The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-04-29
SUMMARY OF THE DAYS TRANSACTIONS IN THE MARKETS
WHEAT is FORCED UP
IMPROVEMENT IN WEATHER CON-
DITioNs Is NO DETERRENT
Market Opens Barely Steady, but Strength
Develops on Active Demand-Good Buy
ing From the Southwest Throughout.

CHICAGO, April Notwithstanding
marked Improvement in weather condl-
lions, a majority of traders today were
bulliSh the wheat situation, an ac-
tive general demand forcing prices up
u o. &c for July. Corn is off a shade.
Oats are up 1Ac. Provisions show a loss
of sc to 25c.
The opening in wheat was barely steady
owing to the unresponsive tone OF cables
and to more favorable weather both in
the Northwest and Southwest. The July
delivery was 1s@Hc lower at S314c to
$3.50. There was good demand how
ever, from the start, commission houses
and shorts being active bidders. With
only moderate offerings the market soon
developed considerable strength. The
bullish sentiment was largely the result
OF accrued momentum of previous crop
damage reports and of advices showing
delayed seeding in the Northwest. Many
of the heavy traders made a change Of
front to the buying side and the pit crowd
was apparently willing to follow the lead.
There was good buying throughout the
day from the Southwest, due to small re-
celpts and to an improved cash situation.
Prices steadily advanced until July
touched S5c, from which point some reac-
ton occurred on liberal selling by big
holder. The demand however was of
the very best character and the market
showed no sign of weakness. The close
was strong. with July at 41@S45sc. May
ranged between 86A C and $3.50, and closed
at 8814c.
Clearances of wheat and -four were
$4,000 bu, compared with AL 900 bu
year ago. Minneapolis, Duluth and Chi
cago reported receipts of 70 cars, against
1O4 cars last week and ia cars year
ago.
Corn Follows Upward.
Early in the day traders in the corn
pit were in a quandary owing to the ac-
ton of the leading long and in cOnse
quence the volume of business was light.
The big holder was an open seller while
at the same time brokers, supposedly act
ing for him, were active buyers. Late in
the session, however, the upturn in wheat
encouraged pit traders, who bought freely
both of July and September. There was
also good demand from shorts. The
market responded to the improved buy
ing, the July delivery advancing nearly
1c. All of the gain was subsequently lost
on realizing by the big holder. The mar
ket closed about steady. July opened a
shade lower at 483sc, sold up to 1880 and
closed at 489sc. May ranged between
1870 and 4IAc. closing at 46Bc. Local
receipts were $50 cars, with q of contract
grade.
Oats were independently strong on an
active general demand. The buying was
of such an influential character that the
reactions in wheat and corn had COM
paratively little effect in oats. An ex-
cellent cash demand with 1c advance in
that article was an important bull in
fuence: The July delivery showed a
gain of almost &c, and although all the
advance was not held the market closed
decidedly strong. July opened unchanged
to Ac higher at 37$4 @3Sc, advanced to
1850 and closed at 39c. Local receipts
were SO cars.
Provisions were firm early in the day
on good buying by packers. Later there
was free selling of May pork by commits
sion houses, resulting in a reaction
throughout the whole list The late de-
cline in wheat and corn was a bear factor
Inc market closed easier, with July pork
down 221A@2 at $12 25 July lard was
off sc at $6.S71A. Ribs were 121hc lower at
Sc. so.
Range of Quotations.
The leading futures ranged as follows