The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-07-21
URINARY OF THE DAYS TRANSACTIONS IN Tf1E MARKETS
new WHEAT ARRIVES
MARKET BREAKS SHARPLY FOR THE
JULY OPTION
Less Threatening War News Also Has
An influence on Trading-Grains Open
Higher, but React Suddenly When
Shorts Cover

CHICAGO, July 20.-New wheat ar
r I!IV LITERALLY and alleged decreasing
eign. affairs caused heavy. liquidation OF
wheat today. Final quotations on the
September option were 5sc down. Corn is
OF on z %c; Oats show a loss of A@Ac
and provisions Z 1ac to zoe.
At the opening of trading today senti
nent in the wheat pit was decidedly bull
ISM Initial quotations on September
ss5kc The causes ss for : this Iii feeling Of
strength were heavy rains during the
night in Iowa, Nebraska, Kansas and In
In the face of the weakness here yester-
; day. possibility of trouble arising be-
tween Great Britain and Russia was the
main factor in the foreign market, and
was responsible for an additional decline
{ HI consols, which in turn had a buoyant
effect on the wheat market here. With
good profits in sight there was great
deal OF long wheat for sale, offerings of
July being especially liberal while shorts
We're active bidders at the start the de-
mand from that source was soon salts
he'd and weakness developed.
report that Russia had disavoWed the
act of its commander in searching mer-
chant vessels in the Red sea was con-
fresh complication in the war Situation
IhlS was responsible for considerable of
the selling pressure
Another bear factor was the prospects
OF free movement of new wheat, re-
ce1pts in the Southwest showing mark
ed increase. Prices continued to decline
until late in the day, when a reinstate
slight recovery. The low point on Septem-
Der was reached at S6a4c. Final figures
We're at S7@S71sc. July sold between 93@
96c and closed at SO &c.
Clearances of wheat and flour were
equal to 10000 blu. Primary receipts were
$4,000 bu, compared with 487, 400 blu
year ago. Minneapolis, Duluth and Chit
>eago reported receipts of 211 cars against
$50 cars last week and ia cars a year
ago.
In sympathy with the strength of wheat
firm feeling prevailed in the corn pit at
the opening; commission houses being fair
buyers. The pit crowd, however, was
,o j., on crop prospects, and sold free
lacked any definite support and became
quite weak toward the end of the first
hour The weakness became more pro-
close being almost at the low point Sep
TENDER opened k@Ac higher at 495sc
to 49Ac, sold off to 49c and closed at
493s @49 &c. Local receipts We're $50 cars,
Liquidation by local holders, due to the
slump In other grains, caused an easier
tone IN oats. There was no heavy sell
| ing, but support was lacking when most
| needed. Crop advices were not very good,
especially as to quality. After opening a
shade lower to a shade higher at 33c to
331sc, September sold down to 32%c, and
closed at 32Bc. Local receipts were 20
cars.
Uncertainty regarding the stockyard' S
strike, together with heavy receipts Of
hogs, and lower prices at the yards, caus-
ed weakness in provisions. There was
only small trade, packers doing most of
the selling At the close September pork
was down zoe at $12. 70. Lard was off
11ac at Sc. SIS. Ribs showed loss of 121s 0G
15c at 81 as.
II Estimated receipts for tomorrow:
Wheat, 16 cars; corn, 1873 cars; oats
116 cars; hogs, ,0G0 head.
H.. 4i~- Ranoe of Quot atjone
The leading futures ranged as follows: