The Saint Paul globe., 1904-06-19
NMARY OF THE DAYS TRANSACTIONS IN THE MARKETS
WHEAT IS UNCHANGED
PREVAILS BUT GOV.
ERlNG PREVENTS NET LOSS
Perfect Weather for Crops Has It's
uusuai Effect Most of the Day-Just
Before the Close Losses Are Regain

CHICAGO, June 18.-Practically per-
rect weather conditions for the matur-
ing and harvesting Of wheat caused
weakness in the market for that cereal
To-Day, but covering by shorts resulted
In recovery. Final figures for July
ing quotations. Corn is down he;
oats are off 3s a 1Ac; provisions show no
material variations.
one of the most striking overnight
changes affecting the wheat market
was the decided advance in prices at
Liverpool Under the influence Of firm
cables the market here opened strong,
July being up 4 a &c to &c, at $500
S49sc, Another factor that helped to
strengthen the situation was a sharp
railing off in shipments from Australia.
Ihere were also rumors of foreign or
ders here for immediate shipment at
about working basis. The possibility
of domestic millers and foreigners COM
petlng for the small stock of old wheat
was enough to give short sellers of
July feeling of uneasiness. There was,
however, much realizing by local longs
at the advance. AS a result, July eaSed
on to 84A @84$c, after working up
again to 8412c, the price started on a
gradual decline occasioned largely by
selling on fears of bearish statistics on
Monday. Weather conditions, which
WCho dIHOSl peIAetl,, tenQeQ ueClQeQIy
to weaken values. Northwestern
houses were constant sellers throughout
the day. Reports from the Northwest
were suggestive of an increased move
ment in the near future. just before
the close there was renewed covering by
shorts and practically all the loss was
regained. The low point on July was
reached at 83Ac. The close was at
84@84hc.- September ranged between
nd -
1917 @79%c.
ClearanceS of wheat and flour were
equal to 163.100 bu. Primary receipts
were 296,900 bu, compared with 321.-
zoe bu year ago. Minneapolis, Duluth
and Chicago reported receipts of 301
cars, against 210 cars last .weslx and
254 cars year ago.
The initial strength Of wheat exerted
supporting influence on the corn mar
ket at the start, holding prices the first
hour trif1e above yesterdays closing
figures. Weather conditions, however,
were too favorable, and receipts too lib
eral to allow of any considerable bulliSh
enthusiasm. The volume of trading was
small, business being confined mainly to
local traders. On the decline in wheat
the selling of corn increased. causing
weak undertone. The market closed
near the low point. July opened shade
lower to 1sc higher, at 48$ @43Kc to
4S1sc, sold between 47ssc and 485s O.
closing at 47%c. Local receipts were
364 cars. with SO Of contract grade.
Selling of oats followed the weakness
of other grains, liquidation Of July
holdings being feature of trading
There was very little demand, and as a
result prices gradually worked toward
a lower level. After opening a shade
higher at 3S%c, July sold off to 38Ac
and closed at So asc. Local receipts We're
"a cars.
Trading in provisions was almost at
a standstill, there being an almost to-
tai absence of demand. Prices were
barely steady, Notwithstanding smaller
receipts of hogs ana a firm market at
the yards. September pork closed 2 415 q
sc lower, at $12.S5. Lard was unehang-
ed at $6.9774. Ribs were up 212c, at
$7.45. Estimated receipts for Monday:
Wheat, 29 cars; corn. 440 cars; oats,
"a cars; hogs, 10000 head.
Range Of Quotations
The leading futures ranged as follows:
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