The Saint Paul globe., 1904-05-22
JULY WHEAT is HIGHER
HEAVY SALES OF CASH WHEAT IN
THE NORTHWEST
These impart Strength to the Market,
While the Uncertainty of the May De-
livery Situation Holds the Gears in
Check.

cash wheat in the Northwest caused
strength in speculative options here to-
day Day, July wheat closed with gain of
191sc. Corn is off a shade. Oats are
down &c and provisions a shade to TIC.
Excellent growing weather and large
Australian shipments had a depressing in
huenee on the wheat market at the open
ing, but the uncertainty of the situation
IN the May delivery held the bears in
check and prevented any considerable
selling. Initial sales on July showed loss
OF shade to s@Ac at 865sc to 86% c.
May was unchanged at 99c. In the alb
Sence or any great demand for the May
option the price of that delivery eased off
advanced number of bullish factors
came into prominence A foreign statis-
tlclan In estimate of the worlds ship
mentS for the week showed a large fall
ing off, while at the same time Claiming
a heavy decrease in the visible supply.
Later there was considerable purchasing
on belief that the local stocks of con-
tract wheat would show quite a decrease
on Monday The predominating influence.
however, was the reported sale of 1000, 900
oushels OF cash wheat at Minneapolis to
country count mlllefs. Ihere was an active de-
mand here from Northwestern houses.
The market closed almost. at the top
prices, final figures on July being at S77sc
after the price had touched 88c. May
closed at 89Ac, net gain of "a C.
Clearances of wheat and flour were
equal to 191, 800 bushels Primary re-
celptS were 145 800 bushels, compared with
55l ;O00 bushels a year ago. Minneapolis,
Duluth and Chicago reported receipts Of
" cars, against 81 cars last week and 1873
cars a year ago.
Corn Is Off.
During the early part of the session
bearish sentiment was manifested in corn
due TO ideal weather conditions Offerings
however, were not large and prices sus-
tanned only slight losses. Later in the day
the market became firmer in sympathy
with the strength Of wheat A decreased
movement in the West. indicating a par
tiaI exhaustion Of stocks, was a late bull
FACTOR. July opened B@Ac to 3sc lower
at 4Sc to 1875 04SA c; sold up to 4S15 and
1880 and closed at 48A 048$sc. Local re-
celpts were III cars, with Z of contract
The feature of trading in oats was fur
ntshed by the May delivery. Under the
leadership of q big holder there was some
heaVy selling in that option resulting In
considerable weakness early in the day
yearly, yearly an the loss vas later regained on
covering by shorts. Deferred futures were
adversely affected by favorable weather
conditions. After opening Ac to kmAc
lower at 38A @383sc to 383s, July ranged
between 3S7s @3S3sc and 3S15c. closing at
50Ac. Local receipts We're 132 cars.
PROVISIONS Were easier on outside liqui-
datlon and on selling by packers. Large
receipts of hogs and lower prices at the
yards We're the principal selling motives
July pork closed with loss Of TIC at
$40 .95. Lard was down 25h @5c at Sc. .27b
W6: 80. Ribs were off a shade, closing at
Sc .35@6 .3715.
Estimated receipts for Monday: Wheat
cars; corn, 1l9 cars; oats, 110 cars; hogs;
Al, 900 head.
Range of Quotations.
The leading futures ranged as follows:
Omen HIGH Low / CI0co