The Saint Paul globe., 1904-04-21

CHICAGO, April 20.-GeneraI desire to
close up all deals in May wheat caused a
decline Of 21sc today in the price of that
option. July in sympathy sold off 1%c
closing prices We're almost at the lowest
or the day. Corn closed at a loss Of bc
Oats are off Ac. Provisions finished at
about yesterdays final figures.
Moisture in tie shape of rain or snow
from the Rocky mountains to the Ohio
river satisfied long felt want in con-
siderable portion of the territory affect
ed and cast a shade of weakness over
opening trading in wheat. Damage re-
ports from Ohio came in early in the day,
however, and held the market temporarily
IN check The opening was 1sc lower to
zsc higher at 855sc to S5Ac. Influenced
eTs covered short sales. The demand
forced July up to S6c Sentiment never
theless soon became decidedly bearish on
the improved crop prospects in the North
west, especially Kansas where heavy
rains have fallen in a hitherto drought
stricken district. General LIQUIDATION Of
May wheat set IN and the market sud
denly became weak.
From 91hc, May declined to S9c carry
ing along IN the downward course the
more distant deliveries. There was some
offSet the selling caused by the slump
in May: The prevailing opinion seemed
TO be that the liquidation of May prac-
d1cally ended operations in that option.
Inc market continued weak the remain
der of the session. the cause chiefly be-
lng the lack of any influential support.
After touching S45sc July closed at 84B
@S5c, net loss of q @7sc. May closed at
S9 1sc. CIeafanceS of wheat and flour were
equal to 4O1, 400 bu. Primary receipts were
196,5O0 bu, compared with 301 800 bu a
year ago. Minneapolis, Duluth and Chi
cago reported receipts of 1876 cars, against
a cars last week and 119 cars year
ago.
Heavy Liquidation In Corn.
The feature in trading in corn was
heavy liquidation OF the May delivery by
the leading holder. The situation was al
the exception being that prices failed to
show as sharp a decline. The action of
the big long induced general realizing by
smaller traders, resulting in May selling
under the July price. Covering by shorts
caused some recovery from the low point,
put the close was weak. July opened 1s a
Ae lower to shade higher at 491sc to
49$sc. sold between 4S5s @484c and 492sc
and closed at 4S% 04S%c. May ranged be-
tween 4S3sc and 497sc and closed at 4834c
a net loss of 1c for the day. Local re-
grade.
Oats were firm early in the day under
the influence of an improved business and
extremely light receipts. On the break
in wheat and corn the market was sub
jected to considerable realizing sales. The
support was not forthcoming and in
consequence the market weakened. The
close was near the bottom. July opened
k@Ac to "A higher at 37$s @3715c to
S712c, sold between 36$c c and 3714 @375sc C
and closed at SIC. May closed at 3714c
Local receipts were 46 cars.
Higher prices for hogs brought out a
good scattered demand for provisions
during the early part of the session. Of
ferings were light and in consequence the
market ruled firm. Later in the day, how
ever, the extreme weakness in wheat and
corn caused liberal selling by pit trad
ers resulting in an easier tone. The close
was about steady with July pork down
5Q712c at 81. .1712, July lard closed un-
changed at 6.6713 Ribs were up shade
at $6.4715.
Range of Quotations.
The leading futures ranged as follows:
N I