The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-03-03
MMARY OF THE DAYS TRANSACTIONS IN THE MARKETS
WHEAT STRENGTHENS
GOVERNMENT REPORTS WINTER
PLANT IN BAD SHAPE
Other Causes Combine to Check the De-
cline and May Closes at Gain of 1Lac
Marked Improvement Shown in Elk
port Demand.

CHICAGO, March z-Alarm officially
expressed for winter wheat. the railroad
cold wave combined today to create
strength in wheat. Closing prices were
about the best Of the day, May being 1sc
above last nights figures. July is up 27ac;
corn shows a gain of 5a@5ac; oats, " %
sc, and provisions 21a @2234c.
Perhaps the feature that attracted most
attention from wheat traders was the
government crop report, which in its gen.
eral summing up of the appearance of
winter wheat, stated that the condition
OF. the plant was unprom1sing over much
the greater part of the wheat belt be-
cause of severe weather without snow
covering. The seriousness of the Argen-
tine railroad strike was emphasized anew,
a cable dispatch from Liverpool stating
ments from Argentina on account Of the
strike caused relative strength in Eng
lish markets in the face of the sharp de-
cline here yesterday
Under these influences the market
opened strong, with May up lie to INC at
9S%e to CSC. July was &c to &c higher
at 921sc to 9241kc. The May option soon
deeded a on
Before any support came into play the
price had dropped to 9714c, a loss of 1Ac
from the opening high point. With the
ferings became scare and the price grad
ually worked its way toward higher
level.
.
spite of the early decline in May, COM
mission houses being active buyers Of
both July and September. The market
later became extremely strong. One OF
the features in the late strength was
marked improvement in the export de-
mand reported from the seaboard Pros
poets of a cold wave in the Southwest
gave added zest to the buying. the volume
of business reaching a large total. The
close was almost at the top. After selling
up to 991ae, final figures on May were 99Ac.
July closed at the high point at 94Ac.
Clearances of wheat and flour We're equal gu
to n, 900 bu. Primary receipts were 626,-
600 bu, compared with 100000 bu year
ago. Minneapolis, Duluth and Chicago
reported receipts of Ala cars, against ESQ
cars last week and 210 cars a year ago.
Corn closes at the Top.
Weakness prevailed in corn during the
opening hour, due to heavy liquidation.
There was a large amount of long stuff
thrown. on the market, and with only
The main factor in bringing out the
selling orders was the weak Liverpool
cables. The strength in wheat, however,
caused an improved demand from pit
market became stronger Reports from
various points in Illinois of deterioration
on the grain and predictions of smaller
movement were influences that lent sup ?.
the top price of the day. May opened nc
lower to &c higher, at 541s @5fMc, sold
between $3.50 and 551s @55Ac, and closed
at the latter figure July closed at 54c,
after selling between 5214c and Sic Lo-
cal receipts were 1888 cars, 8 of contract
grade.
Oats were extremely weak during the
day on heavy profit taking credited to the
principal holder The active selling by
his interest was followed by realizing
sales by many Of the small traders and
for a time the market was quite demon
allied Later some of the big interests
began to reinstate their lines. This
caused a change in the sentiment. and
on an improved general demand all the
early loss was. soon recovered Offerings
were light on the upturn, resulting in a
strong market the latter part of the ses-
sion. The opening on May was sc lower
to Nc higher, at 45s @42Ac; After rang-
at 421b @42%c. July showed a net gain
of &c, closing at 39Ac. Local receipts
were 173 cars. =,
Provisions were subjected to heavy liq-
uidation at the outset, and In conse-
auence the early market was rather weak.
Much of the selling pressure was due to
the weakness in coarse grains and to
decline in hog prices at the yards. Pack
ers and foreigners became active buy
ers of hog products later in the day. I'm
der this improved demand prices Sradu-
ally advanced, the close being at about
the top figure. May pork sold between
S143715 and $14.85, closing at a Saln OF
221Ac, at s1472h May lard an . closed rs
Estimated receipts for tomorrow:
Wheat, 80 cars; corn, 1876 cars; oats, go
cars; hogs. $4,000 head.
Range of Quotations.
The leading futures ranged as follows:
/ Omen JipI Low | Close