The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-04-16
WEAKNESS IN WHEAT
INCREASE I'm ACREAGE OF SPRING
WHEAT is PREDICTED
Market Opens Strong on Small Receipts
and Cold Weather Forecast, but sentl-
ment Veers Suddenly and Decline
Strikes All the Pits

CHICAGO, April 15.-Unoficial figures
forecasting an increase, instead of a de-
crease, in the acreage of spring wheat
caused weakness in the wheat market to-
day. At the close the July option show
ed loss of 3sR q C from yesterdays final
quotations Corn is down &c. Oats are
off Ac and provisions Sc to 121kc.
Small receipts and predictions of freez-
ing weather in Kansas had a strengthen
ing influence on wheat prices at the open
ing, July being up a shade to B0Ac, at
6t4c TO S47sc. Crop damage reports
We're again in evidence In addition the
information that came from the North
west in regard to seeding was still bull
!Sh- The pit crowd was in humor to
listen to that kind of news, and matters
or an opposite character were given scant
attention until after many of the bulls
mad bought what wheat they could carry
Ihat was done easily for there were
lew orders from OUTSIDE traders. In the
meantime the market had developed
ADDED hrmness, the July delivery having
sold UP to SSAc.
Toward the middle of the session SEN
tIment suddenly Veered and the market
weakened rapidly. The cause of the pro
nounced change in attitude was a report
by Minneapolis trade journal to the eff
Iect mat spring wheat in the DakOtas and
minnesota would probably show a small
increase Notwithstanding eXpecta lions of
decrease. Lower prices in all outside
Several Of the larger commission houses
mad long wheat for sale, and there was
also some selling for short account. The
market lacked any influential SIJDDOrt
and continued weak until the close After
selling off to $3.50, July closed at SIC
C1earances Of wheat and flour We're
equal to al, 500 bushels. Primary re
celpts were 212,300 bushels compared with
zo6,90O bushels year ago. Exports of
wheat and flour for the week, accord
ing to BradStreets, were equal to / PA 900
GAs1T l~lIC V04r1rr
cag0 reported receipts of 153 cars.
against 302 cars last week and 1874 cars
4. year ago.
May Corn Is Sold Heavily.
The most important feature in trading
in corn was the selling Of May by the
principal holder and a consequent de-
cline OF nearly cents in the prise of that
delivery. The pit crowd followed the lead
OF the big bull and for a time the sell
ing was quite general There was not
much July on the market until late in
the day, but the weakness in the nearby
delivery finally brought out quite free
selling, resulting in a decline of over a
cent. The cash market was firm. but
cables We're easier. The close was weak
ana near the low point July opened I'M
changed to sc lower. at 507sc to Sic.
sold between 40 q q soc and 51Ac. and
closed at 5Oc. May ranged between SIS n
$3.50, closing at 521sc. Local receipts
We're So cars, with Al of contract grade
Oats showed considerable strength in
the face of the weakness in wheat and
corn. There was a good demand from
commission houses and elevator interests.
but offerings We're light. Crop advices
were almost a unit on the question of
late seeding. Additional bull factors
were small receipts and an Improvement
in cash demand. The market reacted
somewhat on the late break in wheat.
but the close was steady, July opened
a shade to B@Ac higher at 37Tsc to
SSc, sold between 377sc and 3S1Sc and
closed at 3S1sc. Local receipts were 81
cars.
Pit traders sold provisions in a small
way on the weakness in corn, which re-
suited in small declines throughout the
list. There was not enough demand to
cause recovery and the market closed
easy with July pork down 121bc. at
$12-S7A. July lard was off sc. at S6 IS
Ribs closed off 5Q71ac, at Sc. 5066 5215.
Range of Quotations.
The leading futures ranged as follows: