The Saint Paul globe., 1904-06-30
SUMMARY OF THE DAYS TRANSACTIONS IN THE MARKETS
WHEAT SHOWS A GAIN
DAMAGE BY RAIN rs REPORTED IN
THE SOUTHWEST
This 5uIIish Development Follows a Bear
ish Period With Heavy Undertone-Re-
port of Minnesota Expert Is Partially
Confirmed

CHICAGO. June 29.-Reports Of dam
age by rains in Kansas and Missouri
caused strength here today in wheat.
September finished with gain OF IS a &c.
Corn is up &c. Oats made net advance
OF rs a 4c. Provisions show loss of 21s
@71ec.
While sentiment in the wheat rit at
the start was quite bearish as a result
OF lower cables reports of additional rains
In the Southwest prevented any great
selling pressure. Initial quotations on
September were a shade lower at 801sc.
considerable liquidation soon developed in
July. There was also much changing
from July to September affecting bear
ishly the nearby delivery. The weakness
OF july had depressing influence on the
distant futures. causing September to
sell off to S03sc An absence of outside
speculative interest emphasized the heavy
tone prevailing. Toward noon however,
tuInors run or adverse reports regarding win
ter wheat were circulated. Buying by
houses supposed to have these reports
started the market on an upward course.
News from the Southwest was especially
buHlSh. A Minneapolis crop experts re-
port told of damage by rain to wheat in
Kansas and Missouri. The statements Of
This authority Were partially confirmed by
the report OF another expert WHICH stated
that from q recent survey of conditions in
the southwest big reduction in the
winter wheat yield must be made An
additional bull factor that influenced trad
port from Kansas City to the effect that
a severe storm was in progress in Okla
homa. The market closed strong near the
high point. final figures on September be-
ing at S1A after the price had touched
S1$s @S11Ac.
Clearances of wheat and -four were
equal to 1924 bu Primary receipts We're
212900 bu. compared with 307. 100 bu a
year ago. Minneapolis, Duluth and Chi
cago reported receipts of 20S cars. against
1So cars last week and $50 cars a year
ago.
Corn Rises Likewise
A feature of trading in corn was liuuida-
ton of-@uly and the changing from that
month to later deliveries. AS a result of
this selling the nearby option was rather
weak, but recovered most of the loss near
the close. The September delivery was
firm. influenced by the strength of wheat
and by bullish crop advices. Small re
ceipts and "a good cash demand further
eided the bulls. The market for distant
oeilverleS closed strong and at the high
point. September opened unchanged to
shade lower at ASK to 4S1z @4S3sc. sold
between 4S1sc and 4S5s a 48s+c and closed
at the top. Local receipts were IT, cars.
with p of contract grade
:. A steady tone prevailed in oats. Some
lquldation Of July caused an easier feel
ing at one time. but when wheat became
strong shorts bid the price Of oats I'D to
yesterday close. Outside of the mod
ferlngs in the pit. September opened un-
changed at 317sc, sold between 3124c and
321sc- and closed at 32@321sc Local re-
ceipts We're g. cars
Provisions We're easier on general
liquidation. Commission houses were on
both sides of the market and there was a
fairly large trade. Covering by shorts
caused a moderate recovery, but closing
prices were lower an all products Sep
tember pork being down 71ac at $12. S215
September lard and ribs were each off
212e at 81 05 and 81 so respectively. Es-
timated receipts for tomorrow: Wheat.
II cars: corn. 253 cars; oats 119 cars:
hogs. $1,000 head The board Of trade
will be closed July , and 4.
Range of Quotations
The leading futures ranged as follows: