The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-05-01
WHEAT AND CORN VARY
FORMER GAINS IN PRICE AND THE
LATTER LOSES

CHICAGO, April 30.-Reiterated re-
ports of extremely barren wheat fields
throughout the Ohio valley were chiefly
responsible for strength In the wheat mar
ket today in the face of favorable wealth
er. !, The July option closed at net gain
OF &c Corn is down Is @Ac. Oats are
up Nc Provisions are off 21s@71kc.
Indifferent cables and brilliant weather
throughout the Northwest and South
west caused an easier tone in wheat at
the opening, the July delivery being down
&c at S4%c. An active commission house
demand, however, soon developed, with
shorts free buyers of May. In consequence
the May option sold up about lie, while
July advanced &c. The leading factor in
the almost sensational bullish crop news
from the Ohio valley. Local traders who
nave had an opportunity of viewing fields
IN that section during the past week found
it difficult to express the extent of the
damage. Reports from such sources had
much to do with. the generally bullish
sentiment OF pit traders. Another
strengthening influence was good de-
mand for the cash article here and in the
Northwest. Probable delay in, the open
ing OF navigation owing to strikes tended
TO strengthen the situation, as with the
supply of wheat from Duluth cut off
there would be a better demand here.
Late weakness in corn and a desire on
the part of a few holders to take profits
over Sunday checked the advancing tend
seney, but the close was firm and near the
nigh nigh point int Final quotations on July
S51s @ S57sc- Nav ranged between SSBc
and 9ee closing at 905kc.
Clearances of wheat and -four were
equal to 136,409 bu Primary receipts
Were 165. 100 blu. against S63, 800 bu year
ago. Minneapolis, Duluth and Chicago
reported receipts Of 106 cars, compared
with. s6 cars last week and 2O1 year
Corn IS Heavy.
The corn market acted heavy all day.
but there was very little change in prices
until late in the session During the last
hour a big long commenced to realize on
part of his holdings and this brought out
general liquidation resulting In con-
siderable decline. The late weakness was
in part attributedSto possibilities of heavy
deliveries Monday ION May contracts.
There was not much In the way Of news
to affect the market extensively either
way. Gables were about steady, cash
demand fair and receipts small. The
weather was favorable for planting. July
opened unchanged to a shade higher at
4S1kc to 4Sk @4S9sc. sold between 47%c
and 485s @4S% czand closed at ASH @4Sssc.
May ranged between. 457c and 46%c.
closing a 1870. Local receipts were 157
cars, with Is OF contract grade.
There was some good buying in oats
leaders were active buyers OF July and
shorts bid the price of May up nearly lie.
The market continued strong until the
ActSI IAoAl uO0Ii WAlCH oOAItO VI tIlS dufduC6
was lost on proftztaking The late mar
ket was affected by weakness In corn.
The close. however, was firm, July open
ed 1sc lower at sec sold up to 391zc and
closed at $3.50. May sold between 40Sc
and 407s@41c and closed at 4024c. Local
receipts were 81 cars.
The principal business in provisions was
in the way Of changing from May to July.
although there was some liquidation
through commission houses Indications
as a depressing influence The market
closed easier, with July pork down TIC
at $11 STA. July lard was off 5@71hc at
Sc. 671b and ribs were down 21s @5c at
Sc. 1906 .4252.
Range Of Quotations.
The leading futures ranged as follows:
Open High. Low Close.