The Saint Paul globe., 1904-06-12
SUMMARY OF THE DAYS TRANSACTIONS IN THE MARKETS
WHEAT GOES DOWNWARD
aEARIsH CROP REPORTS GIVE
RISE TO LIQUIDATIoN
This is Partially NeutraIIzed by Abnor-
naIly Wet Weather In Manitoba
Northern Pacifc's Crop Report Has I'm
portant Influence

CHICAGO. June 11.-AbnormalIy wet
weather in Manitoba helped to a con-
siderable extent in offsetting the. effect
Of LIQUIDATION In wheat today. due to
bearish crop reports July wheat. how
ever. closed at loss of "a @%c. Corn is
or nc. Oats are down Se. Provisions
show gain of &c to 15c.
An excellent weather map and the
bearish government crop report were the
main factors i'll the wheat pit at the
opening, although an easier one in for
eign markets had some effect here. In
1t1al quotations on July were off 1Ac to
"A Qasc. at S5%c to 85b @86c. Sentiment
In the pit was quite bearish, the majority
of traders being disposed to take the
selling sides of the market. Bidding was
very light. trade being chiefly In the way
OF evening up over Sunday. During the
of prices was steadily downward. Bear
lsh crop reports were received which add
ed to the weakness. A prominent factor
IN the situation was crop report of the
Northern Pacific railroad company which
stated that spring wheat is fully as ad-
Vanced now as at the corresponding time
last year. The fact that harvesting is
We'll under way also seemed to attract
traders to the bear side. During the last
hour the market showed some resistance
to the deciding tendency. Demand for
ume to cause considerable advance in
that delivery. AdvigeS from Winnipeg
to the effect that weather in Manitoba
during the. past week has been abnor-
trading. In sympathy with the firmness
of September the July option made
partial recovery After selling of to
85Bc, July closed at S5%c.
Clearances of wheat and flour were
equal to $500 bu Primary receipts
were 23S, 800 buz compared with sos. 800 bu
g year ago. Minneapolis, Duluth and
chicago reported receipts of 20 cars
against 149 cars last week and 300 cars
year ago.
Weak Undertone In Corn
A number of bearish influences. the
most potent of which were the weakness
or wheat and large increase in the
movement. tended to create a weak un-
dertone in corn. Primary receipts today
were almost double those of q year ago
Ihe weather also was against the mar
ket;. me volume OF business was light
trading being confined mainly to scalpers
July opened 1sc to Nc lower, at 4S5sc C
TO 4SAc, sold down to 48Ac and closed
at 4SSsc. Local receipts were SOS cars,
with 28 of contract grade
= The oats market was slow, but under
the influence of the government report
which claimed a considerable decrease
from last year in total acreage, the price
tfemelY dull and weak, giving the ap-
pearance of very little remaining open
interests good cash demand and
After. opening unchanged, at $3.50, July
ran between 39A @39asc and s95ac and
closed at S9kc. Local receipts were 122
On active covering by commission
houses and packers provisions were
strong the entire session. The belief still
prevailed that Eastern capitalists hold
a long line of ribs Strengthssaof hog
prices was a help. At the close Septem-
Der pork was UP 123k @15e. at $12.77k q
1885, Lard was Sc higher, at $6.
Ribs were up 751c. at $7.37A. Estimated
receipts for Monday: Wheat, 81 cars;
corn. 522 cars; oats, 152 cars; hogs, A 900
head.
Range OF Quotations
The leading futures ranged as follows:
- Omen. | High | Ilnw-I m Clnse