The Saint Paul globe., 1904-10-27
WHEAT CLOSES OFF
RUssIAs APOLOGY is THE CAUSE
OF WEAKNESS
Steady Tone Prevails at the Opening and
a Small Advance FoIlows-Heavy Liqui-
dation Breaks the Market -

CHICAGO, Oct 26.-The apology by
Russia for the shelling of the British fish
ing boats was largely the cause of weak
wheat market here today. A break IN
the close both the December and May
options were off &c. Cora lis up 5sQ sc.
Oats show a gain of Ac. Provisions are
practically unchanged.
Small receipts and comparatively nrm
cables caused a steady tone In the mar
ket at the opening. December was shade
lower to shade higher at $1:l47s 10
$1.145s. May was unchanged TO Ac nlgns
eF at $1.132s to $f.13hs. On a fair demand
from commission houses and pit traders
the market advanced trif1e, Decempef
selling up to $1.44B and May to 81. u z
Selling supposed to for a leader OF the
bull crowd caused moderate reaction:
December declining to $1.14&- May SOLD
off to $1.191 1s. Trading was rather quiet un-
til late in the day, the market lacking
any definite news either buIlish or bearish-
From S1.143s December advanced to
$115H on covering by some who sold yes
terday. The demand for May was less ac-
tive and in consequence that delivery
showed more resistance to an advance.
Late in the day the market broke Sharply
under heavy liquidation. During the lat
ter part of the session a persistent re-
port had been in circulation that a quarter
million bushels of cash wheat had been
sold here at z15c under the December
price. Naturally this rumor had de-
pressing influence upon Speculative trad
ported baekdown by Russia was an even
greater blow to holders, especially those
who had expected further war scaTes
Late weakness at Minneapolis also had
considerable influence on the market
here. After selling off to 81 .135s sDecem-
Der closed at $1.137s 7s@1.14. May Declined
to S1.123s. The close was at 81, 12A
Clearances of flour We're 1000 parrels.
Primary receipts were 1,043, 800 bushels
compared with 1.3S9.700 bushels a year
ago. Minneapolis. Duluth and Chicago ago
reported receipts OF 135 cars, against no
cars last week and S61 cars a year ago.
Corn is Up
In corn an active commission house de-
mand for both December and May detlV-
cries caused a strong tone. Shorts also
were liberal purchasers Trading was
more active than for some time past. a
buliish cash situation was an important
factor in speculative trading Decemeef
opened Ac to &c higher at AZ nc 70
1870, advanced to soc and closed at 49St Qq
49Bc. Local receipts were " cars, with
5 of contract grade.
Oats were dull but firm A strong un-
dertone existed in sympathy with higher
prices of corn and with the falling on or
receipts. Cash houses and elevator IN
terests were the best buyers. After open
ing 1Ac higher at 291e, December ad-
Vaneed to 29asc and closed at nc. Lo-
cal receipts were 81 cars.
As a result of a 10c decline in the price
of hogs an easier tone preyalie9d IN pro-
visions at the opening, with all products
showing slight losses. The initial decllne
was all regained on a fair demand from
pit traders and small packers. Late in
the day sentiment again became easy on
moderate profit taking. At the close all
January PRODUCTS were down 21sc. Pork
elosed at $3.50, lard at $7.071a and ribs
Estimated receipts for tomorrow:
Wheat, 7s cars; corn, 62 cars; oats, 81
cars; hogs, $4,000 head.
Ranqe of Quotations
The leading futures ranged as follows: