The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-10-16
WHEAT GOES HIGHER
REPORTED IMPORTATION OF MANI
ToRA GRAIN is CONFIRMED
Market Is Strong From the start-RuIl
Traders Are Encouraged by the Fact
That Foreign Markets Follow the Adj
vance Here

CHICAGO, Oct denomination that
Duluth millers are importing Manitoba
wheat was perhaps the chief factor IN q
strong wheat market here today AT the
clos December was up &c May was
UP &c. Corn is off &c. Oats are down
kc Provisions show gain of &c to
The wheat market was strong from the
start. The fact that foreign grain mar
kets followed yesterdays sharp advance
here furnished considerable encourage
ment to bull traders. Advices from Ar
gentina also were. bu1l1Sh, he-EWeatner
there being reported as extremely un-
favorable. The element of perhaps me
grea test Importance, however, was the
continued active demand for cash wheat
and the apparent scarcity of that article.
Shorts and commission houses were ufg-
ent bidders for the December option, put
offerings were extremely light.
After opening unchanged to sc higher,
at 81 .1214 al 1885, the price OF Decem-'
Der rose rapidly to 81. Az May was
helped by the strength Of December, and
after opening h@Ac lower to 1s@Ac
higher, at 81. POL 1925, sold up to 81 L.
On the advance numerous realizing sales
were, made, resulting In temporary sell
back. December declined to 81 .13 %, Whlle
May sold off to 81. 12$s al. 1212. The bulls
soon regafned control OF the situation,
and during the remainder of the session
the market held remarkably firm. Trad
ing was confined mainly to the December
option, and the strength OF that deflV. .
cry prevented any considerable selling or
fecting late trading was message from
Duluth to a commission house here con-
frming a rumor circulated yesterday. 10
the effect that Northwest tern millerS are
buying Manitoba wheat. The market
closed strong with December at $1,133s.
Final quotations On May We're at 81. 1850
1.12H.
Clearances of wheat and flour were
equal to 45, 500 bushels. Primary receipts
were l, 243, 600 bushels against ], l98, sou
bushels a year ago. Minneapolis. Duluth
and Chicago reported receipts of 979 cars,
against S32 last week and 64S year ago.
Corn Goes the Other Way
In spite of the strength of wheat, the
corn market was quite weak. Heavy
selling by a number of large commission
houses was responsible for the decline
that occurred during the day.. The favor
able crop prospects and excellent weather
conditions were largely instrumental in
closed at the lowest point. December
opened 1850 lower at 49$ @49Bc to
497se, sold between 495z @50ssc. and clos
ed at 49Ac Local receipts were liz cars,
with { of contract grade. -
Moderate liquidation caused weakness
in the oats market. Trading was light
and mostly of local character. December
opened unchanged at 29c, sold up TO
29Ac and then reacted to 2S1sc. The
close was at tsd the low point; Local re-
Provisions we've firm on fair buying by
pit traders. and as a result of support by
packers. At the close January pork was
up 1274c at $12.40. Lard was up NC at
Estimated receipts for. Monday: Wheat.
135 cars; corn, 101 cars; oats, 1874 cars,
and hogs $4,000 head.
Range of Quotations 49,
The leading futures ranged as follows: