The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-03-10
SUMMARY OF THE DAYS TRANSACTIONS IN THE MARKETS
WHEAT GAINS A LITTLE
HEAVY LIQUIDATION FOLLOWS A
STRONG OPENING
Downward Tendency Is Checked by Ex-
pectatiou of BuItish Government Re-
port-considerabIe Buying Orders Late
in the Day Save the Market.

CHICAGO, March 9.-Expectation of a
butilSh government crop report counter
balanced today. in the wheat pit the de-
mofalizing tendency of heavy liquidation
in coarse grains. May wheat made net
gain of ne. July is up &c, corn lost 2Ac,
oats lase and provisions 2fse to 10c..
notwithstanding the weakness in Chi
cago yesterday, caused wheat here to
open with considerable show of
ssfea fg ss May va w Ae to H. hgher at
8S1sc to 8Sssc. These were the top f1g-
ures of the day. Prices were sustained for
a time near that level by prediction Of
a cold wave extending as far south as
Nebraska
After the first instal1nent of buying
orders had been filled. however, the mar
ward. tenaency was accelerated by the
extreme weakness which developed in
coarse grains under heavy liquidation
Later the demand improved and there
market rallied under a fair commission
house demand. The advance was met by
heavy selling by earlier buyers, the re-
suit being another setback. A rumor that
the government crop report to be issued
tomorrow might show a large decrease
In farmers reserve brought out consider
covered freely. forcing up the price of
both May and July to about top figures.
The close was firm with May at 9212c.
July closed at S83sc.
equal to $500 blu. Primary receipts were
,200 blu, compared with 349,900 bu a
year ago. Minneapolis, Duluth and Chi
cago reported receipts of 423 cars, against
40a ears last week and 231 cars year
ago.
Weakness In Corn.
Under wholesale liquidation the corn
market ruled comparatively weak, a de,
cline of over Sc a bu being experienced
in both the May and July deliveries.
Aside from easier cables and prospects
OF a bearish government crop report to-
morrow there was little in the general
news to create such havoc in prices. APP
parently it was simply case Of leading
longs selling out, with smaller holders fol-
cept for shorts. Toward the end of the
session offerings became lighter and in
consequence some recovery was made, a
fl n tone prevailing at the close, In
higher at sac to 541sc, due mainly to the
f1rmness in wheat. Shortly after the OPEN
ing heavy liquidation set in. Prices start
to un sa the was eo1 reaee Tas noe
4S5sc and 515s @51Ac, and closed at 4s5ae,
with a net loss of Ac. Local receipts
The feature in trading in oats was
heavy. liquidation credited to the prin-
cipa1 long Smaller holders joined In the
ly &c in both the May and July options.
About the only support came from shorts,
who covered on the decline. The close
was barely steady and near the low point
OF the. day. May opened Nc higher at
42c. After selling down to 40@401ae the
close was at 4ossc. July ranged between
38Ac and $3.50, and closed with net
loss of &c at 3S1zc. Local receipts were
1876 cars.
The break in corn prices brought out
liberal profit-taking in provisions. AS a
result of the selling, which was mainly
by small holders, the market ruled easier
and slight losses were made throughout
the entire list. The early tone was firm
in sympathy with higher prices at the
yards, but, the market lacked any mark
ed support and prices gradually yielded
to- the weakness in grains. The close
was steady, with May pork 10c lower at
$13. 771s.. May lard closed 212c lower at
81 80. and ribs were also down 21ac at
$7.15.
Estimated receipts for tomorrow:
Wheat, 80 cars; corn, $50 cars; oats, 225
cars; hogs, 1000 head.
Range of Quotations.