The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-09-20
WHEAT PRICES SHRINK
WORLDS SHIPMENTS INCREASE
AND PROFITS ARE TAKEN
Firm Feeling Prevails at the OPENING
Notwithstanding Bearish Influences
Liberal Sales of Long Wheat De-
press Prices

CHICAGO, Sept. 19.-With worlds
shipments increased and larger pri-
mary receipts in the United States,
liberal profit taking in wheat TODAY
resulted in a net decline of ne Corn
Is on go 5sc. Oats were down he.
PROVISIONS show gain of 25c to 1Oc.
In spite of number Of bear infiu-
ences, firm feeling prevailed in the
wheat market at the opening, the De-
cember option being up a shade to kc,
at s$1.09a to $1.09h @1.095s. May was
up a nc to 3s@Ac at Silly to
$i1IZ. 9Fhe firmness was mainly due
70 good demand from traders, who
had sold short the early part of last
week. There was also fair buying by
commission houses on reports Of un-
favorable weather in the Canadian
Northwest. The gist Of the news at
hand, however, was largely in favor Of
the bear element. Gables were lower.
worlds shipments were much heavier
than for the corresponding day last
week or year ago. Receipts in the
Northwest continued to show a mark
ed Increase, and this fact perhaps fur
n1shed the principal motive for the
heavy selling that developed. Liberal
sales Of long wheat started prices on
the down grade, and the execution of
Minneapolis orders accelerated the de-
cline On the break December sold
I'll ~ %A.Vo Y ctllo 4x1dy " Yl.1O%S. To-
ward the middle of the session the
market again became strong, cold, wet
weather in Manitoba bringing out a
good demand for some of the big com
mission houses. On the rally Decem-
Der advanced to $1.101z and May to
$1.l2ss @l.l21a. Renewed profit taxi
ing. however, resulted in another re-
action. A fair~increase in the visible
supply and larger primary receipts at
points elsewhere than the Northwest
were influences that had weakening.
effect on the late market. With ex-
IRENE weakness manifested at Mime
apolis the market here became de-
cidedly heavy, December selling off to-
SLOT In the meantime May de-
clined to $1.091s. December closed
with loss Of lie at SLOTS @1.0S.
May also was off 11sc, closing at
$1.09B @1.1O.
Clearances of wheat and flour were
equal to $500 bushels. The amount
on passage decreased 1,696,000 bushels,
while the visible supply increased
$4,000 bushels. Primary receipts were
1855 900 bushels, compared with l.
318,600 bushels a year ago. Minneap-
oils, Duluth and Chicago reported re-
ceipts Of LAT cars, against 67S cars
last week and 997 a year ago.
Corn BuIses and Bursts
A sharp bulge in corn prices oc-
Cured as a result Of report of a
Minneapolis crop expert claiming the
total yield would fall short of the gov
eminent estimate by 300,000,000 bush
els According to this authority the
crop will be the smallest harvested in
seven years.. The situation vase fur
ther strengthened by report Of
local statistician estimating the total
crop at less than 2,000,000,00 bushels.
The advance failed to hold, however,
many traders being inclined to place
entire confidence in the government
figures. The market became decidedly
weak late in the session, the close be-
ing practically at the low point. De-
cenber opened 1sc lower to hc high
er, at 501sc to 503sc, ranged between
99ac and 81 ne, and closed at~49 CO
1870. Local receipts were SGT cars,
with 46 of contract grade
Steadily increasing supplies were
depressing influence in the oats mar
ket. Prices were also inclined to fol.
low other grains in their downward
course. A feature of the trading was
active buying Of May around 35c. The
market closed at the low point. After
unchanged to shade higher at $3.50
to 325s @32%c, December sold between
321sc and 32Bc, closing at 321sc. Local
receipts were 202 cars.
Inc TACT tnaI1 nog receipts nave not
increased to any great extent since the
settlement of the stock yards strike
had strengthening influence in the
provision market. There was a good
demand from packers, but offerings
were quiet. AT the close January pork
was up TIC at $12.75. Lard was up
loo at $7121a @7.15. Ribs gained 211s q
sc, closing at $685..
Estimated receipts for tomorrow:
&C.. TO-
81 cars; hogs. 1900 head.
Range of Quotations
The leading futures ranged as follows: