The Saint Paul globe., 1904-06-17
WHEAT TURNS WEAK
LARGE INCREASE IN ACREAGE 1
REPORTED I'M CANADA
Various Conditions Combine to Set an
Easier Tone at the openIna-ForeIgn
Crop News BuIIIsh-corn and Oats Ad-
vance

CHICAGO, June 16.-Canadian reports
or a large increase In acreage We're infiu-
entail today in weakening wheat. Final
figures on July were "a C below last night S
close. Corn Is up shade. Oats gained
Bc and provisions 10c to 2215c.
Lower cables, liberal receipts in the
Northwest and generally favorable wealth
er caused an easier tone in wheat at the
start, initial quotations on July being down
1sc to 3sc at S4ssc to 847sc. In addition to
the usual market influences the failure of
prominent commission house last night
was a factor of considerable Importance
during the first hour today Shortly after
the opening good deal of long wheat for
September delivery was sold for account Of
the defunct firm. AS result the mar
ket for the September option was quite
weak. As soon as the pressure on Sep
tempef was removed sentiment in the pit
Decame much hTmer. Foreign crop news
was bullish. The drought in Roumania
was still unrelieYed, and a report of the
RUSSIAN secretary of agriculture claimed
that cold weather and drought had caused
serious damage to crops, especially winter
wheat. The news from Russia, however,
was practically the only bullish news re-
celyed during thA day. The predominance
caused a reversal of sentiment resulting
IN gradual decline. Selling DEVELOPED
on a reported increase of ABOUT 10 per
cent In the Canadian acreage. Excellent
weather conditions in the Northwest also
brought out selling orders. From S5Ac
July steadily receded to sac. The close
was dt OF L. september closed at I9Ac,
So5sc.
Ciearances of wheat and flour were
equal to l37, 800 bushels. Primary receipts
We're 314, 100 bushels, compared with $685.
900 bushels a year ago. Minneapolis, Du-
luth and Chicago reported receipts of 256
cars, against las cars last week and 264
cars year ago.
Corn Holds Firm
Small receipts today and estimated light
arrivals tomorrow were influences that
held corn prices firm notwithstanding fhe
clnnau trade journal on the condition of
the crop also helped to sustain the mar
ket. The volume of trading was small,
there being little disposition to trade eifhpI
way The market closed at about yester-
DAY final figures. July opened unchanged
10 Ae lower at 48Ac to 49c, sold between
4SAc and 49Ac and closed at 4834 6D487kc.
Local receipts We're 260 cars, with 40 OF
contract grade.
Sr1allness Of receipts in comparison with
yesterdays estimate had a Strengthening
lnhuence on the oats market. Trading
WAS exceedingly dull and of small volume
me prlnclpaI demand was for September
July opened unchanged to 1sc lower at
397sc to 3912c, ranged between 39sSc and
399sc, closing at 391sc, Local. receipts
were 50 cars
an urgent demand from shorts Small re
celpts of hogs was one of the main factors
IN the situation. Realizing by packers
was feature of trading. The market
closed Wen toward the top, with Septem-
Der pork up 22hc, at $12.S71s September
lard was up 1pc, at 81. Ribs were 100
I212e higher at 7.45@17. 475a Estimateo
receipts for tomorrow: Wheat, % cars
head ''O0'
Range of Quotations
The leading futures ranged as follows:
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