The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-04-07

CHICAGO. April Cash wheat was
so scarce today that sales OF No. north
efn We're made here at &c over the May
price, premium higher than any htth-
sharp rally in speculative prices, the
closing figures on the July option showing
a gain Of 1kc over Mondays final quota
lions. Corn and oats are each up a shade.
PROVISIONS are off IL @20c.
Weakness in foreign grain markets and
favorable weather throughout the United
wheat early in the day. The majority of
reports from the Southwest noted an i'm
provement in crop prospects now that rain
and milder temperatures have had time
Northwest also reported prospects good
for early seeding. Sentiment, consequent
ly. was quite bearish. and selling orders
In large numbers came out at the start
Initial quotations on July were down 70 a
1c. at S53s @S5Ac. During the first hour
no support was Forthcoming and prices
declined still further, July selling off to
85Ac At this lower point there was
considerable covering by shorts. Many
of the early sellers turned buyers. AS
the session advanced the situation be-
came stronger, the demand becoming
more general in character. There was
good buying by the Northwest under the
at Minneapolis. Much of the late bullish-
ness, however, was due not only to the
strength of the cash situation, but to re-
ports of fair export business at the
the top, final figures on July being at
S67sc. May sold between 9294c and 947sc
and closed at 94%c.
Clearances of wheat and -four were
equal to 492, 900 bu. Primary receipts
were 653, 800 bu. against $685. 100 bu a
year ago. Minneapolis. Duluth and Chi
cago reported receipts of 241 cars, COM
pared with 274 cars last week and 1919
cars a year ago.
Corn Weak, Then Firm.
Under the impression that the principal
long was dtsposing of his line, pit trad
ers and small holders sold corn freely
weak market Excellent weather was
also an important factor in bringing out
the liberal selling orders. Receipts were
only moderate, but contained an increased
percentage of contract grain. On the
break the big holders picked up lot of
July corn, and the buying from this source
brought out a general demand late in the
day. resulting In the market becoming
quite firm. A sharp advance in wheat
added to the bullishness A complete re-
covery of the early loss was made in dis
slight loss: July opened A@$sc to % a 14c
lower at 52B @521Ac. sold between $3.50
and SIC ana closed at 52%c. May ranged
peIWeen o52sc ana 5594c and closed az
Al of contract grade.
Oats followed the course of wheat and
corn, being, weak early on general sell
ing and rallying later on liberal covering
by shorts. The close was firm, with
prices about on a level with Mondays
final quotations. After opening A@Ac
lower at 3734 0377sc, July ranged between
374c and 3S1sc and closed at 3S@3S1sc.
Local receipts were 1913 cars.
Provisions were weak on persistent sell
ing by commission houses In the face of
only a moderate demand. The early
weakness in grains and decline of 100
15c in the price of hogs were the main
bear factors. The market closed weak,
with July pork 171s @2Oc lower at
$13 a1212. July lard closed down 715c at
81 .0212, and ribs were also off 715c at
Sc. 921a.
Range of Quotations.
The leading futures ranged as follows: