receipts for tomorrow are:
Wheat, so cars; corn 70 cars; oats, IS
cars; hogs, ,25, 600 head.
Range of Quotations
The leading futures ranged as follows: