The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-03-23
WHEAT is UNCHANGED
BEARIsH CONDITIONS oFFsE
BULLISH ADVIcES
Volume of Commission House Buying Is
Heavier Than Observation-Disclosures In
Kentucky Crop Is Most Important In
fiuence.

CHICAGO, March % - Weakness of
coarse grains offset today in the wheat
pit the effect of crop damage officially re.
ported from Kentucky Wheat e closed
Corn is off B@1c. Oats are down 1c.
Provisions closed Sc lower to SC higher.
Marked inclination to buy wheat was
manifested az the opening. July opened
Is @Ac lower to A@%c higher, at 500
seize. May was unchanged to &c lower,
at 915s @92c From the start the volume
of commission house buying was larger
than for some time past Shorts also also
important influence responsible for the
increased interest was the issuance of
the Kentucky crop report showing nearly
SO per cent deterioration in the condition
of the growing wheat plant as compared
with the condition year ago. PTeSuma-
bly, On the basis of this report rumor
was started that the next government re-
port would be sensationally bullish. The
fact that the Southwestern markets had
small receipts today while making big
shipments-St. Louis and Kansas City
getting only $4,000 bushels in the aggre-
gate and shipping 312, 600 bushels-also
market Cold weather was predicted, and
this. too. had a stimulating influence on
purchasers. A decrease OF 100000 BUSH
els in the worlds available stocks as
shown by BradstreetS, was another bull
factor. While prices in the wheat pit
were advancing coarse grains were ex-
perieneing heavy selling pressure, which
had resulted in considerable decline.
Late in the session the weakness in corn
and oats brought out a number of real
izing sales in wheat and caused loss OF
about a cent from the high point in July.
The top figure of the day was reached
at 97bc. The close was steady at 861s
@S6Ac. May sold between 91ssc and
92%c closing with gain of NC. at 92Ac.
Clearances OF wheat and -four were
equal to 15S,706 bu. Primary receipts
h1In wi
a year ago. Minneapolis, Duluth and
Chicago reported receipts of 326 cars,
against 443 cars last week and 1872 a
year ago.
Corn Is Off.
For the first half hour the corn market
ruled quite firm, influenced by the steady
tone of cables and by unfavorable wealth
err. There was little demand, however
and when some of the pit scalpers began
to sell, offerings found few purchasers,
which resulted in a gradual weaken
ing of values. The proposition to make
No. 8 corn deliverable On contract at a
discount to be voted tomorrow, was
probably the cause of the lack of demand.
The sentiment became decidedly weak
late in the session on general liquldat ton
The close was near the low point, May
being off 5s@Ae,. at 52@52Ac: July
opened shade to &c higher, at 5Oasc to
sos @5o1kc, sold between 4914c and 505sc.
and closed at 1890 Local receipts were
2S2 cars, with II of contract grade:
Oats showed more Inclination TO follow
corn than wheat There was frmness
early in sympathy with wheat, but when
weakness developed in the corn pit, there
was considerable. selling of oats, and
prices declined rapidly. Larger receipts,
with more of contract grade, were an i'm
portant factor. The close was at the
bottom, with May down q at 39Ac July
opened &c higher, at 3S7sc, sold between
81 &c and 397sc, and closed at 37&c. Lo-
cal receipts were 1913 cars.
cav,
under the influence of small hog receipts
and higher prices at the yards. There
was a good general trade, with an active
demand for lard and ribs. On the break
in corn there was free selling by pit
traders and packers. which resulted in a
loss of most of the early gain. The close
was steady, with May pork down &c, at
s13.05 May lard closed SC higher, at
$6.971k, while ribs were up 21sc at $3.50.
Range of Quotations.
The leading futures ranged as follows:
Open High. Low. Close.