The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-06-15
ALL GRAINS DIP AGAIN
SENTIMENT IN WHEAT is eEARIsH
FROM THE START
Liberal Offerings Are Brought Out by
the Prevalence Of Good Crop Weather
About the Only Demand Is From Shorts

CHICAGO, June I4.-Bright sunshine
Tor the harvest fields brought out liberal
OFFERINGS Of wheat today, Demand, how
ever, was light, and the July option closed
at a loss of nc. Corn Is down &c. Oats
are off -1s@Ac, and provisions 15@35c.
sentiment In the wheat pit was bear
Ish from the start. initial prices for July
being down A@%c to 1kc, at S6@S6x to
S64c. A number of influences combined
70 create a feeling of depression, the most
important being the perfect harvest
foreign markets in the face of a sharp
upturn here yesterday was another bear
lsh element. The fact also that the first
carload of new wheat had arrived at
st. Louis and had graded No. red
Drought out selling orders. Many traders
went short in expectation that the week
ly weather report would show an inn
proVement In condition of the crop. The
market continued heavy throughout the
day. about the only demand coming from
shorts. A comparatively small decrease
in the worlds visible supply was a late
bear factor and intensified the desire to
sell. Prices were further weakened by
private advices from Paris estimating
1215 per cent increase in the French crop
over last year. After selling down to
84& @84%c, July closed. at S4A @S4%c.
Clearances of wheat and flour We're
equal to $4,000 blu. According to Brad
streets the worlds available stocks de
creased 100000 bu. Primary receipts
were 335, 800 bu. compared with 246, 500 blu
year ago. Minneapolis, Duluth and Chi
CdBO reported T0C0lplS OF Z4O cars, aBdlIlSL
like number last week and 2S2 cars
year ago.
Corn Just as BearIsh
Favorable weather had a bearish effect
on corn as well as wheat, but another
factor of possible equal Importance was
the large Increase in private and public
stocks To make the latter factor more
effective there was a lack of adequate
shipping demand thus practically insur-
ing still further accumulation of stocks.
Weakness of wheat also aided in forcing
down corn prices. The market had a
downward tendency throughout the en-
tire session, and final figures were al
most at the lowest point of the day. July
49Ac. sold down to 48k @4SAc, and
closed at 1885 @4S12c. Local receipts were
GA cars, with 80 of contract grade
Oats yielded only a trif1e, despite the
weakness in other grains. There was
some profit taking by small holders. but
the offerings were readily absorbed. Small
receipts and a decrease in the visible sup
opening unchanged to a shade lower, at
39%c to .39$4 0S97sc. July ranged between
SO sc and $3.50, closing at 1850. Local
receipts were ID cars.
Provisions were weak on selling by
some of the largest holders. The i'm
preston prevailed that several of the
Eastern longs liquidated their holdings.
The market closed at the bottom, with
September pork down 35c, at Sl2 81. Sep
tember lard was off 15c at $500 Ribs
were down zoe. at $7.3219. Estimated re-
ceiptS for tomorrow: Wheat, "a cars; ;
corn 265 cars; oats, 100 cars; hogs, $4,000
head.
Range of Quotations
The leading futures ranged as follows: