The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-05-19
MAY WHEAT ADVANCES.
ELEVATOR BINS PREsENTAFA FAM
lsHED APPEARANCE
Opening Bids Show an Unexpected De-
rnand From Milling centers-Prices
Bulge, Fail OFF and Recover Only
Partially.

CHICAGO. May 1S.-The fanished
appearance of elevator bins caused
May wheat to make net advance of
sc a bashel. While the gain was
regarded as significant. trading in the
May delivery was extremely small
The July option closed about where 1t
did the day before. Corn is up &c.
Oats and provisions show little change.
Early influences in the wheat situa-
ton We're conflicting and a popular be-
lief that values would weaken after
TWO days of pronounced strength was
strengthened by q failure of Liverpool
cables to show reflection of yesfer-
days advance. The opening bids,
nevertheless, showed an unexpected
demand from the milling centers as
well as renewed buying tendency by
foreign interests and initial sales Of
July were at 875sc to S7s4c, a shade
lower to a shade higher, with Septem-
Der 1sc lower at 813sc. Small receipts
here and at Duluth and small contract
stocks appeared to be kept well in
mind by spectators and the demand
from the Northwest was taken to in
dictate an awakening to the heavy in
roads upon the milling supplies A
report, soon denied, that the acreage
OF spring wheat was small by COM
parIson. caused a temporary bulge
which carried July to SSc and Septem-
Der to S1% @81Bc. The reputation of
the report caused the prices of these
options to yield to 87H @87Ac and
81 c, the lowest point for the day.
The close showed some of the loss re-
gained upon renewed general buying
on the break, and final figures were:
July, S57sc, a shade under yesterdays
close; September, unchanged at S81hc.
Clearances of wheat and flour were
equal to 134,574 bushels against 49,
71S for a period of three days a year
ago. Primary receipts were 183, 800,
compared With 220,4 last year. Min
neapoHs and Duluth reported rs cars
received, which, with four locally, one
grading contract. made 80 cars for the
three points against 81 last week and
122 year ago.
Corn Rises Little.
Corn was indebted for its firmness
mainly to the strength of wheat. Of
ferings, like the demand, We're indif-
ferent, and the tone was heavy. July
was unchanged to a shade higher and
September at yesterdays closing fig
ures. After a dip of y a nc and hest
tation around bottom prices, strength
in outside markets and the tone of
wheat started some buying by pit
traders who had sold short and bet
ter tone developed. The close was 1ac
better for July at 4Sc, after the market
had sold up to 4S1sc at it's best. Sep
TENDER closed .3sc higher at 47%c, hc
under the high price of the day. Lo-
cal receipts were SO cars.
Oats held up largely because other
grains did, but the trade was limited
and the advance small. The close
showed July unchanged at 3812c, after
having sold up to SS$se. September
closed Il c higher at 305sc.
Provisions Were firm after small
early declines on the free hog move
ment reported from Western points.
There was fair buying by brokers
whose purchases were credited to the
packers. Final trades in July pork
were at $1L35 @1f.37, a shade over
yesterdays close. July lard closed a
shade higher at $6.47@650. July ribs
were 216c higher at $3.50.
Range of Quotations.
The leading futures ranged as follows: