The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-05-03
SUMMARY OF THE DAYS TRANSACTIONS IN THE MARKETS
ALL GRAMS ARE OFF
GOOD CROP WEATHER FINALLY
BEARS NATURAL FRUIT
Wheat Market Opens Steady, But Bear.
ism Sentiment Soon Develops and Heavy
Realizing Sales Bring the Price Down.

CHICAGO, May 2.-UnsurpaSsed wealth.
er conditions caused heavy. realizing sales
{ OF wheat today The result was a net loss
OF 11sc in the July price. Corn is down
&c Oats are off &c. Provisions are up
272e to Sc
In response to fair demand from
shorts the wheat market opened about
steady with July unchanged to Hc lower
al S5Ac to 85hc. Soon however. re-
ports of excellent weather throughout the
greater part of the country created q
pear1sh sentiment In consequence after
a Slight advance during the first few
minutes when July sold up to S5%c, prices
started on downward career Indifferent
cables, large worlds shipments. an in
crease of 1928. 600 bushels in the amount
On on passage ss aA-wer additional bear fac
tors. There was general commission
mouse selling. Many stop-loss orders
came out on the way down. One of the
most influential traders In the pit was a
conspicuous seller. News from the North
west was extremely bearish One report
stated that all mills at Minneapolis would
close down Wednesday on account Of q
lacK OF demand for flour Although the
wheat market here received fair support
at times, liquidation was so liberal that
prices continued to decline throughout
the session. The close was weak with
july at S4Ssc, after selling at S4hc
Clearances of wheat and flour were
equal TO $4,000 bushels. The visible sup
ply decreased 839, 900 bushels Primary re-
ceIpts Were 344, 500 bushels against 629,-
SuV DuShelS a year ago. Minneapolis, Du-
Iuth and Chicago reported receipts of 1872
cars, against 154 cars last week and S75
cars year ago.
Corn Firm at First.
Decreased receipts with small per-
centage OF contract grain held the corn
market nrm early In the day in spite of
weakness in wheat. There was a good de-
mand from pit traders and commission
houses, and with light offerings, prices
showed moderate advance. Cables, how
ever, We're lower and deliveries on May
contracts quite heavy. These influences in
connection with the slump in wheat final
ly started selling movement which re-
suited in decline Of about a cent from
the high point. The weather also was
against higher prices being favorable for
planting. The close was weak and near
the bottom. July opened a shade to 40
&c lower at 481sc to 1880, sold between
47Ac and 1875 @4S%c, closing at 47% Case.
Local receipts We're 145 cars, with Is of
contract grade.
Weakness in wheat deliveries of about
1,0O0O00 bushels on May contracts and
favorable weather were influences that
brought out liberal liquidation of oats
At times the market received fair sup
port from shorts but the demand was not
sufficient to check the declining tendency
The market closed weak with prices near
the low point. July opened unchanged to
&c lower at 39Ac to 1880, ranged be-
N"ON1 20 anu % 72C anu CtOScQ DIT
Local receipts were 81 cars
In the face of weakness in grains and
lower prices for hogs, provisions closed
firm at a slight advance in all products
fair demand from pit traders for ribs
was the cause of the late f1rmness, the
market ruling easy the greater part of
the day in sympathy with grains. July
pork closed sc higher at $12.021a. Lard
was also up sc, at Sc. 721s. Ribs showed a
gain of 212@5c, at S. As.
Ranue of Quotations.
The leading futures ranged as follows:
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