The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-02-01
DROP COMES IN WHEAT
MORE PEACEFUL STRAIN FROM THE
ORIENT CAUSES WEAKNESS
Leading Bull Operator Supports the Mar
ket and the Demand Is Less Urgent
Than UsuaI-Trading Is of Dragging
Character Most Of the Day

CHICAGO. Jan. 30.-The less belligerent
tone of news from the Orient was the
main influence in the wheat pit today.
SIna1 holders took profits, causing de-
cline of nearly a cent in both the July
and May deliveries. Some of the loss was
regalned. but the close was weak with
May q q 1ac below last nights final fig
ures. May corn A@Ac lower. but oats
were up 1sc. Provisions were 712c to soc
lower
The leading bull operator supported the
wheat market on breaks early in the day
and there was also scattered buying from
commission houses, but the demand was
not nearly so urgent as it has been re-
Gently. In the face of higher prices at
Liverpool opening quotations here showed
losses, May being off a shade to A@$sc
at 90asc to 9O9sc July opened 1s@Ac to
&c lower at S2a4c to S2Bc. Local
holders were inclined to dispose of their
lines, and in spite of moderate buying by
the Dig bull interest prices began to seek
a lower level, May declining to $3.50 and
July to S23sc, within the first half hour.
Trading was of a dragging character the
greater part of the day. The market ex-
hlb1ted renewed signs of life at one time
when. on report that the big holder was
selling July, quite general liquidation in
that delivery developed. The price quickly
dropped to SIC. and May sold off in SYM
pathy to S9%c. Late in the day frmer
feeling was manifested on less pressure
to SELL but the improved tone was only
temporary. Renewed profit-taking and
evening up sales over Sunday caused a
H.
A less bullish cash situation in the North
west had a depressing influence on specu-
lative trading here. May closed ss01ae
lower at 90Ac, while July was down q q
sc at S2Ac.
Clearances of wheat and flour were
equal to 358, 700 bushels. Primary receipts
were $4,000 bushels, against $50, 900 BUSH
els year ago. Minneapolis, Duluth and
Chicago reported receipts Of 283 cars,
against 373 last week and 352 a year
ago.
Corn Also Declines.
Corn prices declined slightly in sym
pathy with wheat and on selling credited
to leading packer, but taken as a whole
the market was a steady one Cables did
not respond to the advance here yester-
day and there was some profit taking on
the improved prospects for peace. Com
mission houses were the best buyers. The
close was steady, with May A@Ac low
er at 15O1sc, after opening shade lower
to a shade higher at 50Hc to 503sc and
ranging between Doc and 5OSsc. Local re-
-ceipts. were 27S cars, none of contract
grade.
In the oats market the strength in the
cash article more than offset the influence
of the easier tone in wheat, and prices
ruled firm throughout the day. Trading
was largely by commission houses After
opening unchanged to "a lower, at 42$4c
to 43c. May sold between 42Ac and 43Ac.
closing at 43Bc. Local. receipts were "A
cars
Liquidation by commission houses and
selling credited TO packers caused weak
ness in provisions. A late decline in the
price of hogs added to the depression. May
pork led in the decline closing with loss
of soc at $13 021a. May lard was off 121Ac,
at 81 80, while ribs we've down 71z @10c at
Estimated receipts for Monday: Wheat,
80 cars; corn, $50 cars; oats, 100 cars;
hogs, $4,000 head.
Range of Quotations.
The leading futures ranged as foYIows: