The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-04-05
MARY OF THE DAYS TRANSACTIONS IN THE MARKETS
ALL GRAINS ARE LOWER
BEARISH SENTIMENT DUE TO
FAVORABLE WEATHER
Prospects of Rain Lead to General Sell
ing of Wheat-VoIume of Trading Is
Restricted Because of Holidays.

CHICAGO, April prospects of
rain caused general selling of wheat
today. All cereals closed weak, July
wheat being down Ias@1hc. Corn is
off 1Q1 1sc. Oats show loss of 15sc,
and provisions 71z@22Ac.
Predictions of favorable weather
caused a bearish sentiment in the
wheat pit at the opening. The July
delivery was % a Ac to Il q &c lower,
at Sta @875sc. For q time the market
held around the opening figures, but
lack or any strong support soon began
to be felt, and prices started down
ward. The fact that foreign grain
markets were closed today tended to
restrict the volume Of trading, as did
the approaching holiday here tomor-
row. The absence of the usual activity
in the pit, in itself, was a depressing
influence. Weakness in all cash grains
after the recent strength took any re-
naming enthusiasm out of the bulls
and caused considerable liquidation
of long wheat. The declines in
Northwestern markets were another
encouraged sellers. Pit traders ham
mered the market persistently through
out the day, Notwithstanding the mod
erately bulliSh crop reports from Mis-
souri, and Ohio. Final quotations on
July were at S62sc, after the price had
touched S6Ac. May ranged between
941ac and $3.50. closing at 94%c.
Clearances of wheat and -four We're
equal to 147,400 blu. The amount on
passage increased 1.648,000 blu. and
the visible supply decreased $4,000 bu.
Primary receipts were $4,000 blu,
against 679,400 blu a year ago. Mime
apolis, Duluth and Chicago reported
receipts Of 413 cars, compared with
549 cars last week and 439 cars a year
ago.
Severe Break in Corn.
The early corn market was steady
on a moderate commission house de-
mand, but toward the noon hour a
selling movement set in that caused
severe break. Local longs began to
sell under the impression that the prin-
cipal holder was disposing of his line
On the decline a lot of corn came out
through commission houses on stop loss
orders, resulting in an extremely weak
market. The weakness in wheat and
oats was partly responsible for the
heavy selling pressure in corn. A de-
cline of nearly 8 cents in the cash arti-
Gle was an important feature in the
situation. Although the market re-
ceived fair support late in the day from
influential sources the close was almost
at the low point. July opened I'M
changed to Is @Hc lower, at $500
$3.50 to 53Ac. After selling between
52%c and 53Bc, the close was at 52%
@52Bc. May ranged between 551a C
and 571sc, and closed at SEC. Local
receipts were 17S cars, with 81 of con-
tract grade.
The oats market was subjected to a
raid early lin the session, heavy selling
of the May option by pit traders and
commission houses causing much
weakness. Before the decline was
checked May sold off nearly 2 cents,
and July reacted over cent in SYM
pathy. The desire of holders to get
out of the market over the holiday was
the principal cause of the selling. The
close was weak and at the bottom.
After opening y @Ac lower, at 393s q
$3.50, July sold between sec and 3912c,
and closed at 38c. May ranged between
$3.50 and AK @41Bc, closing at $3.50.
Local receipts were 153 cars.
Provisions were weak under the in
ffuence of liberal selling by packers. A
marked increase in contract stocks Of
pork and lard was the principal cause
of the selling pressure, although the
weakness in grains had some effect.
Covering by shorts checked the declin-
ing tendency. The market closed easy,
with July pork down 20@22bc, at
$13.30@13.321a. July lard was off ~ q
loo, at $40. Ribs were 10c lower at
81.
Range of Quotations.
The leading futures ranged as follows: