The Saint Paul globe., 1904-06-26
OF THE DAYS TRANSACTIONS IN THE MARKETS
WHEAT is UP A CENT
DEMAND FOR NEWLY HARVESTED
GRAIN IS ACTIVE
Everything FaVors the Bulls at the Start
OFF and They Have Little to Complain
OF Taking the Day as a Whoie-corn
: Loses Again

CHICAGO, June 25.-Talk OF an ac-
tive demand in the Southwest for new
a net advance Of 1c today in the price Of
September wheat. Corn Is off hWAc.
Oats are unchanged Provisions are down
21Rc to 12hc.
AS the result of a variety of bullish in
huences stTeng tone prevailed in wheat
at the opening. The most prominent fac
tors were higher cables. decreased ship
ments from Australia and additional rain
in sections Of the Southwest, where har-
vesting is In progress. Initial quotations
on September were up Nc to %c at So9sc
10 olc. Trading was light during the
early part of the session. more from
scarcity of offerings than from amy lack
OF demand. Shorts and commission
houses were the principal bidders. The
selling was largely by ScalperS. AS the
session advanced a considerable amount
or beariSh news was received, but 1t had
little apparent effect. the market retain
lng Its opening 1irmneSS. On the other
hand traders took particular note of all
buIllSh items. Continental advices told
Of great damage to wheat in Caucasia. An
the week placed the amount at about
S,O00, 900 bu. low figure compared with
recent shipments. Apparently the most
influential factor of late trading was
report of a Minneapolis crop expert In
referring to harvesting operations in the
Southwest this authority stated that the
country milling demand was SO urgent
that there was little likelihood Of any
lew wheat reaching Chicago during July.
The effect of this report was to give add
ed impetus to buying. During the last
hour September advanced to 81% c on the
purchase Of several million bu by North
western houses. There was some reaction
from the top, but the market closed
strong, with September at S1asc. July
ranged between S51ac and $3.50, and clos
ed with gain Of &c at 85Mc.
Ciearances of wheat and flour were
equal to 1880 bu. Primary receipts $685.,
6e0 bu, compared with 3e4, 800 bu year
ago. Minneapolis, Duluth and Chicago re-
ported receipts of 376 cars. against sol
cars last week and 240 cars a year ago.
Corn Is Weak
Heavy selling of the July option by ele-
yator interests caused weakness in corn.
owing to ideal weather conditions and
to break in cash values, sentiment in
speculative trading was inclined to bear
ishness The market opened firm on high
eT cables and smaller receipts than esti-
mated. On the advance offerings were
liberal. and with comparatively little de-
n1anG prices soon started downward The
close was almost at the lowest point of
4IBc, after selling between 47Ac and
46Ac. September opened 1sc to 1sc@Ac
higher at 1880 to 4S3s 4SAc, sold be
tween 481 1sc and 4SAc' and closed at 4sA
@4S$sc. Local receipts were 344 cars, with
q of contract grade.
The f1uctuat tons in wheat and corn had
little effect on the oat market prices hold
ing steady with a very small range Ow-
ing to a scarcity Of offerings trade was
light. After selling between $3.50 and
355sc. July closed with loss of q @Zc
at S6Sc. september opened unchanged to
B@ Ac higher at 31%c to 31H @32c. sold
within the opening range and closed at
the low point. Local receipts were $50
cars.
Provisions were firm early on smaller
receipts OF hogs and higher prices at the
yards. Packers were fair purchasers ear
Iy in the day. Later in the session the
market eased off on proft-taking. Pros
poets of more liberal receipts Of hogs on
Monday were late bear influence. At
the close September pork was down 121sc
at $13 = 12c. September lard was off 21A %
SC at 81 % @7. .25. Ribs were down sc at
$7.771s Estimated receipts for Monday
Wheat, cars; corn, 456 cars; oats, 90
cars; hogs, 33, 900 head.
Range of Quotations
The leading futures ranged as follows: