The Saint Paul globe., 1904-07-02
WHEAT IS UNCHANGED
OPINIONS ON CROP. DAMAGE CON.
FLtcT AND CHECK TRADERS
Firm Cables and Buiiish Southwestern
News Starts the Market With a Steady
Tone-Depression Is Followed by a
Rally

CHICAGO, July 1.=Antagonistic opinz.
ions as to the damage inflicted by rain in
the Southwest held wheat traders in check
.oday. Closing prices Were practically
identical with yesterdays final figures
Corn IS up &c. Oats show loss of &c
PROVISIONS are 10@2219c higher.
AZ the start a steady tone prevailed in
wheat as a result of firm cables and bull
lsh news from the Southwest September
was unchanged to shade higher at S1A@
Sl5sc to Sl9sc Ror a time the buying of
ing the principal purchasers. A total abb
Sence or deliveries on July contracts was
the main incentive to buying The demand
Ior distant futures was much better than
Ine supply, resulting in quite "a firm un-
dertone.- After September had touched
81 1Sc, weakening Of the market carried
the price down to 80k oslo. There was
quite liberal selling by traders who wished
10 even up trades over the holidays. Con-
siueFapie wheat also came out on reports
OF a prospective large movement in the
SoutnWest, IS cars being estimated for
Tuesday at ST. Louis and $50 cars at Kan
sas CITY. Later a revision of the figures
making the movement much lighter caused
a rally Adyices from the Southwest re-
garaing the condition of the crop were
conflicting, but, to a large extent, the
impression prevailed in the later trading
that the Kansas crop will be materially
reduced, and If rains continue the quality
iate In the day, and moderately firm
tone prevailed at the close Final figures
on September were at S1A@S1Ac, a net
loss OF 1sc for the day.
ClearanceS of wheat and -four were
equal to 23S, 400 bu. Exports for the week,
according to Bradstreet'S were 112S 900
bu. PRIMARY receipts were 262, 200 bu.
compared with a holiday a year ago
Minneapolis Duluth and Chicago reported
receipts OF 236 cars, against 153 cars last
week.
Corn Comes Up
The corn market was strong early. but
n f6A n lr..@
general liquidation of July. A noticeable
feature was the strength of the new crop
futures. both December and May being
taken freely by some of the leading in
terests. Cool weather was the principal
bull FACTOR. The general feeling in the,
pit was bullish, and but for the liquida-
ton OF July the market would have been
a strong one throughout the entire ses-
sion. Deliveries on July contracts were
liberal, but We're taken by strong in
terests and the. effect on the market was
slight. September opened a shade to NC
higher at 4Sk@4S9se to 4SAc. sold be-
tween 1895 @481sc and 4S%c and closed at
4Sssc. Local receipts were 266 cars. with
"A of contract grade.
The feature Of trading in oats was the
LIQUIDATION of July and a decline of 1@2c
in the price of the cash article. Local
holders of July sold freely, causing weak
ness. There was enough buying of Sep
tember to hold that delivery steady, al
though the break in July had some ef-
feet September opened &c higher at
321sc. ranged between 31a4c and 321s@
a2Ac and closed at 3S7sc. Local receipts
were 155 cars
The provision market was strong under
the influence of an active demand from
shorts and packers. A strong hog mar
ket was mainly responsible for the i'm
proved demand. At the close September
pork was Up 20@221sc at s13. .221k @13. .25.
September lard was up 1215 @15c at
81 271s Ribs were 10@12kc higher at
81 .721z al. rs.
Estimated receipts for tomorrow are:
Wheat IL cars: corn, Is cars; oats, III
cars; hogs, 10000 head.
Range of Quotations
The leading futures ranged as follows