The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-05-27
SUMMARY OF THE DAYS TRANSACTIONS IN THE MARKETS
WHEAT TRADE NERVOUS
LATE JOHN KAUFFMAN,s INTERESTS
CAUSE SUSPENSE
Firm Undertone. Prevails in the Opening
Moments-Siens of Weakness in Cash
Markets Affect Trade-JuIy Nets an
Advance.

CHICAGO. May 26.-Nervous suspense
characterized wheat trading today as a
result Of uncertainty concerningMwh
might be done regarding supposed open
trades of John w. Kaufman suddenly
deceased. In consequence business was
restricted in volume and price changes
gain of nc. Corn also is up Ac. Oats
show an advance of &c and provisions
10c to zoe.
For a brief period at the start the
wheat market exhibited a firm under
tone, opening sales of July being up. 1sc
to &c at S6hc to 8S3sc. The question
of the amount Of Kauffman's short i'm
terest in May wheat exerted at first con-
siderable builish influence, offsetting tenn
porarily the effect Of increased Northwest
ern receipts and of continued favorable
weather. AS result May was strong
and for time deferred futures reflected
part of the strength. Steady cables also
tended to support prices. As the session
advanced speculative trading was affected
by signs of weakness in cash markets
throughout the country. Primary re-
ceipts were much larger and a crop re-
port issued at Cincinnati was quite bear
ish. Trading in general was rather light
and during the latter part of the day
prices fiuctuated erraticaliy within a
narrow range. The market closed firm;
with July at SeAc, after the price had
touched S612c. May ranged between 951ac
and &c. closing at $3.50.
Clearances of wheat and -four were
equal to 100000. Primary receipts were
Minneapolis, Duluth and Chicago receipts,
2S2 ears against 1876 year ago.
Corn Operations Hazardous.
The unsettled weather and conflicting
claims as to the probable movements in
the near future made trading in corn
rather hazardous, and in consequence the
volume of business was extremely light.
Under the influence of heavy rains
throughout the corn belt shorts covered
moderately, holding prices firm the en-
tire day. July opened 6c to A@3sc
higher at 48c to 4S1s @4SAc. sold off to
| ATS case and closed at 4S1sc. Local re-
ceiptS were 305 cars, with 81 of contract
grade.
The monotonous dullness of trading in
able extent by the activity in oats. The
feature of trading was covering OF May
by shorts, who were alarmed at the small
contract stocks. There was also liberal
buying credited to big provision interest.
Offerings were light, causing a strong
After opening unchanged to shade high
er. at 3S1sc to 3S1s @3SAc, July sold be-
| tween 3Sc and 39c, closing at $500. Local
receipts were 1874 cars.
Covering by shorts marked the trading
in provisions. Small receipts of hogs and
centives to the improved demand; Heavy
! shipments of meat were an additional
| bull factor. The market closed at about
| the highest point of the day. with July
| pork up zoe, at $1135. July lard was up
121sc. at $3.50. Ribs were 10c higher, at
| $6.5712,
Estimated receipts for tomorrow
Wheat 10 cars; corn. 800 cars; oats, 118
cars; hogs. 10000 head.
Range of Quotations.
The leading futures ranged as follows:
q, n -, / + 1 tloca