The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-05-24
WHEAT LOSES A LITTLE
REPORTS FROM NORTHWEST AND
SOUTHWEST BEARis44
Market Starts With Firm Undertone
but Soon Becomes Easier-Weakness of
the May Delivery Is a Leading Bear
Feature.

2 CHICAGO. May 23.-Bearish crop adj
vices from the Northwest and Southwest
In addition to liberal shipments from
Russia, caused weakness In wheat today.
Compared with Saturdays final figures
july wheat shows a loss of &c Corn is
unchanged. Oats are shade lower. Pro-
visions are up 2!kc to l2zc;
For a brief period at the start the wheat
market had a firm undertone. The firm
ness was due mainly to extremely small
local receipts. only two cars being in
SpeCted. into store here today. Initial sales
on July were unchanged to sc higher at
877BC to 881zc Ideal weather conditions
and surprisingly heavy shipments from
Russia asserted influence. however be-
fore the session had made much progress
and on scattered selling the market be-
game easier. Weakness of the May de-
livery affected the deferred futures and
was prominent bear influence. GrGat
Improvement was claimed in the condi-
ton of the winter crop. One report from
Kansas City was especially optimistic, the
assertion being made that threshing would
be begun in Kansas within thirty days.
The report further declared that early
wheat from that section would be rushed
to Chicago in preference to gulf ports.
The market became quite weak during
the latter part of the session. part of the
weakness being due to selling by those
who Saturday bought On the reported big
cash sales at Minneapolis Rearish crop
advices from the Northwest had much
to do with the increasing depression per-
vading the pit near the close. The mar
j
being at 873sc, after touching S71s @8714c.
May ranged between 9T5sc and 991ac, and
closed@at 9Sc
Clearances of wheat and flour were
equal to 127.500 bushels The amount on
passage increased 328, 600 bushels. while
the visible supply decreased 1927 geo bush
els. Primary receipts Were 337 goo bush
els compared with 435. 500 bushels a year
sago. Minneapolis, Duluth and Chicago re-
ported receipts of 235 cars. against 129
cars last week and 913 cars year ago.
h II No Change In Corn.
In view of the number of bear factors
manifested throughout the session the corn
market held UP remarkably we'll The
principal weakening influences were the
extremely favorable weather for the grow
ing crop, the large receipts estimated for
tomorrow and the demoralized condition
OF the cash market The supporting fea-
tufe of the situation was persistent de-
naTld from big comm iSSion house. The
market closed about at yesterdays final
figuTes- July opened 3sc to Is @Ac lower
at 4S1se to 1875 @48l4c, sold between 473z G
ana 49, 614S5sc, closing at 49, 1880. I0-
cal receipts were rs cars, IL of contract
grade
eraf receipts tomorrow had a depressing
influence on the oats market q bearish
sentiment being manifested throughout
the entire session. Weakness in other
grains also tended to bring out sales from
scattered sources. After opening &c low
er! at S61sc, July ranged between CSC and
5SA e@5ossc, closing at 3S% @3SLc Local
receipts were 95 cars
provisions were easier early in the day
as a result of heavy receipts of hogs and
lower prices at the yards. The den1an nd for
al prOducts- however. was quite active
and offerings were readily absorbed. re-
sulting IN fair advance. Packers were
credited with moderate purchases. july
poFk- closed with gain of 121kc, at
"a DC. at $6-s21k and S. 40 Respectively
estimated receipts for tomorrow Wheat
a5ftcaTs; eor1l<f BIZ cars; oats, 21O cars:
hogs, Il, 600 head
Range of Quotations.
The leading futures ranged as follows:
Open. High Low Close