The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-05-05
SUMMARY OF THE DAYS TRANSACTIONS IN THE MARKETS
WHEAT A SHADE HIGHER
CONFLICTING REPORTS FROM THE
SOUTHWEST CAUSE FIRM CLOSE
8earish Sentiment Marks the Opening,
Due to Good Weather and Progress Of
Spring seeding-seiIing Is General IN
til Change IN Feeling Occurs.

CHICAGO. May 4.-Confficting reports
regarding the condition of wheat fields in
the southwest caused firm close in
wheat today, Final figures ON July were
q shade higher than yesterdays close.
S y Is up NC. Oats show gain Of
%@Ac and provisions 71s@1Oc.
With an inclina ton to weakness the
wheat market opened at. slight decline,
July being down 1s@3sc at 84A @S4Ac
FINE weather everywhere. and the fact
mat spring seeding was progressing rap
IDLY were the principal contributors to
the bear1Sh sentiment. A rumor that
crop reports of Michigan, Missouri and
Ohio would show moderate Improvement
IN conditions of growing wheat increased
the selling pressure. Talk of a possible
general tie up of lake navigation also had
some bearish influence. The selling was
quite general for g. time and in eonSe-
Quence prices continued to decline July
going down to 843sc. But sentiment grad
uaily underwent change. One of the
prlncIpal traders seemed to be more in
cllned 10 buy wheat, and the action of this
operator was the signal for an increased
demand on the part of pit traders Re-
ports from the Southwest as to the con-
otlon or winter wheat were decidedly
contradictory. This fact gave fresh en-
couragement to the bulls and brought
OUT additional buying orders. The mar
Ket became active and strong. With only
light offerings the price of July advanced
to 85c- During the last half hour there
was considerable profit-taking, which car
f fjrn1 prizes if6 1 PACK rs The market closed
Clearances of wheat and flour We're
equal to 125,9oO bu. Primary receipts
were 2O4400 Blu, compared with 277, 700 bu
a year ago Minneapolis. Duluth. and Chi
.cago reported receipts of SO cars, com
pared with "A cars last week and 119
cars year ago.
Corn Follows Wheat.
After exhibiting some weakness early
IN the day as result Of a decline IN
wheat: the corn market displayed con-
siderable strength the remainder of the
session. Shorts bought freely and there
was also influential buying credited to a
crease in receipts with a small per
centage OF contract grain was bull fac
Tor. An improved export demand also
simulated buying. Late Ia the day the
market lost part of its strength on real
iziiig sales. but the close was firm. July
opened shade to H lower at 47% 6D473Ic
TO TO, 47Sc, sold between 47%@47&c and
40 !2c, closing at 4S1s W48Hc. Local re-
eeipts were 103 cars, with only of con-
tract grade.
Small receipts and an active cash de-
pendent strenth in oats There was an
easier tone at the opening in sympathy
with wheat and corn, but on q small de-
cline the demand became of such a gen
eral character as to cause decided
strength Pit traders bought July and
September, while shorts covered sales of
May. The market closed strong. After
opening unchanged to a shade lower at
IS Is @381sc to 3S1sc, July sold between
$3.50. and 39Ac and closed at 1874 a 39c.
Local receipts were 20 cars
Buylng by shorts and packers caused a
firm tone in provisions. The market was
helped by the more bIllish hog situation
and by light offerings NJuly pork closed
VII, WITH gain OF 1ec at $1kS2K. Lard and
St .471s Q6.50 respectively
Range of Quotations.
The leading futures ranged as follows:
Jio-1,T ~