The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-09-26
WHEAT SHORTS COVER
ADVANCE OCCURS IN ALL THE
GRAIN PITS
Reports of Anglo Russian Disagreement
Cause Prices to Ascend-Sentimen
Weak and Liquidation Prevalent at the
Opening

CHICAGO, Sept. 24.-Unconfirmed re-
ports of strained relations between Great
Britain and Russia caused active covering
of short sales of wheat here today. At
the close May wheat showed a gain of
Bc. Corn also is up &c. Oats show an
higher.
The failure of foreign grain markets
to respond to the sharp advance here yes
terday caused considerable liquidation in
the wheat pit here when trading began
sentiment was quite weak Initial quota
tons on December were off MONO to Il
81 sc at L -121z @l.13Ac. May was a
shade higher to %@Ac lower at 81 .13A a
l.l47s Shorts took advantage of the
break and covered freely forcing prices
UP to about last nights fclosing figures
December selling up to $1.137s and May
however, renewed profit taking causing a
moderate reaction. In addition there was
some selling on denial of the rumor
that the French government contemplated
reducing the import duty on wheat A re-
port OF the Canadian minister of the in
terror also had a depressing influence. Ac-
stories regarding the situation in the Ca
madam Northwest were grossly exagger-
ated. The total yield of Manitoba and
will aggregate from $4,000, 900 bu to so, :
100000 Blu of good quality wheat.
Toward the latter part of the session
An unconfirmed rumor of possible compli-
cations In the war situation, involving
Great Britain and Russia. started cover
ing by shorts. Offerings at the time were
hight. and in consequence prices advanced
rapidly, December selling up, to 81 .14% q
1.14%. May rallied to 81. l534 An ad-
vance of oyer Sc in the price of the De-
sales there OF cash wheat at 81. 20 bushel
had considerable effect on speculative
trading here Reports of good flour sales
bull factor. During the last half houI
much OF the gain was lost, renewed profit
taking causing decline of over kc. The
at s1.14@1. 141s. Final quotations on
May were S1.15& al. 153s.
Clearanees of wheat and flour were
1s16s, 800 bu. compared with 1.12O900 blu a
year ago. Minneapolis, Duluth and Chi
cago reported receipts of 1913 cars, against
500 cars last week and ST cars a year
Wheat Turns Strongaea
In sympathy with the early break il
wheat prices the corn market was weak
during the first half of the session. There
wet weather throughout the West furnish
ing encouragement to the holder. The
market became decidedly strong late in
the day on bullish report of a well
known crop expert making still further
reduction in the total yield The close
was, almost at the highest point De
49M@59c; sold up, TO 5114c and closed at
51M@51Ac. Local receipts were 21S cars,
with q of contract grade.
Inc action Of the corn market was
the controlling factor in trading in oats
An easier tone prevailed early in the SEES
sion. later became firmer the market
December opened unchanged to 1sc high
ef at. 303 oslo. ranged between 301ac and
81 Is @31Ac and closed at 311sc. Local re-
ceipts were 142 cars
The. fea turea of trading in provisions was
the changing from October to January
products. Small receipts of, hogs and
ening effect. AT the close January pork
was up 10@121sc at s13 25 Lard and ribs
We're each up 1sc at S7.S71s and 81. S71s
respectively. -
Estimated receipts for Monday: Wheat.
6S cars: corn, 264 cars; oats, 129 cars:
hogs, $4,000 head
Range of Quotations
The leading futures ranged as follows: