The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-07-06
WHEAT GOES HIGHER
NEWS FROM EvERYw4ERE ENcouR-
AGES TIE BULLS
Sharp Advance Is Brought About by
Heavy Reduction In Worlds Shipments
and unfavorabie Harvest Weather
Corn Also Gains

CHICAGO, Ill. July 5-CnfaEorable
harvesting weather and q reduction of
about 20 per cent in the world s. shin
ments were the main causes for a sharp
advance in wheat prices today. Final fig
ures on September are 1hm15sc I'D.
Corn made net advance of A@kc.
Oats show a gaineef 1sc. Provisions are
practically unchanged
Inc wheat market opened strong with
September up 3s@5sc to 1B@IHc at
S1A @S2&c. Among a variety of buliish
FACTORS that Influenced traders at the
start were wet weather in the South
west and the large decrease in the
worlds shipments Since the adjourn
ment OF change Friday rains had been
quite general in the Southwest greatly
delaying harvesting operations News
from abroad was equally encouraging to
the bulls Shipments for the week from
Russia showed falling off OF over a mil
lion bushels. and those from the Danube
country were reduced by half. The
amount on passage was nearly 1000. 600
bushels less than week ago revised
estimate OF the French crop made con-
siderable reduction III the total yields.
Foreign grain markets were affected by
the bullish statistics, prices at Liverpool
being up nearly a cent. Under these in
fuenees there was an active demand for
wheat here, some small shorts being the
principal buyers. As the session adFanc-
ed the market gained additional strength.
Official forecast OF rain in the Southwest
caused fresh anxiety TO shorts IN view
OF a strong market at Kansas City. At
times the pit was almost entirely bare
OF offerings and buyers had to materially
bid I'D prices before orders could be filled.
The only bear factor of any importance
that developed during the day was the
Ohio crop report. which made the cond1-
ton of the crop SO against 81 last month
The high point in September was reached
att S5@ 50 &c Notwithstanding the fact
thar there was considerable liquidation GO
ing on during the last half hour. the mar
ket closed strong with September at S2S4 c.
Clearances of wheat and flour were
equal to Lee. 500 bushels. The amount on
passage decreased ST, eoe bushels; and nd
the visible. supply decreased 59l 900
bushels. Primary receipts were $4,000
bushels, compared with 219, 200 bushels
year ago. minneapolis Duluth and Chi
cage reported receipts of $50 cars. against
go cars last week and 7S2 cars year
age.
Corn Is Firm
The strength of wheat caused some
frmness ia corn, but there was no great
amount OF bull enthusiasm manifested
The volume OF business was small: inter
est Of traders being centered in the
wheat pit. There was moderate buying
OF July by shorts, and the commission
houses were fair purchasers Of September.
The market was strengthened somewhat
by a report OF local StatiStician giving
the situation in The Missouri valley as
distinctly unsatisfactory. September
opened &c higher. at 4s7s c. sold between
4sSse, and 1875 @49Ac. and closed at
ASS @49c- Local receipts were sos cars
with 45 OF contract grade
The oats market was not inclined to
SympathiZe to any bullishness of wheat.
in fact speculative sentiment was almost
entirely dormant, the volume of trading
being extremely small. There was a
light demand for July from shorts and
local bull traders bought small lots of
September. After opening &c to Is @Ac
higher, at 32@32Bc, September ranged
between 319z @32@321sc. and closed at
3ee Local receipts were 254 cars.
Provisions were firm early on a demand
from packers resulting from buliish
hog market. On the advance commission
houses were liberal sellers, causing a re-
action. Late in the day rally occurred
on the strength of grains. The market
closed steady with September pork
shade lower at s13 -2215- September lard
was unchanged at $7-275z. Ribs were up
25sG5 &c at T.T715.
Estimated receipts for tomorrow:
Wheat. II cars: corn 257 cars; oats, 1875
cars; hogs. IS. 600 head
Range of Quotations
The leading futures ranged as follows:
- (1neg, High Low Close